FAS vs. BRZU

Last updated Jul 22, 2026

FAS (Direxion Daily Financial Bull 3X ETF) and BRZU (Direxion Daily Brazil Bull 2X Shares) are both Leveraged Equities funds from Direxion - FAS tracks the Financial Select Sector Index while BRZU tracks the MSCI Brazil 25/50 Index. Both are passively managed. Over the past 10 years, FAS returned 21.50%/yr vs -19.99%/yr for BRZU. At a 0.41 correlation, their price movements are largely independent. FAS charges 0.88%/yr vs 1.29%/yr for BRZU.

Performance

FAS vs. BRZU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Financial Bull 3X ETF (FAS) and Direxion Daily Brazil Bull 2X Shares (BRZU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FAS achieves a 0.21% return, which is significantly lower than BRZU's 19.49% return. Over the past 10 years, FAS has outperformed BRZU with an annualized return of 21.50%, while BRZU has yielded a comparatively lower -19.99% annualized return.

FAS

• 1D: 0.34%
• 1M: 14.66%
• 6M: 10.47%
• YTD: 0.21%
• 1Y: 9.01%
• 3Y*: 37.42%
• 5Y*: 13.19%
• 10Y*: 21.50%
• ALL TIME*: 13.87%

BRZU

• 1D: 0.96%
• 1M: 10.98%
• 6M: 7.54%
• YTD: 19.49%
• 1Y: 68.34%
• 3Y*: 4.99%
• 5Y*: -0.23%
• 10Y*: -19.99%
• ALL TIME*: -30.13%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FAS vs. BRZU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAS Direxion Daily Financial Bull 3X ETF	0.21%	21.48%	84.47%	14.92%	-43.19%	116.59%	-34.97%	113.04%	-33.84%	67.37%
BRZU Direxion Daily Brazil Bull 2X Shares	19.49%	97.99%	-57.07%	55.48%	8.30%	-39.23%	-91.34%	57.02%	-37.21%	30.80%

Correlation

The correlation between FAS and BRZU is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.39
Correlation (All Time) Calculated using the full available price history since Apr 10, 2013	0.41

FAS vs. BRZU - Sectors Allocation Comparison

Sectors	FAS	BRZU
Financial Services	98.2%	34.5%
Technology	1.6%	0.4%
Industrials	0.2%	11.6%
Basic Materials	-	14.5%
Communication Services	-	2.1%
Consumer Cyclical	-	1.4%
Consumer Defensive	-	4.7%
Energy	-	15.1%
Healthcare	-	2.2%
Real Estate	-	-
Utilities	-	13.5%

Return for Risk

FAS vs. BRZU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FAS

FAS Risk / Return Rank: 15
FAS Sharpe Ratio Rank: 14
FAS Sortino Ratio Rank: 16
FAS Omega Ratio Rank: 16
FAS Calmar Ratio Rank: 14
FAS Martin Ratio Rank: 14

BRZU

BRZU Risk / Return Rank: 49
BRZU Sharpe Ratio Rank: 53
BRZU Sortino Ratio Rank: 50
BRZU Omega Ratio Rank: 50
BRZU Calmar Ratio Rank: 50
BRZU Martin Ratio Rank: 40

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FAS vs. BRZU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Financial Bull 3X ETF (FAS) and Direxion Daily Brazil Bull 2X Shares (BRZU). 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.

	FAS	BRZU	Difference
Sharpe ratio: Return per unit of total volatility	0.21	1.39	-1.18
Sortino ratio: Return per unit of downside risk	0.58	1.91	-1.33
Omega ratio: Gain probability vs. loss probability	1.07	1.24	-0.17
Calmar ratio: Return relative to maximum drawdown	0.22	1.91	-1.69
Martin ratio: Return relative to average drawdown	0.49	4.63	-4.14

FAS vs. BRZU - Sharpe Ratio Comparison

The current FAS Sharpe Ratio is 0.21, which is lower than the BRZU Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of FAS and BRZU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FAS vs. BRZU - Drawdown Comparison

The maximum FAS drawdown since its inception was -91.61%, smaller than the maximum BRZU drawdown of -99.71%. Use the drawdown chart below to compare losses from any high point for FAS and BRZU.

Drawdown Indicators

	FAS	BRZU	Difference
Max Drawdown Largest peak-to-trough decline	-91.61%	-99.71%	+8.10%
Max Drawdown (1Y) Largest decline over 1 year	-40.88%	-35.97%	-4.91%
Max Drawdown (3Y) Largest decline over 3 years	-43.10%	-58.25%	+15.15%
Max Drawdown (5Y) Largest decline over 5 years	-66.88%	-62.89%	-3.99%
Max Drawdown (10Y) Largest decline over 10 years	-85.99%	-98.11%	+12.12%
Current Drawdown Current decline from peak	-8.06%	-99.14%	+91.08%
Average Drawdown Average peak-to-trough decline	-31.02%	-89.62%	+58.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.46%	14.80%	+3.66%

Volatility

FAS vs. BRZU - Volatility Comparison

Direxion Daily Financial Bull 3X ETF (FAS) and Direxion Daily Brazil Bull 2X Shares (BRZU) have volatilities of 11.68% and 11.19%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAS	BRZU	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.68%	11.19%	+0.49%
Volatility (6M) Calculated over the trailing 6-month period	33.49%	39.80%	-6.31%
Volatility (1Y) Calculated over the trailing 1-year period	43.44%	49.55%	-6.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.96%	55.16%	-0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.10%	82.28%	-21.18%

FAS vs. BRZU - Expense Ratio Comparison

FAS has a 0.88% expense ratio, which is lower than BRZU's 1.29% expense ratio.

Dividends

FAS vs. BRZU - Dividend Comparison

FAS's dividend yield for the trailing twelve months is around 8.37%, more than BRZU's 1.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BRZU Direxion Daily Brazil Bull 2X Shares	1.89%	2.39%	8.73%	3.24%	4.70%	6.29%	0.78%	0.95%	1.04%	0.74%
FAS Direxion Daily Financial Bull 3X ETF	8.37%	8.21%	0.76%	1.77%	0.91%	0.60%	0.47%	0.62%	1.43%	0.11%

Frequently Asked Questions

Can I hold both FAS and BRZU in my portfolio?

FAS and BRZU have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FAS or BRZU?

FAS has higher volatility (11.68%) compared to BRZU (11.19%). In terms of maximum drawdown, FAS dropped -91.61% vs BRZU's -99.71%.

Which ETF is better, FAS or BRZU?

On 10-year performance, FAS leads with 21.50% vs -19.99% for BRZU. On fees, FAS is cheaper at 0.88% per year. On volatility, BRZU has been the lower-risk option at 11.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FAS or BRZU?

Over the 10-year period, FAS has performed better with a 21.50% return vs -19.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FAS or BRZU?

FAS is cheaper with a 0.88% expense ratio, compared with 1.29% for BRZU.

Which ETF pays a higher dividend yield, FAS or BRZU?

FAS has the higher dividend yield at 8.37%, compared with 1.89% for BRZU.

What is the main difference between FAS and BRZU?

FAS tracks Financial Select Sector Index, while BRZU tracks MSCI Brazil 25/50 Index. Their fees differ too: 0.88% for FAS and 1.29% for BRZU.

Which has better risk-adjusted returns?

BRZU currently has the higher Sharpe Ratio (1.39 vs 0.21), 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.