FLCV vs. FAZ
FLCV (Federated Hermes MDT Large Cap Value ETF) and FAZ (Direxion Daily Financial Bear 3X Shares) are both exchange-traded funds - FLCV is a Large Cap Value Equities fund actively managed by Federated Hermes, while FAZ is a Leveraged Equities fund tracking the Russell 1000 Financial Services Index (-300%). FLCV is actively managed, while FAZ is passively managed. Over the past year, FLCV returned 24.24% vs -9.06% for FAZ. At a correlation of -0.81, they often move in opposite directions. FLCV charges 0.32%/yr vs 1.07%/yr for FAZ.
Performance
FLCV vs. FAZ - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with FLCV having a 13.49% return and FAZ slightly lower at 13.24%.
FLCV
- 1D
- 0.45%
- 1M
- 3.16%
- YTD
- 13.49%
- 6M
- 14.71%
- 1Y
- 24.24%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FAZ
- 1D
- -7.67%
- 1M
- -3.27%
- YTD
- 13.24%
- 6M
- 6.04%
- 1Y
- -9.06%
- 3Y*
- -38.68%
- 5Y*
- -27.22%
- 10Y*
- -43.18%
FLCV vs. FAZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FLCV Federated Hermes MDT Large Cap Value ETF | 13.49% | 15.64% | 6.56% |
FAZ Direxion Daily Financial Bear 3X Shares | 13.24% | -37.21% | -27.02% |
Correlation
The correlation between FLCV and FAZ 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 (All Time) Calculated using the full available price history since Aug 1, 2024 | -0.81 |
The correlation between FLCV and FAZ has been stable across timeframes, ranging from -0.81 to -0.77 - a consistent structural relationship.
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Return for Risk
FLCV vs. FAZ — Risk / Return Rank
FLCV
FAZ
FLCV vs. FAZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Large Cap Value ETF (FLCV) and Direxion Daily Financial Bear 3X Shares (FAZ). 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.
| FLCV | FAZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.37 | ||
| Sortino ratioReturn per unit of downside risk | +3.10 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.00 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 4.27 | -0.30 | +4.57 |
| Martin ratioReturn relative to average drawdown | 16.00 | -0.55 | +16.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FLCV | FAZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.16 | -0.21 | +2.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.49 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.70 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.34 | -0.72 | +2.07 |
Drawdowns
FLCV vs. FAZ - Drawdown Comparison
The maximum FLCV drawdown since its inception was -15.93%, smaller than the maximum FAZ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for FLCV and FAZ.
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Drawdown Indicators
| FLCV | FAZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.93% | -100.00% | +84.07% |
Max Drawdown (1Y)Largest decline over 1 year | -5.70% | -30.20% | +24.50% |
Max Drawdown (3Y)Largest decline over 3 years | — | -83.61% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -87.53% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.78% | — |
Current DrawdownCurrent decline from peak | 0.00% | -100.00% | +100.00% |
Average DrawdownAverage peak-to-trough decline | -2.03% | -99.14% | +97.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.52% | 16.64% | -15.12% |
Volatility
FLCV vs. FAZ - Volatility Comparison
The current volatility for Federated Hermes MDT Large Cap Value ETF (FLCV) is 2.61%, while Direxion Daily Financial Bear 3X Shares (FAZ) has a volatility of 12.41%. This indicates that FLCV experiences smaller price fluctuations and is considered to be less risky than FAZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLCV | FAZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.61% | 12.41% | -9.80% |
Volatility (6M)Calculated over the trailing 6-month period | 8.21% | 33.18% | -24.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.30% | 43.76% | -32.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.94% | 55.93% | -40.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.94% | 62.10% | -47.16% |
FLCV vs. FAZ - Expense Ratio Comparison
FLCV has a 0.32% expense ratio, which is lower than FAZ's 1.07% expense ratio.
Dividends
FLCV vs. FAZ - Dividend Comparison
FLCV's dividend yield for the trailing twelve months is around 0.73%, less than FAZ's 3.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FAZ Direxion Daily Financial Bear 3X Shares | 3.00% | 5.07% | 7.34% | 4.88% | 0.00% | 0.00% | 0.62% | 1.63% | 0.56% |
FLCV Federated Hermes MDT Large Cap Value ETF | 0.73% | 0.83% | 0.24% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FLCV and FAZ 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 (12.41%) compared to FLCV (2.61%). In terms of maximum drawdown, FLCV dropped -15.93% vs FAZ's -100.00%.
On 1-year performance, FLCV leads with 24.24% vs -9.06% for FAZ. On fees, FLCV is cheaper at 0.32% per year. On volatility, FLCV has been the lower-risk option at 2.61%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FLCV has performed better with a 24.24% return vs -9.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLCV is cheaper with a 0.32% expense ratio, compared with 1.07% for FAZ.
FAZ has the higher dividend yield at 3.00%, compared with 0.73% for FLCV.
FLCV is categorized as Large Cap Value Equities, while FAZ is Leveraged Equities. They also come from different issuers: Federated Hermes and Direxion. Their fees differ too: 0.32% for FLCV and 1.07% for FAZ.
FLCV currently has the higher Sharpe Ratio (2.16 vs -0.21), 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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