FAZ
Direxion Financial Bear 3X ETF
7월 28일 4:00 PM ET (한국 7/29 05:00)
$31.79
-1.15 ▼ -3.49%
🌙 7월 28일 7:59 PM ET (한국 7/29 08:59)
$31.94
+0.15 ▲ +0.47%
FAZ ETF is analyzed across 10 metrics including expense ratio, holdings, sector allocation, dividends, RSI, and MACD.
Total Expense Ratio
1.03%
Annual operating cost
Net Assets (AUM)
$87M
약 1187억원
Holdings
9 items
Dividend Yield
3.68%
Management Style
Passive
| Category | Equity - Leveraged / Inverse | Asset Type | Equities (Stocks) | Return% 1Y | -20.14% | Total Holdings | 9 | Perf Week | -7.4% |
| ETF Type | US Equities | Active/Passive | Passive | Return% 3Y | -39.12% | AUM | $87M | Perf Month | -19.54% |
| Expense | 1.03% | NAV | $32.94 | Return% 5Y | -34.01% | 52W High | -43.6% | Perf Quarter | -27.65% |
| Dividend TTM | $1.17 (3.68%) | Div Gr. 3/5Y | 500.51% -11.4% | Return% 10Y | -44.45% | 52W Low | -2.24% | Perf Half Y | -23.21% |
| Flows% 1M | 1.75% | Flows% YTD | 14.47% | Return% SI | -52.75% | Volatility(W/M) | 2.77% 3.54% | Perf YTD | -17.28% |
| SMA20 | -8.17% | SMA50 | -19.3% | SMA200 | -25.53% | RSI (14) | 28.83 | Beta | -2.44 |
| IPO | 2008/11/6 | Prev Close | $32.94 | Perf Year | -25.2% | Avg Volume | 0.48M | Price | $31.79 |
Direxion Financial Bear 3X ETF (FAZ) Investment Analysis
ETF Overview
Direxion Financial Bear 3X ETF · Equity - Leveraged / Inverse
인버스형 — 지수 하락에 베팅 (단기 헤지용 · 고위험)
2008년 상장, 18년 운영 중.
Direxion Daily Financial Bear 3X Shares는 수수료 및 비용 차감 전 기준으로 Financials Select Sector 지수 일간 성과의 인버스 3배(-300%)에 해당하는 일간 투자 성과를 목표로 합니다. 자산의 최소 80%를 스왑 계약, 선물, 숏(매도) 포지션 등 일간 인버스 노출을 제공하는 금융 상품에 투자합니다. 금융 섹터 지수의 하락으로부터 수익을 얻고자 하며, 비분산형(Non-diversified) 펀드입니다.
📘 FAZ ETF 자세히 알아보기 →U.S.equityfinancialleverage
- 규모
- $87M 약 1187억원
- 운용사
- Direxion
- 운용 방식
- 패시브 (지수 추종)
- 상장일
- 2008년
Cost Efficiency
Annual Expense Ratio · Category Rank · Long-Term Cost Impact
Average expense ratio — 1.03% annually
Mid-range within the Equity - Leveraged / Inverse category.
Effective Annual Expense Ratio (Net Expense Ratio)
평균권1.03%
My positionMid-range
Low range Average High range
Actual Cost Simulation by Investment Amount
$100.0M
Annual Expense Ratio
$1.0M
Pay $60K more per year vs. category average
Category Median Annual Cost
$970K
Based on expense ratio of 0.97%
10-Year Cumulative Expense Ratio (Long-term simulation assuming 7% annual market growth)
$18.1M
18.8% of returns you could have earned goes to the fund manager due to fees
Because the expense ratio takes a slice of your assets every year, costs compound over 10 years and result in far greater losses than a simple sum (annual fee × 10). The 7% annual return assumption is based on the S&P 500's long-term average.
Defaults shown against $100K baseline portfolio. Adjust the slider to update the amount in real time.
