Direxion Daily Financial Bull 3X ETF
$151.63−0.87 (−0.57%)
- Expense ratio
- 0.92%
- Fund size
- $2.1B
- 1Y return
- −7.8%
- Yield · Last 12 months
- 9.19%
- Holdings
- 84
- Volume · 30D
- 0.5M sh
- NAV per share
- $161.32
- 52W range
The ETF.net FAS Grade
Score 82 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.AScore 97Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 63Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 77Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.Not scoredDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 66Category rank
Our read on FAS
ALaunched in November 2008 with the banking system in flames, FAS is the veteran 3x trade on US financials. It aims to deliver three times the daily move of the Financial Select Sector Index, reset every single day.
The fund seeks a daily return equal to three times the performance of the Financial Select Sector Index, before fees and expenses. It is designed for a single-day objective rather than a multiple of the index’s cumulative return over longer periods.
Why people hold it
- Fee of 0.92% a year sits below the typical leveraged fund's, and undercuts the other top-graded names in its cohort, including ProShares' UYG at 0.94%.
- Actively traded and sized in the billions, so getting in and out is rarely the hard part. One of the more liquid implementations in the leveraged bull group.
- Running since 2008, which makes it one of the longest-lived leveraged sector funds on the tape, through credit crunches, zero rates, and rate shocks alike.
- One ticker, one decision: amplified daily exposure to the banks, brokers, and insurers in the Financial Select Sector Index.direxion.com
Worth knowing
- The 3x target resets daily. Hold through a choppy stretch and compounding can pull your result far from three times the index's move over that period.
- Leverage runs both directions: a rough day for financials lands three times as hard.
- It's a single sector. Rate policy, credit scares, and regulation drive the whole thing, so swings are sharper than a broad-market fund's.
FAS Holdings
- Stocks
- 84
- 78%
- IXM SWAP ASSET LEG (IXMBPL)
Sectors
- Financials98.1%
- Technology1.6%
- Industrials0.3%
Geography
- United States96.66%
- Switzerland1.54%
- Ireland0.81%
- Bermuda0.61%
- United Kingdom0.38%
FAS Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | FAS |
|---|---|
| Year to date | −8.6% |
| 1 month | −14.1% |
| 3 months | +2.8% |
| 1 year | −7.8% |
| 3 years | +40.1% |
| 5 years | +9.3% |
| 10 years | +19.6% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | FAS |
|---|---|---|
| 2026 YTD | −8.6% | |
| 2025 | +21.1% | |
| 2024 | +84.5% | |
| 2023 | +14.9% | |
| 2022 | −43.2% | |
| 2021 | +116.6% | |
| 2020 | −35.1% |
FAS in the news
ETF.net Research hasn’t filed on FAS yet — coverage lands here as it’s written.
FAS Dividends
- 9.19%
- $14.01
- $0.53 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Jun 23, 2026 | Jun 30, 2026 | $0.53 |
| Mar 24, 2026 | Mar 31, 2026 | $0.60 |
| Dec 23, 2025 | Dec 31, 2025 | $0.39 |
| Dec 10, 2025 | Dec 17, 2025 | $12.09 |
| Sep 23, 2025 | Sep 30, 2025 | $0.39 |
| Jun 24, 2025 | Jul 1, 2025 | $0.50 |
| Mar 25, 2025 | Apr 1, 2025 | $0.46 |
| Dec 23, 2024 | Dec 31, 2024 | $0.19 |
| Sep 24, 2024 | Oct 1, 2024 | $0.32 |
| Jun 25, 2024 | Jul 2, 2024 | $0.27 |
| Mar 19, 2024 | Mar 26, 2024 | $0.36 |
| Dec 21, 2023 | Dec 29, 2023 | $0.38 |
FAS Risk
This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.
- 44.8%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.95
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −66.9%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 2.58
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FAS Cost
- The middle half of 3x Leveraged Long funds
- Median 0.98%
1 of the 30 3x Leveraged Long funds charge less.