FAZ vs. BRKW

Last updated Jul 18, 2026

FAZ (Direxion Daily Financial Bear 3X Shares) and BRKW (Roundhill BRKB WeeklyPay ETF) are both exchange-traded funds - FAZ is a Leveraged Equities fund tracking the Russell 1000 Financial Services Index (-300%), while BRKW is a Derivative Income fund actively managed by Roundhill. FAZ is passively managed, while BRKW is actively managed. Over the past year, FAZ returned -19.82% vs 0.45% for BRKW. At a correlation of -0.49, they often move in opposite directions. FAZ charges 1.07%/yr vs 0.99%/yr for BRKW.

Performance

FAZ vs. BRKW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Financial Bear 3X Shares (FAZ) and Roundhill BRKB WeeklyPay ETF (BRKW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FAZ achieves a -10.27% return, which is significantly lower than BRKW's -4.63% return.

FAZ

• 1D: 2.63%
• 1M: -12.05%
• 6M: -11.94%
• YTD: -10.27%
• 1Y: -19.82%
• 3Y*: -39.18%
• 5Y*: -32.56%
• 10Y*: -44.19%

BRKW

• 1D: -0.28%
• 1M: -0.22%
• 6M: -2.21%
• YTD: -4.63%
• 1Y: 0.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FAZ vs. BRKW - Yearly Performance Comparison

	2026 (YTD)	2025
FAZ Direxion Daily Financial Bear 3X Shares	-10.27%	-22.24%
BRKW Roundhill BRKB WeeklyPay ETF	-4.63%	1.85%

Correlation

The correlation between FAZ and BRKW is -0.47, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.47
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	-0.49

Return for Risk

FAZ vs. BRKW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FAZ

FAZ Risk / Return Rank: 5
FAZ Sharpe Ratio Rank: 6
FAZ Sortino Ratio Rank: 6
FAZ Omega Ratio Rank: 6
FAZ Calmar Ratio Rank: 5
FAZ Martin Ratio Rank: 3

BRKW

BRKW Risk / Return Rank: 10
BRKW Sharpe Ratio Rank: 10
BRKW Sortino Ratio Rank: 10
BRKW Omega Ratio Rank: 10
BRKW Calmar Ratio Rank: 10
BRKW Martin Ratio Rank: 10

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FAZ vs. BRKW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Financial Bear 3X Shares (FAZ) and Roundhill BRKB WeeklyPay ETF (BRKW). 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.

	FAZ	BRKW	Difference
Sharpe ratio: Return per unit of total volatility	-0.46	0.03	-0.48
Sortino ratio: Return per unit of downside risk	-0.42	0.16	-0.58
Omega ratio: Gain probability vs. loss probability	0.95	1.02	-0.07
Calmar ratio: Return relative to maximum drawdown	-0.49	0.04	-0.53
Martin ratio: Return relative to average drawdown	-1.19	0.07	-1.26

FAZ vs. BRKW - Sharpe Ratio Comparison

The current FAZ Sharpe Ratio is -0.46, which is lower than the BRKW Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of FAZ and BRKW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FAZ vs. BRKW - Drawdown Comparison

The maximum FAZ drawdown since its inception was -100.00%, which is greater than BRKW's maximum drawdown of -12.64%. Use the drawdown chart below to compare losses from any high point for FAZ and BRKW.

Drawdown Indicators

	FAZ	BRKW	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-12.64%	-87.36%
Max Drawdown (1Y) Largest decline over 1 year	-40.37%	-12.64%	-27.73%
Max Drawdown (3Y) Largest decline over 3 years	-84.31%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-88.07%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-99.72%	—	—
Current Drawdown Current decline from peak	-100.00%	-7.67%	-92.33%
Average Drawdown Average peak-to-trough decline	-99.12%	-5.51%	-93.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.69%	6.34%	+10.35%

Volatility

FAZ vs. BRKW - Volatility Comparison

Direxion Daily Financial Bear 3X Shares (FAZ) has a higher volatility of 12.43% compared to Roundhill BRKB WeeklyPay ETF (BRKW) at 5.21%. This indicates that FAZ's price experiences larger fluctuations and is considered to be riskier than BRKW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAZ	BRKW	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.43%	5.21%	+7.22%
Volatility (6M) Calculated over the trailing 6-month period	33.21%	13.23%	+19.98%
Volatility (1Y) Calculated over the trailing 1-year period	43.76%	17.23%	+26.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.52%	17.22%	+38.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.83%	17.22%	+44.61%

FAZ vs. BRKW - Expense Ratio Comparison

FAZ has a 1.07% expense ratio, which is higher than BRKW's 0.99% expense ratio.

Dividends

FAZ vs. BRKW - Dividend Comparison

FAZ's dividend yield for the trailing twelve months is around 3.45%, less than BRKW's 25.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BRKW Roundhill BRKB WeeklyPay ETF	25.38%	14.45%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FAZ Direxion Daily Financial Bear 3X Shares	3.45%	5.07%	7.34%	4.88%	0.00%	0.00%	0.62%	1.63%	0.56%

Frequently Asked Questions

Can I hold both FAZ and BRKW in my portfolio?

FAZ and BRKW have a correlation of -0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FAZ or BRKW?

FAZ has higher volatility (12.43%) compared to BRKW (5.21%). In terms of maximum drawdown, FAZ dropped -100.00% vs BRKW's -12.64%.

Which ETF is better, FAZ or BRKW?

On 1-year performance, BRKW leads with 0.45% vs -19.82% for FAZ. On fees, BRKW is cheaper at 0.99% per year. On volatility, BRKW has been the lower-risk option at 5.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FAZ or BRKW?

Over the 1-year period, BRKW has performed better with a 0.45% return vs -19.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FAZ or BRKW?

BRKW is cheaper with a 0.99% expense ratio, compared with 1.07% for FAZ.

Which ETF pays a higher dividend yield, FAZ or BRKW?

BRKW has the higher dividend yield at 25.38%, compared with 3.45% for FAZ.

What is the main difference between FAZ and BRKW?

FAZ is categorized as Leveraged Equities, while BRKW is Derivative Income. They also come from different issuers: Direxion and Roundhill. Their fees differ too: 1.07% for FAZ and 0.99% for BRKW.

Which has better risk-adjusted returns?

BRKW currently has the higher Sharpe Ratio (0.03 vs -0.46), 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.