AMZD vs. AMZW

Last updated Aug 2, 2026

AMZD (Direxion Daily AMZN Bear 1X Shares) and AMZW (Roundhill AMZN WeeklyPay ETF) are both exchange-traded funds - AMZD is a Inverse Equities fund tracking the Amazon.com, Inc. (-100%), while AMZW is a Derivative Income fund actively managed by Roundhill. AMZD is passively managed, while AMZW is actively managed. Over the past year, AMZD returned -25.04% vs 25.64% for AMZW. Their -0.99 correlation means they have often moved in opposite directions in the past. AMZD charges 1.09%/yr vs 0.99%/yr for AMZW.

Performance

AMZD vs. AMZW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily AMZN Bear 1X Shares (AMZD) and Roundhill AMZN WeeklyPay ETF (AMZW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMZD achieves a -18.67% return, which is significantly lower than AMZW's 18.02% return.

AMZD

• 1D: -15.20%
• 1M: -13.01%
• 6M: -15.74%
• YTD: -18.67%
• 1Y: -25.04%
• 3Y*: -24.09%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -21.25%

AMZW

• 1D: 18.15%
• 1M: 13.81%
• 6M: 13.42%
• YTD: 18.02%
• 1Y: 25.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 23.57%

*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)
AMZD Direxion Daily AMZN Bear 1X Shares	$135.48M	$132.64M	$131.29M
AMZW Roundhill AMZN WeeklyPay ETF	$728.39K	$587.12K	$751.31K

AMZD vs. AMZW - Yearly Performance Comparison

	2026 (YTD)	2025
AMZD Direxion Daily AMZN Bear 1X Shares	-18.67%	-8.29%
AMZW Roundhill AMZN WeeklyPay ETF	18.02%	7.33%

Correlation

The correlation between AMZD and AMZW is -0.99, 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.	-0.99
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	-0.99

The correlation between AMZD and AMZW has been stable across timeframes, ranging from -0.99 to -0.99 - a consistent structural relationship.

Return for Risk

AMZD vs. AMZW — Risk / Return Rank

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

AMZD

AMZD Risk / Return Rank: 4
AMZD Sharpe Ratio Rank: 5
AMZD Sortino Ratio Rank: 5
AMZD Omega Ratio Rank: 5
AMZD Calmar Ratio Rank: 4
AMZD Martin Ratio Rank: 1

AMZW

AMZW Risk / Return Rank: 20
AMZW Sharpe Ratio Rank: 18
AMZW Sortino Ratio Rank: 22
AMZW Omega Ratio Rank: 22
AMZW Calmar Ratio Rank: 20
AMZW Martin Ratio Rank: 18

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.

AMZD vs. AMZW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AMZN Bear 1X Shares (AMZD) and Roundhill AMZN WeeklyPay ETF (AMZW). 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.

	AMZD	AMZW	Difference
Sharpe ratio: Return per unit of total volatility	-0.54	0.32	-0.86
Sortino ratio: Return per unit of downside risk	-0.55	0.80	-1.35
Omega ratio: Gain probability vs. loss probability	0.93	1.10	-0.17
Calmar ratio: Return relative to maximum drawdown	-0.65	0.51	-1.16
Martin ratio: Return relative to average drawdown	-1.37	1.06	-2.43

AMZD vs. AMZW - Sharpe Ratio Comparison

The current AMZD Sharpe Ratio is -0.54, which is lower than the AMZW Sharpe Ratio of 0.32. The chart below compares the historical Sharpe Ratios of AMZD and AMZW, 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

AMZD vs. AMZW - Drawdown Comparison

The maximum AMZD drawdown since its inception was -73.54%, which is greater than AMZW's maximum drawdown of -26.79%. Use the drawdown chart below to compare losses from any high point for AMZD and AMZW.

Drawdown Indicators

	AMZD	AMZW	Difference
Max Drawdown Largest peak-to-trough decline	-73.54%	-26.79%	-46.75%
Max Drawdown (1Y) Largest decline over 1 year	-29.56%	-26.79%	-2.77%
Max Drawdown (3Y) Largest decline over 3 years	-59.93%	—	—
Current Drawdown Current decline from peak	-73.54%	-2.81%	-70.73%
Average Drawdown Average peak-to-trough decline	-49.89%	-9.73%	-40.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.01%	12.88%	+1.13%

Volatility

AMZD vs. AMZW - Volatility Comparison

The current volatility for Direxion Daily AMZN Bear 1X Shares (AMZD) is 18.51%, while Roundhill AMZN WeeklyPay ETF (AMZW) has a volatility of 19.61%. This indicates that AMZD experiences smaller price fluctuations and is considered to be less risky than AMZW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMZD	AMZW	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.51%	19.61%	-1.10%
Volatility (6M) Calculated over the trailing 6-month period	27.88%	31.80%	-3.92%
Volatility (1Y) Calculated over the trailing 1-year period	35.31%	42.59%	-7.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.25%	40.99%	-6.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.25%	40.99%	-6.74%

AMZD vs. AMZW - Expense Ratio Comparison

AMZD has a 1.09% expense ratio, which is higher than AMZW's 0.99% expense ratio.

Dividends

AMZD vs. AMZW - Dividend Comparison

AMZD's dividend yield for the trailing twelve months is around 3.81%, less than AMZW's 40.59% yield.

Position	TTM	2025	2024	2023	2022
AMZD Direxion Daily AMZN Bear 1X Shares	3.81%	3.61%	5.15%	6.83%	2.45%
AMZW Roundhill AMZN WeeklyPay ETF	40.59%	25.29%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AMZD and AMZW in my portfolio?

AMZD and AMZW have a correlation of -0.99, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMZD or AMZW?

AMZW has higher volatility (19.61%) compared to AMZD (18.51%). In terms of maximum drawdown, AMZD dropped -73.54% vs AMZW's -26.79%.

Which ETF is better, AMZD or AMZW?

On 1-year performance, AMZW leads with 25.64% vs -25.04% for AMZD. On fees, AMZW is cheaper at 0.99% per year. On volatility, AMZD has been the lower-risk option at 18.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMZD or AMZW?

Over the 1-year period, AMZW has performed better with a 25.64% return vs -25.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMZD or AMZW?

AMZW is cheaper with a 0.99% expense ratio, compared with 1.09% for AMZD.

Which ETF pays a higher dividend yield, AMZD or AMZW?

AMZW has the higher dividend yield at 40.59%, compared with 3.81% for AMZD.

What is the main difference between AMZD and AMZW?

AMZD is categorized as Inverse Equities, while AMZW is Derivative Income. They also come from different issuers: Direxion and Roundhill. Their fees differ too: 1.09% for AMZD and 0.99% for AMZW.

Which has better risk-adjusted returns?

AMZW currently has the higher Sharpe Ratio (0.32 vs -0.54), 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.