DGS vs. FAS
DGS (WisdomTree Emerging Markets SmallCap Dividend Fund) and FAS (Direxion Daily Financial Bull 3X Shares) are both exchange-traded funds - DGS is a Emerging Markets Diversified fund tracking the WisdomTree Emerging Markets SmallCap Dividend Index, while FAS is a Leveraged Equities fund tracking the Russell 1000 Financial Services Index (300%). Both are passively managed. Over the past 10 years, DGS returned 10.14%/yr vs 21.20%/yr for FAS. A 0.60 correlation means they provide meaningful diversification when combined. DGS charges 0.58%/yr vs 1.00%/yr for FAS.
Performance
DGS vs. FAS - Performance Comparison
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Returns By Period
In the year-to-date period, DGS achieves a 14.94% return, which is significantly higher than FAS's -13.50% return. Over the past 10 years, DGS has underperformed FAS with an annualized return of 10.14%, while FAS has yielded a comparatively higher 21.20% annualized return.
DGS
- 1D
- 0.65%
- 1M
- 1.51%
- YTD
- 14.94%
- 6M
- 17.07%
- 1Y
- 25.61%
- 3Y*
- 15.36%
- 5Y*
- 8.06%
- 10Y*
- 10.14%
FAS
- 1D
- 4.15%
- 1M
- 10.95%
- YTD
- -13.50%
- 6M
- -13.89%
- 1Y
- 7.93%
- 3Y*
- 38.21%
- 5Y*
- 7.30%
- 10Y*
- 21.20%
DGS vs. FAS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DGS WisdomTree Emerging Markets SmallCap Dividend Fund | 14.94% | 21.18% | 1.13% | 19.08% | -12.35% | 15.33% | 4.06% | 18.90% | -16.52% | 37.47% |
FAS Direxion Daily Financial Bull 3X Shares | -13.50% | 21.48% | 84.47% | 14.92% | -43.19% | 116.59% | -34.97% | 113.04% | -33.84% | 67.37% |
Correlation
The correlation between DGS and FAS is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Nov 19, 2008 | 0.60 |
Over the past year, the correlation between DGS and FAS has dropped to 0.36 - well below their long-term average of 0.60, suggesting their price drivers have been diverging.
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Return for Risk
DGS vs. FAS — Risk / Return Rank
DGS
FAS
DGS vs. FAS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) and Direxion Daily Financial Bull 3X Shares (FAS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| DGS | FAS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.41 | ||
| Sortino ratioReturn per unit of downside risk | +1.68 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.04 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | 0.03 | +2.34 |
| Martin ratioReturn relative to average drawdown | 7.84 | 0.08 | +7.77 |
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Drawdowns
DGS vs. FAS - Drawdown Comparison
The maximum DGS drawdown since its inception was -61.83%, smaller than the maximum FAS drawdown of -91.61%. Use the drawdown chart below to compare losses from any high point for DGS and FAS.
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Drawdown Indicators
| DGS | FAS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.83% | -91.61% | +29.78% |
Max Drawdown (1Y)Largest decline over 1 year | -10.06% | -40.88% | +30.82% |
Max Drawdown (3Y)Largest decline over 3 years | -19.31% | -43.10% | +23.79% |
Max Drawdown (5Y)Largest decline over 5 years | -24.86% | -66.88% | +42.02% |
Max Drawdown (10Y)Largest decline over 10 years | -44.08% | -85.99% | +41.91% |
Current DrawdownCurrent decline from peak | -1.05% | -20.63% | +19.58% |
Average DrawdownAverage peak-to-trough decline | -12.57% | -31.12% | +18.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.05% | 17.97% | -14.92% |
Volatility
DGS vs. FAS - Volatility Comparison
The current volatility for WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) is 7.30%, while Direxion Daily Financial Bull 3X Shares (FAS) has a volatility of 12.45%. This indicates that DGS experiences smaller price fluctuations and is considered to be less risky than FAS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DGS | FAS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.30% | 12.45% | -5.15% |
Volatility (6M)Calculated over the trailing 6-month period | 14.27% | 33.46% | -19.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.60% | 43.61% | -27.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.08% | 55.59% | -40.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.39% | 61.33% | -43.94% |
DGS vs. FAS - Expense Ratio Comparison
DGS has a 0.58% expense ratio, which is lower than FAS's 1.00% expense ratio.
Dividends
DGS vs. FAS - Dividend Comparison
DGS's dividend yield for the trailing twelve months is around 3.20%, less than FAS's 9.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DGS WisdomTree Emerging Markets SmallCap Dividend Fund | 3.20% | 3.45% | 3.36% | 4.55% | 5.34% | 3.98% | 3.69% | 3.95% | 4.24% | 2.81% | 3.42% | 3.28% |
FAS Direxion Daily Financial Bull 3X Shares | 9.64% | 8.21% | 0.76% | 1.77% | 0.91% | 0.60% | 0.47% | 0.62% | 1.43% | 0.11% | 0.00% | 0.00% |
Frequently Asked Questions
DGS and FAS have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FAS has higher volatility (12.45%) compared to DGS (7.30%). In terms of maximum drawdown, DGS dropped -61.83% vs FAS's -91.61%.
On 10-year performance, FAS leads with 21.20% vs 10.14% for DGS. On fees, DGS is cheaper at 0.58% per year. On volatility, DGS has been the lower-risk option at 7.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FAS has performed better with a 21.20% return vs 10.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DGS is cheaper with a 0.58% expense ratio, compared with 1.00% for FAS.
FAS has the higher dividend yield at 9.64%, compared with 3.20% for DGS.
DGS is categorized as Emerging Markets Diversified, while FAS is Leveraged Equities. DGS tracks WisdomTree Emerging Markets SmallCap Dividend Index, while FAS tracks Russell 1000 Financial Services Index (300%). They also come from different issuers: WisdomTree and Direxion. Their fees differ too: 0.58% for DGS and 1.00% for FAS.
DGS currently has the higher Sharpe Ratio (1.44 vs 0.03), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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