RETL vs. FAS

Last updated Aug 2, 2026

RETL (Direxion Daily Retail Bull 3X Shares) and FAS (Direxion Daily Financial Bull 3X ETF) are both Leveraged Equities funds from Direxion - RETL tracks the Russell 1000 Retail Index (300%) while FAS tracks the Financial Select Sector Index. Both are passively managed. Over the past 10 years, RETL returned -4.91%/yr vs 22.40%/yr for FAS. Their 0.62 correlation means they have sometimes moved together and sometimes differently. RETL charges 0.99%/yr vs 0.88%/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 ETF (FAS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with RETL having a 4.29% return and FAS slightly lower at 4.28%. Over the past 10 years, RETL has underperformed FAS with an annualized return of -4.91%, while FAS has yielded a comparatively higher 22.40% annualized return.

RETL

• 1D: -2.65%
• 1M: 4.48%
• 6M: 1.86%
• YTD: 4.29%
• 1Y: 25.37%
• 3Y*: 6.42%
• 5Y*: -25.86%
• 10Y*: -4.91%
• ALL TIME*: 14.86%

FAS

• 1D: -0.26%
• 1M: 6.21%
• 6M: 13.95%
• YTD: 4.28%
• 1Y: 20.90%
• 3Y*: 39.15%
• 5Y*: 13.37%
• 10Y*: 22.40%
• ALL TIME*: 14.10%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FAS Direxion Daily Financial Bull 3X ETF	$68.48M	$83.31M	$86.79M
RETL Direxion Daily Retail Bull 3X Shares	$3.76M	$4.05M	$5.48M

RETL vs. FAS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RETL Direxion Daily Retail Bull 3X Shares	4.29%	-5.98%	9.59%	33.62%	-80.80%	101.03%	63.63%	23.41%	-35.21%	-1.31%
FAS Direxion Daily Financial Bull 3X ETF	4.28%	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 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.51
Correlation (3Y) Balances recent behavior with more history.	0.59
Correlation (5Y) Shows whether the relationship held over a longer period.	0.65
Correlation (10Y) Provides a long-term view across more market conditions.	0.63
Correlation (All Time) Calculated using the full available price history since Jul 14, 2010	0.62

The correlation between RETL and FAS shifts across timeframes, from 0.51 (1 year) to 0.65 (5 years), reflecting how their relationship changes across market environments.

RETL vs. FAS - Sectors Allocation Comparison

Sectors	RETL	FAS
Consumer Cyclical	75.2%	-
Consumer Defensive	18.7%	-
Technology	2.7%	1.6%
Communication Services	1.8%	-
Healthcare	1.6%	-
Energy	0.3%	-
Basic Materials	-	-
Financial Services	-	98.2%
Industrials	-	0.2%
Real Estate	-	-
Utilities	-	-

Return for Risk

RETL vs. FAS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RETL

RETL Risk / Return Rank: 22
RETL Sharpe Ratio Rank: 19
RETL Sortino Ratio Rank: 26
RETL Omega Ratio Rank: 24
RETL Calmar Ratio Rank: 21
RETL Martin Ratio Rank: 19

FAS

FAS Risk / Return Rank: 19
FAS Sharpe Ratio Rank: 18
FAS Sortino Ratio Rank: 21
FAS Omega Ratio Rank: 21
FAS Calmar Ratio Rank: 17
FAS Martin Ratio Rank: 16

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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 ETF (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.

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.

	RETL	FAS	Difference
Sharpe ratio: Return per unit of total volatility	0.37	0.33	+0.04
Sortino ratio: Return per unit of downside risk	0.97	0.73	+0.24
Omega ratio: Gain probability vs. loss probability	1.11	1.09	+0.02
Calmar ratio: Return relative to maximum drawdown	0.59	0.35	+0.24
Martin ratio: Return relative to average drawdown	1.15	0.78	+0.37

RETL vs. FAS - Sharpe Ratio Comparison

The current RETL Sharpe Ratio is 0.37, which is comparable to the FAS Sharpe Ratio of 0.33. 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.

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	-82.09%	-4.32%	-77.77%
Average Drawdown Average peak-to-trough decline	-37.99%	-30.97%	-7.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.45%	18.40%	+1.05%

Volatility

RETL vs. FAS - Volatility Comparison

Direxion Daily Retail Bull 3X Shares (RETL) has a higher volatility of 17.87% compared to Direxion Daily Financial Bull 3X ETF (FAS) at 11.99%. 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	17.87%	11.99%	+5.88%
Volatility (6M) Calculated over the trailing 6-month period	44.19%	32.90%	+11.29%
Volatility (1Y) Calculated over the trailing 1-year period	61.62%	43.83%	+17.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	79.45%	54.99%	+24.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.05%	61.11%	+18.94%

RETL vs. FAS - Expense Ratio Comparison

RETL has a 0.99% expense ratio, which is higher than FAS's 0.88% expense ratio.

Dividends

RETL vs. FAS - Dividend Comparison

RETL's dividend yield for the trailing twelve months is around 0.48%, less than FAS's 8.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FAS Direxion Daily Financial Bull 3X ETF	8.05%	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	0.48%	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 0.51, 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 (17.87%) compared to FAS (11.99%). 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 22.40% vs -4.91% for RETL. On fees, FAS is cheaper at 0.88% per year. On volatility, FAS has been the lower-risk option at 11.99%. 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 22.40% return vs -4.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RETL or FAS?

FAS is cheaper with a 0.88% expense ratio, compared with 0.99% for RETL.

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

FAS has the higher dividend yield at 8.05%, compared with 0.48% for RETL.

What is the main difference between RETL and FAS?

RETL tracks Russell 1000 Retail Index (300%), while FAS tracks Financial Select Sector Index. Their fees differ too: 0.99% for RETL and 0.88% for FAS.

Which has better risk-adjusted returns?

RETL currently has the higher Sharpe Ratio (0.36 vs 0.33), 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.