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FAS vs URTY

Direxion Daily Financial Bull 3X ETF

FASANYSE Arca

ProShares UltraPro Russell2000

URTYBNYSE Arca

Overlap

0.0%by weight

Expense ratio

FAS −0.07pt a year

FAS0.88%URTY0.95%

Avg volume · 30D

FAS 1.02×the volume

FAS408KURTY398K

10Y return · a year

FAS +16.3pt

FAS+23.2%URTY+6.9%

FAS vs URTY Performance

Nov 4, 2021 – Nov 4, 2026

+51.0%FAS−42.4%URTY

Nov 4, 2021 to Nov 4, 2026. FAS +51.0%. URTY −42.4%. Use the arrow keys to read each point.−75%−25%0%25%Nov 2021May 2024Nov 2026
Expense ratio
FAS 0.88%, better
URTY 0.95%
Fund size
FAS $2.06B
URTY $292M
1Y total return
FAS +27.3%
URTY +38.3%, better
Yield (12M)
FAS 7.80%, better
URTY 0.90%
Holdings
FAS 88
URTY 1966
Avg volume (30D)
FAS 408K sh, better
URTY 398K sh
NAV per share
FAS $164.44
URTY $70.28
52W range

ETF.net Grade

FAS: Cost 92, Risk 69, Mission not scored, Tradability 75, Holdings not scored, Durability 66. URTY: Cost 62, Risk 57, Mission 83, Tradability 73, Holdings 55, Durability 64.
Pillar letters and Scores for FAS, URTY, with each pillar’s weight
PillarFASURTY
Cost30% weightA92HigherB62
Mission25% weightNot scoredA83
Risk15% weightB69HigherB57
Tradability15% weightA75HigherA73
Holdings10% weightNot scoredB55
Durability5% weightB66HigherB64

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 URTY 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 URTY 9th 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 7BDPSTDirexion Daily Regional Banks Bull 3X ETFScore 69
  5. Rank 9BURTYProShares UltraPro Russell2000Score 63
  6. Rank 10BUMDDProShares UltraPro MidCap 400Score 56

Our read on each fund

ETF.net Research

FASADirexion Daily Financial Bull 3X ETF

URTYBProShares UltraPro Russell2000

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.

URTY The quieter way to put 3x daily torque on the Russell 2000. ProShares has run URTY since 2010 at 0.95% net of a waiver through September 30, 2027, under the fee on the better-known 3x small-cap rival.

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.

URTY URTY seeks daily investment results, before fees and expenses, corresponding to three times the daily performance of the Russell 2000 Index. Because the objective is daily, returns over periods longer than one day may differ materially from the target.

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.
  • URTY The mandate is literal: three times the Russell 2000's daily move, before fees, reset every evening. No forecast, no discretion, one trading day at a time.proshares.com
  • 0.95% net of a waiver through September 30, 2027 (1.13% gross), near the norm for 3x bull funds and under TNA, whose 1.05% is itself waived through September 1, 2027.
  • Running since 2010, it has stayed close to its stated daily multiple and stands in the upper half of the 3x long funds we grade.
  • The reference exposure is roughly 2,000 US small caps, not a handful of names, and the fund distributes quarterly.

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.
  • URTY The reset is daily. Hold longer, especially through choppy tape, and results over that stretch can differ materially from 3x the index.
  • Small-cap swings land tripled in both directions, and a deep drawdown takes an outsized move to climb back from.
  • Trading is moderate for the category rather than heavyweight, so bid-ask spreads are worth a look.

Full FAS profile⁠

Full URTY profile⁠

FAS vs URTY Holdings

How FAS and URTY differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of FAS and 0.0% of URTY.

