AMDD vs. SPUU
AMDD (Direxion Daily AMD Bear 1X Shares) and SPUU (Direxion Daily S&P 500 Bull 2X ETF) are both exchange-traded funds - AMDD is a Inverse Equities fund actively managed by Direxion, while SPUU is a Leveraged Equities fund tracking the S&P 500 Index (200% Daily). AMDD is actively managed, while SPUU is passively managed. Over the past year, AMDD returned -77.50% vs 42.24% for SPUU. Their -0.61 correlation means they have often moved in opposite directions in the past. AMDD charges 0.97%/yr vs 0.60%/yr for SPUU.
Performance
AMDD vs. SPUU - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, AMDD achieves a -67.52% return, which is significantly lower than SPUU's 20.19% return.
AMDD
- 1D
- -1.64%
- 1M
- 1.07%
- 6M
- -61.99%
- YTD
- -67.52%
- 1Y
- -77.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -75.52%
SPUU
- 1D
- 2.97%
- 1M
- 3.22%
- 6M
- 15.98%
- YTD
- 20.19%
- 1Y
- 42.24%
- 3Y*
- 34.65%
- 5Y*
- 18.35%
- 10Y*
- 23.85%
- ALL TIME*
- 21.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $19.29M | $38.66M | $56.16M | |
| $4.50M | $4.98M | $4.51M |
AMDD vs. SPUU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
AMDD Direxion Daily AMD Bear 1X Shares | -67.52% | -61.12% |
SPUU Direxion Daily S&P 500 Bull 2X ETF | 20.19% | 19.80% |
Correlation
The correlation between AMDD and SPUU is -0.60, 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. | -0.60 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2025 | -0.61 |
The correlation between AMDD and SPUU has been stable across timeframes, ranging from -0.61 to -0.60 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AMDD vs. SPUU — Risk / Return Rank
AMDD
SPUU
AMDD vs. SPUU - 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 S&P 500 Bull 2X ETF (SPUU). 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 | SPUU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.73 | ||
| Sortino ratioReturn per unit of downside risk | -4.30 | ||
| Omega ratioGain probability vs. loss probability | 0.74 | 1.28 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | 2.33 | -3.28 |
| Martin ratioReturn relative to average drawdown | -1.52 | 9.41 | -10.93 |
Loading charts...
Drawdowns
AMDD vs. SPUU - Drawdown Comparison
The maximum AMDD drawdown since its inception was -91.84%, which is greater than SPUU's maximum drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for AMDD and SPUU.
Loading charts...
Drawdown Indicators
| AMDD | SPUU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.84% | -59.35% | -32.49% |
Max Drawdown (1Y)Largest decline over 1 year | -82.18% | -18.19% | -63.99% |
Max Drawdown (3Y)Largest decline over 3 years | — | -35.18% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -46.59% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -59.35% | — |
Current DrawdownCurrent decline from peak | -90.79% | -0.97% | -89.82% |
Average DrawdownAverage peak-to-trough decline | -59.97% | -9.43% | -50.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 51.11% | 4.50% | +46.61% |
Volatility
AMDD vs. SPUU - Volatility Comparison
Direxion Daily AMD Bear 1X Shares (AMDD) has a higher volatility of 25.42% compared to Direxion Daily S&P 500 Bull 2X ETF (SPUU) at 7.66%. This indicates that AMDD's price experiences larger fluctuations and is considered to be riskier than SPUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| AMDD | SPUU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.42% | 7.66% | +17.76% |
Volatility (6M)Calculated over the trailing 6-month period | 57.49% | 20.55% | +36.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 71.65% | 25.83% | +45.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.16% | 33.73% | +34.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 68.16% | 35.81% | +32.35% |
AMDD vs. SPUU - Expense Ratio Comparison
AMDD has a 0.97% expense ratio, which is higher than SPUU's 0.60% expense ratio.
Dividends
AMDD vs. SPUU - Dividend Comparison
AMDD's dividend yield for the trailing twelve months is around 13.33%, more than SPUU's 1.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMDD Direxion Daily AMD Bear 1X Shares | 13.33% | 5.51% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPUU Direxion Daily S&P 500 Bull 2X ETF | 1.31% | 1.63% | 0.55% | 0.83% | 0.88% | 3.04% | 8.03% | 1.80% | 5.50% | 6.96% | 8.08% | 4.42% |
Frequently Asked Questions
AMDD and SPUU have a correlation of -0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AMDD has higher volatility (25.42%) compared to SPUU (7.66%). In terms of maximum drawdown, AMDD dropped -91.84% vs SPUU's -59.35%.
On 1-year performance, SPUU leads with 42.24% vs -77.50% for AMDD. On fees, SPUU is cheaper at 0.60% per year. On volatility, SPUU has been the lower-risk option at 7.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPUU has performed better with a 42.24% return vs -77.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPUU is cheaper with a 0.60% expense ratio, compared with 0.97% for AMDD.
AMDD has the higher dividend yield at 13.33%, compared with 1.31% for SPUU.
AMDD is categorized as Inverse Equities, while SPUU is Leveraged Equities. Their fees differ too: 0.97% for AMDD and 0.60% for SPUU.
SPUU currently has the higher Sharpe Ratio (1.65 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.
Find the right allocation for AMDD and SPUU
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer