AMDD vs. MUU

Last updated Aug 4, 2026

AMDD (Direxion Daily AMD Bear 1X Shares) and MUU (Direxion Daily MU Bull 2X Shares) are both exchange-traded funds - AMDD is a Inverse Equities fund actively managed by Direxion, while MUU is a Leveraged Equities fund tracking the Micron Technology, Inc. (200% Daily). AMDD is actively managed, while MUU is passively managed. Over the past year, AMDD returned -77.50% vs 2844.73% for MUU. Their -0.57 correlation means they have often moved in opposite directions in the past. AMDD charges 0.97%/yr vs 1.01%/yr for MUU.

Performance

AMDD vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily AMD Bear 1X Shares (AMDD) and Direxion Daily MU Bull 2X Shares (MUU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMDD achieves a -67.52% return, which is significantly lower than MUU's 378.90% return.

AMDD

• 1D: -1.64%
• 1M: 1.07%
• 6M: -61.99%
• YTD: -67.52%
• 1Y: -77.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -75.52%

MUU

• 1D: 1.35%
• 1M: -35.62%
• 6M: 114.51%
• YTD: 378.90%
• 1Y: 2,844.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 419.02%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AMDD Direxion Daily AMD Bear 1X Shares	$19.29M	$38.66M	$56.16M
MUU Direxion Daily MU Bull 2X Shares	$1.54B	$1.50B	$2.29B

AMDD vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025
AMDD Direxion Daily AMD Bear 1X Shares	-67.52%	-61.12%
MUU Direxion Daily MU Bull 2X Shares	378.90%	492.59%

Correlation

The correlation between AMDD and MUU is -0.55, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.55
Correlation (All Time) Calculated using the full available price history since Feb 12, 2025	-0.57

The correlation between AMDD and MUU has been stable across timeframes, ranging from -0.57 to -0.55 - a consistent structural relationship.

Return for Risk

AMDD vs. MUU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AMDD

AMDD Risk / Return Rank: 1
AMDD Sharpe Ratio Rank: 1
AMDD Sortino Ratio Rank: 0
AMDD Omega Ratio Rank: 0
AMDD Calmar Ratio Rank: 1
AMDD Martin Ratio Rank: 1

MUU

MUU Risk / Return Rank: 98
MUU Sharpe Ratio Rank: 100
MUU Sortino Ratio Rank: 97
MUU Omega Ratio Rank: 96
MUU Calmar Ratio Rank: 99
MUU Martin Ratio Rank: 99

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AMDD vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AMD Bear 1X Shares (AMDD) and Direxion Daily MU Bull 2X Shares (MUU). 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	MUU	Difference
Sharpe ratio: Return per unit of total volatility	-1.09	17.89	-18.98
Sortino ratio: Return per unit of downside risk	-2.11	4.98	-7.09
Omega ratio: Gain probability vs. loss probability	0.74	1.63	-0.89
Calmar ratio: Return relative to maximum drawdown	-0.94	42.38	-43.32
Martin ratio: Return relative to average drawdown	-1.52	138.45	-139.97

AMDD vs. MUU - Sharpe Ratio Comparison

The current AMDD Sharpe Ratio is -1.09, which is lower than the MUU Sharpe Ratio of 17.89. The chart below compares the historical Sharpe Ratios of AMDD and MUU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AMDD vs. MUU - Drawdown Comparison

The maximum AMDD drawdown since its inception was -91.84%, which is greater than MUU's maximum drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for AMDD and MUU.

Drawdown Indicators

	AMDD	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-91.84%	-75.07%	-16.77%
Max Drawdown (1Y) Largest decline over 1 year	-82.18%	-68.07%	-14.11%
Current Drawdown Current decline from peak	-90.79%	-60.98%	-29.81%
Average Drawdown Average peak-to-trough decline	-59.97%	-24.42%	-35.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	51.11%	20.79%	+30.32%

Volatility

AMDD vs. MUU - Volatility Comparison

The current volatility for Direxion Daily AMD Bear 1X Shares (AMDD) is 25.42%, while Direxion Daily MU Bull 2X Shares (MUU) has a volatility of 61.31%. This indicates that AMDD experiences smaller price fluctuations and is considered to be less risky than MUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMDD	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.42%	61.31%	-35.89%
Volatility (6M) Calculated over the trailing 6-month period	57.49%	133.76%	-76.27%
Volatility (1Y) Calculated over the trailing 1-year period	71.65%	161.53%	-89.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.16%	146.55%	-78.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.16%	146.55%	-78.39%

AMDD vs. MUU - Expense Ratio Comparison

AMDD has a 0.97% expense ratio, which is lower than MUU's 1.01% expense ratio.

Dividends

AMDD vs. MUU - Dividend Comparison

AMDD's dividend yield for the trailing twelve months is around 13.33%, more than MUU's 1.42% yield.

Position	TTM	2025	2024
AMDD Direxion Daily AMD Bear 1X Shares	13.33%	5.51%	0.00%
MUU Direxion Daily MU Bull 2X Shares	1.42%	4.27%	0.31%

Frequently Asked Questions

Can I hold both AMDD and MUU in my portfolio?

AMDD and MUU have a correlation of -0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMDD or MUU?

MUU has higher volatility (61.31%) compared to AMDD (25.42%). In terms of maximum drawdown, AMDD dropped -91.84% vs MUU's -75.07%.

Which ETF is better, AMDD or MUU?

On 1-year performance, MUU leads with 2844.73% vs -77.50% for AMDD. On fees, AMDD is cheaper at 0.97% per year. On volatility, AMDD has been the lower-risk option at 25.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMDD or MUU?

Over the 1-year period, MUU has performed better with a 2844.73% return vs -77.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMDD or MUU?

AMDD is cheaper with a 0.97% expense ratio, compared with 1.01% for MUU.

Which ETF pays a higher dividend yield, AMDD or MUU?

AMDD has the higher dividend yield at 13.33%, compared with 1.42% for MUU.

What is the main difference between AMDD and MUU?

AMDD is categorized as Inverse Equities, while MUU is Leveraged Equities. Their fees differ too: 0.97% for AMDD and 1.01% for MUU.

Which has better risk-adjusted returns?

MUU currently has the higher Sharpe Ratio (17.89 vs -1.09), 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.