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ETFs

Direxion Daily Financial Bull 3x Shares

FAS
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Nov 06 2008
Expense Ratio
0.92%
Type
US Equities
Fund Owner
Direxion Shares
Volume (1m avg. daily)
$178,067,144
AUM
$1,554,807,152
Associated Index
Financials Select Sector Index
Inverse/Leveraged
Leveraged (3x)
Passive/Active
Passive
Fractionable on Composer
Yes
Prospectus
View

Top 10 Holdings

n/a
DREYFUS GOVT CASH MGMT
3.32%
n/a
DREYFUS GOVT CASH MGMT
3.17%
BRK/B
Berkshire Hathaway Inc. - Ordinary Shares - Class B
2.70%
JPM
JPMorgan Chase & Co.
1.87%
V
Visa Inc - Ordinary Shares - Class A
1.79%
n/a
GOLDMAN FS GOVT INST
1.68%
MA
Mastercard Incorporated - Ordinary Shares - Class A
1.48%
n/a
GOLDMAN FINL SQ TRSRY INS
1.45%
n/a
GOLDMAN FINL SQ TRSRY INST 506
1.20%
BAC
Bank Of America Corp.
0.97%
Invest with FAS

What is FAS?

The Direxion Daily Financial Bull (FAS) and Bear (FAZ) 3X Shares seek daily investment results, before fees and expenses, of 300%, or 300% of the inverse (or opposite), of the performance of the of the performance of the Financial Select Sector TR Index (IXMTR). The Financial Select Sector TR Index (IXMTR) is provided by S&P Dow Jones Indices and includes securities of companies from the following industries: Banks; Thrifts & Mortgage Finance; Diversified Financial Services; Consumer Finance; Capital Markets; Insurance; and Mortgage Real Estate Investment Trusts (REITs). August 1st, Direxion Daily Financial Bull 3x Shares (FAS) changed its index from the Russell 1000 Financials 40 Act 15/22.5 Daily Capped Index to the Financials Select Sector Index.

ETFs related toFAS

ETFs correlated to FAS include IYF, XLF, VFH

FAS
Direxion Shares ETF Trust - Direxion Daily Financial Bull 3x Shares
IYF
BlackRock Institutional Trust Company N.A. - iShares U.S. Financials ETF
XLF
SSgA Active Trust - Financial Select Sector SPDR
VFH
Vanguard Group, Inc. - Vanguard Financials ETF
FNCL
Fidelity Covington Trust - Fidelity MSCI Financials Index ETF
RYF
Invesco Capital Management LLC - Invesco S&P 500 Equal Weight Financials ETF
IYG
BlackRock Institutional Trust Company N.A. - iShares U.S. Financial Services ETF
UYG
ProShares Trust - ProShares Ultra Financials 2x Shares
FXO
First Trust Exchange-Traded Fund III - First Trust Financials AlphaDEX Fund
IXG
BlackRock Institutional Trust Company N.A. - iShares Global Financials ETF
SPVU
Invesco Capital Management LLC - Invesco S&P 500 Enhanced Value ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

Automated Strategies
Related toFAS

#BORING

The Not Boring: Rising Rates with Vol Switch

Category

Community

Risk Rating

Aggressive

#OPUS-8

Opus-8

Category

Opus

Risk Rating

Conservative

Create your own algorithmic trading strategy with FAS using Composer

FAQ

FAS is a US Equities ETF. The Direxion Daily Financial Bull (FAS) and Bear (FAZ) 3X Shares seek daily investment results, before fees and expenses, of 300%, or 300% of the inverse (or opposite), of the performance of the of the performance of the Financial Select Sector TR Index (IXMTR). The Financial Select Sector TR Index (IXMTR) is provided by S&P Dow Jones Indices and includes securities of companies from the following industries: Banks; Thrifts & Mortgage Finance; Diversified Financial Services; Consumer Finance; Capital Markets; Insurance; and Mortgage Real Estate Investment Trusts (REITs). August 1st, Direxion Daily Financial Bull 3x Shares (FAS) changed its index from the Russell 1000 Financials 40 Act 15/22.5 Daily Capped Index to the Financials Select Sector Index.

FAS tracks the Financials Select Sector Index.

No, FAS is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, FAS is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on FAS is -0.3544%. This is the percent change in the value of FAS over the most recent 1-month period. The 3-month return on FAS is -0.251%. This is the percent change in the value of FAS over the most recent 3-month period.

The standard deviation of FAS for the past year is 0.723%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to FAS include QID, TZA, and QLD.

ETFs correlated to FAS include IYF, XLF, and VFH.

ETFs that are inversely correlated to FAS include FAZ, SKF, and SEF.

Yes, FAS is a Leveraged (3x) ETF: This means that FAS will try to match the performance of Financials Select Sector Index, but with 3x the returns.

Yes, FAS is a Leveraged (3x) leveraged ETF: This means that {characteristics.Identifier} will try to match the performance of Financials Select Sector Index, but move 3x in the opposite direction.

Disclaimers

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We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.