FAZ vs SPXU
Direxion Daily Financial Bear 3X ETF vs ProShares UltraPro Short S&P500
Which is better, FAZ or SPXU?
Each has led over a different period.
SPXU has a lower expense ratio. FAZ led over 1Y, 3Y and 5Y, SPXU over the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FAZ | SPXU |
|---|---|---|
| Expense Ratio | 1.04% | 0.90%Best |
| AUM | $93M | $408M |
| Dividend Yield | 2.53% | 6.25% |
| Holdings | 16 | 19 |
| YTD Return | -0.09%Best | -29.33% |
| 1Y Return | -8.61%Best | -35.12% |
| 3Y Return (annualized) | -40.22%Best | -43.50% |
| 5Y Return (annualized) | -26.94%Best | -33.15% |
| Volatility (annualized) | 47.4% | 39.5%Best |
| $10,000 over 5 years | $2,082Best | $1,335 |
| Fund Family | Direxion Shares ETF Trust | ProShares |
| Category | Alternative | Alternative |
| Style | Trading-Inverse Equity | Trading-Inverse Equity |
| Inception | Nov 6, 2008 | Jun 23, 2009 |
Not shown on this pair: Max Drawdown, Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jun 25, 2009 to Oct 14, 2026 (17.3 years).
FAZ vs SPXU growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 17.3 years both funds cover.
FAZ vs SPXU Performance
Direxion Daily Financial Bear 3X ETF (FAZ) is an ETF from Direxion Shares ETF Trust and ProShares UltraPro Short S&P500 (SPXU) is an ETF from ProShares. Over the past year FAZ returned -8.61% while SPXU returned -35.12%. Year to date, FAZ is down 0.09% versus a loss of 29.33% for SPXU.
Over three years, FAZ compounded at -40.22% per year against -43.50% for SPXU; over five years the annualized figures are -26.94% and -33.15% respectively. Across the full 17-year window we track, SPXU has the edge at -42.36% annualized vs -45.40%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FAZ has been the more volatile fund, with annualized monthly volatility of 47.4% compared with 39.5% for SPXU. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The two funds' monthly returns correlate at 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FAZ charges 1.04% per year while SPXU charges 0.90%. On a $10,000 position that is $104 vs $90 annually, a gap of $14 per year that compounds over a long holding period. On income, FAZ currently yields 2.53% against 6.25% for SPXU.
Holdings Overlap
We hold position weights for 3 holdings in FAZ and 1 in SPXU, totalling 102.9% and 90.7% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 3 positions we hold weights for in FAZ and 1 in SPXU, against full books of 16 and 19.
You are not choosing between two funds in isolation.
Whichever of FAZ and SPXU you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FAZ or SPXU?
FAZ has an expense ratio of 1.04% while SPXU charges 0.90%. SPXU is the cheaper option, by $14 a year on a $10,000 investment.
Which performed better, FAZ or SPXU?
Over the past year FAZ returned -8.61% vs -35.12% for SPXU, so FAZ leads on 1-year performance. Over the longest common window we track (17 years), FAZ annualized -45.40% vs -42.36% for SPXU. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FAZ or SPXU?
FAZ has been the more volatile fund at 47.4% annualized versus 39.5% for SPXU.
Should I hold both FAZ and SPXU?
FAZ and SPXU have a monthly-return correlation of 0.85, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, FAZ or SPXU?
FAZ yields 2.53% while SPXU yields 6.25%, so SPXU currently pays the higher dividend yield.
Is SPXU better than FAZ?
SPXU has a lower expense ratio. FAZ led over 1Y, 3Y and 5Y, SPXU over the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.