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FAS vs TECL

Direxion Daily Financial Bull 3X ETF

FASANYSE Arca

Direxion Daily Technology Bull 3X ETF

TECLANYSE Arca

Overlap

Expense ratio

TECL −0.01pt a year

FAS0.88%TECL0.87%

Avg volume · 30D

TECL 1.6×the volume

FAS408KTECL648K

10Y return · a year

TECL +21.9pt

FAS+23.2%TECL+45.1%

FAS vs TECL Performance

Nov 4, 2021 – Nov 4, 2026

+51.0%FAS+129.2%TECL

Nov 4, 2021 to Nov 4, 2026. FAS +51.0%. TECL +129.2%. Use the arrow keys to read each point.0%200%300%Nov 2021May 2024Nov 2026
Expense ratio
FAS 0.88%
TECL 0.87%, better
Fund size
FAS $2.06B
TECL $5.01B
1Y total return
FAS +27.3%, better
TECL +26.7%
Yield (12M)
FAS 7.80%, better
TECL 5.23%
Holdings
FAS 88
TECL 88
Avg volume (30D)
FAS 408K sh
TECL 648K sh, better
NAV per share
FAS $164.44
TECL $173.18
52W range

ETF.net Grade

FAS: Cost 92, Risk 69, Mission not scored, Tradability 75, Holdings not scored, Durability 66. TECL: Cost 92, Risk 41, Mission not scored, Tradability 68, Holdings not scored, Durability 68.
Pillar letters and Scores for FAS, TECL, with each pillar’s weight
PillarFASTECL
Cost30% weightA92A92
Mission25% weightNot scoredNot scored
Risk15% weightB69HigherC41
Tradability15% weightA75HigherB68
Holdings10% weightNot scoredNot scored
Durability5% weightB66B68Higher

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 TECL 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 2nd and TECL 6th of 30 funds in the 3x Leveraged Long Category.

  1. Rank 1ATQQQProShares UltraPro QQQScore 86
  2. Rank 2AFASDirexion Daily Financial Bull 3X ETFScore 80
  3. Rank 2AUDOWProShares UltraPro Dow30Score 80
  4. Rank 5ATMFDirexion Daily 20+ Year Treasury Bull 3X ETFScore 74
  5. Rank 6ATECLDirexion Daily Technology Bull 3X ETFScore 72
  6. Rank 7ACUREDirexion Daily Healthcare Bull 3X ETFScore 69

Our read on each fund

ETF.net Research

FASADirexion Daily Financial Bull 3X ETF

TECLADirexion Daily Technology 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.

TECL TECL takes the S&P 500's technology sector and triples its daily move: roughly 80 large-cap names, software to semiconductors, not a chips-only slice. The leverage resets every day, so it is built for short holding periods.

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.

TECL The fund seeks daily investment results equal to 300% of the performance of the Technology Select Sector Index.

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.
  • TECL One lever on the whole S&P 500 tech sleeve: every GICS technology name in the 500, with caps on the biggest weights, so software, hardware and chips in one ticket.spglobal.com
  • Costs 0.87% net of a waiver through September 1, 2027 (0.94% gross), below the 3x category median. Fee drag matters on exposure meant to be held in short bursts.
  • Listed since 2008 and among the more actively traded 3x funds, with a mirror-image bear fund (TECS) on the identical index if you want the other side of the trade.direxion.com
  • A multi-billion-dollar fund that stands among the stronger builds in a crowded 3x field on cost and staying power.

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.
  • TECL Direxion is blunt: over periods longer than a day, results can diverge from 300% of the index's cumulative move, and volatility widens the gap. Needs daily attention.direxion.comdirexion.com 2
  • Triple exposure cuts both ways, so a rough day for tech lands three times as hard. The index caps its largest weights, but the sector still leans on a handful of megacaps.spglobal.com
  • Cheaper 3x options sit in the same category: SOXL at 0.75% and TQQQ at 0.78%, each net of fee waivers running through September 1, 2027 and September 30, 2027.

Full FAS profile⁠

Full TECL profile⁠

FAS vs TECL 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 TECL Cost

Overpaying FAS vs TECL

$169

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

  • FAS 0.88%

    $16,705

  • TECL 0.87%

    $16,536

$10,000
30 years

Cost over time

  • FAS 0.88%
  • TECL 0.87%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530FAS $16,705TECL $16,536

Year by year

YearFASTECLOverpaying
10$1,559$1,542$17
20$5,891$5,830$61
30$16,705$16,536$169

Expense ratio

  • 0.88%FAS
  • 0.87%TECL, cheaper
  • Middle half of 3x Leveraged Long funds
  • Median 0.96%

TECL 3rd cheapest of 30 funds

FAS 4th cheapest of 30 funds

FAS vs TECL Dividends

Last 12 months to Nov 4, 2026
Yield (12M)
FAS 7.80%, better
TECL 5.23%
Payout (12M)
FAS $14.62
TECL $8.56
Last payment
FAS $1.00
TECL $0.21
Ex-dividend
FAS Sep 22, 2026
TECL Sep 22, 2026
Paid on
FAS Sep 29, 2026
TECL Sep 29, 2026
Frequency
FAS Quarterly
TECL Quarterly

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
TECLQuarterly · 23 paymentsAll TECL payments⁠
One bar per payment. 23 payments from 2017 to 2026 YTD. Dec 19, 2017 $0.01; Jun 19, 2018 $0.03; Sep 25, 2018 $0.01; Mar 19, 2019 $0.04; Sep 24, 2019 $0.0071; Dec 23, 2019 $0.01; Mar 24, 2020 $0.02; Dec 10, 2020 $0.19; Dec 9, 2021 $0.28; Dec 20, 2022 $0.05; Mar 21, 2023 $0.08; Jun 21, 2023 $0.04; Dec 21, 2023 $0.07; Mar 19, 2024 $0.11; Jun 25, 2024 $0.10; Dec 12, 2024 $0.04; Dec 23, 2024 $0.02; Mar 25, 2025 $0.21; Jun 24, 2025 $0.20; Dec 10, 2025 $8.04; Mar 24, 2026 $0.10; Jun 23, 2026 $0.21; Sep 22, 2026 $0.21. Use the arrow keys to read each point.$0$102017202020232026YTD

FAS vs TECL Risk

Fall from peak · 5 years

  • FAS
  • TECL
Nov 4, 2021 to Nov 4, 2026. Worst fall: TECL −78.0% · Oct 2022. Use the arrow keys to read each point.−80%−60%−40%−20%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
FAS 46.3%, betterTECL 77.9%
Return per unit of riskSharpe ratio, 3 years
FAS 1.03, betterTECL 0.91
Worst fallMax drawdown, 5 years
FAS −66.9%, betterTECL −78.0%
Market sensitivityBeta, 5 years
FAS 2.63TECL 4.86

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