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FAS vs SOXL

Direxion Daily Financial Bull 3X ETF

FASANYSE Arca

Direxion Daily Semiconductor Bull 3X ETF

SOXLANYSE Arca

Overlap

5.4%by weight

Expense ratio

SOXL −0.13pt a year

FAS0.88%SOXL0.75%

Avg volume · 30D

SOXL 171.2×the volume

FAS413KSOXL70.7M

10Y return · a year

SOXL +18.5pt

FAS+20.9%SOXL+39.4%

FAS vs SOXL Performance

Oct 29, 2021 – Oct 30, 2026

+31.4%FAS+66.7%SOXL

Oct 29, 2021 to Oct 30, 2026. FAS +31.4%. SOXL +66.7%. Use the arrow keys to read each point.−100%200%300%400%500%Oct 2021Apr 2024Oct 2026
Expense ratio
FAS 0.88%
SOXL 0.75%, better
Fund size
FAS $2.17B
SOXL $24.3B
1Y total return
FAS +12.3%
SOXL +61.4%, better
Yield (12M)
FAS 8.87%, better
SOXL 0.12%
Holdings
FAS 87
SOXL 43
Avg volume (30D)
FAS 413K sh
SOXL 70.7M sh, better
NAV per share
FAS $168.18
SOXL $102.45
52W range

ETF.net Grade

FAS: Cost 92, Risk 69, Mission not scored, Tradability 73, Holdings not scored, Durability 66. SOXL: Cost 100, Risk 32, Mission not scored, Tradability 79, Holdings not scored, Durability 69.
Pillar letters and Scores for FAS, SOXL, with each pillar’s weight
PillarFASSOXL
Cost30% weightA92A100Higher
Mission25% weightNot scoredNot scored
Risk15% weightB69HigherD32
Tradability15% weightA73A79Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB66B69Higher

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. FAS and SOXL 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 SOXL 4th 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 5ATMFDirexion Daily 20+ Year Treasury Bull 3X ETFScore 74

Our read on each fund

ETF.net Research

FASADirexion Daily Financial Bull 3X ETF

SOXLADirexion Daily Semiconductor Bull 3X ETF

In short

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.

SOXL A 3x bet on chip stocks that resets every single day. Direxion launched it in 2010, long before AI made semiconductors the market's main event, and it is now one of the most heavily traded leveraged funds out there.

Stated mandate

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.

SOXL It is designed to deliver a daily result three times the performance of the NYSE Semiconductor Index, before fees and expenses, with the objective applying for a single day.

Why people hold it

  • 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.
  • SOXL Cheap for the aisle it sits in: 0.75% net of a waiver through September 1, 2027 (0.91% gross), below the category median and under TQQQ's 0.78% net of a waiver through September 30, 2027.
  • The mandate is mechanical: 300% of the NYSE Semiconductor Index's daily move, before fees and expenses, across roughly 40 chip names. No stock picking, no manager discretion.direxion.com
  • A multi-billion-dollar fund that trades very actively, which matters for an instrument designed to be entered and exited inside a single session.
  • Trading since 2010, through several full chip cycles. That is a long run for a 3x product, and one of the stronger setups in its leveraged peer group.

Worth knowing

  • 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.
  • SOXL The 3x target applies to one day only. Daily reset plus compounding means multi-day results can diverge sharply from 3x the index, and choppy markets erode value.direxion.com
  • Semiconductors already swing hard. Tripling the daily move magnifies down days exactly as much as up days, so losses can pile up fast.
  • Roughly 40 stocks in a single US industry. No diversification cushion here, and the index itself has been renamed once (to the NYSE Semiconductor Index in 2023).sec.gov

Full FAS profile⁠

Full SOXL profile⁠

FAS vs SOXL Holdings

How FAS and SOXL differ

Overlap by weight

5.4%

Shared holdings make up 9.1% of FAS and 8.4% of SOXL.

