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FAZ vs. FAS
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between FAZ and FAS is -0.83. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.


-0.50.00.51.0
Correlation: -0.8

Performance

FAZ vs. FAS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Financial Bear 3X Shares (FAZ) and Direxion Daily Financial Bull 3X Shares (FAS). The values are adjusted to include any dividend payments, if applicable.

-100.00%0.00%100.00%200.00%300.00%400.00%500.00%NovemberDecember2025FebruaryMarchApril
-100.00%
335.22%
FAZ
FAS

Key characteristics

Sharpe Ratio

FAZ:

-0.74

FAS:

0.57

Sortino Ratio

FAZ:

-0.95

FAS:

1.13

Omega Ratio

FAZ:

0.88

FAS:

1.17

Calmar Ratio

FAZ:

-0.45

FAS:

0.80

Martin Ratio

FAZ:

-1.29

FAS:

2.81

Ulcer Index

FAZ:

34.50%

FAS:

12.20%

Daily Std Dev

FAZ:

60.55%

FAS:

59.98%

Max Drawdown

FAZ:

-100.00%

FAS:

-94.81%

Current Drawdown

FAZ:

-100.00%

FAS:

-26.94%

Returns By Period

In the year-to-date period, FAZ achieves a -9.49% return, which is significantly higher than FAS's -10.19% return. Over the past 10 years, FAZ has underperformed FAS with an annualized return of -43.65%, while FAS has yielded a comparatively higher 16.97% annualized return.


FAZ

YTD

-9.49%

1M

3.85%

6M

-17.92%

1Y

-43.81%

5Y*

-51.27%

10Y*

-43.65%

FAS

YTD

-10.19%

1M

-17.84%

6M

-6.07%

1Y

32.22%

5Y*

41.51%

10Y*

16.97%

*Annualized

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FAZ vs. FAS - Expense Ratio Comparison

FAZ has a 1.07% expense ratio, which is higher than FAS's 1.00% expense ratio.


Expense ratio chart for FAZ: current value is 1.07%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
FAZ: 1.07%
Expense ratio chart for FAS: current value is 1.00%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
FAS: 1.00%

Risk-Adjusted Performance

FAZ vs. FAS — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FAZ
The Risk-Adjusted Performance Rank of FAZ is 22
Overall Rank
The Sharpe Ratio Rank of FAZ is 22
Sharpe Ratio Rank
The Sortino Ratio Rank of FAZ is 22
Sortino Ratio Rank
The Omega Ratio Rank of FAZ is 22
Omega Ratio Rank
The Calmar Ratio Rank of FAZ is 33
Calmar Ratio Rank
The Martin Ratio Rank of FAZ is 44
Martin Ratio Rank

FAS
The Risk-Adjusted Performance Rank of FAS is 7272
Overall Rank
The Sharpe Ratio Rank of FAS is 6464
Sharpe Ratio Rank
The Sortino Ratio Rank of FAS is 7272
Sortino Ratio Rank
The Omega Ratio Rank of FAS is 7474
Omega Ratio Rank
The Calmar Ratio Rank of FAS is 7878
Calmar Ratio Rank
The Martin Ratio Rank of FAS is 7272
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

FAZ vs. FAS - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Financial Bear 3X Shares (FAZ) and Direxion Daily Financial Bull 3X Shares (FAS). 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.


The chart of Sharpe ratio for FAZ, currently valued at -0.74, compared to the broader market-1.000.001.002.003.004.00
FAZ: -0.74
FAS: 0.57
The chart of Sortino ratio for FAZ, currently valued at -0.95, compared to the broader market-2.000.002.004.006.008.00
FAZ: -0.95
FAS: 1.13
The chart of Omega ratio for FAZ, currently valued at 0.88, compared to the broader market0.501.001.502.002.50
FAZ: 0.88
FAS: 1.17
The chart of Calmar ratio for FAZ, currently valued at -0.45, compared to the broader market0.002.004.006.008.0010.0012.00
FAZ: -0.45
FAS: 0.80
The chart of Martin ratio for FAZ, currently valued at -1.29, compared to the broader market0.0020.0040.0060.00
FAZ: -1.29
FAS: 2.81

The current FAZ Sharpe Ratio is -0.74, which is lower than the FAS Sharpe Ratio of 0.57. The chart below compares the historical Sharpe Ratios of FAZ and FAS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-2.000.002.004.006.00NovemberDecember2025FebruaryMarchApril
-0.74
0.57
FAZ
FAS

Dividends

FAZ vs. FAS - Dividend Comparison

FAZ's dividend yield for the trailing twelve months is around 6.93%, more than FAS's 0.91% yield.


TTM20242023202220212020201920182017
FAZ
Direxion Daily Financial Bear 3X Shares
6.93%7.36%4.88%0.00%0.00%0.62%1.62%0.57%0.00%
FAS
Direxion Daily Financial Bull 3X Shares
0.91%0.76%1.77%0.91%0.60%0.47%0.62%1.43%0.11%

Drawdowns

FAZ vs. FAS - Drawdown Comparison

The maximum FAZ drawdown since its inception was -100.00%, which is greater than FAS's maximum drawdown of -94.81%. Use the drawdown chart below to compare losses from any high point for FAZ and FAS. For additional features, visit the drawdowns tool.


-100.00%-80.00%-60.00%-40.00%-20.00%0.00%NovemberDecember2025FebruaryMarchApril
-100.00%
-26.94%
FAZ
FAS

Volatility

FAZ vs. FAS - Volatility Comparison

Direxion Daily Financial Bear 3X Shares (FAZ) and Direxion Daily Financial Bull 3X Shares (FAS) have volatilities of 41.42% and 41.07%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.


10.00%20.00%30.00%40.00%NovemberDecember2025FebruaryMarchApril
41.42%
41.07%
FAZ
FAS