UCC vs. FAS
UCC (ProShares Ultra Consumer Services) and FAS (Direxion Daily Financial Bull 3X Shares) are both Leveraged Equities funds - UCC tracks the Dow Jones U.S. Consumer Services Index (200%) while FAS tracks the Russell 1000 Financial Services Index (300%). Both are passively managed. Over the past 10 years, UCC returned 13.99%/yr vs 21.20%/yr for FAS. A 0.64 correlation means they provide meaningful diversification when combined. UCC charges 0.95%/yr vs 1.00%/yr for FAS.
Performance
UCC vs. FAS - Performance Comparison
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Returns By Period
In the year-to-date period, UCC achieves a -8.62% return, which is significantly higher than FAS's -13.50% return. Over the past 10 years, UCC has underperformed FAS with an annualized return of 13.99%, while FAS has yielded a comparatively higher 21.20% annualized return.
UCC
- 1D
- 0.57%
- 1M
- -4.37%
- YTD
- -8.62%
- 6M
- -10.29%
- 1Y
- 12.48%
- 3Y*
- 14.37%
- 5Y*
- -0.24%
- 10Y*
- 13.99%
FAS
- 1D
- 4.15%
- 1M
- 10.95%
- YTD
- -13.50%
- 6M
- -13.89%
- 1Y
- 7.93%
- 3Y*
- 38.21%
- 5Y*
- 7.30%
- 10Y*
- 21.20%
UCC vs. FAS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UCC ProShares Ultra Consumer Services | -8.62% | 2.21% | 44.24% | 61.67% | -57.59% | 20.92% | 46.55% | 53.76% | -4.94% | 42.05% |
FAS Direxion Daily Financial Bull 3X Shares | -13.50% | 21.48% | 84.47% | 14.92% | -43.19% | 116.59% | -34.97% | 113.04% | -33.84% | 67.37% |
Correlation
The correlation between UCC and FAS is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Nov 19, 2008 | 0.64 |
The correlation between UCC and FAS has been stable across timeframes, ranging from 0.54 to 0.64 - a consistent structural relationship.
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Return for Risk
UCC vs. FAS — Risk / Return Rank
UCC
FAS
UCC vs. FAS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Consumer Services (UCC) 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.
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.
| UCC | FAS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.04 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.35 | 0.03 | +0.32 |
| Martin ratioReturn relative to average drawdown | 0.97 | 0.08 | +0.89 |
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Drawdowns
UCC vs. FAS - Drawdown Comparison
The maximum UCC drawdown since its inception was -83.05%, smaller than the maximum FAS drawdown of -91.61%. Use the drawdown chart below to compare losses from any high point for UCC and FAS.
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Drawdown Indicators
| UCC | FAS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.05% | -91.61% | +8.56% |
Max Drawdown (1Y)Largest decline over 1 year | -29.14% | -40.88% | +11.74% |
Max Drawdown (3Y)Largest decline over 3 years | -48.01% | -43.10% | -4.91% |
Max Drawdown (5Y)Largest decline over 5 years | -61.77% | -66.88% | +5.11% |
Max Drawdown (10Y)Largest decline over 10 years | -61.77% | -85.99% | +24.22% |
Current DrawdownCurrent decline from peak | -18.41% | -20.63% | +2.22% |
Average DrawdownAverage peak-to-trough decline | -21.80% | -31.12% | +9.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.45% | 17.97% | -7.52% |
Volatility
UCC vs. FAS - Volatility Comparison
ProShares Ultra Consumer Services (UCC) and Direxion Daily Financial Bull 3X Shares (FAS) have volatilities of 12.41% and 12.45%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UCC | FAS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.41% | 12.45% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 27.05% | 33.46% | -6.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.41% | 43.61% | -7.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.70% | 55.59% | -11.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.68% | 61.33% | -20.65% |
UCC vs. FAS - Expense Ratio Comparison
UCC has a 0.95% expense ratio, which is lower than FAS's 1.00% expense ratio.
Dividends
UCC vs. FAS - Dividend Comparison
UCC's dividend yield for the trailing twelve months is around 1.18%, less than FAS's 9.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAS Direxion Daily Financial Bull 3X Shares | 9.64% | 8.21% | 0.76% | 1.77% | 0.91% | 0.60% | 0.47% | 0.62% | 1.43% | 0.11% | 0.00% | 0.00% |
UCC ProShares Ultra Consumer Services | 1.18% | 1.10% | 0.17% | 0.04% | 0.25% | 0.00% | 0.02% | 0.17% | 0.18% | 0.14% | 0.21% | 0.14% |
Frequently Asked Questions
UCC and FAS have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FAS has higher volatility (12.45%) compared to UCC (12.41%). In terms of maximum drawdown, UCC dropped -83.05% vs FAS's -91.61%.
On 10-year performance, FAS leads with 21.20% vs 13.99% for UCC. On fees, UCC is cheaper at 0.95% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FAS has performed better with a 21.20% return vs 13.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UCC is cheaper with a 0.95% expense ratio, compared with 1.00% for FAS.
FAS has the higher dividend yield at 9.64%, compared with 1.18% for UCC.
UCC tracks Dow Jones U.S. Consumer Services Index (200%), while FAS tracks Russell 1000 Financial Services Index (300%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for UCC and 1.00% for FAS.
UCC currently has the higher Sharpe Ratio (0.28 vs 0.03), 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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