RETL vs. FAS

Last updated Jun 3, 2026

RETL (Direxion Daily Retail Bull 3X Shares) and FAS (Direxion Daily Financial Bull 3X Shares) are both Leveraged Equities funds from Direxion - RETL tracks the Russell 1000 Retail Index (300%) while FAS tracks the Russell 1000 Financial Services Index (300%). Both are passively managed. Over the past 10 years, RETL returned -5.53%/yr vs 18.78%/yr for FAS. A 0.62 correlation means they provide meaningful diversification when combined. RETL charges 0.99%/yr vs 1.00%/yr for FAS.

Performance

RETL vs. FAS - Performance Comparison

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

Returns By Period

In the year-to-date period, RETL achieves a -12.88% return, which is significantly higher than FAS's -21.74% return. Over the past 10 years, RETL has underperformed FAS with an annualized return of -5.53%, while FAS has yielded a comparatively higher 18.78% annualized return.

RETL

• 1D: 1.39%
• 1M: -8.46%
• YTD: -12.88%
• 6M: -10.06%
• 1Y: 8.48%
• 3Y*: 12.96%
• 5Y*: -28.26%
• 10Y*: -5.53%

FAS

• 1D: 0.24%
• 1M: -3.63%
• YTD: -21.74%
• 6M: -12.79%
• 1Y: -8.69%
• 3Y*: 35.72%
• 5Y*: 3.84%
• 10Y*: 18.78%

*Multi-year figures are annualized to reflect compound growth (CAGR)

RETL vs. FAS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RETL Direxion Daily Retail Bull 3X Shares	-12.88%	-5.98%	9.59%	33.62%	-80.80%	101.03%	63.63%	23.41%	-35.21%	-1.31%
FAS Direxion Daily Financial Bull 3X Shares	-21.74%	21.48%	84.47%	14.92%	-43.19%	116.59%	-34.97%	113.04%	-33.84%	67.37%

Correlation

The correlation between RETL and FAS is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Jul 15, 2010	0.62

The correlation between RETL and FAS has been stable across timeframes, ranging from 0.57 to 0.66 - a consistent structural relationship.

RETL vs. FAS - Sectors Allocation Comparison

Sectors	RETL	FAS
Consumer Cyclical	14.0%	-
Consumer Defensive	3.9%	-
Communication Services	0.3%	-
Technology	0.3%	1.7%
Healthcare	0.3%	-
Energy	0.3%	-
Basic Materials	-	-
Financial Services	-	98.0%
Industrials	-	0.2%
Real Estate	-	-
Utilities	-	-

Return for Risk

RETL vs. FAS — Risk / Return Rank

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

RETL

RETL Risk / Return Rank: 12
RETL Sharpe Ratio Rank: 11
RETL Sortino Ratio Rank: 14
RETL Omega Ratio Rank: 13
RETL Calmar Ratio Rank: 11
RETL Martin Ratio Rank: 11

FAS

FAS Risk / Return Rank: 7
FAS Sharpe Ratio Rank: 7
FAS Sortino Ratio Rank: 8
FAS Omega Ratio Rank: 8
FAS Calmar Ratio Rank: 7
FAS Martin Ratio Rank: 6

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

RETL vs. FAS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Retail Bull 3X Shares (RETL) 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.

	RETL	FAS	Difference
Sharpe ratio Return per unit of total volatility	0.14	-0.20	+0.35
Sortino ratio Return per unit of downside risk	0.65	0.00	+0.65
Omega ratio Gain probability vs. loss probability	1.07	1.00	+0.07
Calmar ratio Return relative to maximum drawdown	0.26	-0.20	+0.46
Martin ratio Return relative to average drawdown	0.55	-0.47	+1.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RETL vs. FAS - Sharpe Ratio Comparison

The current RETL Sharpe Ratio is 0.14, which is higher than the FAS Sharpe Ratio of -0.20. The chart below compares the historical Sharpe Ratios of RETL and FAS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RETL	FAS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.14	-0.20	+0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.36	0.07	-0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.07	0.31	-0.38
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.20	0.00

Drawdowns

RETL vs. FAS - Drawdown Comparison

The maximum RETL drawdown since its inception was -92.00%, roughly equal to the maximum FAS drawdown of -91.61%. Use the drawdown chart below to compare losses from any high point for RETL and FAS.

Drawdown Indicators

	RETL	FAS	Difference
Max Drawdown Largest peak-to-trough decline	-92.00%	-91.61%	-0.39%
Max Drawdown (1Y) Largest decline over 1 year	-38.08%	-40.88%	+2.80%
Max Drawdown (3Y) Largest decline over 3 years	-62.72%	-43.10%	-19.62%
Max Drawdown (5Y) Largest decline over 5 years	-92.00%	-66.88%	-25.12%
Max Drawdown (10Y) Largest decline over 10 years	-92.00%	-85.99%	-6.01%
Current Drawdown Current decline from peak	-85.04%	-28.19%	-56.85%
Average Drawdown Average peak-to-trough decline	-37.54%	-31.11%	-6.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.11%	17.40%	+0.71%

Volatility

RETL vs. FAS - Volatility Comparison

Direxion Daily Retail Bull 3X Shares (RETL) has a higher volatility of 20.25% compared to Direxion Daily Financial Bull 3X Shares (FAS) at 9.05%. This indicates that RETL's price experiences larger fluctuations and is considered to be riskier than FAS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RETL	FAS	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.25%	9.05%	+11.20%
Volatility (6M) Calculated over the trailing 6-month period	40.17%	32.42%	+7.75%
Volatility (1Y) Calculated over the trailing 1-year period	60.15%	42.62%	+17.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	79.51%	55.46%	+24.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	79.76%	61.30%	+18.46%

RETL vs. FAS - Expense Ratio Comparison

RETL has a 0.99% expense ratio, which is lower than FAS's 1.00% expense ratio.

Dividends

RETL vs. FAS - Dividend Comparison

RETL's dividend yield for the trailing twelve months is around 0.59%, less than FAS's 10.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FAS Direxion Daily Financial Bull 3X Shares	10.66%	8.21%	0.76%	1.77%	0.91%	0.60%	0.47%	0.62%	1.43%	0.11%	0.00%
RETL Direxion Daily Retail Bull 3X Shares	0.59%	0.58%	1.13%	1.35%	0.71%	0.22%	0.19%	0.92%	1.19%	0.01%	2.60%

Frequently Asked Questions

Can I hold both RETL and FAS in my portfolio?

RETL and FAS have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RETL or FAS?

RETL has higher volatility (20.25%) compared to FAS (9.05%). In terms of maximum drawdown, RETL dropped -92.00% vs FAS's -91.61%.

Which ETF is better, RETL or FAS?

On 10-year performance, FAS leads with 18.78% vs -5.53% for RETL. On fees, RETL is cheaper at 0.99% per year. On volatility, FAS has been the lower-risk option at 9.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RETL or FAS?

Over the 10-year period, FAS has performed better with a 18.78% return vs -5.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RETL or FAS?

RETL is cheaper with a 0.99% expense ratio, compared with 1.00% for FAS.

Which ETF pays a higher dividend yield, RETL or FAS?

FAS has the higher dividend yield at 10.66%, compared with 0.59% for RETL.

What is the main difference between RETL and FAS?

RETL tracks Russell 1000 Retail Index (300%), while FAS tracks Russell 1000 Financial Services Index (300%). Their fees differ too: 0.99% for RETL and 1.00% for FAS.

Which has better risk-adjusted returns?

RETL currently has the higher Sharpe Ratio (0.14 vs -0.20), 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.