FAZ vs. EQIN
FAZ (Direxion Daily Financial Bear 3X Shares) and EQIN (Columbia U.S. Equity Income ETF) are both exchange-traded funds - FAZ is a Leveraged Equities fund tracking the Russell 1000 Financial Services Index (-300%), while EQIN is a Large Cap Value Equities fund actively managed by Columbia. FAZ is passively managed, while EQIN is actively managed. Over the past 10 years, FAZ returned -44.22%/yr vs 12.17%/yr for EQIN. At a correlation of -0.75, they often move in opposite directions. FAZ charges 1.07%/yr vs 0.35%/yr for EQIN.
Performance
FAZ vs. EQIN - Performance Comparison
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Returns By Period
In the year-to-date period, FAZ achieves a -9.37% return, which is significantly lower than EQIN's 12.20% return. Over the past 10 years, FAZ has underperformed EQIN with an annualized return of -44.22%, while EQIN has yielded a comparatively higher 12.17% annualized return.
FAZ
- 1D
- -1.91%
- 1M
- -14.72%
- 6M
- -6.80%
- YTD
- -9.37%
- 1Y
- -20.83%
- 3Y*
- -40.21%
- 5Y*
- -32.04%
- 10Y*
- -44.22%
EQIN
- 1D
- 0.63%
- 1M
- 1.90%
- 6M
- 8.92%
- YTD
- 12.20%
- 1Y
- 18.47%
- 3Y*
- 14.47%
- 5Y*
- 11.11%
- 10Y*
- 12.17%
FAZ vs. EQIN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FAZ Direxion Daily Financial Bear 3X Shares | -9.37% | -37.21% | -51.01% | -26.67% | 1.16% | -67.05% | -73.90% | -58.62% | 16.84% | -46.18% |
EQIN Columbia U.S. Equity Income ETF | 12.20% | 9.37% | 13.82% | 11.58% | 0.66% | 31.18% | 0.67% | 30.67% | -12.22% | 20.05% |
Correlation
The correlation between FAZ and EQIN 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 (3Y) Calculated over the trailing 3-year period | -0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.76 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2016 | -0.75 |
The correlation between FAZ and EQIN has been stable across timeframes, ranging from -0.83 to -0.75 - a consistent structural relationship.
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Return for Risk
FAZ vs. EQIN — Risk / Return Rank
FAZ
EQIN
FAZ vs. EQIN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Financial Bear 3X Shares (FAZ) and Columbia U.S. Equity Income ETF (EQIN). 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 | EQIN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.26 | ||
| Sortino ratioReturn per unit of downside risk | -3.08 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.31 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.54 | 3.43 | -3.97 |
| Martin ratioReturn relative to average drawdown | -1.31 | 10.26 | -11.56 |
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Drawdowns
FAZ vs. EQIN - Drawdown Comparison
The maximum FAZ drawdown since its inception was -100.00%, which is greater than EQIN's maximum drawdown of -42.16%. Use the drawdown chart below to compare losses from any high point for FAZ and EQIN.
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Drawdown Indicators
| FAZ | EQIN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -42.16% | -57.84% |
Max Drawdown (1Y)Largest decline over 1 year | -38.56% | -5.41% | -33.15% |
Max Drawdown (3Y)Largest decline over 3 years | -83.83% | -12.05% | -71.78% |
Max Drawdown (5Y)Largest decline over 5 years | -87.70% | -18.51% | -69.19% |
Max Drawdown (10Y)Largest decline over 10 years | -99.71% | -42.16% | -57.55% |
Current DrawdownCurrent decline from peak | -100.00% | 0.00% | -100.00% |
Average DrawdownAverage peak-to-trough decline | -99.12% | -4.85% | -94.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.97% | 1.81% | +14.16% |
Volatility
FAZ vs. EQIN - Volatility Comparison
Direxion Daily Financial Bear 3X Shares (FAZ) has a higher volatility of 12.94% compared to Columbia U.S. Equity Income ETF (EQIN) at 2.91%. This indicates that FAZ's price experiences larger fluctuations and is considered to be riskier than EQIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAZ | EQIN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.94% | 2.91% | +10.03% |
Volatility (6M)Calculated over the trailing 6-month period | 33.63% | 7.19% | +26.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.06% | 10.42% | +33.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.56% | 14.58% | +40.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.85% | 18.46% | +43.39% |
FAZ vs. EQIN - Expense Ratio Comparison
FAZ has a 1.07% expense ratio, which is higher than EQIN's 0.35% expense ratio.
Dividends
FAZ vs. EQIN - Dividend Comparison
FAZ's dividend yield for the trailing twelve months is around 3.41%, more than EQIN's 1.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
EQIN Columbia U.S. Equity Income ETF | 1.86% | 2.05% | 4.34% | 2.41% | 2.71% | 2.57% | 2.54% | 2.70% | 7.81% | 11.52% | 2.44% |
FAZ Direxion Daily Financial Bear 3X Shares | 3.41% | 5.07% | 7.34% | 4.88% | 0.00% | 0.00% | 0.62% | 1.63% | 0.56% | 0.00% | 0.00% |
Frequently Asked Questions
FAZ and EQIN 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 (12.94%) compared to EQIN (2.91%). In terms of maximum drawdown, FAZ dropped -100.00% vs EQIN's -42.16%.
On 10-year performance, EQIN leads with 12.17% vs -44.22% for FAZ. On fees, EQIN is cheaper at 0.35% per year. On volatility, EQIN has been the lower-risk option at 2.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EQIN has performed better with a 12.17% return vs -44.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EQIN is cheaper with a 0.35% expense ratio, compared with 1.07% for FAZ.
FAZ has the higher dividend yield at 3.41%, compared with 1.86% for EQIN.
FAZ is categorized as Leveraged Equities, while EQIN is Large Cap Value Equities. They also come from different issuers: Direxion and Columbia. Their fees differ too: 1.07% for FAZ and 0.35% for EQIN.
EQIN currently has the higher Sharpe Ratio (1.78 vs -0.48), 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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