FAZ vs. VLLU
FAZ (Direxion Daily Financial Bear 3X Shares) and VLLU (Harbor AlphaEdge Large Cap Value ETF) are both exchange-traded funds - FAZ is a Leveraged Equities fund tracking the Russell 1000 Financial Services Index (-300%), while VLLU is a Large Cap Value Equities fund tracking the Harbor AlphaEdge Large Cap Value Index. Both are passively managed. Over the past year, FAZ returned -24.30% vs 23.21% for VLLU. At a correlation of -0.77, they often move in opposite directions. FAZ charges 1.07%/yr vs 0.25%/yr for VLLU.
Performance
FAZ vs. VLLU - Performance Comparison
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Returns By Period
In the year-to-date period, FAZ achieves a -12.56% return, which is significantly lower than VLLU's 11.09% return.
FAZ
- 1D
- -0.90%
- 1M
- -12.87%
- 6M
- -14.37%
- YTD
- -12.56%
- 1Y
- -24.30%
- 3Y*
- -40.38%
- 5Y*
- -32.90%
- 10Y*
- -44.36%
VLLU
- 1D
- -0.18%
- 1M
- -1.45%
- 6M
- 8.25%
- YTD
- 11.09%
- 1Y
- 23.21%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FAZ vs. VLLU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FAZ Direxion Daily Financial Bear 3X Shares | -12.56% | -37.21% | -18.40% |
VLLU Harbor AlphaEdge Large Cap Value ETF | 11.09% | 17.35% | 1.89% |
Correlation
The correlation between FAZ and VLLU is -0.69, 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 | -0.69 |
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024 | -0.77 |
The correlation between FAZ and VLLU has been stable across timeframes, ranging from -0.77 to -0.69 - a consistent structural relationship.
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Return for Risk
FAZ vs. VLLU — Risk / Return Rank
FAZ
VLLU
FAZ vs. VLLU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Financial Bear 3X Shares (FAZ) and Harbor AlphaEdge Large Cap Value ETF (VLLU). 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 | VLLU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.64 | ||
| Sortino ratioReturn per unit of downside risk | -3.66 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.36 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.60 | 3.68 | -4.28 |
| Martin ratioReturn relative to average drawdown | -1.47 | 13.40 | -14.87 |
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Drawdowns
FAZ vs. VLLU - Drawdown Comparison
The maximum FAZ drawdown since its inception was -100.00%, which is greater than VLLU's maximum drawdown of -16.62%. Use the drawdown chart below to compare losses from any high point for FAZ and VLLU.
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Drawdown Indicators
| FAZ | VLLU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -16.62% | -83.38% |
Max Drawdown (1Y)Largest decline over 1 year | -40.37% | -6.33% | -34.04% |
Max Drawdown (3Y)Largest decline over 3 years | -84.31% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -88.07% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.72% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -1.46% | -98.54% |
Average DrawdownAverage peak-to-trough decline | -99.12% | -2.37% | -96.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.53% | 1.74% | +14.79% |
Volatility
FAZ vs. VLLU - Volatility Comparison
Direxion Daily Financial Bear 3X Shares (FAZ) has a higher volatility of 12.53% compared to Harbor AlphaEdge Large Cap Value ETF (VLLU) at 2.91%. This indicates that FAZ's price experiences larger fluctuations and is considered to be riskier than VLLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAZ | VLLU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.53% | 2.91% | +9.62% |
Volatility (6M)Calculated over the trailing 6-month period | 33.10% | 8.49% | +24.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.71% | 11.20% | +32.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.53% | 14.67% | +40.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.83% | 14.67% | +47.16% |
FAZ vs. VLLU - Expense Ratio Comparison
FAZ has a 1.07% expense ratio, which is higher than VLLU's 0.25% expense ratio.
Dividends
FAZ vs. VLLU - Dividend Comparison
FAZ's dividend yield for the trailing twelve months is around 3.54%, more than VLLU's 1.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FAZ Direxion Daily Financial Bear 3X Shares | 3.54% | 5.07% | 7.34% | 4.88% | 0.00% | 0.00% | 0.62% | 1.63% | 0.56% |
VLLU Harbor AlphaEdge Large Cap Value ETF | 1.37% | 1.52% | 0.90% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FAZ and VLLU have a correlation of -0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FAZ has higher volatility (12.53%) compared to VLLU (2.91%). In terms of maximum drawdown, FAZ dropped -100.00% vs VLLU's -16.62%.
On 1-year performance, VLLU leads with 23.21% vs -24.30% for FAZ. On fees, VLLU is cheaper at 0.25% per year. On volatility, VLLU 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 1-year period, VLLU has performed better with a 23.21% return vs -24.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VLLU is cheaper with a 0.25% expense ratio, compared with 1.07% for FAZ.
FAZ has the higher dividend yield at 3.54%, compared with 1.37% for VLLU.
FAZ is categorized as Leveraged Equities, while VLLU is Large Cap Value Equities. FAZ tracks Russell 1000 Financial Services Index (-300%), while VLLU tracks Harbor AlphaEdge Large Cap Value Index. They also come from different issuers: Direxion and Harbor. Their fees differ too: 1.07% for FAZ and 0.25% for VLLU.
VLLU currently has the higher Sharpe Ratio (2.08 vs -0.56), 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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