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 -32.04%/yr vs 9.67%/yr for QTJL. At a correlation of -0.57, they often move in opposite directions. 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 -9.37% return, which is significantly lower than QTJL's 4.97% 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%
QTJL
- 1D
- -1.54%
- 1M
- -1.99%
- 6M
- 3.87%
- YTD
- 4.97%
- 1Y
- 14.88%
- 3Y*
- 17.19%
- 5Y*
- 9.67%
- 10Y*
- —
FAZ vs. QTJL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FAZ Direxion Daily Financial Bear 3X Shares | -9.37% | -37.21% | -51.01% | -26.67% | 1.16% | -28.88% |
QTJL Innovator Growth Accelerated Plus ETF - July | 4.97% | 21.07% | 16.50% | 42.39% | -30.16% | 9.36% |
Correlation
The correlation between FAZ and QTJL is -0.40, 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 | -0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.58 |
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 -0.58 (5 years) to -0.40 (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 | -1.90 | ||
| Sortino ratioReturn per unit of downside risk | -2.49 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.29 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.54 | 2.24 | -2.78 |
| Martin ratioReturn relative to average drawdown | -1.31 | 11.30 | -12.61 |
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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 | -38.56% | -6.68% | -31.88% |
Max Drawdown (3Y)Largest decline over 3 years | -83.83% | -22.43% | -61.40% |
Max Drawdown (5Y)Largest decline over 5 years | -87.70% | -33.40% | -54.30% |
Max Drawdown (10Y)Largest decline over 10 years | -99.71% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -2.39% | -97.61% |
Average DrawdownAverage peak-to-trough decline | -99.12% | -7.78% | -91.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.97% | 1.32% | +14.65% |
Volatility
FAZ vs. QTJL - Volatility Comparison
Direxion Daily Financial Bear 3X Shares (FAZ) has a higher volatility of 12.94% compared to Innovator Growth Accelerated Plus ETF - July (QTJL) at 3.81%. 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 | 12.94% | 3.81% | +9.13% |
Volatility (6M)Calculated over the trailing 6-month period | 33.63% | 8.24% | +25.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.06% | 10.50% | +33.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.56% | 20.33% | +35.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.85% | 20.27% | +41.58% |
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 3.41%, 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 | 3.41% | 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 -0.40, 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 QTJL (3.81%). In terms of maximum drawdown, FAZ dropped -100.00% vs QTJL's -33.40%.
On 5-year performance, QTJL leads with 9.67% vs -32.04% for FAZ. On fees, QTJL is cheaper at 0.79% per year. On volatility, QTJL has been the lower-risk option at 3.81%. 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 9.67% return vs -32.04%. 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 3.41%, 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 (1.43 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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