FAS vs. UYG
Compare and contrast key facts about Direxion Daily Financial Bull 3X Shares (FAS) and ProShares Ultra Financials (UYG).
FAS and UYG 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. UYG is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Financials Index (200%). It was launched on Jan 30, 2007. Both FAS and UYG are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
FAS vs. UYG - Performance Comparison
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FAS vs. UYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FAS Direxion Daily Financial Bull 3X Shares | -29.25% | 21.48% | 84.47% | 14.92% | -43.19% | 116.59% | -34.97% | 113.04% | -33.84% | 67.37% |
UYG ProShares Ultra Financials | -19.79% | 19.77% | 55.71% | 22.14% | -32.11% | 76.26% | -20.32% | 66.15% | -22.61% | 39.28% |
Returns By Period
In the year-to-date period, FAS achieves a -29.25% return, which is significantly lower than UYG's -19.79% return. Over the past 10 years, FAS has outperformed UYG with an annualized return of 18.68%, while UYG has yielded a comparatively lower 16.07% annualized return.
FAS
- 1D
- 6.35%
- 1M
- -11.64%
- YTD
- -29.25%
- 6M
- -27.65%
- 1Y
- -18.17%
- 3Y*
- 32.31%
- 5Y*
- 7.69%
- 10Y*
- 18.68%
UYG
- 1D
- 4.23%
- 1M
- -7.23%
- YTD
- -19.79%
- 6M
- -17.96%
- 1Y
- -8.20%
- 3Y*
- 25.33%
- 5Y*
- 11.21%
- 10Y*
- 16.07%
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FAS vs. UYG - Expense Ratio Comparison
FAS has a 1.00% expense ratio, which is higher than UYG's 0.95% expense ratio.
Return for Risk
FAS vs. UYG — Risk / Return Rank
FAS
UYG
FAS vs. UYG - 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 Financials (UYG). 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.
| FAS | UYG | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.32 | -0.21 | -0.10 |
Sortino ratioReturn per unit of downside risk | -0.08 | -0.04 | -0.04 |
Omega ratioGain probability vs. loss probability | 0.99 | 0.99 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | -0.37 | -0.20 | -0.17 |
Martin ratioReturn relative to average drawdown | -1.01 | -0.58 | -0.43 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FAS | UYG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.32 | -0.21 | -0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | 0.31 | -0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | 0.39 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.19 | -0.01 | +0.20 |
Correlation
The correlation between FAS and UYG is 0.99, 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.
Dividends
FAS vs. UYG - Dividend Comparison
FAS's dividend yield for the trailing twelve months is around 11.79%, less than UYG's 14.56% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAS Direxion Daily Financial Bull 3X Shares | 11.79% | 8.21% | 0.76% | 1.77% | 0.91% | 0.60% | 0.47% | 0.62% | 1.43% | 0.11% | 0.00% | 0.00% |
UYG ProShares Ultra Financials | 14.56% | 11.72% | 0.51% | 0.79% | 0.77% | 9.39% | 0.66% | 0.90% | 1.28% | 0.56% | 0.76% | 0.72% |
Drawdowns
FAS vs. UYG - Drawdown Comparison
The maximum FAS drawdown since its inception was -91.61%, smaller than the maximum UYG drawdown of -97.90%. Use the drawdown chart below to compare losses from any high point for FAS and UYG.
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Drawdown Indicators
| FAS | UYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.61% | -97.90% | +6.29% |
Max Drawdown (1Y)Largest decline over 1 year | -40.88% | -28.91% | -11.97% |
Max Drawdown (5Y)Largest decline over 5 years | -66.88% | -47.77% | -19.11% |
Max Drawdown (10Y)Largest decline over 10 years | -85.99% | -69.98% | -16.01% |
Current DrawdownCurrent decline from peak | -35.08% | -24.25% | -10.83% |
Average DrawdownAverage peak-to-trough decline | -31.15% | -63.78% | +32.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.87% | 10.08% | +4.79% |
Volatility
FAS vs. UYG - Volatility Comparison
Direxion Daily Financial Bull 3X Shares (FAS) has a higher volatility of 14.32% compared to ProShares Ultra Financials (UYG) at 9.55%. This indicates that FAS's price experiences larger fluctuations and is considered to be riskier than UYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAS | UYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.32% | 9.55% | +4.77% |
Volatility (6M)Calculated over the trailing 6-month period | 34.33% | 23.04% | +11.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.51% | 38.69% | +18.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.69% | 36.17% | +19.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.35% | 41.08% | +20.27% |