AMA vs. XMAG

Last updated Jul 1, 2026

AMA (Defiance Daily Target 2X Long AMAT ETF) and XMAG (Defiance Large Cap ex-Mag 7 ETF) are both exchange-traded funds - AMA is a Leveraged Equities fund actively managed by Defiance, while XMAG is a Large Cap Blend Equities fund tracking the BITA US 500 ex Magnificent 7 Index. AMA is actively managed, while XMAG is passively managed. A 0.78 correlation means they provide meaningful diversification when combined. AMA charges 1.29%/yr vs 0.35%/yr for XMAG.

Performance

AMA vs. XMAG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long AMAT ETF (AMA) and Defiance Large Cap ex-Mag 7 ETF (XMAG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

AMA

• 1D: 8.42%
• 1M: 136.44%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XMAG

• 1D: 0.75%
• 1M: 3.90%
• YTD: 15.55%
• 6M: 15.04%
• 1Y: 23.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AMA vs. XMAG - Yearly Performance Comparison

	2026 (YTD)
AMA Defiance Daily Target 2X Long AMAT ETF	140.44%
XMAG Defiance Large Cap ex-Mag 7 ETF	5.55%

Correlation

The correlation between AMA and XMAG is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 26, 2026	0.78

Return for Risk

AMA vs. XMAG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AMA

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

XMAG

XMAG Risk / Return Rank: 76
XMAG Sharpe Ratio Rank: 75
XMAG Sortino Ratio Rank: 77
XMAG Omega Ratio Rank: 71
XMAG Calmar Ratio Rank: 75
XMAG Martin Ratio Rank: 83

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AMA vs. XMAG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long AMAT ETF (AMA) and Defiance Large Cap ex-Mag 7 ETF (XMAG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AMA	XMAG	Difference
Sharpe ratio: Return per unit of total volatility	—	2.03	—
Sortino ratio: Return per unit of downside risk	—	2.90	—
Omega ratio: Gain probability vs. loss probability	—	1.36	—
Calmar ratio: Return relative to maximum drawdown	—	3.25	—
Martin ratio: Return relative to average drawdown	—	14.28	—

Drawdowns

AMA vs. XMAG - Drawdown Comparison

The maximum AMA drawdown since its inception was -19.35%, which is greater than XMAG's maximum drawdown of -16.17%. Use the drawdown chart below to compare losses from any high point for AMA and XMAG.

Drawdown Indicators

	AMA	XMAG	Difference
Max Drawdown Largest peak-to-trough decline	-19.35%	-16.17%	-3.18%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.29%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.68%	-2.07%	-1.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.66%	—

Volatility

Volatility by Period

	AMA	XMAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.53%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.29%	—
Volatility (1Y) Calculated over the trailing 1-year period	181.63%	11.70%	+169.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	181.63%	15.15%	+166.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	181.63%	15.15%	+166.48%

AMA vs. XMAG - Expense Ratio Comparison

AMA has a 1.29% expense ratio, which is higher than XMAG's 0.35% expense ratio.

Dividends

AMA vs. XMAG - Dividend Comparison

AMA has not paid dividends to shareholders, while XMAG's dividend yield for the trailing twelve months is around 0.45%.

Position	TTM	2025	2024
AMA Defiance Daily Target 2X Long AMAT ETF	0.00%	0.00%	0.00%
XMAG Defiance Large Cap ex-Mag 7 ETF	0.45%	0.51%	0.24%

Frequently Asked Questions

Can I hold both AMA and XMAG in my portfolio?

AMA and XMAG have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AMA or XMAG?

On fees, XMAG is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AMA or XMAG?

XMAG is cheaper with a 0.35% expense ratio, compared with 1.29% for AMA.

Which ETF pays a higher dividend yield, AMA or XMAG?

XMAG has the higher dividend yield at 0.45%, compared with 0.00% for AMA.

What is the main difference between AMA and XMAG?

AMA is categorized as Leveraged Equities, while XMAG is Large Cap Blend Equities. Their fees differ too: 1.29% for AMA and 0.35% for XMAG.