FAZ vs. DLLL
FAZ (Direxion Daily Financial Bear 3X Shares) and DLLL (GraniteShares 2x Long DELL Daily ETF) are both Leveraged Equities funds - FAZ tracks the Russell 1000 Financial Services Index (-300%) while DLLL tracks the Dell Technologies Inc. (DELL). Both are passively managed. Over the past year, FAZ returned 0.55% vs 850.63% for DLLL. At a correlation of -0.31, they often move in opposite directions. FAZ charges 1.07%/yr vs 1.50%/yr for DLLL.
Performance
FAZ vs. DLLL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FAZ achieves a 22.66% return, which is significantly lower than DLLL's 757.76% return.
FAZ
- 1D
- 3.45%
- 1M
- 5.24%
- YTD
- 22.66%
- 6M
- 14.22%
- 1Y
- 0.55%
- 3Y*
- -36.72%
- 5Y*
- -26.05%
- 10Y*
- -42.81%
DLLL
- 1D
- -6.45%
- 1M
- 245.92%
- YTD
- 757.76%
- 6M
- 648.38%
- 1Y
- 850.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FAZ vs. DLLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FAZ Direxion Daily Financial Bear 3X Shares | 22.66% | -23.37% |
DLLL GraniteShares 2x Long DELL Daily ETF | 757.76% | -3.72% |
Correlation
The correlation between FAZ and DLLL is -0.20, 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 | -0.20 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2025 | -0.31 |
The correlation between FAZ and DLLL shifts across timeframes, from -0.31 (all time) to -0.20 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FAZ vs. DLLL — Risk / Return Rank
FAZ
DLLL
FAZ vs. DLLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Financial Bear 3X Shares (FAZ) and GraniteShares 2x Long DELL Daily ETF (DLLL). 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.
| FAZ | DLLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.64 | ||
| Sortino ratioReturn per unit of downside risk | -4.47 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.60 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | 0.02 | 15.02 | -15.01 |
| Martin ratioReturn relative to average drawdown | 0.03 | 31.34 | -31.31 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| FAZ | DLLL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.01 | 6.65 | -6.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.47 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.69 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.72 | 3.16 | -3.88 |
Drawdowns
FAZ vs. DLLL - Drawdown Comparison
The maximum FAZ drawdown since its inception was -100.00%, which is greater than DLLL's maximum drawdown of -68.58%. Use the drawdown chart below to compare losses from any high point for FAZ and DLLL.
Loading charts...
Drawdown Indicators
| FAZ | DLLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -68.58% | -31.42% |
Max Drawdown (1Y)Largest decline over 1 year | -30.20% | -57.19% | +26.99% |
Max Drawdown (3Y)Largest decline over 3 years | -83.61% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -87.53% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.78% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -18.86% | -81.14% |
Average DrawdownAverage peak-to-trough decline | -99.14% | -25.91% | -73.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.58% | 27.36% | -10.78% |
Volatility
FAZ vs. DLLL - Volatility Comparison
The current volatility for Direxion Daily Financial Bear 3X Shares (FAZ) is 9.30%, while GraniteShares 2x Long DELL Daily ETF (DLLL) has a volatility of 69.39%. This indicates that FAZ experiences smaller price fluctuations and is considered to be less risky than DLLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FAZ | DLLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.30% | 69.39% | -60.09% |
Volatility (6M)Calculated over the trailing 6-month period | 32.18% | 102.08% | -69.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.09% | 129.28% | -86.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.83% | 130.55% | -74.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.07% | 130.55% | -68.48% |
FAZ vs. DLLL - Expense Ratio Comparison
FAZ has a 1.07% expense ratio, which is lower than DLLL's 1.50% expense ratio.
Dividends
FAZ vs. DLLL - Dividend Comparison
FAZ's dividend yield for the trailing twelve months is around 2.77%, while DLLL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DLLL GraniteShares 2x Long DELL Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FAZ Direxion Daily Financial Bear 3X Shares | 2.77% | 5.07% | 7.34% | 4.88% | 0.00% | 0.00% | 0.62% | 1.63% | 0.56% |
Frequently Asked Questions
FAZ and DLLL have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DLLL has higher volatility (69.39%) compared to FAZ (9.30%). In terms of maximum drawdown, FAZ dropped -100.00% vs DLLL's -68.58%.
On 1-year performance, DLLL leads with 850.63% vs 0.55% for FAZ. On fees, FAZ is cheaper at 1.07% per year. On volatility, FAZ has been the lower-risk option at 9.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DLLL has performed better with a 850.63% return vs 0.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FAZ is cheaper with a 1.07% expense ratio, compared with 1.50% for DLLL.
FAZ has the higher dividend yield at 2.77%, compared with 0.00% for DLLL.
FAZ tracks Russell 1000 Financial Services Index (-300%), while DLLL tracks Dell Technologies Inc. (DELL). They also come from different issuers: Direxion and GraniteShares. Their fees differ too: 1.07% for FAZ and 1.50% for DLLL.
DLLL currently has the higher Sharpe Ratio (6.65 vs 0.01), 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.
Find the right allocation for FAZ and DLLL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer