FAS vs. FAZ
Compare and contrast key facts about Direxion Daily Financial Bull 3X Shares (FAS) and Direxion Daily Financial Bear 3X Shares (FAZ).
FAS and FAZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FAS is a passively managed fund by Direxion that tracks the performance of the Russell 1000 Financial Services Index (300%). It was launched on Nov 6, 2008. FAZ is a passively managed fund by Direxion that tracks the performance of the Russell 1000 Financial Services Index (-300%). It was launched on Nov 6, 2008. Both FAS and FAZ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FAS or FAZ.
Key characteristics
| FAS | FAZ | |
|---|---|---|
| YTD Return | 103.51% | -55.15% |
| 1Y Return | 162.79% | -65.36% |
| 3Y Return (Ann) | 6.66% | -29.95% |
| 5Y Return (Ann) | 15.54% | -51.93% |
| 10Y Return (Ann) | 20.01% | -44.40% |
| Sharpe Ratio | 4.35 | -1.64 |
| Sortino Ratio | 4.50 | -3.12 |
| Omega Ratio | 1.59 | 0.65 |
| Calmar Ratio | 3.14 | -0.67 |
| Martin Ratio | 29.10 | -1.65 |
| Ulcer Index | 6.12% | 40.82% |
| Daily Std Dev | 40.95% | 40.99% |
| Max Drawdown | -94.81% | -100.00% |
| Current Drawdown | -0.79% | -100.00% |
Correlation
The correlation between FAS and FAZ is -0.97. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
FAS vs. FAZ - Performance Comparison
In the year-to-date period, FAS achieves a 103.51% return, which is significantly higher than FAZ's -55.15% return. Over the past 10 years, FAS has outperformed FAZ with an annualized return of 20.01%, while FAZ has yielded a comparatively lower -44.40% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FAS vs. FAZ - Expense Ratio Comparison
FAS has a 1.00% expense ratio, which is lower than FAZ's 1.07% expense ratio.
Risk-Adjusted Performance
FAS vs. FAZ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Financial Bull 3X Shares (FAS) and Direxion Daily Financial Bear 3X Shares (FAZ). 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.
Dividends
FAS vs. FAZ - Dividend Comparison
FAS's dividend yield for the trailing twelve months is around 0.80%, less than FAZ's 8.64% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
FAS Direxion Daily Financial Bull 3X Shares | 0.80% | 1.77% | 0.91% | 0.60% | 0.47% | 0.62% | 1.43% | 0.11% |
FAZ Direxion Daily Financial Bear 3X Shares | 8.64% | 4.88% | 0.00% | 0.00% | 0.62% | 1.62% | 0.57% | 0.00% |
Drawdowns
FAS vs. FAZ - Drawdown Comparison
The maximum FAS drawdown since its inception was -94.81%, smaller than the maximum FAZ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for FAS and FAZ. For additional features, visit the drawdowns tool.
Volatility
FAS vs. FAZ - Volatility Comparison
The current volatility for Direxion Daily Financial Bull 3X Shares (FAS) is 20.35%, while Direxion Daily Financial Bear 3X Shares (FAZ) has a volatility of 22.87%. This indicates that FAS experiences smaller price fluctuations and is considered to be less risky than FAZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.