# UTSL (Direxion Daily Utilities Bull 3X ETF)

Direxion · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: UTSL returned −33.0% where its own daily promise gave −31.2%, 1.8 points short.

## Key facts

- UTSL, what XLU did: −11.3%, as of Sep 30, 2026.
- UTSL, what 3 times a day gives: −31.2%, as of Sep 30, 2026.
- UTSL, what the fund returned: −33.0%, as of Sep 30, 2026.
- UTSL, the fund itself cost: −1.8 pts, as of Sep 30, 2026.
- UTSL, net assets: $55m (issuer page, as of Sep 30, 2026).
- UTSL, expense ratio: 0.97% (485BPOS XBRL, Feb 26, 2026).

## UTSL over each window to Sep 30, 2026

| Window | Fund | XLU | +3x the move | Difference | XLU moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −17.9% | −5.9% | −17.8% | −0.1 pts | 14% |
| 3 months | −33.0% | −11.3% | −33.8% | +0.8 pts | 14% |
| 6 months | −40.3% | −13.3% | −39.9% | −0.5 pts | 16% |
| 1 year | −32.3% | −7.0% | −20.9% | −11.3 pts | 15% |
| 3 years | +74.8% | +46.3% | +139.0% | −64.2 pts | 16% |
| Since launch | +44.7% | +107.2% | not meaningful over this window | not meaningful over this window | 20% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +3 times the daily move of XLU, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +2.93 times, against +3 stated | ETFIQ |
| Underlying | XLU | ETFIQ |
| Segment | sector or country, sector | ETFIQ |
| Net assets | $55m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 0.97% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | May 3, 2017 | ETFIQ |
| Underlying volatility over the window | 14% annualized | ETFIQ |

## Questions

### Did UTSL return +3 times XLU?

Over the window to Sep 30, 2026, XLU moved −11.3% and UTSL returned −33.0%. 3 times that move is −33.8%, so the fund came out 0.8 points ahead of it.

### Why does UTSL not return +3 times over a year?

Because it resets daily. UTSL aims at +3 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +3 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, UTSL, data as of Sep 30, 2026. https://etfiq.com/funds/utsl
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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