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Leveraged & Inverse ETFs

Direxion Daily Financial Bull & Bear 3X Shares

The Direxion Daily Financial Bull and Bear 3X Shares seek daily investment results, before fees and expenses, of 300%, or 300% of the inverse (or opposite), of the performance of the Financial Select Sector Index. There is no guarantee the funds will achieve their stated investment objective.

FAS

NAV (Net Asset Value)$103.54As of Mar 18, 2024
1 Day NAV change$+1.53(+1.50%)As of Mar 18, 2024

FAZ

NAV (Net Asset Value)$10.89As of Mar 18, 2024
1 Day NAV change$-0.16(-1.44%)As of Mar 18, 2024
FASDirexion Daily Financial Bull 3X Shares
Daily Target
+300%
Intra-day Value
FAS.IV
Daily NAV
$103.54
Daily Market Price
$103.47
Expense Ratio
(gross/net %)
0.96 / 0.96*
Daily Volume
704,665
Security Identifier
25459Y694
Inception Date
Nov 06, 2008
FAZDirexion Daily Financial Bear 3X Shares
Daily Target
-300%
Intra-day Value
FAZ.IV
Daily NAV
$10.89
Daily Market Price
$10.88
Expense Ratio
(gross/net %)
1.09 / 1.09*
Daily Volume
1,659,878
Security Identifier
25460E240
Inception Date
Nov 06, 2008

Operational Updates

  • 01/23/2024
    Direxion's New ETF Alert Service. Get Price and Volume Alerts automatically via text message!
    Set Up Your ETF Alerts Today

Documents & Downloads

  • FAS FAZ Fact Sheet (pdf)
  • Direxion ETFs List (pdf)
  • FAS Prospectus
  • FAZ Prospectus
  • Daily Fund Holdings (csv)

These leveraged ETFs seek a return that are 300% or -300% of the return of their benchmark index for a single day. The funds should not be expected to provide three times or negative three times the return of the benchmark’s cumulative return for periods greater than a day.

Pricing & Performance

NAV and Market Price information as of 03/18/2024.

FAS Direxion Daily Financial Bull 3X Shares
Net Asset Value (NAV)
$103.54Nav
$+1.53Change
+1.50%Change
Market Price Closing
$103.47Market
$+1.30Change
+1.27%Change
Premium / Discount
$-0.07Change from Last Day Trading
Premium/Discount tool
FAZ Direxion Daily Financial Bear 3X Shares
Net Asset Value (NAV)
$10.89Nav
$-0.16Change
-1.44%Change
Market Price Closing
$10.88Market
$-0.16Change
-1.45%Change
Premium / Discount
$-0.01Change from Last Day Trading
Premium/Discount tool
Loading chart...
1M3MYTD1Y3Y5Y10YSince
Inception
Expense Ratio*
(Gross / Net%)
Inception
Date
FAS NAV
11.54
38.99
20.48
24.59
9.98
10.81
16.98
6.39
0.96 / 0.96*
11/06/2008
FAS Market Close
11.28
38.58
19.83
24.32
9.82
10.74
16.97
6.37
0.96 / 0.96*
11/06/2008
FAZ NAV
-10.58
-28.53
-17.31
-31.39
-34.70
-49.95
-43.12
-54.57
1.09 / 1.09*
11/06/2008
FAZ Market Close
-10.27
-28.41
-16.90
-31.30
-34.61
-49.93
-43.11
-54.56
1.09 / 1.09*
11/06/2008

As of February 29, 2024

The Primary Listing Exchange is the NYSE Arca, Inc.

*The Net Expense Ratio includes management fees, other operating expenses and Acquired Fund Fees and Expenses. If Acquired Fund Fees and Expenses were excluded, the Net Expense Ratio would be 0.91% for FAS and 0.95% for FAZ. The Funds’ adviser, Rafferty Asset Management, LLC (“Rafferty”), has entered into an Operating Expense Limitation Agreement with each Fund. Under the Operating Expense Limitation Agreement, Rafferty has contractually agreed to waive all or a portion of its management fee and/or reimburse the Funds for Other Expenses through September 1, 2024, to the extent that a Fund’s Total Annual Fund Operating Expenses exceed 0.95% of the Fund’s average daily net assets (excluding, as applicable, among other expenses, taxes, swap financing and related costs, acquired fund fees and expenses, dividends or interest on short positions, other interest expenses, brokerage commissions and extraordinary expenses). If these expenses were included, the expense ratio would be higher.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate. An investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Returns for performance under one year are cumulative, not annualized. For the most recent month-end performance please visit the funds’ website at direxion.com.

Short-term performance, in particular, is not a good indication of a fund’s future performance, and an investment should not be made based solely on returns. Because of ongoing market volatility, fund performance may be subject to substantial short-term changes. For additional information, see the fund’s prospectus.

Index Information

The Financial Select Sector Index (IXMTR) is provided by S&P Dow Jones Indices and includes securities of companies from the following industries: Banks; Thrifts & Mortgage Finance; Diversified Financial Services; Consumer Finance; Capital Markets; Insurance; and Mortgage Real Estate Investment Trusts (REITs). One cannot invest directly in an index.

