AMDD vs. FIAT
AMDD (Direxion Daily AMD Bear 1X Shares) and FIAT (YieldMax Short COIN Option Income Strategy ETF) are both exchange-traded funds - AMDD is a Inverse Equities fund actively managed by Direxion, while FIAT is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, AMDD returned -83.39% vs 25.10% for FIAT. At a 0.47 correlation, their price movements are largely independent. AMDD charges 0.97%/yr vs 0.99%/yr for FIAT.
Performance
AMDD vs. FIAT - Performance Comparison
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Returns By Period
In the year-to-date period, AMDD achieves a -67.76% return, which is significantly lower than FIAT's 16.16% return.
AMDD
- 1D
- 5.47%
- 1M
- -14.63%
- YTD
- -67.76%
- 6M
- -67.57%
- 1Y
- -83.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FIAT
- 1D
- 2.82%
- 1M
- 11.72%
- YTD
- 16.16%
- 6M
- 21.46%
- 1Y
- 25.10%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AMDD vs. FIAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
AMDD Direxion Daily AMD Bear 1X Shares | -67.76% | -61.12% |
FIAT YieldMax Short COIN Option Income Strategy ETF | 16.16% | -19.90% |
Correlation
The correlation between AMDD and FIAT is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2025 | 0.47 |
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Return for Risk
AMDD vs. FIAT — Risk / Return Rank
AMDD
FIAT
AMDD vs. FIAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AMD Bear 1X Shares (AMDD) and YieldMax Short COIN Option Income Strategy ETF (FIAT). 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.
| AMDD | FIAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.71 | ||
| Sortino ratioReturn per unit of downside risk | -3.72 | ||
| Omega ratioGain probability vs. loss probability | 0.65 | 1.13 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 0.74 | -1.74 |
| Martin ratioReturn relative to average drawdown | -1.69 | 1.60 | -3.29 |
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Drawdowns
AMDD vs. FIAT - Drawdown Comparison
The maximum AMDD drawdown since its inception was -91.33%, which is greater than FIAT's maximum drawdown of -70.50%. Use the drawdown chart below to compare losses from any high point for AMDD and FIAT.
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Drawdown Indicators
| AMDD | FIAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.33% | -70.50% | -20.83% |
Max Drawdown (1Y)Largest decline over 1 year | -83.49% | -34.22% | -49.27% |
Current DrawdownCurrent decline from peak | -90.86% | -49.94% | -40.92% |
Average DrawdownAverage peak-to-trough decline | -57.41% | -45.40% | -12.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 51.15% | 17.71% | +33.44% |
Volatility
AMDD vs. FIAT - Volatility Comparison
Direxion Daily AMD Bear 1X Shares (AMDD) has a higher volatility of 24.12% compared to YieldMax Short COIN Option Income Strategy ETF (FIAT) at 14.10%. This indicates that AMDD's price experiences larger fluctuations and is considered to be riskier than FIAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AMDD | FIAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.12% | 14.10% | +10.02% |
Volatility (6M)Calculated over the trailing 6-month period | 52.50% | 42.87% | +9.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.47% | 53.54% | +13.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 66.86% | 60.24% | +6.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.86% | 60.24% | +6.62% |
AMDD vs. FIAT - Expense Ratio Comparison
AMDD has a 0.97% expense ratio, which is lower than FIAT's 0.99% expense ratio.
Dividends
AMDD vs. FIAT - Dividend Comparison
AMDD's dividend yield for the trailing twelve months is around 19.20%, less than FIAT's 100.29% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
AMDD Direxion Daily AMD Bear 1X Shares | 19.20% | 5.51% | 0.00% |
FIAT YieldMax Short COIN Option Income Strategy ETF | 100.29% | 178.11% | 70.99% |
Frequently Asked Questions
AMDD and FIAT have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AMDD has higher volatility (24.12%) compared to FIAT (14.10%). In terms of maximum drawdown, AMDD dropped -91.33% vs FIAT's -70.50%.
On 1-year performance, FIAT leads with 25.10% vs -83.39% for AMDD. On fees, AMDD is cheaper at 0.97% per year. On volatility, FIAT has been the lower-risk option at 14.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FIAT has performed better with a 25.10% return vs -83.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AMDD is cheaper with a 0.97% expense ratio, compared with 0.99% for FIAT.
FIAT has the higher dividend yield at 100.29%, compared with 19.20% for AMDD.
AMDD is categorized as Inverse Equities, while FIAT is Derivative Income. They also come from different issuers: Direxion and YieldMax. Their fees differ too: 0.97% for AMDD and 0.99% for FIAT.
FIAT currently has the higher Sharpe Ratio (0.47 vs -1.24), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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