FAS vs. QTJL
FAS (Direxion Daily Financial Bull 3X ETF) and QTJL (Innovator Growth Accelerated Plus ETF - July) are both Leveraged Equities funds. FAS is passively managed, while QTJL is actively managed. Over the past 5 years, FAS returned 13.37%/yr vs 9.06%/yr for QTJL. Their 0.57 correlation means they have sometimes moved together and sometimes differently. FAS charges 0.88%/yr vs 0.79%/yr for QTJL.
Performance
FAS vs. QTJL - Performance Comparison
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Returns By Period
In the year-to-date period, FAS achieves a 4.28% return, which is significantly higher than QTJL's 2.56% return.
FAS
- 1D
- -0.26%
- 1M
- 6.21%
- 6M
- 13.95%
- YTD
- 4.28%
- 1Y
- 20.90%
- 3Y*
- 39.15%
- 5Y*
- 13.37%
- 10Y*
- 22.40%
- ALL TIME*
- 14.10%
QTJL
- 1D
- 0.93%
- 1M
- -1.97%
- 6M
- 1.77%
- YTD
- 2.56%
- 1Y
- 11.97%
- 3Y*
- 15.99%
- 5Y*
- 9.06%
- 10Y*
- —
- ALL TIME*
- 9.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $68.48M | $83.31M | $86.79M | |
| $200.88K | $354.66K | $247.25K |
FAS vs. QTJL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FAS Direxion Daily Financial Bull 3X ETF | 4.28% | 21.48% | 84.47% | 14.92% | -43.19% | 20.14% |
QTJL Innovator Growth Accelerated Plus ETF - July | 2.56% | 21.07% | 16.50% | 42.39% | -30.16% | 9.36% |
Correlation
The correlation between FAS and QTJL is 0.38, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.38 |
Correlation (3Y) Balances recent behavior with more history. | 0.45 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.57 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021 | 0.57 |
The correlation between FAS and QTJL shifts across timeframes, from 0.38 (1 year) to 0.57 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FAS vs. QTJL — Risk / Return Rank
FAS
QTJL
FAS vs. QTJL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Financial Bull 3X ETF (FAS) and Innovator Growth Accelerated Plus ETF - July (QTJL). 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 | QTJL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.18 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.35 | 1.23 | -0.88 |
| Martin ratioReturn relative to average drawdown | 0.78 | 6.04 | -5.26 |
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Drawdowns
FAS vs. QTJL - Drawdown Comparison
The maximum FAS drawdown since its inception was -91.61%, which is greater than QTJL's maximum drawdown of -33.40%. Use the drawdown chart below to compare losses from any high point for FAS and QTJL.
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Drawdown Indicators
| FAS | QTJL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.61% | -33.40% | -58.21% |
Max Drawdown (1Y)Largest decline over 1 year | -40.88% | -8.48% | -32.40% |
Max Drawdown (3Y)Largest decline over 3 years | -43.10% | -22.43% | -20.67% |
Max Drawdown (5Y)Largest decline over 5 years | -66.88% | -33.40% | -33.48% |
Max Drawdown (10Y)Largest decline over 10 years | -85.99% | — | — |
Current DrawdownCurrent decline from peak | -4.32% | -4.62% | +0.30% |
Average DrawdownAverage peak-to-trough decline | -30.97% | -7.74% | -23.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.40% | 1.73% | +16.67% |
Volatility
FAS vs. QTJL - Volatility Comparison
Direxion Daily Financial Bull 3X ETF (FAS) has a higher volatility of 11.99% compared to Innovator Growth Accelerated Plus ETF - July (QTJL) at 6.45%. This indicates that FAS's price experiences larger fluctuations and is considered to be riskier than QTJL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAS | QTJL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.99% | 6.45% | +5.54% |
Volatility (6M)Calculated over the trailing 6-month period | 32.90% | 9.63% | +23.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.83% | 11.72% | +32.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 54.99% | 20.43% | +34.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.11% | 20.30% | +40.81% |
FAS vs. QTJL - Expense Ratio Comparison
FAS has a 0.88% expense ratio, which is higher than QTJL's 0.79% expense ratio.
Dividends
FAS vs. QTJL - Dividend Comparison
FAS's dividend yield for the trailing twelve months is around 8.05%, while QTJL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FAS Direxion Daily Financial Bull 3X ETF | 8.05% | 8.21% | 0.76% | 1.77% | 0.91% | 0.60% | 0.47% | 0.62% | 1.43% | 0.11% |
QTJL Innovator Growth Accelerated Plus ETF - July | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FAS and QTJL have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FAS has higher volatility (11.99%) compared to QTJL (6.45%). In terms of maximum drawdown, FAS dropped -91.61% vs QTJL's -33.40%.
On 5-year performance, FAS leads with 13.37% vs 9.06% for QTJL. On fees, QTJL is cheaper at 0.79% per year. On volatility, QTJL has been the lower-risk option at 6.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FAS has performed better with a 13.37% return vs 9.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QTJL is cheaper with a 0.79% expense ratio, compared with 0.88% for FAS.
FAS has the higher dividend yield at 8.05%, compared with 0.00% for QTJL.
They also come from different issuers: Direxion and Innovator. Their fees differ too: 0.88% for FAS and 0.79% for QTJL.
QTJL currently has the higher Sharpe Ratio (0.89 vs 0.33), 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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