Index Top Ten Holdings

% of Total
Berkshire Hathaway Class B
12.49%
JP Morgan Chase
9.47%
Visa
7.99%
Mastercard
6.80%
Bank Of America
4.46%
Wells Fargo
3.44%
S&P Global Inc
2.75%
The Goldman Sachs Group
2.42%
Morgan Stanley
2.27%
Blackrock
2.19%

Index Sector Weightings

% of Total
Financial Services
32.03%
Banks
25.11%
Capital Markets
23.10%
Insurance
15.87%
Consumer Finance
3.88%
Index data as of 12/31/2023. Index sector weightings and top holdings are subject to change.

View Daily Fund Holdings

Distributions

FAS Direxion Daily Financial Bull 3X Shares

Record DateEx DatePay DateIncome DividendShort-Term Capital GainLong-Term Capital GainReturn of Capital
12/22/202312/21/202312/29/20230.38289
09/20/202309/19/202309/26/20230.29278
06/22/202306/21/202306/28/20230.62055
03/22/202303/21/202303/28/20230.16632
12/21/202212/20/202212/28/20220.32590
09/21/202209/20/202209/27/20220.22257
06/23/202206/22/202206/29/20220.12167
12/22/202112/21/202112/29/20210.35754
09/22/202109/21/202109/28/20210.15288
06/23/202106/22/202106/29/20210.14101
03/24/202103/23/202103/30/20210.12864
12/23/202012/22/202012/30/20200.07920
09/23/202009/22/202009/29/20200.04742
06/24/202006/23/202006/30/20200.03642
03/25/202003/24/202003/31/20200.12345
12/24/201912/23/201912/31/20190.10603
09/25/201909/24/201910/01/20190.150350.00091
06/26/201906/25/201907/02/20190.169020.00103
03/20/201903/19/201903/26/20190.154670.00094
12/28/201812/27/201801/04/20190.15993
09/26/201809/25/201810/02/20180.19006
06/20/201806/19/201806/26/20180.16303
03/21/201803/20/201803/27/20180.12729
12/20/201712/19/201712/27/20170.07745
03/25/201003/23/201003/30/20100.29172
09/24/200909/22/200909/29/20090.16573
06/25/200906/23/200906/30/20090.01128
Record Date12/22/2023
Ex Date12/21/2023
Pay Date12/29/2023
Income Dividend0.38289
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital
Record Date09/20/2023
Ex Date09/19/2023
Pay Date09/26/2023
Income Dividend0.29278
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital
Record Date06/22/2023
Ex Date06/21/2023
Pay Date06/28/2023
Income Dividend0.62055
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital
Record Date03/22/2023
Ex Date03/21/2023
Pay Date03/28/2023
Income Dividend0.16632
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital
Record Date12/21/2022
Ex Date12/20/2022
Pay Date12/28/2022
Income Dividend0.32590
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital
Record Date09/21/2022
Ex Date09/20/2022
Pay Date09/27/2022
Income Dividend0.22257
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital
Record Date06/23/2022
Ex Date06/22/2022
Pay Date06/29/2022
Income Dividend0.12167
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital
Record Date12/22/2021
Ex Date12/21/2021
Pay Date12/29/2021
Income Dividend0.35754
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital
Record Date09/22/2021
Ex Date09/21/2021
Pay Date09/28/2021
Income Dividend0.15288
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital
Record Date06/23/2021
Ex Date06/22/2021
Pay Date06/29/2021
Income Dividend0.14101
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital
Record Date03/24/2021
Ex Date03/23/2021
Pay Date03/30/2021
Income Dividend0.12864
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital
Record Date12/23/2020
Ex Date12/22/2020
Pay Date12/30/2020
Income Dividend0.07920
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital
Record Date09/23/2020
Ex Date09/22/2020
Pay Date09/29/2020
Income Dividend0.04742
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital
Record Date06/24/2020
Ex Date06/23/2020
Pay Date06/30/2020
Income Dividend0.03642
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital
Record Date03/25/2020
Ex Date03/24/2020
Pay Date03/31/2020
Income Dividend0.12345
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital
Record Date12/24/2019
Ex Date12/23/2019
Pay Date12/31/2019
Income Dividend0.10603
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital
Record Date09/25/2019
Ex Date09/24/2019
Pay Date10/01/2019
Income Dividend0.15035
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital0.00091
Record Date06/26/2019
Ex Date06/25/2019
Pay Date07/02/2019
Income Dividend0.16902
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital0.00103
Record Date03/20/2019
Ex Date03/19/2019
Pay Date03/26/2019
Income Dividend0.15467
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital0.00094
Record Date12/28/2018
Ex Date12/27/2018
Pay Date01/04/2019
Income Dividend0.15993
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital
Record Date09/26/2018
Ex Date09/25/2018
Pay Date10/02/2018
Income Dividend0.19006
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital
Record Date06/20/2018
Ex Date06/19/2018
Pay Date06/26/2018
Income Dividend0.16303
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital
Record Date03/21/2018
Ex Date03/20/2018
Pay Date03/27/2018
Income Dividend0.12729
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital
Record Date12/20/2017
Ex Date12/19/2017
Pay Date12/27/2017
Income Dividend0.07745
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital
Record Date03/25/2010
Ex Date03/23/2010
Pay Date03/30/2010
Income Dividend0.29172
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital
Record Date09/24/2009
Ex Date09/22/2009
Pay Date09/29/2009
Income Dividend0.16573
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital
Record Date06/25/2009
Ex Date06/23/2009
Pay Date06/30/2009
Income Dividend0.01128
Short-Term Capital Gain
Long-Term Capital Gain
Return of Capital

