AMUU vs. IBMT

Last updated Aug 4, 2026

AMUU (Direxion Daily AMD Bull 2X Shares) and IBMT (iShares iBonds Dec 2031 Term Muni Bond ETF) are both exchange-traded funds - AMUU is a Leveraged Equities fund actively managed by Direxion, while IBMT is a Municipal Bonds fund tracking the S&P AMT-Free Municipal Series Dec 2031 Index. AMUU is actively managed, while IBMT is passively managed. Over the past year, AMUU returned 341.42% vs 3.31% for IBMT. Their 0.05 correlation means their historical movements had little consistent relationship. AMUU charges 0.97%/yr vs 0.18%/yr for IBMT.

Performance

AMUU vs. IBMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily AMD Bull 2X Shares (AMUU) and iShares iBonds Dec 2031 Term Muni Bond ETF (IBMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMUU achieves a 246.53% return, which is significantly higher than IBMT's 0.60% return.

AMUU

• 1D: 2.97%
• 1M: -18.43%
• 6M: 170.23%
• YTD: 246.53%
• 1Y: 341.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 338.06%

IBMT

• 1D: 0.22%
• 1M: -0.95%
• 6M: -0.35%
• YTD: 0.60%
• 1Y: 3.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.77%

*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)
AMUU Direxion Daily AMD Bull 2X Shares	$20.32M	$21.75M	$27.81M
IBMT iShares iBonds Dec 2031 Term Muni Bond ETF	$1.19M	$1.36M	$1.13M

AMUU vs. IBMT - Yearly Performance Comparison

	2026 (YTD)	2025
AMUU Direxion Daily AMD Bull 2X Shares	246.53%	140.08%
IBMT iShares iBonds Dec 2031 Term Muni Bond ETF	0.60%	7.26%

Correlation

The correlation between AMUU and IBMT is 0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.06
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025	0.05

Return for Risk

AMUU vs. IBMT — Risk / Return Rank

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

AMUU

AMUU Risk / Return Rank: 87
AMUU Sharpe Ratio Rank: 91
AMUU Sortino Ratio Rank: 86
AMUU Omega Ratio Rank: 82
AMUU Calmar Ratio Rank: 96
AMUU Martin Ratio Rank: 82

IBMT

IBMT Risk / Return Rank: 38
IBMT Sharpe Ratio Rank: 40
IBMT Sortino Ratio Rank: 43
IBMT Omega Ratio Rank: 45
IBMT Calmar Ratio Rank: 31
IBMT Martin Ratio Rank: 30

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.

AMUU vs. IBMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AMD Bull 2X Shares (AMUU) and iShares iBonds Dec 2031 Term Muni Bond ETF (IBMT). 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.

	AMUU	IBMT	Difference
Sharpe ratio: Return per unit of total volatility	2.42	1.11	+1.31
Sortino ratio: Return per unit of downside risk	2.96	1.72	+1.23
Omega ratio: Gain probability vs. loss probability	1.37	1.23	+0.14
Calmar ratio: Return relative to maximum drawdown	6.11	1.07	+5.04
Martin ratio: Return relative to average drawdown	11.49	2.95	+8.53

AMUU vs. IBMT - Sharpe Ratio Comparison

The current AMUU Sharpe Ratio is 2.42, which is higher than the IBMT Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of AMUU and IBMT, 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

AMUU vs. IBMT - Drawdown Comparison

The maximum AMUU drawdown since its inception was -56.47%, which is greater than IBMT's maximum drawdown of -3.18%. Use the drawdown chart below to compare losses from any high point for AMUU and IBMT.

Drawdown Indicators

	AMUU	IBMT	Difference
Max Drawdown Largest peak-to-trough decline	-56.47%	-3.18%	-53.29%
Max Drawdown (1Y) Largest decline over 1 year	-56.31%	-3.10%	-53.21%
Current Drawdown Current decline from peak	-35.02%	-1.26%	-33.76%
Average Drawdown Average peak-to-trough decline	-22.32%	-0.76%	-21.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.89%	1.12%	+28.77%

Volatility

AMUU vs. IBMT - Volatility Comparison

Direxion Daily AMD Bull 2X Shares (AMUU) has a higher volatility of 48.01% compared to iShares iBonds Dec 2031 Term Muni Bond ETF (IBMT) at 0.69%. This indicates that AMUU's price experiences larger fluctuations and is considered to be riskier than IBMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMUU	IBMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	48.01%	0.69%	+47.32%
Volatility (6M) Calculated over the trailing 6-month period	111.35%	2.38%	+108.97%
Volatility (1Y) Calculated over the trailing 1-year period	142.53%	3.00%	+139.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	135.84%	3.84%	+132.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	135.84%	3.84%	+132.00%

AMUU vs. IBMT - Expense Ratio Comparison

AMUU has a 0.97% expense ratio, which is higher than IBMT's 0.18% expense ratio.

Dividends

AMUU vs. IBMT - Dividend Comparison

AMUU's dividend yield for the trailing twelve months is around 4.34%, more than IBMT's 3.44% yield.

Position	TTM	2025
AMUU Direxion Daily AMD Bull 2X Shares	4.34%	13.58%
IBMT iShares iBonds Dec 2031 Term Muni Bond ETF	3.44%	2.98%

Frequently Asked Questions

Can I hold both AMUU and IBMT in my portfolio?

AMUU and IBMT have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMUU or IBMT?

AMUU has higher volatility (48.01%) compared to IBMT (0.69%). In terms of maximum drawdown, AMUU dropped -56.47% vs IBMT's -3.18%.

Which ETF is better, AMUU or IBMT?

On 1-year performance, AMUU leads with 341.42% vs 3.31% for IBMT. On fees, IBMT is cheaper at 0.18% per year. On volatility, IBMT has been the lower-risk option at 0.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMUU or IBMT?

Over the 1-year period, AMUU has performed better with a 341.42% return vs 3.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMUU or IBMT?

IBMT is cheaper with a 0.18% expense ratio, compared with 0.97% for AMUU.

Which ETF pays a higher dividend yield, AMUU or IBMT?

AMUU has the higher dividend yield at 4.34%, compared with 3.44% for IBMT.

What is the main difference between AMUU and IBMT?

AMUU is categorized as Leveraged Equities, while IBMT is Municipal Bonds. They also come from different issuers: Direxion and iShares. Their fees differ too: 0.97% for AMUU and 0.18% for IBMT.

Which has better risk-adjusted returns?

AMUU currently has the higher Sharpe Ratio (2.42 vs 1.11), 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.