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EDC vs FAS

Direxion Daily MSCI Emerging Markets Bull 3X Shares

EDCDNYSE Arca

Direxion Daily Financial Bull 3X ETF

FASANYSE Arca

Overlap

Expense ratio

FAS −0.21pt a year

EDC1.09%FAS0.88%

Avg volume · 30D

FAS 5.0×the volume

EDC83.1KFAS413K

10Y return · a year

FAS +20.3pt

EDC+0.6%FAS+20.9%

EDC vs FAS Performance

Oct 29, 2021 – Oct 30, 2026

−20.9%EDC+31.4%FAS

Oct 29, 2021 to Oct 30, 2026. EDC −20.9%. FAS +31.4%. Use the arrow keys to read each point.−75%−50%0%50%Oct 2021Apr 2024Oct 2026
Expense ratio
EDC 1.09%
FAS 0.88%, better
Fund size
EDC $129M
FAS $2.17B
1Y total return
EDC +4.8%
FAS +12.3%, better
Yield (12M)
EDC 1.91%
FAS 8.87%, better
Holdings
EDC 10
FAS 87
Avg volume (30D)
EDC 83.1K sh
FAS 413K sh, better
NAV per share
EDC $62.19
FAS $168.18
52W range

ETF.net Grade

EDC: Cost 10, Risk 46, Mission not scored, Tradability 37, Holdings not scored, Durability 51. FAS: Cost 92, Risk 69, Mission not scored, Tradability 73, Holdings not scored, Durability 66.
Pillar letters and Scores for EDC, FAS, with each pillar’s weight
PillarEDCFAS
Cost30% weightF10A92Higher
Mission25% weightNot scoredNot scored
Risk15% weightC46B69Higher
Tradability15% weightD37A73Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC51B66Higher

Rank among 3x Leveraged Long funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. EDC and FAS are both graded against the same 30 3x Leveraged Long funds, so their Grades compare head to head.

3x Leveraged Long⁠

Category · 30 funds
See all 30 ›

FAS ranks 3rd and EDC 26th of 30 funds in the 3x Leveraged Long Category.

  1. Rank 1ATQQQProShares UltraPro QQQScore 86
  2. Rank 2AUDOWProShares UltraPro Dow30Score 81
  3. Rank 3AFASDirexion Daily Financial Bull 3X ETFScore 80
  4. Rank 4ASOXLDirexion Daily Semiconductor Bull 3X ETFScore 76
  5. Rank 24DTYDDirexion Daily 7-10 Year Treasury Bull 3X ETFScore 32
  6. Rank 26DEDCDirexion Daily MSCI Emerging Markets Bull 3X SharesScore 27
  7. Rank 26DWANTDirexion Daily Consumer Discretionary Bull 3X ETFScore 27

Our read on each fund

ETF.net Research

EDCDDirexion Daily MSCI Emerging Markets Bull 3X Shares

FASADirexion Daily Financial Bull 3X ETF

In short

EDC The 3x aisle is mostly a bet on US indexes. EDC points the same daily leverage at the MSCI Emerging Markets Index, and has been doing it since 2008, through every emerging-market boom and bust since.

FAS Born in November 2008 with the banking system on fire, FAS aims to deliver three times the daily move of the Financial Select Sector Index. A one-day tool on roughly 80 financial stocks, built around a single-day objective.

Stated mandate

EDC The fund seeks daily investment results, before fees and expenses, equal to 300% of the performance of the MSCI Emerging Markets Index.

FAS 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

  • EDC Rare mandate: 3x daily exposure to broad emerging markets in one ticker, while the category's headline names (TQQQ, UDOW, FAS) all aim at US indexes.
  • Trading since December 2008, with a mirror-image bear fund (EDZ) on the same index for traders who want the other side of the move.direxion.com
  • Mechanics are spelled out: at least 80% of net assets in swaps and other instruments tied to the index, reset daily, with distributions paid quarterly.direxion.com
  • FAS Launched in November 2008, into the crisis itself, and still one of the strongest implementations in its 3x peer group.
  • Costs 0.88% net of a waiver through September 1, 2027 (0.92% gross), below the median for 3x leveraged funds.
  • A multi-billion-dollar fund that trades steadily, so the leverage arrives in a reasonably liquid wrapper.
  • Straightforward plumbing: 3x the daily move of one named large-cap financials index, about 80 stocks, no stock-picking overlay.

Worth knowing

  • EDC The 3x target applies to a single day. Held longer, compounding takes over, and a choppy index can leave the fund far from 3x the period's move.direxion.com
  • 1.09% net of a waiver through September 1, 2027 (1.12% gross) sits above the category median; US-focused SOXL charges 0.75% net of a waiver to the same date.
  • Smaller and less heavily traded than the category's US-index giants, and its underlying markets are shut during much of the US session, so spreads and overnight gaps matter.
  • FAS The 3x goal resets every day. Hold longer and compounding can push results away from three times the index's move over that stretch, especially in choppy markets.
  • Leverage runs both directions: down days are magnified just as sharply, and this is one sector in one direction with no diversification cushion.
  • Not the cheapest 3x on the shelf: SOXL runs 0.75% and TQQQ 0.78%, each net of waivers through September 1, 2027 and September 30, 2027.