FAZ Direxion Daily Financial Bear 3X Shares

Record DateEx DatePay DateIncome DividendShort-Term Capital GainLong-Term Capital Gain
12/22/202312/21/202312/29/20230.08009
09/20/202309/19/202309/26/20230.14902
06/22/202306/21/202306/28/20230.16861
03/22/202303/21/202303/28/20230.26879
12/21/202212/20/202212/28/20220.00094
03/25/202003/24/202003/31/20200.04461
12/24/201912/23/201912/31/20190.07301
09/25/201909/24/201910/01/20190.24097
03/20/201903/19/201903/26/20190.02749
12/28/201812/27/201801/04/20190.04078
09/26/201809/25/201810/02/20180.02095
03/21/201803/20/201803/27/20180.01461
Record Date12/22/2023
Ex Date12/21/2023
Pay Date12/29/2023
Income Dividend0.08009
Short-Term Capital Gain
Long-Term Capital Gain
Record Date09/20/2023
Ex Date09/19/2023
Pay Date09/26/2023
Income Dividend0.14902
Short-Term Capital Gain
Long-Term Capital Gain
Record Date06/22/2023
Ex Date06/21/2023
Pay Date06/28/2023
Income Dividend0.16861
Short-Term Capital Gain
Long-Term Capital Gain
Record Date03/22/2023
Ex Date03/21/2023
Pay Date03/28/2023
Income Dividend0.26879
Short-Term Capital Gain
Long-Term Capital Gain
Record Date12/21/2022
Ex Date12/20/2022
Pay Date12/28/2022
Income Dividend0.00094
Short-Term Capital Gain
Long-Term Capital Gain
Record Date03/25/2020
Ex Date03/24/2020
Pay Date03/31/2020
Income Dividend0.04461
Short-Term Capital Gain
Long-Term Capital Gain
Record Date12/24/2019
Ex Date12/23/2019
Pay Date12/31/2019
Income Dividend0.07301
Short-Term Capital Gain
Long-Term Capital Gain
Record Date09/25/2019
Ex Date09/24/2019
Pay Date10/01/2019
Income Dividend0.24097
Short-Term Capital Gain
Long-Term Capital Gain
Record Date03/20/2019
Ex Date03/19/2019
Pay Date03/26/2019
Income Dividend0.02749
Short-Term Capital Gain
Long-Term Capital Gain
Record Date12/28/2018
Ex Date12/27/2018
Pay Date01/04/2019
Income Dividend0.04078
Short-Term Capital Gain
Long-Term Capital Gain
Record Date09/26/2018
Ex Date09/25/2018
Pay Date10/02/2018
Income Dividend0.02095
Short-Term Capital Gain
Long-Term Capital Gain
Record Date03/21/2018
Ex Date03/20/2018
Pay Date03/27/2018
Income Dividend0.01461
Short-Term Capital Gain
Long-Term Capital Gain

Strategy & Benefits

You know that TRADING is different than investing. But the opportunity to take advantage of short-term trends is only won, if you get the direction right.

Whether you’re a bull or a bear, Direxion is with you. Our leveraged ETFs are powerful tools built to help you:

  • Magnify your short-term perspective with daily 3X leverage
  • Go where there’s opportunity, with bull and bear funds for both sides of the trade; and
  • Stay agile – with liquidity to trade through rapidly changing markets

Leveraged and inverse ETFs pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They seek daily goals and should not be expected to track the underlying index over periods longer than one day. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments.

Documents

Tax Documents

Download the following Tax Reporting Documents

How to Buy

ETFs are generally available for purchase on exchanges, much like stocks—and can be bought and sold throughout the trading day whenever exchanges are open. Direxion ETFs cannot be purchased directly from Direxion, but are available for trading on most trading platforms.

We strongly recommend that you take the time to educate yourself on how leveraged and inverse ETFs function and behave in various market conditions before you endeavor to trade them in your account. It’s always a good idea to consult a financial advisor or brokerage account representative if you have questions about any ETFs.

Please note, your advisor or broker may charge commissions or other transaction fees.If you have any questions specific to Direxion products, please contact us direct at [email protected] or 866-476-7523.

Operational Updates

Documents & Downloads

How to Buy

While you can't purchase our funds from our website, investors still have multiple options for buying Direxion ETFs
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