Direxion Daily Financial Bear 3X Shares (FAZ)Trading--Inverse Equity | Exchange Traded Fund | NYSEArca
37.38 USD
+0.74
(2.020%)
⇧
(Oct. 14, 2026, 4 p.m.
EDT)
After hours: 37.16 -0.22 (-0.220%) ⇩ (Oct. 14, 2026, 6:58 p.m. EDT) |
Hot Take ↕ | Oct. 10, 2026, 9:08 a.m. EDT
This instrument is a high-octane contrarian play on the banking sector, not a traditional investment. The short-term outlook remains bearish due to the inherent mechanics of leveraged inverse ETFs; they suffer from decay during volatile sideways markets and require a sustained, sharp decline in the underlying financial sector to generate positive returns. While the recent price action shows a slight bounce off the 50-day average, the heavy put volume at deep strikes reveals that the market is pricing in a 'black swan' scenario where the underlying banks could crash significantly, causing this fund to surge temporarily before facing the compounding drag of leverage. The dividend yield is a mirage; these funds do not generate cash flow, and any distribution is likely a return of capital or a fee structure anomaly that erodes value over time. For a long-term holder, the compounding effect of daily rebalancing in a volatile environment acts as a silent killer, making this unsuitable for buy-and-hold strategies. It is strictly a tactical tool for betting on a banking crisis, requiring constant monitoring and an exit strategy before volatility eats away at the principal. |
| Model | MAE |
|---|---|
| MSTL ✓ | 0.049894 |
| AutoETS | 0.050541 |
| AutoTheta | 0.112469 |
| AutoARIMA | 0.204894 |
Forecast horizon: 45 days | Selected: MSTL
| Forecast Reliability | |
|---|---|
| Score | 35% |
| H-stat | 27.17 |
| Ljung-Box p | 0.000 |
| Jarque-Bera p | 0.010 |
| Excess Kurtosis | 0.17 |
As of Oct. 10, 2026, 9:08 a.m. EDT: Speculators are positioning for continued volatility and downside protection rather than a directional breakout. Put open interest is heavily concentrated deep in-the-money (strikes 2.0, 4.0, 6.0) for January 2027 expirations, suggesting a hedge against a significant drop to near-zero levels. Conversely, call open interest shows massive walls at strikes 3.0 and 15.0, indicating a speculative bet on a catastrophic collapse to those levels. The lack of meaningful open interest above the current price (37.83) and the dominance of deep OTM puts suggest the market views this leveraged inverse ETF as a high-risk vehicle prone to severe drawdowns, with traders primarily buying insurance against further banking sector declines rather than betting on a recovery.
| Last Yield | 1yr Yield | 3yr Avg | 5yr Avg |
|---|---|---|---|
| 0.56% | 2.40% | 3.88% | 2.91% |
| Date | Dividend | Yield % |
|---|---|---|
| 2026-09-22 | 0.205 | 0.560415 |
| 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 | 37.83 |
| Ask Size | 100 |
| Average Daily Volume10 Day | 931,140 |
| Average Daily Volume3 Month | 915,072 |
| Average Volume | 915,072 |
| Average Volume10Days | 931,140 |
| Beta3 Year | -2.11 |
| Bid | 36.94 |
| Bid Size | 100 |
| Category | Trading--Inverse Equity |
| Crypto Tradeable | 0 |
| Currency | USD |
| Custom Price Alert Confidence | HIGH |
| Day High | 38.325 |
| Day Low | 37.37 |
| Display Name | Daily Financial Bear 3X Shares |
| Dividend Yield | 2.52 |
| Esg Populated | 0 |
| Exchange | PCX |
| Exchange Data Delayed By | 0 |
| Exchange Timezone Name | America/New_York |
| Exchange Timezone Short Name | EDT |
| Fifty Day Average | 34.0618 |
| Fifty Day Average Change | 3.318203 |
| Fifty Day Average Change Percent | 0.09741714 |
| Fifty Two Week Change Percent | -10.8301525 |
| Fifty Two Week High | 56.37 |
| Fifty Two Week High Change | -18.989998 |
| Fifty Two Week High Change Percent | -0.33688128 |
| Fifty Two Week Low | 30.33 |
| Fifty Two Week Low Change | 7.050001 |
| Fifty Two Week Low Change Percent | 0.23244317 |
| Fifty Two Week Range | 30.33 - 56.37 |
| First Trade Date Milliseconds | 1,227,105,000,000 |
| Five Year Average Return | -0.2775043 |
| Full Exchange Name | NYSEArca |
| Fullday Change | 0.71829987 |
| Fullday Change Percent | 1.9815168 |
| Fullday Price | 37.38 |
| 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 | POSTPOST |
| Max Age | 86,400 |
| Message Board Id | finmb_51234429 |
| Nav Price | 36.711 |
| Net Assets | 96,294,560.0 |
| Net Expense Ratio | 1.03 |
| Open | 37.9 |
| Phone | 866-476-7523 |
| Post Market Change | -0.22000122 |
| Post Market Change Percent | -0.58855325 |
| Post Market Price | 37.16 |
| Post Market Time | 1,792,018,727 |
| Previous Close | 36.64 |
| Price Hint | 2 |
| Quote Source Name | Delayed Quote |
| Quote Type | ETF |
| Region | US |
| Regular Market Change | 0.740002 |
| Regular Market Change Percent | 2.01966 |
| Regular Market Day High | 38.325 |
| Regular Market Day Low | 37.37 |
| Regular Market Day Range | 37.37 - 38.325 |
| Regular Market Open | 37.9 |
| Regular Market Previous Close | 36.64 |
| Regular Market Price | 37.38 |
| Regular Market Time | 1,792,008,000 |
| Regular Market Volume | 1,083,811 |
| Short Name | Direxion Financial Bear 3X ETF |
| Source Interval | 15 |
| Symbol | FAZ |
| Three Year Average Return | -0.4091172 |
| Total Assets | 96,294,560 |
| Tradeable | 0 |
| Trailing Peg Ratio | None |
| Trailing Three Month Nav Returns | 1.35263 |
| Trailing Three Month Returns | 1.35263 |
| Triggerable | 1 |
| Two Hundred Day Average | 40.3598 |
| Two Hundred Day Average Change | -2.9797974 |
| Two Hundred Day Average Change Percent | -0.07383083 |
| Type Disp | ETF |
| Volume | 1,083,811 |
| Yield | 0.0252 |
| Ytd Return | 5.12056 |