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ETFs

Direxion Daily Financial Bull 3x Shares

FAS
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Nov 6, 2008
Expense Ratio
0.91%
Type
US Equities
Fund Owner
Direxion Shares
Volume (1m avg. daily)
$34,356,572
AUM
$1,620,528,827
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 MAN INS
5.66%
BRK/B
Berkshire Hathaway Inc. - Ordinary Shares - Class B
3.25%
JPM
JPMorgan Chase & Co.
2.10%
V
Visa Inc - Ordinary Shares - Class A
1.87%
MA
Mastercard Incorporated - Ordinary Shares - Class A
1.66%
n/a
GOLDMAN FINL SQ TRSRY INST 506
1.37%
n/a
GOLDMAN SACHS FIN GOV 465 INSTITUT
0.99%
BAC
Bank Of America Corp.
0.95%
WFC
Wells Fargo & Co.
0.75%
SPGI
S&P Global Inc
0.60%
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 XLF, IYF, VFH

FAS
Direxion Shares ETF Trust - Direxion Daily Financial Bull 3x Shares
XLF
SSgA Active Trust - Financial Select Sector SPDR
IYF
BlackRock Institutional Trust Company N.A. - iShares U.S. Financials ETF
VFH
Vanguard Group, Inc. - Vanguard Financials ETF
FNCL
Fidelity Covington Trust - Fidelity MSCI Financials Index ETF
IYG
BlackRock Institutional Trust Company N.A. - iShares U.S. Financial Services ETF
DFUV
Dimensional ETF Trust - Dimensional US Marketwide Value ETF
JAVA
J.P. Morgan Exchange-Traded Fund Trust - JPMorgan Active Value ETF
RDVY
First Trust Exchange-Traded Fund III - First Trust Rising Dividend Achievers ETF
IWD
BlackRock Institutional Trust Company N.A. - iShares Russell 1000 Value ETF
PRF
Invesco Capital Management LLC - Invesco FTSE RAFI US 1000 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

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Category

Community

Risk Rating

Aggressive

#PTS

Pick the Trending Sector

Category

Grow Your Portfolio, Ride the Momentum

Risk Rating

Aggressive

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 -0.0102%. This is the percent change in the value of FAS over the most recent 1-month period. The 3-month return on FAS is 0.0701%. 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 0.579%. 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 SSO, QID, and SDS.

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

ETFs that are inversely correlated to FAS include FAZ, BNKD, and DOG.

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.