FAS vs. UCC
FAS (Direxion Daily Financial Bull 3X Shares) and UCC (ProShares Ultra Consumer Services) are both Leveraged Equities funds - FAS tracks the Russell 1000 Financial Services Index (300%) while UCC tracks the Dow Jones U.S. Consumer Services Index (200%). Both are passively managed. Over the past 10 years, FAS returned 21.20%/yr vs 13.99%/yr for UCC. A 0.64 correlation means they provide meaningful diversification when combined. FAS charges 1.00%/yr vs 0.95%/yr for UCC.
Performance
FAS vs. UCC - Performance Comparison
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Returns By Period
In the year-to-date period, FAS achieves a -13.50% return, which is significantly lower than UCC's -8.62% return. Over the past 10 years, FAS has outperformed UCC with an annualized return of 21.20%, while UCC has yielded a comparatively lower 13.99% annualized return.
FAS
- 1D
- 4.15%
- 1M
- 10.95%
- YTD
- -13.50%
- 6M
- -13.89%
- 1Y
- 7.93%
- 3Y*
- 38.21%
- 5Y*
- 7.30%
- 10Y*
- 21.20%
UCC
- 1D
- 0.57%
- 1M
- -4.37%
- YTD
- -8.62%
- 6M
- -10.29%
- 1Y
- 12.48%
- 3Y*
- 14.37%
- 5Y*
- -0.24%
- 10Y*
- 13.99%
FAS vs. UCC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FAS Direxion Daily Financial Bull 3X Shares | -13.50% | 21.48% | 84.47% | 14.92% | -43.19% | 116.59% | -34.97% | 113.04% | -33.84% | 67.37% |
UCC ProShares Ultra Consumer Services | -8.62% | 2.21% | 44.24% | 61.67% | -57.59% | 20.92% | 46.55% | 53.76% | -4.94% | 42.05% |
Correlation
The correlation between FAS and UCC is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Nov 19, 2008 | 0.64 |
The correlation between FAS and UCC has been stable across timeframes, ranging from 0.54 to 0.64 - a consistent structural relationship.
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Return for Risk
FAS vs. UCC — Risk / Return Rank
FAS
UCC
FAS vs. UCC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Financial Bull 3X Shares (FAS) and ProShares Ultra Consumer Services (UCC). 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 | UCC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.08 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.03 | 0.35 | -0.32 |
| Martin ratioReturn relative to average drawdown | 0.08 | 0.97 | -0.89 |
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Drawdowns
FAS vs. UCC - Drawdown Comparison
The maximum FAS drawdown since its inception was -91.61%, which is greater than UCC's maximum drawdown of -83.05%. Use the drawdown chart below to compare losses from any high point for FAS and UCC.
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Drawdown Indicators
| FAS | UCC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.61% | -83.05% | -8.56% |
Max Drawdown (1Y)Largest decline over 1 year | -40.88% | -29.14% | -11.74% |
Max Drawdown (3Y)Largest decline over 3 years | -43.10% | -48.01% | +4.91% |
Max Drawdown (5Y)Largest decline over 5 years | -66.88% | -61.77% | -5.11% |
Max Drawdown (10Y)Largest decline over 10 years | -85.99% | -61.77% | -24.22% |
Current DrawdownCurrent decline from peak | -20.63% | -18.41% | -2.22% |
Average DrawdownAverage peak-to-trough decline | -31.12% | -21.80% | -9.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.97% | 10.45% | +7.52% |
Volatility
FAS vs. UCC - Volatility Comparison
Direxion Daily Financial Bull 3X Shares (FAS) and ProShares Ultra Consumer Services (UCC) have volatilities of 12.45% and 12.41%, 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.
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Volatility by Period
| FAS | UCC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.45% | 12.41% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 33.46% | 27.05% | +6.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.61% | 36.41% | +7.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.59% | 43.70% | +11.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.33% | 40.68% | +20.65% |
FAS vs. UCC - Expense Ratio Comparison
FAS has a 1.00% expense ratio, which is higher than UCC's 0.95% expense ratio.
Dividends
FAS vs. UCC - Dividend Comparison
FAS's dividend yield for the trailing twelve months is around 9.64%, more than UCC's 1.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAS Direxion Daily Financial Bull 3X Shares | 9.64% | 8.21% | 0.76% | 1.77% | 0.91% | 0.60% | 0.47% | 0.62% | 1.43% | 0.11% | 0.00% | 0.00% |
UCC ProShares Ultra Consumer Services | 1.18% | 1.10% | 0.17% | 0.04% | 0.25% | 0.00% | 0.02% | 0.17% | 0.18% | 0.14% | 0.21% | 0.14% |
Frequently Asked Questions
FAS and UCC have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FAS has higher volatility (12.45%) compared to UCC (12.41%). In terms of maximum drawdown, FAS dropped -91.61% vs UCC's -83.05%.
On 10-year performance, FAS leads with 21.20% vs 13.99% for UCC. On fees, UCC is cheaper at 0.95% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FAS has performed better with a 21.20% return vs 13.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UCC is cheaper with a 0.95% expense ratio, compared with 1.00% for FAS.
FAS has the higher dividend yield at 9.64%, compared with 1.18% for UCC.
FAS tracks Russell 1000 Financial Services Index (300%), while UCC tracks Dow Jones U.S. Consumer Services Index (200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.00% for FAS and 0.95% for UCC.
UCC currently has the higher Sharpe Ratio (0.28 vs 0.03), 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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