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ETFs

Direxion Daily Financial Bear 3x Shares

FAZ
$—
Today’s Change
— (—)

Snapshot
*

Inception Date
Nov 6, 2008
Expense Ratio
0.95%
Type
US Equities
Fund Owner
Direxion Shares
Volume (1m avg. daily)
$25,855,185
AUM
$162,863,410
Associated Index
Financial Select Sector Index
Inverse/Leveraged
Inverse (-3x)
Passive/Active
Passive
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

—
DREYFUS TRSRY SECURITIES CASH MGMT
-3.51%
—
DREYFUS GOVT CASH MAN INS
-15.91%
—
GOLDMAN FINL SQ TRSRY INST 506
-25.99%
Invest with FAZ
Trade FAZ Options

What is FAZ?

The Direxion Daily Financial Bull (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).

1M
3M
6M
YTD
1Y
3Y
Max
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FAZ
Performance Measures**

for the time period Nov 6, 2008 to Dec 4, 2025

Returns

1M Trailing Return: —

The percent change in the value over the most recent 1-month period.

3M Trailing Return: —

The percent change in the value over the most recent 3-month period.

Measures of Risk or Volatility

Max Drawdown: -100.0%

The greatest percent loss from peak to trough in value over the time period.

Standard Deviation: 229.8%

The typical amount that daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

Measures of Risk-Adjusted Performance

Sharpe Ratio: 0.05

The annualized arithmetic mean of the daily returns divided by the annualized standard deviation of the daily returns for the selected time period.

Calmar Ratio: -0.54

The annualized return divided by the max drawdown for the selected time period.

ETFs related toFAZ

ETFs correlated to FAZ include BNKD, DOG, SDOW

FAZ
Direxion Shares ETF Trust - Direxion Daily Financial Bear 3x Shares
BNKD
Bank of Montreal - MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs
DOG
ProShares Trust - ProShares Short Dow30 -1x Shares
SDOW
ProShares Trust - ProShares UltraPro Short Dow30 -3x Shares
DXD
ProShares Trust - ProShares UltraShort Dow 30-2X Shares
TWM
ProShares Trust - ProShares UltraShort Russell2000 -2x Shares
RWM
ProShares Trust - ProShares Short Russell2000 -1x Shares
TZA
Direxion Shares ETF Trust - Direxion Daily Small Cap Bear 3X Shares
SRTY
ProShares Trust - ProShares UltraPro Short Russell2000 -3x Shares
SH
ProShares Trust - ProShares Short S&P500 -1x Shares
SDS
ProShares Trust - ProShares UltraShort S&P500 -2x Shares

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.

Trading Strategies
Related toFAZ

CounterBalancer - LowMed R/R LBT

Category

Tactical asset allocation, risk-on/risk-off, leveraged ETFs, momentum, mean reversion, bonds vs stocks, volatility hedges

OOS Cumulative Return

345.86%

Protected Leverage v2.5a + V1e Fund Surfing - K-1 Free

Category

Tactical allocation, risk-on/risk-off, leveraged ETFs, mean reversion, momentum, defensive hedges, currencies & commodities, K‑1 free, daily rebalance

OOS Cumulative Return

190.74%

Create your own algorithmic trading strategy with FAZ using Composer

FAQ

FAZ is a US Equities ETF. The Direxion Daily Financial Bull (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).

FAZ tracks the Financial Select Sector Index.

No, FAZ 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, FAZ 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 FAZ is 0.0076%. This is the percent change in the value of FAZ over the most recent 1-month period. The 3-month return on FAZ is -0.0757%. This is the percent change in the value of FAZ over the most recent 3-month period.

The standard deviation of FAZ for the past year is 0.5832%. 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 FAZ include SSO, TNA, and SPXL.

ETFs correlated to FAZ include BNKD, DOG, and SDOW.

ETFs that are inversely correlated to FAZ include FAS, XLF, and IYF.

Yes, FAZ is a Inverse (-3x) ETF: This means that FAZ will try to match the performance of Financial Select Sector Index, but with 3x the returns.

Yes, FAZ is a Inverse (-3x) leveraged ETF: This means that FAZ will try to match the performance of Financial Select Sector Index, but move 3x in the opposite direction.

Disclaimers

*

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.