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 -12.45% vs 17.82% 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 2.92% return, which is significantly lower than DYLG's 5.99% 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%
DYLG
- 1D
- 0.26%
- 1M
- 1.83%
- YTD
- 5.99%
- 6M
- 5.20%
- 1Y
- 17.82%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FAZ vs. DYLG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FAZ Direxion Daily Financial Bear 3X Shares | 2.92% | -37.21% | -51.01% | -15.87% |
DYLG Global X Dow 30 Covered Call & Growth ETF | 5.99% | 12.50% | 14.46% | 4.05% |
Correlation
The correlation between FAZ and DYLG is -0.77, 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 | -0.77 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2023 | -0.80 |
The correlation between FAZ and DYLG has been stable across timeframes, ranging from -0.80 to -0.77 - 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.
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 | DYLG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.19 | ||
| Sortino ratioReturn per unit of downside risk | -2.89 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.35 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.40 | 2.15 | -2.55 |
| Martin ratioReturn relative to average drawdown | -0.88 | 8.76 | -9.64 |
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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 | -31.57% | -8.31% | -23.26% |
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% | -0.31% | -99.69% |
Average DrawdownAverage peak-to-trough decline | -99.12% | -1.83% | -97.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.19% | 2.04% | +12.15% |
Volatility
FAZ vs. DYLG - Volatility Comparison
Direxion Daily Financial Bear 3X Shares (FAZ) has a higher volatility of 12.52% compared to Global X Dow 30 Covered Call & Growth ETF (DYLG) at 2.66%. 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 | 12.52% | 2.66% | +9.86% |
Volatility (6M)Calculated over the trailing 6-month period | 33.19% | 7.75% | +25.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.47% | 9.46% | +34.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.65% | 11.41% | +44.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.92% | 11.41% | +50.51% |
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 3.01%, less than DYLG's 9.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DYLG Global X Dow 30 Covered Call & Growth ETF | 9.43% | 9.63% | 16.55% | 1.38% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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% |
Frequently Asked Questions
FAZ and DYLG have a correlation of -0.77, 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 DYLG (2.66%). In terms of maximum drawdown, FAZ dropped -100.00% vs DYLG's -13.98%.
On 1-year performance, DYLG leads with 17.82% vs -12.45% for FAZ. On fees, DYLG is cheaper at 0.35% per year. On volatility, DYLG has been the lower-risk option at 2.66%. 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 17.82% return vs -12.45%. 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 9.43%, compared with 3.01% 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 -0.29), 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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