Cheaper alternatives in the same category
TOPW
Roundhill Top WeeklyPay ETF
0.32%
-0.71%p annually
FNGU
MicroSectors FANG+ 3X Leveraged ETNs
0.35%
-0.68%p annually
SPDN
Direxion Daily S&P 500 Bear 1X ETF
0.48%
-0.55%p annually
* A lower fee does not necessarily mean a better ETF. Consider the tracked index, liquidity, and tax treatment as well.
Long-Term Performance
1-year · 3-year · 5-year · 10-year returns · vs. benchmark · drawdown defense
Returns slightly below average
하위 25% vs. Equity - Leveraged / Inverse.-37.9%p vs. benchmark (SPY) over 1Y.
ℹ️ The "1Y·3Y·5Y·10Y" periods below represent annualized returns (CAGR) measured backward from today. Example: "3Y +12%" means the investment grew at a compounded 12% per year over the past three years.
↩️ Inverse ETF — for short-term hedging only
These products bet on declines in the underlying index. By construction, "if the index rises, the ETF falls," so it is not unusual to see a negative annualized return (−). The daily reset mechanism causes significant compounding decay over longer holding periods. Long-term holding is not recommended outside of hedging or short-term trading purposes.
If you had invested 10 year(s) ago
$100.0M
Today's value
$280K
→
Total loss
$-99,720,205
Annualized -44.5%
ℹ️ How to read the return breakdown bar
Each period bar shows the share of this ETF's returns by source.
Price gains Price decline Dividends received
Mostly blue (80%+): Growth-style — price gains drive most returns
Mostly orange (70%+): Income-style — dividends drive most returns (watch out for after-tax drag)
Red + orange: Stagnant or declining price — dividends offset losses (common in covered-call and high-dividend funds)
Mostly orange (70%+): Income-style — dividends drive most returns (watch out for after-tax drag)
Red + orange: Stagnant or declining price — dividends offset losses (common in covered-call and high-dividend funds)
1 Year
2025.07 ~ 2026.07
Annualized -20.14%
평균권Price -25.20% + Dividend +5.06% = Total -20.14%/yr
Trailed the benchmark by 37.9%p annually
My positionMid-range
Low range Average High range
3 Years
2023.07 ~ 2026.07
Annualized -39.12% Cumulative -77.4%
하위 25%Price -42.53% + Dividend +3.41% = Total -39.12%/yr
Trailed the benchmark by 58.4%p annually
My positionBottom 25%
Low range Average High range
5 Years
2021.07 ~ 2026.07
Annualized -34.01% Cumulative -87.5%
하위 25%Price -34.74% + Dividend +0.73% = Total -34.01%/yr
Trailed the benchmark by 47.2%p annually
My positionBottom 25%
Low range Average High range
10Y
2016.07 ~ 2026.07
Annualized -44.45% Cumulative -99.7%
하위 25%Price -45.30% + Dividend +0.85% = Total -44.45%/yr
Trailed the benchmark by 59.4%p annually
My positionBottom 25%
Low range Average High range
10Y Cumulative Total Return Curve
2016-07-29 start, based on a 100M KRW base — read the curve values directly as units of 100M KRW (e.g., 308 → 3.08억 / 308M KRW). Both this ETF and the benchmark are rebased to 100 on the same start date for comparison.
FAZ · Price Only FAZ · Price + Cumulative Dividends FAZ · Dividend Reinvested S&P 500 (SPY)
0
150
300
450
ℹ️ Price Only: Excludes dividends and tracks pure stock price only. Covered-call and high-dividend ETFs often show a flat or declining line on this view, which is meaningful from a "principal preservation" standpoint. Price + Cumulative Dividend: Share count stays the same and received dividends are accumulated as cash. Closely matches your actual account total assets. Reinvested: Dividends are immediately used to buy additional shares (adjClose-based, the industry standard for total return). The wider the gap between the three lines, the easier it is to gauge the effectiveness of the dividend strategy.
Annual Return Comparison
ETF returns vs S&P 500 (SPY) by calendar year
FAZ S&P 500 (SPY)
+80%
0%
−80%
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026 YTD
💡 Inverse ETFs are the mirror image — positive returns in years the benchmark falls, losses in years it rises.