Level by level

  • Sector3 Sectors1.6%
  • Holdings1 in both5.4%
  • Countryby domicile89.3%
  • Asset classEquity100%

Sector

Sector weights in FAS and SOXL, widest gap first
SectorMore in FASMore in SOXL
TechnologySOXL +98.4 points
FinancialsFAS +98.2 points
IndustrialsFAS +0.2 points

Country, concentration and asset class

Country by domicile

Country weights in FAS and SOXL, widest gap first
CountryMore in FASMore in SOXL
United StatesFAS +9.1 points
TaiwanSOXL +4.7 points
South KoreaSOXL +3.0 points
SwitzerlandFAS +1.6 points
NetherlandsSOXL +1.5 points
IsraelSOXL +1.1 points
SingaporeSOXL +0.4 points

Concentration

Weight in the 10 largest Holdings

  • FAS79.0%
  • SOXL74.3%

Securities held

  • FAS77
  • SOXL32

Asset class

FAS
Equity
SOXL
Equity

Holdings

  • Only in FAS76
  • In both1
  • Only in SOXL31

Only in FAS

76 securities, 20.3% of FAS by weight

  • Berkshire Hathaway Inc-Cl B2.56%
  • JPMorgan Chase & Co2.31%
  • Visa Inc-Class A Shares1.77%

Only in SOXL

31 securities, 23.4% of SOXL by weight

  • Jp Morgan 100 Us Trsy Capital 31632.46%
  • Advanced Micro Devices1.99%
  • Intel Corp1.70%

Weight gaps

All 1 Holdings in both funds, largest gap first.

Holding weights in FAS and SOXL, widest gap first
HoldingMore in FASMore in SOXL
Goldman Finl Sq Trsry Inst 506FAS +1.35 points

All 84 FAS holdings⁠All 44 SOXL 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.

FAS vs SOXL Cost

Overpaying FAS vs SOXL

$2,223

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

  • FAS 0.88%

    $16,705

  • SOXL 0.75%

    $14,482

$10,000
30 years

Cost over time

  • FAS 0.88%
  • SOXL 0.75%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530FAS $16,705SOXL $14,482

Year by year

YearFASSOXLOverpaying
10$1,559$1,336$223
20$5,891$5,078$813
30$16,705$14,482$2,223

Expense ratio

  • 0.88%FAS
  • 0.75%SOXL, cheaper
  • Middle half of 3x Leveraged Long funds
  • Median 0.96%

SOXL cheapest of 30 funds

FAS 4th cheapest of 30 funds

FAS vs SOXL Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
FAS 8.87%, better
SOXL 0.12%
Payout (12M)
FAS $14.62
SOXL $0.09
Last payment
FAS $1.00
SOXL $0.09
Ex-dividend
FAS Sep 22, 2026
SOXL Sep 22, 2026
Paid on
FAS Sep 29, 2026
SOXL Sep 29, 2026
Frequency
FAS Quarterly
SOXL Annual

Distribution history

Per share, 2017 to 2026, same scale for both

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
SOXLAnnual · 29 paymentsAll SOXL payments⁠
One bar per payment. 29 payments from 2017 to 2026 YTD. Dec 19, 2017 $0.0081; Jun 19, 2018 $0.02; Sep 25, 2018 $0.03; Dec 27, 2018 $0.02; Mar 19, 2019 $0.02; Jun 25, 2019 $0.01; Sep 24, 2019 $0.02; Dec 23, 2019 $0.02; Mar 24, 2020 $0.0053; Jun 23, 2020 $0.0063; Dec 22, 2020 $0.0034; Mar 23, 2021 $0.02; Dec 21, 2021 $0.01; Mar 22, 2022 $0.0072; Jun 22, 2022 $0.02; Sep 20, 2022 $0.04; Dec 20, 2022 $0.04; Mar 21, 2023 $0.03; Jun 21, 2023 $0.04; Sep 19, 2023 $0.03; Dec 21, 2023 $0.06; Mar 19, 2024 $0.04; Jun 25, 2024 $0.15; Sep 24, 2024 $0.06; Dec 23, 2024 $0.08; Mar 25, 2025 $0.06; Jun 24, 2025 $0.07; Sep 23, 2025 $0.01; Sep 22, 2026 $0.09. Use the arrow keys to read each point.$0$102017202020232026YTD

FAS vs SOXL Risk

Fall from peak · 5 years

  • FAS
  • SOXL
Oct 29, 2021 to Oct 30, 2026. Worst fall: SOXL −90.5% · Oct 2022. Use the arrow keys to read each point.−100%−75%−50%−25%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
FAS 46.3%, betterSOXL 137.2%
Return per unit of riskSharpe ratio, 3 years
FAS 1.03, betterSOXL 0.90
Worst fallMax drawdown, 5 years
FAS −66.9%, betterSOXL −90.5%
Market sensitivityBeta, 5 years
FAS 2.63SOXL 7.64

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