FAS vs. QQQ
Compare and contrast key facts about Direxion Daily Financial Bull 3X Shares (FAS) and Invesco QQQ (QQQ).
FAS and QQQ 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. QQQ is a passively managed fund by Invesco that tracks the performance of the NASDAQ-100 Index. It was launched on Mar 10, 1999. Both FAS and QQQ 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 QQQ.
Key characteristics
| FAS | QQQ | |
|---|---|---|
| YTD Return | 29.59% | 8.34% |
| 1Y Return | 98.35% | 37.23% |
| 3Y Return (Ann) | -2.94% | 11.48% |
| 5Y Return (Ann) | 10.91% | 20.20% |
| 10Y Return (Ann) | 18.10% | 18.61% |
| Sharpe Ratio | 2.61 | 2.27 |
| Daily Std Dev | 36.75% | 16.23% |
| Max Drawdown | -94.81% | -82.98% |
| Current Drawdown | -27.60% | -0.74% |
Correlation
The correlation between FAS and QQQ is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
FAS vs. QQQ - Performance Comparison
In the year-to-date period, FAS achieves a 29.59% return, which is significantly higher than QQQ's 8.34% return. Both investments have delivered pretty close results over the past 10 years, with FAS having a 18.10% annualized return and QQQ not far ahead at 18.61%. 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. QQQ - Expense Ratio Comparison
FAS has a 1.00% expense ratio, which is higher than QQQ's 0.20% expense ratio.
Risk-Adjusted Performance
FAS vs. QQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Financial Bull 3X Shares (FAS) and Invesco QQQ (QQQ). 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. QQQ - Dividend Comparison
FAS's dividend yield for the trailing twelve months is around 1.56%, more than QQQ's 0.59% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAS Direxion Daily Financial Bull 3X Shares | 1.56% | 1.77% | 0.91% | 0.60% | 0.47% | 0.62% | 1.43% | 0.11% | 0.00% | 0.00% | 0.00% | 0.00% |
QQQ Invesco QQQ | 0.59% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% | 1.41% | 1.01% |
Drawdowns
FAS vs. QQQ - Drawdown Comparison
The maximum FAS drawdown since its inception was -94.81%, which is greater than QQQ's maximum drawdown of -82.98%. Use the drawdown chart below to compare losses from any high point for FAS and QQQ. For additional features, visit the drawdowns tool.
Volatility
FAS vs. QQQ - Volatility Comparison
Direxion Daily Financial Bull 3X Shares (FAS) has a higher volatility of 8.61% compared to Invesco QQQ (QQQ) at 5.23%. This indicates that FAS's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.