Direxion Daily Financial Bear 3X Shares (FAZ)Trading--Inverse Equity | Exchange Traded Fund | NYSEArca
31.15 USD
-0.25
(-0.796%) ⇩
(Aug. 28, 2026, 4 p.m.
EDT)
After hours: 31.24 +0.09 (0.289%) ⇧ (Aug. 28, 2026, 7:56 p.m. EDT) |
Hot Take ↕ | Aug. 22, 2026, 4:47 a.m. EDT
This instrument is a leveraged inverse ETF designed to profit from a banking sector crash, yet the underlying thesis appears to be failing as the financial sector stabilizes. The price history reveals a catastrophic 99.68% drawdown over nine years, with every single year showing negative returns, signaling a complete failure of the 'financial crisis' narrative to materialize. While the 3.56% dividend yield looks attractive on the surface, it is a dangerous trap; the payout history shows erratic and declining distributions, suggesting the fund is burning capital to maintain the yield rather than generating sustainable income. The options market confirms this despair, with traders pouring money into deep out-of-the-money puts for 2027, betting on a 'Banking Crisis 2.0' that hasn't happened. For a long-term holder, this is a value trap with no growth trajectory and a deteriorating business case. Short-term, the heavy put volume suggests a final leg of selling pressure is likely, making this a poor candidate for a bounce. |
| Model | MAE |
|---|---|
| AutoTheta ✓ | 0.242356 |
| MSTL | 0.242427 |
| AutoETS | 0.249727 |
| AutoARIMA | 0.250898 |
Forecast horizon: 45 days | Selected: AutoTheta
| Forecast Reliability | |
|---|---|
| Score | 44% |
| H-stat | 6.80 |
| Ljung-Box p | 0.000 |
| Jarque-Bera p | 0.200 |
| Excess Kurtosis | -1.17 |
As of Aug. 22, 2026, 4:47 a.m. EDT: Speculators are aggressively positioning for a massive decline, evidenced by a massive volume spike in deep out-of-the-money puts (strikes $2-$6) for January 2027 expirations, where volume dwarfs open interest. Conversely, call activity is concentrated in deep out-of-the-money strikes ($75+) with negligible volume, indicating a lack of bullish conviction. The implied volatility surface shows extreme spikes on the put side, confirming that the market is pricing in a severe downside event rather than a recovery.
| Last Yield | 1yr Yield | 3yr Avg | 5yr Avg |
|---|---|---|---|
| 0.65% | 2.77% | 3.98% | 2.80% |
| Date | Dividend | Yield % |
|---|---|---|
| 2026-06-23 | 0.253 | 0.654085 |
| 2026-03-24 | 0.379 | 0.740234 |
| 2025-12-23 | 0.163 | 0.441137 |
| 2025-09-23 | 0.380 | 0.935961 |
| 2025-06-24 | 0.380 | 0.829694 |
| 2025-03-25 | 1.030 | 1.889908 |
| 2024-12-23 | 0.420 | 0.665610 |
| 2024-09-24 | 1.020 | 1.270237 |
| 2024-06-25 | 1.450 | 1.382269 |
| 2024-03-19 | 1.800 | 1.704545 |
| 2023-12-21 | 0.800 | 0.569801 |
| 2023-09-19 | 1.490 | 0.858295 |
| 2023-06-21 | 1.690 | 0.852244 |
| 2023-03-21 | 2.690 | 1.203041 |
| 2022-12-20 | 0.010 | 0.004888 |
| 2020-03-24 | 3.600 | 0.092726 |
| 2019-12-23 | 5.840 | 0.258407 |
| 2019-09-24 | 19.280 | 0.689951 |
| 2019-03-19 | 10.800 | 0.297685 |
| 2018-12-27 | 16.400 | 0.294118 |
| 2018-09-25 | 8.400 | 0.227273 |
| 2018-03-20 | 6.000 | 0.144648 |
| Attribute | Value |
|---|---|
| All Time High | 64,595,200.0 |
| All Time Low | 8.03 |
| Ask | 31.16 |
| Ask Size | 100 |
| Average Daily Volume10 Day | 791,730 |
| Average Daily Volume3 Month | 562,953 |
| Average Volume | 567,095 |
