AMDD vs. NVDU

Last updated Jun 4, 2026

AMDD (Direxion Daily AMD Bear 1X Shares) and NVDU (Direxion Daily NVDA Bull 2X Shares ETF) are both exchange-traded funds - AMDD is a Inverse Equities fund actively managed by Direxion, while NVDU is a Leveraged Equities fund actively managed by Direxion. Both are actively managed. Over the past year, AMDD returned -85.10% vs 84.73% for NVDU. At a correlation of -0.54, they often move in opposite directions. AMDD charges 0.97%/yr vs 1.04%/yr for NVDU.

Performance

AMDD vs. NVDU - 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 NVDA Bull 2X Shares ETF (NVDU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMDD achieves a -67.83% return, which is significantly lower than NVDU's 19.93% return.

AMDD

• 1D: -4.47%
• 1M: -41.37%
• YTD: -67.83%
• 6M: -67.43%
• 1Y: -85.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDU

• 1D: -7.30%
• 1M: 14.13%
• YTD: 19.93%
• 6M: 27.09%
• 1Y: 84.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AMDD vs. NVDU - Yearly Performance Comparison

	2026 (YTD)	2025
AMDD Direxion Daily AMD Bear 1X Shares	-67.83%	-60.76%
NVDU Direxion Daily NVDA Bull 2X Shares ETF	19.93%	52.86%

Correlation

The correlation between AMDD and NVDU is -0.46, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.46
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	-0.54

The correlation between AMDD and NVDU has been stable across timeframes, ranging from -0.54 to -0.46 - a consistent structural relationship.

Return for Risk

AMDD vs. NVDU — Risk / Return Rank

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

AMDD

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

NVDU

NVDU Risk / Return Rank: 34
NVDU Sharpe Ratio Rank: 34
NVDU Sortino Ratio Rank: 35
NVDU Omega Ratio Rank: 33
NVDU Calmar Ratio Rank: 40
NVDU Martin Ratio Rank: 31

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.

AMDD vs. NVDU - 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 NVDA Bull 2X Shares ETF (NVDU). 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.

	AMDD	NVDU	Difference
Sharpe ratio: Return per unit of total volatility	-1.31	1.26	-2.57
Sortino ratio: Return per unit of downside risk	-3.04	1.89	-4.93
Omega ratio: Gain probability vs. loss probability	0.61	1.23	-0.61
Calmar ratio: Return relative to maximum drawdown	-1.00	2.02	-3.01
Martin ratio: Return relative to average drawdown	-1.62	4.60	-6.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AMDD vs. NVDU - Sharpe Ratio Comparison

The current AMDD Sharpe Ratio is -1.31, which is lower than the NVDU Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of AMDD and NVDU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AMDD	NVDU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.31	1.26	-2.57
Sharpe Ratio (All Time) Calculated using the full available price history	-1.21	1.14	-2.35

Drawdowns

AMDD vs. NVDU - Drawdown Comparison

The maximum AMDD drawdown since its inception was -90.88%, which is greater than NVDU's maximum drawdown of -67.27%. Use the drawdown chart below to compare losses from any high point for AMDD and NVDU.

Drawdown Indicators

	AMDD	NVDU	Difference
Max Drawdown Largest peak-to-trough decline	-90.88%	-67.27%	-23.61%
Max Drawdown (1Y) Largest decline over 1 year	-85.34%	-42.27%	-43.07%
Current Drawdown Current decline from peak	-90.88%	-18.32%	-72.56%
Average Drawdown Average peak-to-trough decline	-56.26%	-18.84%	-37.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	52.65%	18.47%	+34.18%

Volatility

AMDD vs. NVDU - Volatility Comparison

Direxion Daily AMD Bear 1X Shares (AMDD) has a higher volatility of 27.50% compared to Direxion Daily NVDA Bull 2X Shares ETF (NVDU) at 24.74%. This indicates that AMDD's price experiences larger fluctuations and is considered to be riskier than NVDU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMDD	NVDU	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.50%	24.74%	+2.76%
Volatility (6M) Calculated over the trailing 6-month period	48.96%	50.50%	-1.54%
Volatility (1Y) Calculated over the trailing 1-year period	64.96%	68.02%	-3.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	65.71%	91.06%	-25.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	65.71%	91.06%	-25.35%

AMDD vs. NVDU - Expense Ratio Comparison

AMDD has a 0.97% expense ratio, which is lower than NVDU's 1.04% expense ratio.

Dividends

AMDD vs. NVDU - Dividend Comparison

AMDD's dividend yield for the trailing twelve months is around 18.24%, more than NVDU's 4.83% yield.

Position	TTM	2025	2024	2023
AMDD Direxion Daily AMD Bear 1X Shares	18.24%	5.51%	0.00%	0.00%
NVDU Direxion Daily NVDA Bull 2X Shares ETF	4.83%	5.68%	16.85%	0.63%

Frequently Asked Questions

Can I hold both AMDD and NVDU in my portfolio?

AMDD and NVDU have a correlation of -0.46, 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 NVDU?

AMDD has higher volatility (27.50%) compared to NVDU (24.74%). In terms of maximum drawdown, AMDD dropped -90.88% vs NVDU's -67.27%.

Which ETF is better, AMDD or NVDU?

On 1-year performance, NVDU leads with 84.73% vs -85.10% for AMDD. On fees, AMDD is cheaper at 0.97% per year. On volatility, NVDU has been the lower-risk option at 24.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMDD or NVDU?

Over the 1-year period, NVDU has performed better with a 84.73% return vs -85.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMDD or NVDU?

AMDD is cheaper with a 0.97% expense ratio, compared with 1.04% for NVDU.

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

AMDD has the higher dividend yield at 18.24%, compared with 4.83% for NVDU.

What is the main difference between AMDD and NVDU?

AMDD is categorized as Inverse Equities, while NVDU is Leveraged Equities. Their fees differ too: 0.97% for AMDD and 1.04% for NVDU.

Which has better risk-adjusted returns?

NVDU currently has the higher Sharpe Ratio (1.26 vs -1.31), 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.