FAS vs. IAI
Compare and contrast key facts about Direxion Daily Financial Bull 3X Shares (FAS) and iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI).
FAS and IAI 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. IAI is a passively managed fund by iShares that tracks the performance of the DJ US Select / Investment Services. It was launched on May 1, 2006. Both FAS and IAI 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 IAI.
Key characteristics
| FAS | IAI | |
|---|---|---|
| YTD Return | 103.28% | 38.91% |
| 1Y Return | 177.87% | 62.53% |
| 3Y Return (Ann) | 6.63% | 11.77% |
| 5Y Return (Ann) | 15.73% | 19.82% |
| 10Y Return (Ann) | 20.00% | 15.79% |
| Sharpe Ratio | 4.30 | 3.77 |
| Sortino Ratio | 4.47 | 5.21 |
| Omega Ratio | 1.58 | 1.69 |
| Calmar Ratio | 2.98 | 3.82 |
| Martin Ratio | 28.78 | 29.40 |
| Ulcer Index | 6.12% | 2.12% |
| Daily Std Dev | 40.96% | 16.52% |
| Max Drawdown | -94.81% | -75.33% |
| Current Drawdown | -0.90% | -0.74% |
Correlation
The correlation between FAS and IAI is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
FAS vs. IAI - Performance Comparison
In the year-to-date period, FAS achieves a 103.28% return, which is significantly higher than IAI's 38.91% return. Over the past 10 years, FAS has outperformed IAI with an annualized return of 20.00%, while IAI has yielded a comparatively lower 15.79% 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. IAI - Expense Ratio Comparison
FAS has a 1.00% expense ratio, which is higher than IAI's 0.41% expense ratio.
Risk-Adjusted Performance
FAS vs. IAI - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Financial Bull 3X Shares (FAS) and iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI). 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. IAI - Dividend Comparison
FAS's dividend yield for the trailing twelve months is around 0.80%, less than IAI's 1.01% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAS Direxion Daily Financial Bull 3X Shares | 0.80% | 1.77% | 0.91% | 0.60% | 0.47% | 0.62% | 1.43% | 0.11% | 0.00% | 0.00% | 0.00% | 0.00% |
IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF | 1.01% | 1.80% | 2.14% | 1.31% | 1.55% | 1.52% | 1.58% | 1.37% | 1.48% | 1.31% | 1.13% | 1.13% |
Drawdowns
FAS vs. IAI - Drawdown Comparison
The maximum FAS drawdown since its inception was -94.81%, which is greater than IAI's maximum drawdown of -75.33%. Use the drawdown chart below to compare losses from any high point for FAS and IAI. For additional features, visit the drawdowns tool.
Volatility
FAS vs. IAI - Volatility Comparison
Direxion Daily Financial Bull 3X Shares (FAS) has a higher volatility of 20.34% compared to iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) at 8.94%. This indicates that FAS's price experiences larger fluctuations and is considered to be riskier than IAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.