FAS vs IVV
Direxion Daily Financial Bull 3X ETF vs iShares Core S&P 500 ETF
Which is better, FAS or IVV?
Trading-Leveraged Equity against Large Cap Blend.
IVV has a lower expense ratio. FAS led over 3Y, IVV over 1Y, 5Y and the full window. IVV is less concentrated, with 37.8% of the fund in its ten largest positions against 65.5%.
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 | FAS | IVV |
|---|---|---|
| Expense Ratio | 0.88% | 0.03%Best |
| AUM | $2.3B | $876.4B |
| Dividend Yield | 7.82% | 1.06% |
| Holdings | 88 | 508 |
| YTD Return | -3.77% | +11.03%Best |
| 1Y Return | +1.26% | +15.62%Best |
| 3Y Return (annualized) | +38.39%Best | +20.81% |
| 5Y Return (annualized) | +9.47% | +12.61%Best |
| Volatility (annualized) | 57.5% | 14.9%Best |
| Max Drawdown | -94.8% | -33.9%Best |
| $10,000 over 5 years | $15,721 | $18,109Best |
| Top 10 Weight | 65.5% | 37.8%Best |
| Fund Family | Direxion Shares ETF Trust | iShares by BlackRock (US) |
| Category | Alternative | Equity |
| Style | Trading-Leveraged Equity | Large Cap Blend |
| Inception | Nov 6, 2008 | May 15, 2000 |
Volatility and max drawdown are measured over the window both funds cover: Nov 6, 2008 to Sep 16, 2026 (17.9 years).
FAS vs IVV 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 17.9 years both funds cover.
FAS vs IVV Performance
Direxion Daily Financial Bull 3X ETF (FAS) is an ETF from Direxion Shares ETF Trust and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year FAS returned +1.26% while IVV returned +15.62%. Year to date, FAS is down 3.77% versus a gain of 11.03% for IVV.
Over three years, FAS compounded at +38.39% per year against +20.81% for IVV; over five years the annualized figures are +9.47% and +12.61% respectively. Across the full 18-year window we track, IVV has the edge at +13.09% annualized vs +10.25%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FAS has been the more volatile fund, with annualized monthly volatility of 57.5% compared with 14.9% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -94.8% for FAS and -33.9% for IVV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
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
FAS charges 0.88% per year while IVV charges 0.03%. On a $10,000 position that is $88 vs $3 annually, a gap of $85 per year that compounds over a long holding period. On income, FAS currently yields 7.82% against 1.06% for IVV.
Holdings Overlap
62.5% of FAS's money is in holdings IVV also owns. 10.8% of IVV's money is in holdings FAS also owns.
The two portfolios partly overlap.
73 positions in common, counted across the 79 positions we hold weights for in FAS and 490 in IVV, against full books of 88 and 508.
What only one of them owns
Our book lists 409 positions for IVV that do not appear in our book for FAS (87.8% of the fund), and 4 for FAS that do not appear in IVV (39.0%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in FAS | Weight in IVV | Difference |
|---|---|---|---|
| JPMJpmorgan Chase | 8.40% | 1.44% | 6.96% |
| VVisa Inc Class A | 5.46% | 0.95% | 4.51% |
| MAMastercard Inc | 4.14% | 0.72% | 3.42% |
| BACBank of America Corp.: Financials | 3.58% | 0.61% | 2.97% |
| GSGoldman Sachs Group Inc/The | 2.61% | 0.46% | 2.15% |
| WFCWells Fargo & Co. | 2.35% | 0.40% | 1.95% |
| MSMorgan Stanley | 2.23% | 0.39% | 1.84% |
| CCitigroup Inc. | 2.00% | 0.34% | 1.66% |
| SCHWSchwab Strategic T | 1.56% | 0.27% | 1.29% |
| AXPAmerican Express Co. | 1.52% | 0.27% | 1.25% |
62.5% of FAS is already inside IVV.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FAS or IVV?
FAS has an expense ratio of 0.88% while IVV charges 0.03%. IVV is the cheaper option, by $85 a year on a $10,000 investment.
Which performed better, FAS or IVV?
Over the past year FAS returned +1.26% vs +15.62% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (18 years), FAS annualized +10.25% vs +13.09% for IVV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FAS or IVV?
FAS has been the more volatile fund at 57.5% annualized versus 14.9% for IVV. Worst drawdown: FAS -94.8% vs IVV -33.9%.
Should I hold both FAS and IVV?
FAS and IVV 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.
What is the holdings overlap between FAS and IVV?
62.5% of FAS's money is in holdings IVV also owns. 10.8% of IVV's is in holdings FAS also owns. They hold 73 positions in common, counted across the 79 positions we hold weights for in FAS and 490 in IVV.
Which pays a higher dividend, FAS or IVV?
FAS yields 7.82% while IVV yields 1.06%, so FAS currently pays the higher dividend yield.
Is IVV better than FAS?
IVV has a lower expense ratio. FAS led over 3Y, IVV over 1Y, 5Y and the full window. IVV is less concentrated, with 37.8% of the fund in its ten largest positions against 65.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.