AMZD vs. TSLL

Last updated Aug 2, 2026

AMZD (Direxion Daily AMZN Bear 1X Shares) and TSLL (Direxion Daily TSLA Bull 2X ETF) are both exchange-traded funds - AMZD is a Inverse Equities fund tracking the Amazon.com, Inc. (-100%), while TSLL is a Leveraged Equities fund actively managed by Direxion. AMZD is passively managed, while TSLL is actively managed. Over the past 3 years, AMZD returned -24.09%/yr vs -20.90%/yr for TSLL. Their -0.40 correlation means they have often moved in opposite directions in the past. AMZD charges 1.09%/yr vs 0.83%/yr for TSLL.

Performance

AMZD vs. TSLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily AMZN Bear 1X Shares (AMZD) and Direxion Daily TSLA Bull 2X ETF (TSLL). 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 higher than TSLL's -61.15% 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%

TSLL

• 1D: 1.39%
• 1M: -40.57%
• 6M: -56.61%
• YTD: -61.15%
• 1Y: -25.18%
• 3Y*: -20.90%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -23.74%

*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
TSLL Direxion Daily TSLA Bull 2X ETF	$724.83M	$679.97M	$948.78M

AMZD vs. TSLL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AMZD Direxion Daily AMZN Bear 1X Shares	-18.67%	-9.84%	-30.80%	-46.50%	45.25%
TSLL Direxion Daily TSLA Bull 2X ETF	-61.15%	-26.80%	99.63%	139.86%	-72.29%

Correlation

The correlation between AMZD and TSLL is -0.38, 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.	-0.38
Correlation (3Y) Balances recent behavior with more history.	-0.39
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022	-0.40

Return for Risk

AMZD vs. TSLL — 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

TSLL

TSLL Risk / Return Rank: 8
TSLL Sharpe Ratio Rank: 7
TSLL Sortino Ratio Rank: 11
TSLL Omega Ratio Rank: 11
TSLL Calmar Ratio Rank: 6
TSLL Martin Ratio Rank: 5

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. TSLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AMZN Bear 1X Shares (AMZD) and Direxion Daily TSLA Bull 2X ETF (TSLL). 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	TSLL	Difference
Sharpe ratio: Return per unit of total volatility	-0.54	-0.30	-0.24
Sortino ratio: Return per unit of downside risk	-0.55	0.16	-0.71
Omega ratio: Gain probability vs. loss probability	0.93	1.02	-0.09
Calmar ratio: Return relative to maximum drawdown	-0.65	-0.40	-0.25
Martin ratio: Return relative to average drawdown	-1.37	-0.88	-0.49

AMZD vs. TSLL - Sharpe Ratio Comparison

The current AMZD Sharpe Ratio is -0.54, which is lower than the TSLL Sharpe Ratio of -0.30. The chart below compares the historical Sharpe Ratios of AMZD and TSLL, 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. TSLL - Drawdown Comparison

The maximum AMZD drawdown since its inception was -73.54%, smaller than the maximum TSLL drawdown of -82.88%. Use the drawdown chart below to compare losses from any high point for AMZD and TSLL.

Drawdown Indicators

	AMZD	TSLL	Difference
Max Drawdown Largest peak-to-trough decline	-73.54%	-82.88%	+9.34%
Max Drawdown (1Y) Largest decline over 1 year	-29.56%	-70.13%	+40.57%
Max Drawdown (3Y) Largest decline over 3 years	-59.93%	-82.88%	+22.95%
Current Drawdown Current decline from peak	-73.54%	-80.38%	+6.84%
Average Drawdown Average peak-to-trough decline	-49.89%	-54.36%	+4.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.01%	31.62%	-17.61%

Volatility

AMZD vs. TSLL - Volatility Comparison

The current volatility for Direxion Daily AMZN Bear 1X Shares (AMZD) is 18.51%, while Direxion Daily TSLA Bull 2X ETF (TSLL) has a volatility of 43.16%. This indicates that AMZD experiences smaller price fluctuations and is considered to be less risky than TSLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMZD	TSLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.51%	43.16%	-24.65%
Volatility (6M) Calculated over the trailing 6-month period	27.88%	70.52%	-42.64%
Volatility (1Y) Calculated over the trailing 1-year period	35.31%	92.41%	-57.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.25%	107.78%	-73.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.25%	107.78%	-73.53%

AMZD vs. TSLL - Expense Ratio Comparison

AMZD has a 1.09% expense ratio, which is higher than TSLL's 0.83% expense ratio.

Dividends

AMZD vs. TSLL - Dividend Comparison

AMZD's dividend yield for the trailing twelve months is around 3.81%, less than TSLL's 13.48% yield.

Position	TTM	2025	2024	2023	2022
AMZD Direxion Daily AMZN Bear 1X Shares	3.81%	3.61%	5.15%	6.83%	2.45%
TSLL Direxion Daily TSLA Bull 2X ETF	13.48%	5.00%	2.47%	4.44%	1.57%

Frequently Asked Questions

Can I hold both AMZD and TSLL in my portfolio?

AMZD and TSLL have a correlation of -0.38, 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 TSLL?

TSLL has higher volatility (43.16%) compared to AMZD (18.51%). In terms of maximum drawdown, AMZD dropped -73.54% vs TSLL's -82.88%.

Which ETF is better, AMZD or TSLL?

On 3-year performance, TSLL leads with -20.90% vs -24.09% for AMZD. On fees, TSLL is cheaper at 0.83% 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 TSLL?

Over the 3-year period, TSLL has performed better with a -20.90% 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 TSLL?

TSLL is cheaper with a 0.83% expense ratio, compared with 1.09% for AMZD.

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

TSLL has the higher dividend yield at 13.48%, compared with 3.81% for AMZD.

What is the main difference between AMZD and TSLL?

AMZD is categorized as Inverse Equities, while TSLL is Leveraged Equities. Their fees differ too: 1.09% for AMZD and 0.83% for TSLL.

Which has better risk-adjusted returns?

TSLL currently has the higher Sharpe Ratio (-0.30 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.