FAZ vs. DIVO
FAZ (Direxion Daily Financial Bear 3X Shares) and DIVO (Amplify CWP Enhanced Dividend Income ETF) are both exchange-traded funds - FAZ is a Leveraged Equities fund tracking the Russell 1000 Financial Services Index (-300%), while DIVO is a Derivative Income fund actively managed by Amplify. FAZ is passively managed, while DIVO is actively managed. Over the past 5 years, FAZ returned -29.87%/yr vs 10.57%/yr for DIVO. At a correlation of -0.76, they often move in opposite directions. FAZ charges 1.07%/yr vs 0.56%/yr for DIVO.
Performance
FAZ vs. DIVO - Performance Comparison
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Returns By Period
In the year-to-date period, FAZ achieves a 2.92% return, which is significantly lower than DIVO's 5.03% return.
FAZ
- 1D
- 0.85%
- 1M
- -10.71%
- YTD
- 2.92%
- 6M
- 8.72%
- 1Y
- -12.45%
- 3Y*
- -40.27%
- 5Y*
- -29.87%
- 10Y*
- -44.64%
DIVO
- 1D
- -0.35%
- 1M
- -0.38%
- YTD
- 5.03%
- 6M
- 3.45%
- 1Y
- 16.38%
- 3Y*
- 15.01%
- 5Y*
- 10.57%
- 10Y*
- —
FAZ vs. DIVO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FAZ Direxion Daily Financial Bear 3X Shares | 2.92% | -37.21% | -51.01% | -26.67% | 1.16% | -67.05% | -73.90% | -58.62% | 16.84% | -46.18% |
DIVO Amplify CWP Enhanced Dividend Income ETF | 5.03% | 17.40% | 16.22% | 6.95% | -1.46% | 22.87% | 12.40% | 24.90% | -3.18% | 21.41% |
Correlation
The correlation between FAZ and DIVO is -0.79, 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 | -0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.82 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2016 | -0.76 |
The correlation between FAZ and DIVO has been stable across timeframes, ranging from -0.82 to -0.76 - a consistent structural relationship.
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Return for Risk
FAZ vs. DIVO — Risk / Return Rank
FAZ
DIVO
FAZ vs. DIVO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Financial Bear 3X Shares (FAZ) and Amplify CWP Enhanced Dividend Income ETF (DIVO). 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 | DIVO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.08 | ||
| Sortino ratioReturn per unit of downside risk | -2.80 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.31 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.40 | 2.77 | -3.16 |
| Martin ratioReturn relative to average drawdown | -0.88 | 9.86 | -10.74 |
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Drawdowns
FAZ vs. DIVO - Drawdown Comparison
The maximum FAZ drawdown since its inception was -100.00%, which is greater than DIVO's maximum drawdown of -30.04%. Use the drawdown chart below to compare losses from any high point for FAZ and DIVO.
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Drawdown Indicators
| FAZ | DIVO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -30.04% | -69.96% |
Max Drawdown (1Y)Largest decline over 1 year | -31.57% | -5.95% | -25.62% |
Max Drawdown (3Y)Largest decline over 3 years | -83.61% | -12.12% | -71.49% |
Max Drawdown (5Y)Largest decline over 5 years | -87.53% | -13.72% | -73.81% |
Max Drawdown (10Y)Largest decline over 10 years | -99.78% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -1.95% | -98.05% |
Average DrawdownAverage peak-to-trough decline | -99.12% | -2.60% | -96.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.19% | 1.67% | +12.52% |
Volatility
FAZ vs. DIVO - Volatility Comparison
Direxion Daily Financial Bear 3X Shares (FAZ) has a higher volatility of 12.52% compared to Amplify CWP Enhanced Dividend Income ETF (DIVO) at 2.90%. This indicates that FAZ's price experiences larger fluctuations and is considered to be riskier than DIVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAZ | DIVO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.52% | 2.90% | +9.62% |
Volatility (6M)Calculated over the trailing 6-month period | 33.19% | 7.14% | +26.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.47% | 9.17% | +34.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.65% | 11.95% | +43.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.92% | 14.82% | +47.10% |
FAZ vs. DIVO - Expense Ratio Comparison
FAZ has a 1.07% expense ratio, which is higher than DIVO's 0.56% expense ratio.
Dividends
FAZ vs. DIVO - Dividend Comparison
FAZ's dividend yield for the trailing twelve months is around 3.01%, less than DIVO's 6.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DIVO Amplify CWP Enhanced Dividend Income ETF | 6.45% | 6.44% | 4.70% | 4.67% | 4.76% | 4.79% | 4.91% | 8.16% | 5.27% | 3.83% |
FAZ Direxion Daily Financial Bear 3X Shares | 3.01% | 5.07% | 7.34% | 4.88% | 0.00% | 0.00% | 0.62% | 1.63% | 0.56% | 0.00% |
Frequently Asked Questions
FAZ and DIVO have a correlation of -0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FAZ has higher volatility (12.52%) compared to DIVO (2.90%). In terms of maximum drawdown, FAZ dropped -100.00% vs DIVO's -30.04%.
On 5-year performance, DIVO leads with 10.57% vs -29.87% for FAZ. On fees, DIVO is cheaper at 0.56% per year. On volatility, DIVO has been the lower-risk option at 2.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DIVO has performed better with a 10.57% return vs -29.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DIVO is cheaper with a 0.56% expense ratio, compared with 1.07% for FAZ.
DIVO has the higher dividend yield at 6.45%, compared with 3.01% for FAZ.
FAZ is categorized as Leveraged Equities, while DIVO is Derivative Income. They also come from different issuers: Direxion and Amplify. Their fees differ too: 1.07% for FAZ and 0.56% for DIVO.
DIVO currently has the higher Sharpe Ratio (1.80 vs -0.29), 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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