Skip to content
etf.net

FAS vs UTSL

Direxion Daily Financial Bull 3X ETF

FASANYSE Arca

Direxion Daily Utilities Bull 3X ETF

UTSLCNYSE Arca

Overlap

Expense ratio

FAS −0.09pt a year

FAS0.88%UTSL0.97%

Avg volume · 30D

FAS 2.2×the volume

FAS413KUTSL191K

5Y return · a year

Same figure. Both funds show the same value, so neither comes out ahead.

FAS+5.6%UTSL+5.6%

FAS vs UTSL Performance

Oct 29, 2021 – Oct 30, 2026

+31.4%FAS+31.3%UTSL

Oct 29, 2021 to Oct 30, 2026. FAS +31.4%. UTSL +31.3%. Use the arrow keys to read each point.−50%−25%50%75%Oct 2021Apr 2024Oct 2026
Expense ratio
FAS 0.88%, better
UTSL 0.97%
Fund size
FAS $2.17B
UTSL $69M
1Y total return
FAS +12.3%, better
UTSL −15.6%
Yield (12M)
FAS 8.87%, better
UTSL 2.41%
Holdings
FAS 87
UTSL 39
Avg volume (30D)
FAS 413K sh, better
UTSL 191K sh
NAV per share
FAS $168.18
UTSL $37.49
52W range

ETF.net Grade

FAS: Cost 92, Risk 69, Mission not scored, Tradability 73, Holdings not scored, Durability 66. UTSL: Cost 38, Risk 53, Mission not scored, Tradability 60, Holdings not scored, Durability 37.
Pillar letters and Scores for FAS, UTSL, with each pillar’s weight
PillarFASUTSL
Cost30% weightA92HigherD38
Mission25% weightNot scoredNot scored
Risk15% weightB69HigherC53
Tradability15% weightA73HigherB60
Holdings10% weightNot scoredNot scored
Durability5% weightB66HigherD37

Rank among 3x Leveraged Long funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. FAS and UTSL are both graded against the same 30 3x Leveraged Long funds, so their Grades compare head to head.

3x Leveraged Long⁠

Category · 30 funds
See all 30 ›

FAS ranks 3rd and UTSL 15th of 30 funds in the 3x Leveraged Long Category.

  1. Rank 1ATQQQProShares UltraPro QQQScore 86
  2. Rank 2AUDOWProShares UltraPro Dow30Score 81
  3. Rank 3AFASDirexion Daily Financial Bull 3X ETFScore 80
  4. Rank 4ASOXLDirexion Daily Semiconductor Bull 3X ETFScore 76
  5. Rank 14CWEBLDirexion Daily Dow Jones Internet Bull 3X SharesScore 47
  6. Rank 15CUTSLDirexion Daily Utilities Bull 3X ETFScore 46
  7. Rank 16CDUSLDirexion Daily Industrials Bull 3X ETFScore 45

Our read on each fund

ETF.net Research

FASADirexion Daily Financial Bull 3X ETF

UTSLCDirexion Daily Utilities Bull 3X ETF

In short

FAS Born in November 2008 with the banking system on fire, FAS aims to deliver three times the daily move of the Financial Select Sector Index. A one-day tool on roughly 80 financial stocks, built around a single-day objective.

UTSL Triple-leveraged exposure pointed at the market's sleepiest sector: UTSL seeks 300% of the Utilities Select Sector Index's daily move, reset every day. 0.97% net of a waiver through September 1, 2027.

Stated mandate

FAS The fund seeks a daily return equal to three times the performance of the Financial Select Sector Index, before fees and expenses. It is designed for a single-day objective rather than a multiple of the index’s cumulative return over longer periods.

UTSL The fund seeks daily investment results, before fees and expenses, equal to 300% of the performance of the Utilities Select Sector Index.