ℹ️ Returns from January 1 to December 31 of each year. The current year (2026) column is dimmed to indicate YTD (incomplete). If blue is higher than gray, the ETF outperformed the benchmark in that year.
Win rate vs S&P 500 (SPY)
2 / 9Y
Lags behind benchmark (22%)
+ 2026 YTD: Behind (-16.1% vs 8.7%)
2017 ✗
2018 ✓
2019 ✗
2020 ✗
2021 ✗
2022 ✓
2023 ✗
2024 ✗
2025 ✗
2026 ✗ YTD
💡 Inverses only win in down years — not suitable as a long-term win-rate metric.
ℹ️ Number of winning years versus S&P 500 (SPY) within a completed calendar year (1/1–12/31). The current year (YTD) is reported separately.
Downside Capture
-222%
Falls less than the benchmark in drawdowns — strong downside protection
<85% (Defend) 85~110% (Track) >110% (Lag)
💡 Inverses rise when the benchmark falls and fall when it rises — the usual interpretation of this metric is reversed.
ℹ️ Average % drop of this ETF when S&P 500 (SPY) is −1%. Based on daily returns over the past 3 years (only days where the benchmark is negative).
Risk Profile
Volatility · Beta · Max Drawdown · Sharpe · Drawdown Recovery History
Overall Risk Grade
High Risk
These products move opposite to the market. The longer you hold them, the more losses accumulate over time, making them suitable only for short-term hedging.
↩️ Inverse ETFs — Negative Beta is normal
Because they move opposite to the index, a negative Beta or one near −1 is expected. Volatility is similar to the underlying index. These are intended for short-term hedging and are unsuitable for long-term holding.
Beta (market sensitivity)
상위 25%-2.44
If the market rises +10% -24.4%
If the market falls -10% +24.4%
My positionTop 25%
Low range Average High range
ℹ️ A beta of 1.0 moves in line with the market. Above 1 means it moves more than the market; below 1 means less.
Average daily range (last 1 month)
평균권±3.54%
S&P 500 typically ±1.0~1.3% · Bond funds ±0.3% · Leveraged ETFs ±3% or more
Annual volatility trend (past 10 years)
ℹ️ This ETF's average daily price swing. 1% means "on average, moves about ±1% per day." The rolling curve below shows the annualized volatility (long-term standard measure) over time.
Max Drawdown · Past 10 years
-99.9%
2015-08-03 Worst -100% 2026-07-01
ℹ️ Maximum drawdown is the largest peak-to-trough decline in the past. It represents the worst-case loss a long-term investor must psychologically endure.
Sharpe Ratio (Risk-Adjusted Return)
-0.74
Poor — Underperforms the risk-free rate
ℹ️ Annualized return minus the risk-free rate (3% annualized), divided by annualized volatility. A value above 1.0 is generally considered good risk-adjusted performance.
Estimated Monthly Maximum Loss (VaR 95%)
-25.5%
Historically, monthly losses exceeding this figure occurred only5%of the time.
ℹ️ A statistical estimate meaning "with 95% probability, monthly losses will not exceed this amount." The remaining 5% corresponds to crisis-level events such as financial crises or pandemics.
Dividend Analysis
Yield · Dividend history · After-tax income calculator
Inverse ETF distribution — 3.68% annually
This product is designed for directional hedging and has little to do with dividend income.5-year dividend growth rate: -11.4%.
Inverse ETFs are not designed for dividend income, and even when they pay distributions, structural decay can offset them.
배당수익률
3.68%
주당 배당
$1.17
연간 기준
5년 성장률
-11.4%
지급 주기
분기배당
3월 · 9월 · 12월
연도별 배당 총액 추이
주당 배당금을 연 단위로 합산한 금액입니다. 막대가 우상향이면 매년 배당이 늘어나고 있다는 뜻입니다.
$30.80
2018
$35.92 +16.6%
2019
$3.60 -90.0%
2020
$0.01 -99.7%
2022
$6.67 +66600.0%
2023
$4.69 -29.7%
2024
$1.95 -58.4%
2025
$X.XX 그 해 총 배당금 +X% 전년 대비 증가 -X% 감소
최근 배당 이력 총 21건
아래로 스크롤하면 과거 배당 이력을 볼 수 있습니다.
