FAS vs QQQ
Direxion Daily Financial Bull 3X ETF vs Invesco QQQ Trust, Series 1
Which is better, FAS or QQQ?
Trading-Leveraged Equity against Large Cap Growth.
QQQ has a lower expense ratio. FAS led over 3Y, QQQ over 1Y, 5Y and the full window. QQQ is less concentrated, with 46.5% of the fund in its ten largest positions against 63.6%.
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 | QQQ |
|---|---|---|
| Expense Ratio | 0.88% | 0.18%Best |
| AUM | $2.3B | $483.5B |
| Dividend Yield | 7.82% | 0.44% |
| Holdings | 88 | 107 |
| YTD Return | +3.40% | +16.87%Best |
| 1Y Return | +5.85% | +22.98%Best |
| 3Y Return (annualized) | +42.44%Best | +24.98% |
| 5Y Return (annualized) | +10.68% | +14.39%Best |
| Volatility (annualized) | 57.5% | 17.7%Best |
| Max Drawdown | -94.8% | -35.1%Best |
| $10,000 over 5 years | $16,609 | $19,586Best |
| Top 10 Weight | 63.6% | 46.5%Best |
| Fund Family | Direxion Shares ETF Trust | Invesco (US) |
| Category | Alternative | Equity |
| Style | Trading-Leveraged Equity | Large Cap Growth |
| Inception | Nov 6, 2008 | Mar 10, 1999 |
Volatility and max drawdown are measured over the window both funds cover: Nov 6, 2008 to Sep 11, 2026 (17.8 years).
FAS vs QQQ 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 17.8 years both funds cover.
FAS vs QQQ Performance
Direxion Daily Financial Bull 3X ETF (FAS) is an ETF from Direxion Shares ETF Trust and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year FAS returned +5.85% while QQQ returned +22.98%. Year to date, FAS is up 3.40% versus a gain of 16.87% for QQQ.
Over three years, FAS compounded at +42.44% per year against +24.98% for QQQ; over five years the annualized figures are +10.68% and +14.39% respectively. Across the full 18-year window we track, QQQ has the edge at +19.54% annualized vs +10.70%.
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 17.7% for QQQ. 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 -35.1% for QQQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.66. They move together some of the time, and apart the rest.
Fees and Cost Over Time
FAS charges 0.88% per year while QQQ charges 0.18%. On a $10,000 position that is $88 vs $18 annually, a gap of $70 per year that compounds over a long holding period. On income, FAS currently yields 7.82% against 0.44% for QQQ.
Holdings Overlap
0.4% of FAS's money is in holdings QQQ also owns. 0.2% of QQQ's money is in holdings FAS also owns.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 79 positions we hold weights for in FAS and 102 in QQQ, against full books of 88 and 107.
What only one of them owns
Our book lists 94 positions for QQQ that do not appear in our book for FAS (96.8% of the fund), and 77 for FAS that do not appear in QQQ (96.5%).
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 QQQ | Difference |
|---|---|---|---|
| PYPLPaypal Holdings Inc | 0.41% | 0.22% | 0.19% |
You are not choosing between two funds in isolation.
Whichever of FAS and QQQ 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, FAS or QQQ?
FAS has an expense ratio of 0.88% while QQQ charges 0.18%. QQQ is the cheaper option, by $70 a year on a $10,000 investment.
Which performed better, FAS or QQQ?
Over the past year FAS returned +5.85% vs +22.98% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (18 years), FAS annualized +10.70% vs +19.54% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FAS or QQQ?
FAS has been the more volatile fund at 57.5% annualized versus 17.7% for QQQ. Worst drawdown: FAS -94.8% vs QQQ -35.1%.
Should I hold both FAS and QQQ?
FAS and QQQ have a monthly-return correlation of 0.66, 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, FAS or QQQ?
FAS yields 7.82% while QQQ yields 0.44%, so FAS currently pays the higher dividend yield.
Is QQQ better than FAS?
QQQ has a lower expense ratio. FAS led over 3Y, QQQ over 1Y, 5Y and the full window. QQQ is less concentrated, with 46.5% of the fund in its ten largest positions against 63.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.