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FAS vs TYD

Direxion Daily Financial Bull 3X ETF

FASANYSE Arca

Direxion Daily 7-10 Year Treasury Bull 3X ETF

TYDDNYSE Arca

Overlap

Expense ratio

FAS −0.19pt a year

FAS0.88%TYD1.07%

Avg volume · 30D

FAS 14.8×the volume

FAS417KTYD28.2K

10Y return · a year

FAS +25.7pt

FAS+20.7%TYD−5.0%

FAS vs TYD Performance

Nov 9, 2021 – Nov 9, 2026

+41.7%FAS−54.4%TYD

Nov 9, 2021 to Nov 9, 2026. FAS +41.7%. TYD −54.4%. Use the arrow keys to read each point.−25%0%25%Nov 2021May 2024Nov 2026
Expense ratio
FAS 0.88%, better
TYD 1.07%
Fund size
FAS $2.08B
TYD $31M
1Y total return
FAS +17.0%, better
TYD −13.7%
Yield (12M)
FAS 8.32%, better
TYD 3.76%
Holdings
FAS 87
TYD 8
Avg volume (30D)
FAS 417K sh, better
TYD 28.2K sh
NAV per share
FAS $168.58
TYD $21.79
52W range

ETF.net Grade

FAS: Cost 92, Risk 73, Mission not scored, Tradability 69, Holdings not scored, Durability 66. TYD: Cost 13, Risk 61, Mission not scored, Tradability 42, Holdings 100, Durability 41.
Pillar letters and Scores for FAS, TYD, with each pillar’s weight
PillarFASTYD
Cost30% weightA92HigherF13
Mission25% weightNot scoredNot scored
Risk15% weightA73HigherB61
Tradability15% weightB69HigherC42
Holdings10% weightNot scoredA100
Durability5% weightB66HigherC41

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 TYD 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 TYD 23rd of 30 funds in the 3x Leveraged Long Category.

  1. Rank 1ATQQQProShares UltraPro QQQScore 83
  2. Rank 2AFASDirexion Daily Financial Bull 3X ETFScore 80
  3. Rank 2AUDOWProShares UltraPro Dow30Score 80
  4. Rank 23DHIBLDirexion Daily S&P 500 High Beta Bull 3X ETFScore 33
  5. Rank 23DTYDDirexion Daily 7-10 Year Treasury Bull 3X ETFScore 33
  6. Rank 25DTPORDirexion Daily Transportation Bull 3X ETFScore 31

Our read on each fund

ETF.net Research

FASADirexion Daily Financial Bull 3X ETF

TYDDDirexion Daily 7-10 Year Treasury 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.

TYD Leveraged Treasury trading mostly crowds the long end. TYD aims for 300% of the daily move in the ICE U.S. Treasury 7-10 Year Bond Index instead: a 3x handle on the belly of the curve, running since 2009.

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.

TYD The fund seeks daily investment results equal to 300% of the performance of the ICE U.S. Treasury 7-10 Year Bond Index, before fees and expenses.

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.
  • TYD A rare 3x handle on the belly of the curve: 300% of the daily move in the ICE U.S. Treasury 7-10 Year Bond Index, while most leveraged bond action sits at the 20-year end.direxion.com
  • Trading since 2009, so the daily-reset machinery has run through QE, the taper tantrum and the 2022 rate shock in full public view.
  • Exposure comes from swaps and futures tied to an all-Treasury index, so no corporate credit sits underneath. Distributions go out quarterly.sec.gov
  • Direxion runs a mirror-image bear fund on the same index, so the same 7-10 year view can be expressed in either direction.direxion.com

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.
  • TYD Fee runs 1.07% net of a waiver through September 1, 2027 (1.08% gross), above the typical 3x fund and above sibling TMF, at 0.90% net of a waiver through September 1, 2027.
  • Leverage resets every day. Hold longer than a day and compounding takes over, so results can drift well away from 3x the index move over that stretch, especially in choppy markets.direxion.com
  • One of the smaller, more lightly traded corners of the leveraged shelf, which can mean wider spreads and more care needed when getting in or out.

Full FAS profile⁠

Full TYD profile⁠

FAS vs TYD 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 TYD Cost

Overpaying TYD vs FAS

$3,110

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

  • FAS 0.88%

    $16,705

  • TYD 1.07%

    $19,815

$10,000
30 years

Cost over time

  • FAS 0.88%
  • TYD 1.07%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530TYD $19,815FAS $16,705

Year by year

YearFASTYDOverpaying
10$1,559$1,881$322
20$5,891$7,046$1,155
30$16,705$19,815$3,110

Expense ratio

  • 0.88%FAS, cheaper
  • 1.07%TYD
  • Middle half of 3x Leveraged Long funds
  • Median 0.96%

FAS 4th cheapest of 30 funds

TYD 26th cheapest of 30 funds

FAS vs TYD Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
FAS 8.32%, better
TYD 3.76%
Payout (12M)
FAS $14.62
TYD $0.82
Last payment
FAS $1.00
TYD $0.25
Ex-dividend
FAS Sep 22, 2026
TYD Sep 22, 2026
Paid on
FAS Sep 29, 2026
TYD Sep 29, 2026
Frequency
FAS Quarterly
TYD 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
TYDQuarterly · 26 paymentsAll TYD payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Mar 20, 2018 $0.09; Jun 19, 2018 $0.10; Sep 25, 2018 $0.12; Dec 27, 2018 $0.17; Mar 19, 2019 $0.11; Jun 25, 2019 $0.16; Sep 24, 2019 $0.09; Dec 23, 2019 $0.10; Mar 24, 2020 $0.07; Dec 10, 2020 $5.74; Dec 20, 2022 $0.16; Mar 21, 2023 $0.08; Jun 21, 2023 $0.22; Sep 19, 2023 $0.17; Dec 21, 2023 $0.29; Mar 19, 2024 $0.03; Jun 25, 2024 $0.25; Sep 24, 2024 $0.21; Dec 23, 2024 $0.24; Mar 25, 2025 $0.12; Jun 24, 2025 $0.19; Sep 23, 2025 $0.20; Dec 23, 2025 $0.25; Mar 24, 2026 $0.13; Jun 23, 2026 $0.20; Sep 22, 2026 $0.25. Use the arrow keys to read each point.$0$102017202020232026YTD

FAS vs TYD Risk

Fall from peak · 5 years

  • FAS
  • TYD
Nov 9, 2021 to Nov 9, 2026. Worst fall: FAS −66.9% · Oct 2023. Use the arrow keys to read each point.−60%−40%−20%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
FAS 46.3%TYD 19.9%, better
Return per unit of riskSharpe ratio, 3 years
FAS 1.03, betterTYD −0.06
Worst fallMax drawdown, 5 years
FAS −66.9%TYD −59.1%, better
Market sensitivityBeta, 5 years
FAS 2.56TYD 3.48

Popular comparisons

  • FASAvsTQQQA

    Direxion Daily Financial Bull 3X ETF · ProShares UltraPro QQQ

    Expense ratio
    0.88% · 0.78%
    Category
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  • TYDDvsTQQQA

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  • FASAvsUDOWA

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  • FASAvsTMFA

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  • TYDDvsTMFA

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    Expense ratio
    1.07% · 0.90%
    Category
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