Full EDC profile⁠

Full FAS profile⁠

EDC vs FAS Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

EDC vs FAS Cost

Overpaying EDC vs FAS

$3,428

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • EDC 1.09%

    $20,133

  • FAS 0.88%

    $16,705

$10,000
30 years

Cost over time

  • EDC 1.09%
  • FAS 0.88%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530EDC $20,133FAS $16,705

Year by year

YearEDCFASOverpaying
10$1,915$1,559$356
20$7,166$5,891$1,275
30$20,133$16,705$3,428

Expense ratio

  • 1.09%EDC
  • 0.88%FAS, cheaper
  • Middle half of 3x Leveraged Long funds
  • Median 0.96%

FAS 4th cheapest of 30 funds

EDC 27th cheapest of 30 funds

EDC vs FAS Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
EDC 1.91%
FAS 8.87%, better
Payout (12M)
EDC $1.10
FAS $14.62
Last payment
EDC $0.22
FAS $1.00
Ex-dividend
EDC Sep 22, 2026
FAS Sep 22, 2026
Paid on
EDC Sep 29, 2026
FAS Sep 29, 2026
Frequency
EDC Quarterly
FAS Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

EDCQuarterly · 26 paymentsAll EDC payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Dec 19, 2017 $0.32; Mar 20, 2018 $0.47; Dec 27, 2018 $0.02; Mar 19, 2019 $0.52; Jun 25, 2019 $0.29; Sep 24, 2019 $0.04; Dec 23, 2019 $0.01; Mar 24, 2020 $0.39; Jun 23, 2020 $0.02; Mar 23, 2021 $0.08; Jun 22, 2021 $0.05; Mar 21, 2023 $0.34; Jun 21, 2023 $0.30; Sep 19, 2023 $0.30; Dec 21, 2023 $0.14; Mar 19, 2024 $0.47; Jun 25, 2024 $0.29; Sep 24, 2024 $0.25; Dec 23, 2024 $0.13; Mar 25, 2025 $0.44; Jun 24, 2025 $0.25; Sep 23, 2025 $0.20; Dec 23, 2025 $0.10; Mar 24, 2026 $0.38; Jun 23, 2026 $0.40; Sep 22, 2026 $0.22. Use the arrow keys to read each point.$0$102017202020232026YTD
FASQuarterly · 36 paymentsAll FAS payments⁠
One bar per payment. 36 payments from 2017 to 2026 YTD. Dec 19, 2017 $0.08; Mar 20, 2018 $0.13; Jun 19, 2018 $0.16; Sep 25, 2018 $0.19; Dec 27, 2018 $0.16; Mar 19, 2019 $0.16; Jun 25, 2019 $0.17; Sep 24, 2019 $0.15; Dec 23, 2019 $0.11; Mar 24, 2020 $0.12; Jun 23, 2020 $0.04; Sep 22, 2020 $0.05; Dec 22, 2020 $0.08; Mar 23, 2021 $0.13; Jun 22, 2021 $0.14; Sep 21, 2021 $0.15; Dec 21, 2021 $0.36; Jun 22, 2022 $0.12; Sep 20, 2022 $0.22; Dec 20, 2022 $0.33; Mar 21, 2023 $0.17; Jun 21, 2023 $0.62; Sep 19, 2023 $0.29; Dec 21, 2023 $0.38; Mar 19, 2024 $0.36; Jun 25, 2024 $0.27; Sep 24, 2024 $0.32; Dec 23, 2024 $0.19; Mar 25, 2025 $0.46; Jun 24, 2025 $0.50; Sep 23, 2025 $0.39; Dec 10, 2025 $12.09; Dec 23, 2025 $0.39; Mar 24, 2026 $0.60; Jun 23, 2026 $0.53; Sep 22, 2026 $1.00. Use the arrow keys to read each point.$0$102017202020232026YTD

EDC vs FAS Risk

Fall from peak · 5 years

  • EDC
  • FAS
Oct 29, 2021 to Oct 30, 2026. Worst fall: EDC −75.5% · Oct 2022. Use the arrow keys to read each point.−80%−60%−40%−20%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
EDC 49.5%FAS 46.3%, better
Return per unit of riskSharpe ratio, 3 years
EDC 0.84FAS 1.03, better
Worst fallMax drawdown, 5 years
EDC −75.5%FAS −66.9%, better
Market sensitivityBeta, 5 years
EDC 2.56FAS 2.63

Popular comparisons

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    Direxion Daily MSCI Emerging Markets Bull 3X Shares · ProShares UltraPro QQQ

    Expense ratio
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