FAZ vs. DYLG
FAZ (Direxion Daily Financial Bear 3X Shares) and DYLG (Global X Dow 30 Covered Call & Growth ETF) are both exchange-traded funds - FAZ is a Leveraged Equities fund tracking the Russell 1000 Financial Services Index (-300%), while DYLG is a Derivative Income fund tracking the Cboe DJIA Half BuyWrite Index - Benchmark TR Gross. Both are passively managed. Over the past year, FAZ returned 0.55% vs 17.86% for DYLG. At a correlation of -0.80, they often move in opposite directions. FAZ charges 1.07%/yr vs 0.35%/yr for DYLG.
Performance
FAZ vs. DYLG - Performance Comparison
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Returns By Period
In the year-to-date period, FAZ achieves a 22.66% return, which is significantly higher than DYLG's 4.63% 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%
DYLG
- 1D
- -0.65%
- 1M
- 3.69%
- YTD
- 4.63%
- 6M
- 5.52%
- 1Y
- 17.86%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FAZ vs. DYLG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FAZ Direxion Daily Financial Bear 3X Shares | 22.66% | -37.21% | -51.01% | -14.31% |
DYLG Global X Dow 30 Covered Call & Growth ETF | 4.63% | 12.50% | 14.46% | 4.05% |
Correlation
The correlation between FAZ and DYLG 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 (All Time) Calculated using the full available price history since Jul 27, 2023 | -0.80 |
The correlation between FAZ and DYLG has been stable across timeframes, ranging from -0.80 to -0.79 - a consistent structural relationship.
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Return for Risk
FAZ vs. DYLG — Risk / Return Rank
FAZ
DYLG
FAZ vs. DYLG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Financial Bear 3X Shares (FAZ) and Global X Dow 30 Covered Call & Growth ETF (DYLG). 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 | DYLG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.89 | ||
| Sortino ratioReturn per unit of downside risk | -2.40 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.35 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | 0.02 | 2.16 | -2.14 |
| Martin ratioReturn relative to average drawdown | 0.03 | 8.78 | -8.75 |
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
| FAZ | DYLG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.01 | 1.90 | -1.89 |
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 | 1.10 | -1.83 |
Drawdowns
FAZ vs. DYLG - Drawdown Comparison
The maximum FAZ drawdown since its inception was -100.00%, which is greater than DYLG's maximum drawdown of -13.98%. Use the drawdown chart below to compare losses from any high point for FAZ and DYLG.
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Drawdown Indicators
| FAZ | DYLG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -13.98% | -86.02% |
Max Drawdown (1Y)Largest decline over 1 year | -30.20% | -8.31% | -21.89% |
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% | -0.65% | -99.35% |
Average DrawdownAverage peak-to-trough decline | -99.14% | -1.86% | -97.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.58% | 2.04% | +14.54% |
Volatility
FAZ vs. DYLG - Volatility Comparison
Direxion Daily Financial Bear 3X Shares (FAZ) has a higher volatility of 9.30% compared to Global X Dow 30 Covered Call & Growth ETF (DYLG) at 2.46%. This indicates that FAZ's price experiences larger fluctuations and is considered to be riskier than DYLG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAZ | DYLG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.30% | 2.46% | +6.84% |
Volatility (6M)Calculated over the trailing 6-month period | 32.18% | 7.46% | +24.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.09% | 9.44% | +33.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.83% | 11.44% | +44.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.07% | 11.44% | +50.63% |
FAZ vs. DYLG - Expense Ratio Comparison
FAZ has a 1.07% expense ratio, which is higher than DYLG's 0.35% expense ratio.
Dividends
FAZ vs. DYLG - Dividend Comparison
FAZ's dividend yield for the trailing twelve months is around 2.77%, less than DYLG's 9.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DYLG Global X Dow 30 Covered Call & Growth ETF | 9.54% | 9.63% | 16.55% | 1.38% | 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 DYLG 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 (9.30%) compared to DYLG (2.46%). In terms of maximum drawdown, FAZ dropped -100.00% vs DYLG's -13.98%.
On 1-year performance, DYLG leads with 17.86% vs 0.55% for FAZ. On fees, DYLG is cheaper at 0.35% per year. On volatility, DYLG has been the lower-risk option at 2.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DYLG has performed better with a 17.86% return vs 0.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DYLG is cheaper with a 0.35% expense ratio, compared with 1.07% for FAZ.
DYLG has the higher dividend yield at 9.54%, compared with 2.77% for FAZ.
FAZ is categorized as Leveraged Equities, while DYLG is Derivative Income. FAZ tracks Russell 1000 Financial Services Index (-300%), while DYLG tracks Cboe DJIA Half BuyWrite Index - Benchmark TR Gross. They also come from different issuers: Direxion and Global X. Their fees differ too: 1.07% for FAZ and 0.35% for DYLG.
DYLG currently has the higher Sharpe Ratio (1.90 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.
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