배당락일
주당 금액
지급일
당시 수익률
2026-03-24
$0.379
—
4.55%
2025-12-23
$0.163
—
6.42%
2025-09-23
$0.380
—
7.96%
2025-06-24
$0.380
—
9.39%
2025-03-25
$1.03
—
7.19%
2024-12-23
$0.420
—
7.43%
2024-09-24
$1.02
—
6.31%
2024-06-25
$1.45
—
5.28%
2024-03-19
$1.80
—
8.02%
2023-12-21
$0.800
—
4.75%
2023-09-19
$1.49
—
3.39%
2023-06-21
$1.69
—
2.21%
2023-03-21
$2.69
—
1.21%
2022-12-20
$0.010
—
0.00%
2020-03-24
$3.60
—
0.74%
2019-12-23
$5.84
—
2.32%
2019-09-24
$19.28
—
1.96%
2019-03-19
$10.80
—
1.15%
2018-12-27
$16.40
—
0.55%
2018-09-25
$8.40
—
0.39%
2018-03-20
$6.00
—
0.14%
* "배당락일"은 배당받으려면 이 날 이전에 주식을 보유해야 하는 기준일입니다. 지급일·당시 수익률은 일부 종목에서 데이터가 없을 수 있습니다.
💰 내가 $100K 투자한다면
연간 배당금 (세후) $3K
5년 누적 (세후) $12K
* 환율 1 가정, 배당소득세 15% 반영. 5년 누적은 배당 성장률 연 -11.4% 가정.
* Qualified dividend middle-bracket approximation. Actual rate varies by total income.
Overall investment appeal
What this ETF fits best — strengths, weaknesses, and target investor profile
Designed for short-term trading Not recommended for long-term investing, but suitable for short-term trading and hedging.
⚠️ Short-term hedge that moves opposite to the market. Time decay causes losses to accumulate on long holds.
🎯 목적별 적합도
내가 이 ETF를 어떤 목적으로 활용할 수 있는지 확인하세요.
부적합
부적합
매우 적합
매우 낮음
이런 분에게 어울려요
For short-term hedging and downside bets
✅ 강점
뚜렷한 강점이 드러나지 않아요.
⚠️ 약점·주의사항
- 📈Long-term returns trail the average
- 🎯Trails benchmark by -47.2%p annually
- 🔄Inverse — time decay losses accumulate the longer you hold
Portfolio Composition
What's actually inside — sector weights and top holdings
파생상품 기반 ETF
실제 보유 종목이 일반 ETF와 다르게 스왑·선물 중심이에요.
ℹ️ 왜 구성을 봐야 하나요?
ETF의 실제 성과는 담고 있는 종목과 섹터에서 나와요. 이름이 "S&P 500"이라도 기술주 비중이 유난히 높을 수 있고, "배당주 ETF"라도 몇몇 대형주에 쏠려 있을 수 있어요. 라벨보다 실제 구성을 확인하는 게 중요해요.
🔬 집중도 한눈에 보기
총 보유종목
8개
상위 10개 비중
115.8%
최대 단일 종목
51.05%
집중도(HHI)
4270
높음 (집중)
⚠️ 소수 종목·섹터에 집중되어 있어, 해당 종목/섹터가 흔들리면 ETF 전체가 크게 영향을 받아요.
📋 상위 보유 종목 Top 10 Top 10이 전체의 113.6% 차지
티커 옆의 점 색상 = 섹터 구분 (섹터 차트와 동일 색상)
#1 - DREYFUS GOVERNMENT CASH MANAGE 51.05%
#2 - GOLDMAN FINANCIAL 36.93%
#3 - DREYFUS 15.50%
#4 - N/A 6.02%
#5 - N/A 4.70%
#6 - N/A 0.81%
#7 - N/A 0.79%
#8 - N/A -2.20%
Category Peers
Category: Equity - Leveraged / Inverse
같은 카테고리 6종 중 AUM 6/6위 · 보수율 6/6위
카테고리: Equity - Leveraged / Inverse
ℹ️ 왜 비교해야 하나요?
