AMUU vs. TNA

Last updated Aug 4, 2026

AMUU (Direxion Daily AMD Bull 2X Shares) and TNA (Direxion Daily Small Cap Bull 3X Shares) are both Leveraged Equities funds from Direxion. AMUU is actively managed, while TNA is passively managed. Over the past year, AMUU returned 341.42% vs 119.05% for TNA. Their 0.55 correlation means they have sometimes moved together and sometimes differently. AMUU charges 0.97%/yr vs 1.05%/yr for TNA.

Performance

AMUU vs. TNA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily AMD Bull 2X Shares (AMUU) and Direxion Daily Small Cap Bull 3X Shares (TNA). 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 TNA's 56.19% return.

AMUU

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

TNA

• 1D: 5.04%
• 1M: -2.54%
• 6M: 31.47%
• YTD: 56.19%
• 1Y: 119.05%
• 3Y*: 23.49%
• 5Y*: -2.29%
• 10Y*: 6.91%
• ALL TIME*: 14.63%

*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
TNA Direxion Daily Small Cap Bull 3X Shares	$289.87M	$297.37M	$409.17M

AMUU vs. TNA - Yearly Performance Comparison

	2026 (YTD)	2025
AMUU Direxion Daily AMD Bull 2X Shares	246.53%	153.20%
TNA Direxion Daily Small Cap Bull 3X Shares	56.19%	5.25%

Correlation

The correlation between AMUU and TNA is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	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	0.55

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

AMUU vs. TNA - Sectors Allocation Comparison

Sectors	AMUU	TNA
Technology	100.0%	14.8%
Basic Materials	-	4.4%
Communication Services	-	2.2%
Consumer Cyclical	-	9.2%
Consumer Defensive	-	2.6%
Energy	-	5.5%
Financial Services	-	17.5%
Healthcare	-	20.3%
Industrials	-	14.2%
Real Estate	-	6.6%
Utilities	-	2.7%

Return for Risk

AMUU vs. TNA — 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

TNA

TNA Risk / Return Rank: 82
TNA Sharpe Ratio Rank: 86
TNA Sortino Ratio Rank: 78
TNA Omega Ratio Rank: 71
TNA Calmar Ratio Rank: 88
TNA Martin Ratio Rank: 85

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. TNA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AMD Bull 2X Shares (AMUU) and Direxion Daily Small Cap Bull 3X Shares (TNA). 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	TNA	Difference
Sharpe ratio: Return per unit of total volatility	2.42	2.08	+0.34
Sortino ratio: Return per unit of downside risk	2.96	2.57	+0.39
Omega ratio: Gain probability vs. loss probability	1.37	1.30	+0.06
Calmar ratio: Return relative to maximum drawdown	6.11	3.68	+2.43
Martin ratio: Return relative to average drawdown	11.49	12.08	-0.59

AMUU vs. TNA - Sharpe Ratio Comparison

The current AMUU Sharpe Ratio is 2.42, which is comparable to the TNA Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of AMUU and TNA, 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. TNA - Drawdown Comparison

The maximum AMUU drawdown since its inception was -56.47%, smaller than the maximum TNA drawdown of -88.09%. Use the drawdown chart below to compare losses from any high point for AMUU and TNA.

Drawdown Indicators

	AMUU	TNA	Difference
Max Drawdown Largest peak-to-trough decline	-56.47%	-88.09%	+31.62%
Max Drawdown (1Y) Largest decline over 1 year	-56.31%	-32.53%	-23.78%
Max Drawdown (3Y) Largest decline over 3 years	—	-65.78%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-82.36%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-88.09%	—
Current Drawdown Current decline from peak	-35.02%	-33.94%	-1.08%
Average Drawdown Average peak-to-trough decline	-22.32%	-33.92%	+11.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.89%	9.89%	+20.00%

Volatility

AMUU vs. TNA - Volatility Comparison

Direxion Daily AMD Bull 2X Shares (AMUU) has a higher volatility of 48.01% compared to Direxion Daily Small Cap Bull 3X Shares (TNA) at 12.47%. This indicates that AMUU's price experiences larger fluctuations and is considered to be riskier than TNA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMUU	TNA	Difference
Volatility (1M) Calculated over the trailing 1-month period	48.01%	12.47%	+35.54%
Volatility (6M) Calculated over the trailing 6-month period	111.35%	42.13%	+69.22%
Volatility (1Y) Calculated over the trailing 1-year period	142.53%	57.70%	+84.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	135.84%	67.24%	+68.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	135.84%	68.38%	+67.46%

AMUU vs. TNA - Expense Ratio Comparison

AMUU has a 0.97% expense ratio, which is lower than TNA's 1.05% expense ratio.

Dividends

AMUU vs. TNA - Dividend Comparison

AMUU's dividend yield for the trailing twelve months is around 4.34%, more than TNA's 0.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMUU Direxion Daily AMD Bull 2X Shares	4.34%	13.58%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TNA Direxion Daily Small Cap Bull 3X Shares	0.30%	0.78%	0.93%	1.27%	0.31%	0.06%	0.03%	0.44%	0.36%	0.15%

Frequently Asked Questions

Can I hold both AMUU and TNA in my portfolio?

AMUU and TNA 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, AMUU or TNA?

AMUU has higher volatility (48.01%) compared to TNA (12.47%). In terms of maximum drawdown, AMUU dropped -56.47% vs TNA's -88.09%.

Which ETF is better, AMUU or TNA?

On 1-year performance, AMUU leads with 341.42% vs 119.05% for TNA. On fees, AMUU is cheaper at 0.97% per year. On volatility, TNA has been the lower-risk option at 12.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMUU or TNA?

Over the 1-year period, AMUU has performed better with a 341.42% return vs 119.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMUU or TNA?

AMUU is cheaper with a 0.97% expense ratio, compared with 1.05% for TNA.

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

AMUU has the higher dividend yield at 4.34%, compared with 0.30% for TNA.

What is the main difference between AMUU and TNA?

Their fees differ too: 0.97% for AMUU and 1.05% for TNA.

Which has better risk-adjusted returns?

AMUU currently has the higher Sharpe Ratio (2.42 vs 2.08), 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.