Key stats
About Direxion Financial Bear 3X Shares
Home page
Inception date
Nov 6, 2008
Structure
Open-Ended Fund
Replication method
Synthetic
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Rafferty Asset Management LLC
Distributor
Foreside Fund Services LLC
FAZ makes a big and bearish one-day bet against large-cap US financials stocks. It provides -3x exposure to a market cap-weighted index that captures the financials segment of the S&P 500. To gain inverse exposure to the index, FAZ invests in swap agreements, futures contracts, and short positions on the index. As a leveraged product, FAZ is not a buy-and-hold ETF, it is a short-term tactical instrument. The fund rebalances daily. As a result, compounding and path dependency make its long-term returns difficult to predict when compared with its underlying index. Over longer periods, returns can vary significantly from -3x exposure to its underlying index. Prior to February 28, 2022, the fund tracked the Russell 1000 Financials Services Index. On August 1, 2022, the fund ceased tracking the Russell 1000 Financials 40 Act 15/22.5 Daily Capped Index.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Cash
Bonds, Cash & Other100.00%
Cash100.00%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
FAZ last dividends amounted to 0.10 USD. The quarter before, the issuer paid 0.04 USD in dividends, which shows a 59.35% increase.
FAZ assets under management is 117.35 M USD. It's risen 8.58% over the last month.
FAZ fund flows account for 46.77 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Yes, FAZ pays dividends to its holders with the dividend yield of 8.05%. The last dividend (Apr 1, 2025) amounted to 0.10 USD. The dividends are paid quarterly.
FAZ shares are issued by Rafferty Asset Management LLC under the brand Direxion. The ETF was launched on Nov 6, 2008, and its management style is Passive.
FAZ expense ratio is 1.04% meaning you'd have to pay 1.04% of your investment to help manage the fund.
FAZ follows the S&P Financial Select Sector. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
FAZ invests in cash.
FAZ price has fallen by −13.77% over the last month, and its yearly performance shows a −55.84% decrease. See more dynamics on FAZ price chart.
NAV returns, another gauge of an ETF dynamics, have fallen by −11.93% over the last month, showed a −3.32% decrease in three-month performance and has decreased by −53.69% in a year.
NAV returns, another gauge of an ETF dynamics, have fallen by −11.93% over the last month, showed a −3.32% decrease in three-month performance and has decreased by −53.69% in a year.
FAZ trades at a premium (0.08%) meaning the ETF is trading at a higher price than the calculated NAV.