Why people hold it

  • FAS Launched in November 2008, into the crisis itself, and still one of the strongest implementations in its 3x peer group.
  • Costs 0.88% net of a waiver through September 1, 2027 (0.92% gross), below the median for 3x leveraged funds.
  • A multi-billion-dollar fund that trades steadily, so the leverage arrives in a reasonably liquid wrapper.
  • Straightforward plumbing: 3x the daily move of one named large-cap financials index, about 80 stocks, no stock-picking overlay.
  • UTSL Most 3x funds point at tech, banks or broad indexes. This one aims at electric and multi-utility names, seeking 300% of the Utilities Select Sector Index's daily move.direxion.com
  • Trading since 2017, a long run for a single-sector 3x fund, built on the S&P Dow Jones utilities benchmark and its roughly 40 large power and gas names.direxion.com
  • 0.97% net of a waiver through September 1, 2027 (0.98% gross) sits near the median for 3x funds, so the niche mandate carries no surcharge.

Worth knowing

  • FAS The 3x goal resets every day. Hold longer and compounding can push results away from three times the index's move over that stretch, especially in choppy markets.
  • Leverage runs both directions: down days are magnified just as sharply, and this is one sector in one direction with no diversification cushion.
  • Not the cheapest 3x on the shelf: SOXL runs 0.75% and TQQQ 0.78%, each net of waivers through September 1, 2027 and September 30, 2027.
  • UTSL Leverage resets daily. Over any stretch longer than a day the result depends on the path utilities take, and choppy markets can leave it short of 3x the index move.direxion.com
  • A smaller, moderately traded fund next to headline 3x names like TQQQ and SOXL, so spreads and order size deserve a look before trading.
  • Cheaper gearing exists in the same lineup: SOXL charges 0.75% net of a waiver through September 1, 2027, pointed at semiconductors rather than utilities.

Full FAS profile⁠

Full UTSL profile⁠

FAS vs UTSL Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FAS vs UTSL Cost

Overpaying UTSL vs FAS

$1,493

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • FAS 0.88%

    $16,705

  • UTSL 0.97%

    $18,198

$10,000
30 years

Cost over time

  • FAS 0.88%
  • UTSL 0.97%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530UTSL $18,198FAS $16,705

Year by year

YearFASUTSLOverpaying
10$1,559$1,712$153
20$5,891$6,443$552
30$16,705$18,198$1,493

Expense ratio

  • 0.88%FAS, cheaper
  • 0.97%UTSL
  • Middle half of 3x Leveraged Long funds
  • Median 0.96%