| Average Volume10Days | 791,730 |
| Beta3 Year | -2.06 |
| Bid | 31.12 |
| Bid Size | 200 |
| Category | Trading--Inverse Equity |
| Crypto Tradeable | 0 |
| Currency | USD |
| Custom Price Alert Confidence | HIGH |
| Day High | 31.41 |
| Day Low | 30.63 |
| Dividend Yield | 3.56 |
| Esg Populated | 0 |
| Exchange | PCX |
| Exchange Data Delayed By | 0 |
| Exchange Timezone Name | America/New_York |
| Exchange Timezone Short Name | EDT |
| Fifty Day Average | 34.0724 |
| Fifty Day Average Change | -2.9223995 |
| Fifty Day Average Change Percent | -0.08577029 |
| Fifty Two Week Change Percent | -22.6601 |
| Fifty Two Week High | 56.37 |
| Fifty Two Week High Change | -25.22 |
| Fifty Two Week High Change Percent | -0.4474011 |
| Fifty Two Week Low | 30.44 |
| Fifty Two Week Low Change | 0.7099991 |
| Fifty Two Week Low Change Percent | 0.023324542 |
| Fifty Two Week Range | 30.44 - 56.37 |
| First Trade Date Milliseconds | 1,227,105,000,000 |
| Five Year Average Return | -0.3079111 |
| Full Exchange Name | NYSEArca |
| Fullday Change | -0.25 |
| Fullday Change Percent | -0.796178 |
| Fullday Price | 31.2399 |
| Fund Family | Direxion Funds |
| Fund Inception Date | 1,225,929,600 |
| Gmt Off Set Milliseconds | -14,400,000 |
| Has Pre Post Market Data | 1 |
| Language | en-US |
| Legal Type | Exchange Traded Fund |
| Long Business Summary | The fund invests at least 80% of the fund’s net assets in financial instruments, that, in combination, provide 3X daily inverse (opposite) or short exposure to the index or to ETFs that track the index, consistent with the fund’s investment objective. The index includes securities of companies from the following industries: financial services; insurance; banks; capital markets; mortgage real estate investment trusts (“REITs”); and consumer finance. It is non-diversified. |
| Long Name | Direxion Daily Financial Bear 3X Shares |
| Market | us_market |
| Market State | CLOSED |
| Max Age | 86,400 |
| Message Board Id | finmb_51234429 |
| Nav Price | 30.866 |
| Net Assets | 88,041,368.0 |
| Net Expense Ratio | 1.03 |
| Open | 31.32 |
| Phone | 866-476-7523 |
| Post Market Change | 0.08990097 |
| Post Market Change Percent | 0.28860664 |
| Post Market Price | 31.2399 |
| Post Market Time | 1,787,961,396 |
| Previous Close | 31.4 |
| Price Hint | 2 |
| Quote Source Name | Delayed Quote |
| Quote Type | ETF |
| Region | US |
| Regular Market Change | -0.25 |
| Regular Market Change Percent | -0.796178 |
| Regular Market Day High | 31.41 |
| Regular Market Day Low | 30.63 |
| Regular Market Day Range | 30.63 - 31.41 |
| Regular Market Open | 31.32 |
| Regular Market Previous Close | 31.4 |
| Regular Market Price | 31.15 |
| Regular Market Time | 1,787,947,200 |
| Regular Market Volume | 648,424 |
| Short Name | Direxion Financial Bear 3X ETF |
| Source Interval | 15 |
| Symbol | FAZ |
| Three Year Average Return | -0.4293049 |
| Total Assets | 88,041,368 |
| Tradeable | 0 |
| Trailing Peg Ratio | None |
| Trailing Three Month Nav Returns | -23.44937 |
| Trailing Three Month Returns | -23.44937 |
| Triggerable | 1 |
| Two Hundred Day Average | 41.38675 |
| Two Hundred Day Average Change | -10.23675 |
| Two Hundred Day Average Change Percent | -0.24734364 |
| Type Disp | ETF |
| Volume | 648,424 |
| Yield | 0.0356 |
| Ytd Return | -13.34177 |