UTSL +3x Direxion Daily Utilities Bull 3X ETF

UTSL

ETF +3x BULL extreme
Direxion Daily Utilities Bull 3X ETF
Issuer: Direxion · Tracks: Utilities (XLU) · Listed: 2017-05-03
Implied AUM
$44.1M
Last Close
$44.06
20260720
30d Avg Vol
108,694
Options
available
Realized return vs theoretical +3x Utilities
Other leveraged products tracking Utilities
Symbol Factor Direction Issuer Name Implied AUM 30d Vol Options
UPW +2x BULL ProShares ProShares Ultra Utilities $17.8M 11,544
SDP -2x BEAR ProShares ProShares UltraShort Utilities $4.0M 2,682

How UTSL works

UTSL targets +3x the daily return of Utilities — not the cumulative return over multi-day windows. The fund rebalances at the close each day using swaps or futures, which is what creates the volatility drag the chart above visualizes.

Mathematical headline: drag ≈ −0.5 × N × (N−1) × σ² per period. For a +3x product on an underlying with 25% annualized vol, expected annual drag is around 18.8%. Add expense ratio and the realized number is typically worse.

  • Short-term tactical: daily and intraday holds are where these products were designed to live.
  • Premium selling: options on UTSL carry very rich IV — see the quote page for IV rank and straddle pricing.
  • Multi-day directional: works in strong trends; gets eaten alive in chop. Use the chart above to gauge the realized vs theoretical track record.