FAS 4th cheapest of 30 funds

UTSL 16th cheapest of 30 funds

FAS vs UTSL Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
FAS 8.87%, better
UTSL 2.41%
Payout (12M)
FAS $14.62
UTSL $0.92
Last payment
FAS $1.00
UTSL $0.40
Ex-dividend
FAS Sep 22, 2026
UTSL Sep 22, 2026
Paid on
FAS Sep 29, 2026
UTSL Sep 29, 2026
Frequency
FAS Quarterly
UTSL Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FASQuarterly · 36 paymentsAll FAS payments⁠
One bar per payment. 36 payments from 2017 to 2026 YTD. Dec 19, 2017 $0.08; Mar 20, 2018 $0.13; Jun 19, 2018 $0.16; Sep 25, 2018 $0.19; Dec 27, 2018 $0.16; Mar 19, 2019 $0.16; Jun 25, 2019 $0.17; Sep 24, 2019 $0.15; Dec 23, 2019 $0.11; Mar 24, 2020 $0.12; Jun 23, 2020 $0.04; Sep 22, 2020 $0.05; Dec 22, 2020 $0.08; Mar 23, 2021 $0.13; Jun 22, 2021 $0.14; Sep 21, 2021 $0.15; Dec 21, 2021 $0.36; Jun 22, 2022 $0.12; Sep 20, 2022 $0.22; Dec 20, 2022 $0.33; Mar 21, 2023 $0.17; Jun 21, 2023 $0.62; Sep 19, 2023 $0.29; Dec 21, 2023 $0.38; Mar 19, 2024 $0.36; Jun 25, 2024 $0.27; Sep 24, 2024 $0.32; Dec 23, 2024 $0.19; Mar 25, 2025 $0.46; Jun 24, 2025 $0.50; Sep 23, 2025 $0.39; Dec 10, 2025 $12.09; Dec 23, 2025 $0.39; Mar 24, 2026 $0.60; Jun 23, 2026 $0.53; Sep 22, 2026 $1.00. Use the arrow keys to read each point.$0$102017202020232026YTD
UTSLQuarterly · 37 paymentsAll UTSL payments⁠
One bar per payment. 37 payments from 2017 to 2026 YTD. Dec 19, 2017 $0.16; Mar 20, 2018 $0.11; Jun 19, 2018 $0.13; Sep 25, 2018 $0.15; Mar 19, 2019 $0.34; Jun 25, 2019 $0.18; Sep 24, 2019 $0.18; Dec 12, 2019 $1.34; Dec 23, 2019 $0.24; Mar 24, 2020 $0.15; Jun 23, 2020 $0.06; Sep 22, 2020 $0.07; Dec 22, 2020 $0.10; Mar 23, 2021 $0.09; Jun 22, 2021 $0.09; Sep 21, 2021 $0.08; Dec 9, 2021 $0.08; Dec 21, 2021 $0.13; Mar 22, 2022 $0.09; Jun 22, 2022 $0.13; Sep 20, 2022 $0.16; Dec 20, 2022 $0.02; Mar 21, 2023 $0.31; Jun 21, 2023 $0.12; Sep 19, 2023 $0.14; Dec 21, 2023 $0.19; Mar 19, 2024 $0.15; Jun 25, 2024 $0.18; Sep 24, 2024 $0.09; Dec 23, 2024 $0.10; Mar 25, 2025 $0.21; Jun 24, 2025 $0.16; Sep 23, 2025 $0.18; Dec 23, 2025 $0.14; Mar 24, 2026 $0.26; Jun 23, 2026 $0.13; Sep 22, 2026 $0.40. Use the arrow keys to read each point.$0$102017202020232026YTD

FAS vs UTSL Risk

Fall from peak · 5 years

  • FAS
  • UTSL
Oct 29, 2021 to Oct 30, 2026. Worst fall: FAS −66.9% · Oct 2023. Use the arrow keys to read each point.−60%−40%−20%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
FAS 46.3%, betterUTSL 48.3%
Return per unit of riskSharpe ratio, 3 years
FAS 1.03, betterUTSL 0.71
Worst fallMax drawdown, 5 years
FAS −66.9%, betterUTSL −68.0%
Market sensitivityBeta, 5 years
FAS 2.63UTSL 1.20

Popular comparisons

  • FASAvsTQQQA

    Direxion Daily Financial Bull 3X ETF · ProShares UltraPro QQQ

    Expense ratio
    0.88% · 0.78%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • UTSLCvsTQQQA

    Direxion Daily Utilities Bull 3X ETF · ProShares UltraPro QQQ

    Expense ratio
    0.97% · 0.78%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • FASAvsUDOWA

    Direxion Daily Financial Bull 3X ETF · ProShares UltraPro Dow30

    Expense ratio
    0.88% · 0.94%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • UTSLCvsUDOWA

    Direxion Daily Utilities Bull 3X ETF · ProShares UltraPro Dow30

    Expense ratio
    0.97% · 0.94%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • FASAvsSOXLA

    Direxion Daily Financial Bull 3X ETF · Direxion Daily Semiconductor Bull 3X ETF

    Expense ratio
    0.88% · 0.75%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • UTSLCvsSOXLA

    Direxion Daily Utilities Bull 3X ETF · Direxion Daily Semiconductor Bull 3X ETF

    Expense ratio
    0.97% · 0.75%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.