Level by level

  • Holdings0 in both0.0%
  • Sector11 Sectors19.8%
  • Countryby domicile98.7%
  • Asset classEquity100%

Sector

Sector weights in FAS and URTY, widest gap first
SectorMore in FASMore in URTYGap
FinancialsFAS +80.2 points
Health CareURTY +20.9 points
IndustrialsURTY +13.1 points
TechnologyURTY +12.9 points
Consumer DiscretionaryURTY +8.6 points
Real EstateURTY +6.4 points
EnergyURTY +6.4 points
MaterialsURTY +4.3 points
UtilitiesURTY +2.7 points
Consumer StaplesURTY +2.6 points
CommunicationURTY +2.3 points

Country, concentration and asset class

Country by domicile

Country weights in FAS and URTY, widest gap first
CountryMore in FASMore in URTYGap
SwitzerlandFAS +1.3 points
BrazilURTY +0.6 points
Other countries (11)URTY +0.7 points

Concentration

Weight in the 10 largest Holdings

  • FAS79.2%
  • URTY56.3%

Securities held

  • FAS78
  • URTY1,965

Asset class

FAS
Equity
URTY
Equity

Holdings

  • Only in FAS78
  • In both0
  • Only in URTY1,965

Only in FAS

78 securities, 23.6% of FAS by weight

  • Goldman Finl Sq Trsry Inst 5063.56%
  • Berkshire Hathaway Inc-Cl B2.58%
  • JPMorgan Chase & Co2.23%

Only in URTY

1,965 securities, 72.7% of URTY by weight

  • Proshares Genius Mny Mkt Etf19.50%
  • TREASURY BILL, 0%, due 2026-12-298.42%
  • Glaukos Corp0.21%

Weight gaps

FAS and URTY share no securities.

All 84 FAS holdings⁠All 1,970 URTY 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 URTY Cost

Overpaying URTY vs FAS

$1,164

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

  • FAS 0.88%

    $16,705

  • URTY 0.95%

    $17,869

$10,000
30 years

Cost over time

  • FAS 0.88%
  • URTY 0.95%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530URTY $17,869FAS $16,705

Year by year

YearFASURTYOverpaying
10$1,559$1,678$119
20$5,891$6,322$431
30$16,705$17,869$1,164

Expense ratio

  • 0.88%FAS, cheaper
  • 0.95%URTY
  • Middle half of 3x Leveraged Long funds
  • Median 0.96%

FAS 4th cheapest of 30 funds

URTY 9th cheapest of 30 funds

FAS vs URTY Dividends

Last 12 months to Nov 4, 2026
Yield (12M)
FAS 7.80%, better
URTY 0.90%
Payout (12M)
FAS $14.62
URTY $0.63
Last payment
FAS $1.00
URTY $0.18
Ex-dividend
FAS Sep 22, 2026
URTY Sep 23, 2026
Paid on
FAS Sep 29, 2026
URTY Sep 29, 2026
Frequency
FAS Quarterly
URTY 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
URTYQuarterly · 19 paymentsAll URTY payments⁠
One bar per payment. 19 payments from 2017 to 2026 YTD. Dec 26, 2018 $0.14; Mar 20, 2019 $0.04; Dec 24, 2019 $0.12; Dec 23, 2020 $0.0027; Dec 22, 2022 $0.11; Mar 22, 2023 $0.05; Jun 21, 2023 $0.08; Sep 20, 2023 $0.04; Dec 20, 2023 $0.08; Jun 26, 2024 $0.14; Sep 25, 2024 $0.19; Dec 23, 2024 $0.25; Mar 26, 2025 $0.13; Jun 25, 2025 $0.04; Sep 24, 2025 $0.18; Dec 24, 2025 $0.19; Mar 25, 2026 $0.09; Jun 24, 2026 $0.17; Sep 23, 2026 $0.18. Use the arrow keys to read each point.$0$102017202020232026YTD

FAS vs URTY Risk

Fall from peak · 5 years

  • FAS
  • URTY
Nov 4, 2021 to Nov 4, 2026. Worst fall: URTY −82.7% · Apr 2025. 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%, betterURTY 58.4%
Return per unit of riskSharpe ratio, 3 years
FAS 1.03, betterURTY 0.74
Worst fallMax drawdown, 5 years
FAS −66.9%, betterURTY −82.7%
Market sensitivityBeta, 5 years
FAS 2.63URTY 3.83

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