FAZ vs. QTJL
FAZ (Direxion Daily Financial Bear 3X Shares) and QTJL (Innovator Growth Accelerated Plus ETF - July) are both Leveraged Equities funds. FAZ is passively managed, while QTJL is actively managed. Over the past 5 years, FAZ returned -32.28%/yr vs 9.06%/yr for QTJL. Their -0.57 correlation means they have often moved in opposite directions in the past. FAZ charges 1.07%/yr vs 0.79%/yr for QTJL.
Performance
FAZ vs. QTJL - Performance Comparison
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Returns By Period
In the year-to-date period, FAZ achieves a -13.28% return, which is significantly lower than QTJL's 2.56% return.
FAZ
- 1D
- 0.43%
- 1M
- -6.62%
- 6M
- -19.32%
- YTD
- -13.28%
- 1Y
- -27.65%
- 3Y*
- -39.34%
- 5Y*
- -32.28%
- 10Y*
- -44.48%
- ALL TIME*
- -53.80%
QTJL
- 1D
- 0.93%
- 1M
- -1.97%
- 6M
- 1.77%
- YTD
- 2.56%
- 1Y
- 11.97%
- 3Y*
- 15.99%
- 5Y*
- 9.06%
- 10Y*
- —
- ALL TIME*
- 9.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $19.80M | $17.81M | $19.33M | |
| $200.88K | $354.66K | $247.25K |
FAZ vs. QTJL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FAZ Direxion Daily Financial Bear 3X Shares | -13.28% | -37.21% | -51.01% | -26.67% | 1.16% | -28.88% |
QTJL Innovator Growth Accelerated Plus ETF - July | 2.56% | 21.07% | 16.50% | 42.39% | -30.16% | 9.36% |
Correlation
The correlation between FAZ and QTJL is -0.38, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.38 |
Correlation (3Y) Balances recent behavior with more history. | -0.45 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.57 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021 | -0.57 |
The correlation between FAZ and QTJL shifts across timeframes, from -0.57 (5 years) to -0.38 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FAZ vs. QTJL — Risk / Return Rank
FAZ
QTJL
FAZ vs. QTJL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Financial Bear 3X Shares (FAZ) and Innovator Growth Accelerated Plus ETF - July (QTJL). 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 | QTJL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.43 | ||
| Sortino ratioReturn per unit of downside risk | -1.91 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.18 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | 1.23 | -1.79 |
| Martin ratioReturn relative to average drawdown | -1.29 | 6.04 | -7.33 |
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Drawdowns
FAZ vs. QTJL - Drawdown Comparison
The maximum FAZ drawdown since its inception was -100.00%, which is greater than QTJL's maximum drawdown of -33.40%. Use the drawdown chart below to compare losses from any high point for FAZ and QTJL.
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Drawdown Indicators
| FAZ | QTJL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -33.40% | -66.60% |
Max Drawdown (1Y)Largest decline over 1 year | -42.80% | -8.48% | -34.32% |
Max Drawdown (3Y)Largest decline over 3 years | -84.95% | -22.43% | -62.52% |
Max Drawdown (5Y)Largest decline over 5 years | -88.55% | -33.40% | -55.15% |
Max Drawdown (10Y)Largest decline over 10 years | -99.72% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -4.62% | -95.38% |
Average DrawdownAverage peak-to-trough decline | -99.12% | -7.74% | -91.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.45% | 1.73% | +16.72% |
Volatility
FAZ vs. QTJL - Volatility Comparison
Direxion Daily Financial Bear 3X Shares (FAZ) has a higher volatility of 11.94% compared to Innovator Growth Accelerated Plus ETF - July (QTJL) at 6.45%. This indicates that FAZ's price experiences larger fluctuations and is considered to be riskier than QTJL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAZ | QTJL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.94% | 6.45% | +5.49% |
Volatility (6M)Calculated over the trailing 6-month period | 32.77% | 9.63% | +23.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.05% | 11.72% | +32.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.31% | 20.43% | +34.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.87% | 20.30% | +41.57% |
FAZ vs. QTJL - Expense Ratio Comparison
FAZ has a 1.07% expense ratio, which is higher than QTJL's 0.79% expense ratio.
Dividends
FAZ vs. QTJL - Dividend Comparison
FAZ's dividend yield for the trailing twelve months is around 3.57%, while QTJL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FAZ Direxion Daily Financial Bear 3X Shares | 3.57% | 5.07% | 7.34% | 4.88% | 0.00% | 0.00% | 0.62% | 1.63% | 0.56% |
QTJL Innovator Growth Accelerated Plus ETF - July | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FAZ and QTJL have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FAZ has higher volatility (11.94%) compared to QTJL (6.45%). In terms of maximum drawdown, FAZ dropped -100.00% vs QTJL's -33.40%.
On 5-year performance, QTJL leads with 9.06% vs -32.28% for FAZ. On fees, QTJL is cheaper at 0.79% per year. On volatility, QTJL has been the lower-risk option at 6.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, QTJL has performed better with a 9.06% return vs -32.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QTJL is cheaper with a 0.79% expense ratio, compared with 1.07% for FAZ.
FAZ has the higher dividend yield at 3.57%, compared with 0.00% for QTJL.
They also come from different issuers: Direxion and Innovator. Their fees differ too: 1.07% for FAZ and 0.79% for QTJL.
QTJL currently has the higher Sharpe Ratio (0.89 vs -0.54), 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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