AMDD vs. ZIVB

Last updated Jun 24, 2026

AMDD (Direxion Daily AMD Bear 1X Shares) and ZIVB (-1x Short VIX Mid-Term Futures Strategy ETF) are both Inverse Equities funds. Both are actively managed. At a correlation of -0.15, they often move in opposite directions. AMDD charges 0.97%/yr vs 1.35%/yr for ZIVB.

Performance

AMDD vs. ZIVB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily AMD Bear 1X Shares (AMDD) and -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

AMDD

• 1D: 5.47%
• 1M: -14.63%
• YTD: -67.76%
• 6M: -67.57%
• 1Y: -83.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZIVB

• 1D: 0.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AMDD vs. ZIVB - Yearly Performance Comparison

	2026 (YTD)
AMDD Direxion Daily AMD Bear 1X Shares	-9.20%
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	33.28%

Correlation

The correlation between AMDD and ZIVB is -0.15, 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 (All Time) Calculated using the full available price history since May 28, 2026	-0.15

Return for Risk

AMDD vs. ZIVB — 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: 0

ZIVB

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

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. ZIVB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AMD Bear 1X Shares (AMDD) and -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB). 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	ZIVB	Difference
Sharpe ratio: Return per unit of total volatility	-1.24	—	—
Sortino ratio: Return per unit of downside risk	-2.77	—	—
Omega ratio: Gain probability vs. loss probability	0.65	—	—
Calmar ratio: Return relative to maximum drawdown	-1.00	—	—
Martin ratio: Return relative to average drawdown	-1.69	—	—

Drawdowns

AMDD vs. ZIVB - Drawdown Comparison

The maximum AMDD drawdown since its inception was -91.33%, which is greater than ZIVB's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for AMDD and ZIVB.

Drawdown Indicators

	AMDD	ZIVB	Difference
Max Drawdown Largest peak-to-trough decline	-91.33%	0.00%	-91.33%
Max Drawdown (1Y) Largest decline over 1 year	-83.49%	—	—
Current Drawdown Current decline from peak	-90.86%	0.00%	-90.86%
Average Drawdown Average peak-to-trough decline	-57.41%	0.00%	-57.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	51.15%	—	—

Volatility

Volatility by Period

	AMDD	ZIVB	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.12%	—	—
Volatility (6M) Calculated over the trailing 6-month period	52.50%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	67.47%	112.57%	-45.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.86%	112.57%	-45.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.86%	112.57%	-45.71%

AMDD vs. ZIVB - Expense Ratio Comparison

AMDD has a 0.97% expense ratio, which is lower than ZIVB's 1.35% expense ratio.

Dividends

AMDD vs. ZIVB - Dividend Comparison

AMDD's dividend yield for the trailing twelve months is around 19.20%, more than ZIVB's 2.37% yield.

Position	TTM	2025
AMDD Direxion Daily AMD Bear 1X Shares	19.20%	5.51%
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	2.37%	0.00%

Frequently Asked Questions

Can I hold both AMDD and ZIVB in my portfolio?

AMDD and ZIVB have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AMDD or ZIVB?

On fees, AMDD is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AMDD or ZIVB?

AMDD is cheaper with a 0.97% expense ratio, compared with 1.35% for ZIVB.

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

AMDD has the higher dividend yield at 19.20%, compared with 2.37% for ZIVB.

What is the main difference between AMDD and ZIVB?

They also come from different issuers: Direxion and Volatility Shares. Their fees differ too: 0.97% for AMDD and 1.35% for ZIVB.