- ISIN
- US25459Y6941
- CUSIP
- 25459Y694
- Issuer
- Direxion
- Inception Date
- Nov 6, 2008
- Region
- North America (U.S.)
- Category
- Leveraged Equities
- Leveraged
- 3x
- Index Tracked
- Russell 1000 Financial Services Index (300%)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $2B
Share Price Chart
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Performance
FAS Performance Chart
Direxion Daily Financial Bull 3X Shares (FAS) is down 11.1% since the beginning of the year. FAS is currently trading at $149 per share. Investors who bought $1,000 worth of FAS shares 5 years ago would now be looking at an investment worth $1,639.
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Returns By Period
Direxion Daily Financial Bull 3X Shares (FAS) has returned -11.10% so far this year and 8.67% over the past 12 months. Looking at the last ten years, FAS has achieved an annualized return of 22.42%, outperforming the S&P 500 Index benchmark, which averaged 13.88% per year.
Direxion Daily Financial Bull 3X Shares
- 1D
- 1.72%
- 1M
- 10.36%
- YTD
- -11.10%
- 6M
- -14.01%
- 1Y
- 8.67%
- 3Y*
- 41.61%
- 5Y*
- 10.39%
- 10Y*
- 22.42%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
FAS Monthly Returns History
Based on dividend-adjusted daily data since Nov 19, 2008, FAS's average daily return is +0.16%, while the average monthly return is +2.59%. At this rate, an investment would double in approximately 2.3 years.
Historically, 58% of months were positive and 42% were negative. The best month was Nov 2020 with a return of +52.6%, while the worst month was Mar 2020 at -64.9%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 5 months.
On a daily basis, FAS closed higher 54% of trading days. The best single day was Mar 23, 2009 with a return of +41.3%, while the worst single day was Dec 1, 2008 at -43.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -8.49% | -12.50% | -11.64% | 16.39% | -4.38% | 12.90% | -11.10% | ||||||
| 2025 | 18.90% | 2.82% | -14.08% | -12.24% | 12.42% | 8.41% | -1.32% | 8.20% | -0.96% | -9.72% | 4.43% | 8.47% | 21.48% |
| 2024 | 7.68% | 11.28% | 13.69% | -13.17% | 8.13% | -3.88% | 18.64% | 11.89% | -2.95% | 6.56% | 31.59% | -16.94% | 84.47% |
| 2023 | 20.11% | -7.72% | -29.04% | 8.43% | -13.96% | 19.38% | 13.86% | -9.08% | -10.33% | -9.05% | 34.33% | 15.67% | 14.92% |
| 2022 | -2.15% | -5.65% | -2.59% | -29.23% | 8.38% | -29.89% | 21.30% | -7.53% | -23.17% | 36.01% | 19.63% | -16.22% | -43.19% |
| 2021 | -6.23% | 36.50% | 16.94% | 19.04% | 12.55% | -10.10% | -2.12% | 16.14% | -6.83% | 25.18% | -15.91% | 7.77% | 116.59% |
Benchmark Metrics
Direxion Daily Financial Bull 3X Shares has an annualized alpha of -8.19%, beta of 3.48, and R2 of 0.76 versus S&P 500 Index. Calculated based on daily prices since November 19, 2008.
- This ETF captured 401.14% of S&P 500 Index gains and 234.59% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- This ETF had an annualized alpha of -8.19% versus S&P 500 Index - delivering less than market exposure alone would predict.
- Beta of 3.48 means this ETF moves significantly more than S&P 500 Index - expect amplified gains in rallies and amplified losses in downturns.
- Alpha
- -8.19%
- Beta
- 3.48
- R²
- 0.76
- Upside Capture
- 401.14%
- Downside Capture
- 234.59%
Expense Ratio
FAS has a high expense ratio of 1.00%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
FAS ranks 11 for risk / return — in the bottom 11% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Direxion Daily Financial Bull 3X Shares (FAS) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FAS | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.83 | ||
| Sortino ratioReturn per unit of downside risk | -2.19 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.37 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.21 | 2.78 | -2.57 |
| Martin ratioReturn relative to average drawdown | 0.48 | 12.44 | -11.96 |
Dividends
Dividend History
Direxion Daily Financial Bull 3X Shares provided a 9.38% dividend yield over the last twelve months, with an annual payout of $13.97 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $13.97 | $13.82 | $1.14 | $1.46 | $0.67 | $0.78 | $0.29 | $0.58 | $0.64 | $0.08 |
Dividend yield | 9.38% | 8.21% | 0.76% | 1.77% | 0.91% | 0.60% | 0.47% | 0.62% | 1.43% | 0.11% |
Monthly Dividends
The table displays the monthly dividend distributions for Direxion Daily Financial Bull 3X Shares. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.60 | $0.00 | $0.00 | $0.00 | $0.60 | ||||||
| 2025 | $0.00 | $0.00 | $0.46 | $0.00 | $0.00 | $0.50 | $0.00 | $0.00 | $0.39 | $0.00 | $0.00 | $12.48 | $13.82 |
| 2024 | $0.00 | $0.00 | $0.36 | $0.00 | $0.00 | $0.27 | $0.00 | $0.00 | $0.32 | $0.00 | $0.00 | $0.19 | $1.14 |
| 2023 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.62 | $0.00 | $0.00 | $0.29 | $0.00 | $0.00 | $0.38 | $1.46 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.22 | $0.00 | $0.00 | $0.33 | $0.67 |
| 2021 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.36 | $0.78 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Direxion Daily Financial Bull 3X Shares. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Direxion Daily Financial Bull 3X Shares was 91.61%, occurring on Mar 6, 2009. Recovery took 1208 trading sessions.
The current Direxion Daily Financial Bull 3X Shares drawdown is 18.43%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -91.61%Mar 2009 | 2mo 27d | 4y 9mo | 5y 12dDec 2008 - Dec 2013 |
COVID crash2020 | -85.99%Mar 2020 | 1mo 4d | 1y 1mo | 1y 2moFeb 2020 - Apr 2021 |
2023 bear market2023 | -66.88%Oct 2023 | 1y 9mo | 11mo 25d | 2y 9moJan 2022 - Oct 2024 |
Rate-hike selloffLate 2018 | -53.73%Dec 2018 | 10mo 29d | 7mo 2d | 1y 5moJan 2018 - Jul 2019 |
2016 bear market2016 | -53.35%Feb 2016 | 6mo 23d | 9mo 7d | 1y 3moJul 2015 - Nov 2016 |
Drawdown Indicators
| FAS | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.61% | -56.78% | -34.83% |
Max Drawdown (1Y)Largest decline over 1 year | -40.88% | -9.10% | -31.78% |
Max Drawdown (3Y)Largest decline over 3 years | -43.10% | -18.90% | -24.20% |
Max Drawdown (5Y)Largest decline over 5 years | -66.88% | -25.43% | -41.45% |
Max Drawdown (10Y)Largest decline over 10 years | -85.99% | -33.92% | -52.07% |
Current DrawdownCurrent decline from peak | -18.43% | -1.80% | -16.63% |
Average DrawdownAverage peak-to-trough decline | -31.10% | -10.71% | -20.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.14% | 2.03% | +16.11% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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