AMZD vs. ONEQ
AMZD (Direxion Daily AMZN Bear 1X Shares) and ONEQ (Fidelity Nasdaq Composite Index ETF) are both exchange-traded funds - AMZD is a Inverse Equities fund tracking the Amazon.com, Inc. (-100%), while ONEQ is a Large Cap Growth Equities fund tracking the Nasdaq Composite Index. Both are passively managed. Over the past 3 years, AMZD returned -20.92%/yr vs 23.06%/yr for ONEQ. At a correlation of -0.72, they often move in opposite directions. AMZD charges 1.09%/yr vs 0.21%/yr for ONEQ.
Performance
AMZD vs. ONEQ - Performance Comparison
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Returns By Period
In the year-to-date period, AMZD achieves a -9.22% return, which is significantly lower than ONEQ's 12.09% return.
AMZD
- 1D
- 2.01%
- 1M
- -1.86%
- 6M
- -6.33%
- YTD
- -9.22%
- 1Y
- -13.56%
- 3Y*
- -20.92%
- 5Y*
- —
- 10Y*
- —
ONEQ
- 1D
- -1.55%
- 1M
- -1.91%
- 6M
- 10.71%
- YTD
- 12.09%
- 1Y
- 26.00%
- 3Y*
- 23.06%
- 5Y*
- 13.59%
- 10Y*
- 18.95%
AMZD vs. ONEQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
AMZD Direxion Daily AMZN Bear 1X Shares | -9.22% | -9.84% | -30.80% | -46.50% | 45.25% |
ONEQ Fidelity Nasdaq Composite Index ETF | 12.09% | 20.89% | 29.30% | 45.73% | -9.00% |
Correlation
The correlation between AMZD and ONEQ is -0.62, 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 (1Y) Calculated over the trailing 1-year period | -0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.71 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022 | -0.72 |
The correlation between AMZD and ONEQ shifts across timeframes, from -0.72 (all time) to -0.62 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AMZD vs. ONEQ — Risk / Return Rank
AMZD
ONEQ
AMZD vs. ONEQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AMZN Bear 1X Shares (AMZD) and Fidelity Nasdaq Composite Index ETF (ONEQ). 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 | ONEQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.91 | ||
| Sortino ratioReturn per unit of downside risk | -2.46 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.26 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | 2.07 | -2.55 |
| Martin ratioReturn relative to average drawdown | -1.01 | 7.46 | -8.47 |
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Drawdowns
AMZD vs. ONEQ - Drawdown Comparison
The maximum AMZD drawdown since its inception was -73.05%, which is greater than ONEQ's maximum drawdown of -55.09%. Use the drawdown chart below to compare losses from any high point for AMZD and ONEQ.
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Drawdown Indicators
| AMZD | ONEQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.05% | -55.09% | -17.96% |
Max Drawdown (1Y)Largest decline over 1 year | -28.27% | -12.64% | -15.63% |
Max Drawdown (3Y)Largest decline over 3 years | -59.20% | -24.09% | -35.11% |
Max Drawdown (5Y)Largest decline over 5 years | — | -35.23% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.23% | — |
Current DrawdownCurrent decline from peak | -70.46% | -4.32% | -66.14% |
Average DrawdownAverage peak-to-trough decline | -49.67% | -7.93% | -41.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.45% | 3.49% | +9.96% |
Volatility
AMZD vs. ONEQ - Volatility Comparison
Direxion Daily AMZN Bear 1X Shares (AMZD) has a higher volatility of 9.79% compared to Fidelity Nasdaq Composite Index ETF (ONEQ) at 5.81%. This indicates that AMZD's price experiences larger fluctuations and is considered to be riskier than ONEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AMZD | ONEQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.79% | 5.81% | +3.98% |
Volatility (6M)Calculated over the trailing 6-month period | 22.10% | 14.21% | +7.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.28% | 17.76% | +13.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.38% | 22.42% | +10.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.38% | 21.78% | +11.60% |
AMZD vs. ONEQ - Expense Ratio Comparison
AMZD has a 1.09% expense ratio, which is higher than ONEQ's 0.21% expense ratio.
Dividends
AMZD vs. ONEQ - Dividend Comparison
AMZD's dividend yield for the trailing twelve months is around 3.41%, more than ONEQ's 0.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMZD Direxion Daily AMZN Bear 1X Shares | 3.41% | 3.61% | 5.15% | 6.83% | 2.45% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ONEQ Fidelity Nasdaq Composite Index ETF | 0.86% | 0.54% | 0.65% | 0.71% | 0.97% | 0.54% | 0.71% | 2.51% | 1.08% | 0.84% | 1.12% | 1.04% |
Frequently Asked Questions
AMZD and ONEQ have a correlation of -0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AMZD has higher volatility (9.79%) compared to ONEQ (5.81%). In terms of maximum drawdown, AMZD dropped -73.05% vs ONEQ's -55.09%.
On 3-year performance, ONEQ leads with 23.06% vs -20.92% for AMZD. On fees, ONEQ is cheaper at 0.21% per year. On volatility, ONEQ has been the lower-risk option at 5.81%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ONEQ has performed better with a 23.06% return vs -20.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ONEQ is cheaper with a 0.21% expense ratio, compared with 1.09% for AMZD.
AMZD has the higher dividend yield at 3.41%, compared with 0.86% for ONEQ.
AMZD is categorized as Inverse Equities, while ONEQ is Large Cap Growth Equities. AMZD tracks Amazon.com, Inc. (-100%), while ONEQ tracks Nasdaq Composite Index. They also come from different issuers: Direxion and Fidelity. Their fees differ too: 1.09% for AMZD and 0.21% for ONEQ.
ONEQ currently has the higher Sharpe Ratio (1.47 vs -0.44), 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.
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