같은 카테고리 ETF끼리는 보수율·규모(AUM)·배당률을 비교해 볼 가치가 있어요. 보수율은 낮을수록 장기 수익에 유리하고, AUM이 크면 운용 안정성이 높아요. ▲ 표시는 FAZ보다 유리, ▼ 표시는 FAZ보다 불리를 뜻해요.
| 티커 | ETF명 | 보수율 | AUM | 보유종목 | 배당률 | YTD | 1년 |
|---|---|---|---|---|---|---|---|
| FAZ | Direxion Financial Bear 3X ETF | 1.03% | $87M | 9 | 3.68% | -17.28% | -25.20% |
| ProShares UltraPro Short QQQ -3x Shares | 0.95% ▲ | $2.1B ▲ | 22 | 8.59% ▲ | - | -48.55% ▼ | |
| Direxion Daily Semiconductor Bear 3X ETF | 1% ▲ | $1.6B ▲ | 13 | 36.06% ▲ | - | -95.65% ▼ | |
| ProShares Short S&P500 -1x Shares | 0.89% ▲ | $930M ▲ | 18 | 4.16% ▲ | - | -13.67% ▲ | |
| ProShares Short QQQ -1x Shares | 0.95% ▲ | $791M ▲ | 18 | 4.18% ▲ | - | -16.85% ▲ | |
| ProShares UltraPro Short S&P 500 | 0.9% ▲ | $431M ▲ | 18 | 6.63% ▲ | - | -38.30% ▼ |
AUM 내림차순 정렬 · ▲ FAZ보다 유리 · ▼ FAZ보다 불리
Leveraged & Covered Call ETFs on the Same Theme
ETFs that approach the same theme with a different strategy
12 ETFs tracking the same theme as FAZ using leveraged or covered call strategies (Leverage 7 · Inverse 4 · Covered Call 1)
Not direct derivatives of FAZ, but ETFs that cover the same theme via a different strategy.
ℹ️ Which ETFs are included?
Among ETFs whose theme (category or sector) overlaps with FAZ, some use special strategies. Leveraged ETFs aim for 2–3× the daily move, Inverse ETFs seek opposite-direction returns, and Covered Call ETFs generate monthly income from option premiums.
⚠️ Caution: Long-Term Holding
Leveraged and inverse ETFs track only the daily return. With high volatility, holding them for longer periods causes cumulative volatility decay—returns diverge further from the underlying index. They are meant for short-term trading.
Leverage 7 ETFs that amplify the same theme by 2-3x (high volatility)
FAS
Direxion Financial Bull 3X ETF
+3.60%
$2.4B
UYG
ProShares Ultra Financials 2x Shares
+2.55%
$827M
BNKU
MicroSectors U.S.Big Banks 3 Leveraged ETNs
+0.53%
$45M
EET
ProShares Ultra MSCI Emerging Markets 2x Shares
-2.81%
$34M
XLFX
Corgi U.S. Financials 2x Daily ETF
+2.49%
FINY
GraniteShares YieldBOOST Financials ETF
+0.39%
XKRE
Corgi U.S. Regional Banks 2x Daily ETF
+3.24%
Inverse 4 ETFs that bet on declines in the same theme
Covered Call & Options 1 ETFs that add a monthly dividend via covered calls on the same theme
FAQ
What kind of ETF is FAZ?
FAZ is an ETF in the Equity - Leveraged / Inverse category, managed by Direxion.
How many holdings does FAZ have?
FAZ holds a total of 9 securities, with an AUM of approximately $87M.
Does FAZ pay dividends (distributions)?
FAZ's distribution yield is approximately 3.68%.
What is the 52-week high and low for FAZ?
FAZ has recorded a 52-week high of $56.37 and a low of $32.52.
면책조항: 본 콘텐츠는 참고 자료이며 투자 권유가 아닙니다. 모든 투자의 책임은 투자자 본인에게 있습니다.