AMZD vs. AMZY

Last updated Aug 2, 2026

AMZD (Direxion Daily AMZN Bear 1X Shares) and AMZY (YieldMax AMZN Option Income Strategy ETF) are both exchange-traded funds - AMZD is a Inverse Equities fund tracking the Amazon.com, Inc. (-100%), while AMZY is a Derivative Income fund actively managed by YieldMax. AMZD is passively managed, while AMZY is actively managed. Over the past 3 years, AMZD returned -24.09%/yr vs 24.27%/yr for AMZY. Their -0.97 correlation means they have often moved in opposite directions in the past. Both charge a 1.09% expense ratio.

Performance

AMZD vs. AMZY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily AMZN Bear 1X Shares (AMZD) and YieldMax AMZN Option Income Strategy ETF (AMZY). 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 AMZY's 10.52% 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%

AMZY

• 1D: 12.51%
• 1M: 10.78%
• 6M: 8.94%
• YTD: 10.52%
• 1Y: 17.47%
• 3Y*: 24.27%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 24.73%

*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
AMZY YieldMax AMZN Option Income Strategy ETF	$3.19M	$2.74M	$4.75M

AMZD vs. AMZY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AMZD Direxion Daily AMZN Bear 1X Shares	-18.67%	-9.84%	-30.80%	-15.63%
AMZY YieldMax AMZN Option Income Strategy ETF	10.52%	10.39%	35.28%	18.03%

Correlation

The correlation between AMZD and AMZY is -0.98, 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.	-0.98
Correlation (3Y) Balances recent behavior with more history.	-0.97
Correlation (All Time) Calculated using the full available price history since Jul 25, 2023	-0.97

The correlation between AMZD and AMZY has been stable across timeframes, ranging from -0.98 to -0.97 - a consistent structural relationship.

Return for Risk

AMZD vs. AMZY — 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

AMZY

AMZY Risk / Return Rank: 19
AMZY Sharpe Ratio Rank: 18
AMZY Sortino Ratio Rank: 20
AMZY Omega Ratio Rank: 21
AMZY Calmar Ratio Rank: 19
AMZY 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. AMZY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AMZN Bear 1X Shares (AMZD) and YieldMax AMZN Option Income Strategy ETF (AMZY). 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	AMZY	Difference
Sharpe ratio: Return per unit of total volatility	-0.54	0.34	-0.88
Sortino ratio: Return per unit of downside risk	-0.55	0.69	-1.24
Omega ratio: Gain probability vs. loss probability	0.93	1.09	-0.16
Calmar ratio: Return relative to maximum drawdown	-0.65	0.48	-1.13
Martin ratio: Return relative to average drawdown	-1.37	1.06	-2.43

AMZD vs. AMZY - Sharpe Ratio Comparison

The current AMZD Sharpe Ratio is -0.54, which is lower than the AMZY Sharpe Ratio of 0.34. The chart below compares the historical Sharpe Ratios of AMZD and AMZY, 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. AMZY - Drawdown Comparison

The maximum AMZD drawdown since its inception was -73.54%, which is greater than AMZY's maximum drawdown of -23.70%. Use the drawdown chart below to compare losses from any high point for AMZD and AMZY.

Drawdown Indicators

	AMZD	AMZY	Difference
Max Drawdown Largest peak-to-trough decline	-73.54%	-23.70%	-49.84%
Max Drawdown (1Y) Largest decline over 1 year	-29.56%	-19.61%	-9.95%
Max Drawdown (3Y) Largest decline over 3 years	-59.93%	-23.70%	-36.23%
Current Drawdown Current decline from peak	-73.54%	-1.31%	-72.23%
Average Drawdown Average peak-to-trough decline	-49.89%	-5.58%	-44.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.01%	8.94%	+5.07%

Volatility

AMZD vs. AMZY - Volatility Comparison

Direxion Daily AMZN Bear 1X Shares (AMZD) has a higher volatility of 18.51% compared to YieldMax AMZN Option Income Strategy ETF (AMZY) at 13.48%. This indicates that AMZD's price experiences larger fluctuations and is considered to be riskier than AMZY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMZD	AMZY	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.51%	13.48%	+5.03%
Volatility (6M) Calculated over the trailing 6-month period	27.88%	21.27%	+6.61%
Volatility (1Y) Calculated over the trailing 1-year period	35.31%	27.98%	+7.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.25%	26.08%	+8.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.25%	26.08%	+8.17%

AMZD vs. AMZY - Expense Ratio Comparison

Both AMZD and AMZY have an expense ratio of 1.09%.

Dividends

AMZD vs. AMZY - Dividend Comparison

AMZD's dividend yield for the trailing twelve months is around 3.81%, less than AMZY's 46.74% yield.

Position	TTM	2025	2024	2023	2022
AMZD Direxion Daily AMZN Bear 1X Shares	3.81%	3.61%	5.15%	6.83%	2.45%
AMZY YieldMax AMZN Option Income Strategy ETF	46.74%	52.59%	47.91%	9.90%	0.00%

Frequently Asked Questions

Can I hold both AMZD and AMZY in my portfolio?

AMZD and AMZY have a correlation of -0.98, 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 AMZY?

AMZD has higher volatility (18.51%) compared to AMZY (13.48%). In terms of maximum drawdown, AMZD dropped -73.54% vs AMZY's -23.70%.

Which ETF is better, AMZD or AMZY?

On 3-year performance, AMZY leads with 24.27% vs -24.09% for AMZD. Both ETFs have the same 1.09% expense ratio. On volatility, AMZY has been the lower-risk option at 13.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMZD or AMZY?

Over the 3-year period, AMZY has performed better with a 24.27% return vs -24.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMZD or AMZY?

AMZD and AMZY have the same expense ratio: 1.09% per year.

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

AMZY has the higher dividend yield at 46.74%, compared with 3.81% for AMZD.

What is the main difference between AMZD and AMZY?

AMZD is categorized as Inverse Equities, while AMZY is Derivative Income. They also come from different issuers: Direxion and YieldMax.

Which has better risk-adjusted returns?

AMZY currently has the higher Sharpe Ratio (0.34 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.