AMZU vs. ^GSPC
AMZU (Direxion Daily AMZN Bull 2X Shares) is Leveraged Equities fund tracking the Amazon.com, Inc. (200%), while ^GSPC (S&P 500 Index) is an index. Over the past 3 years, AMZU returned 18.79%/yr vs 18.60%/yr for ^GSPC. A 0.66 correlation means they provide meaningful diversification when combined.
Performance
AMZU vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, AMZU achieves a 3.21% return, which is significantly lower than ^GSPC's 9.79% return.
AMZU
- 1D
- 1.62%
- 1M
- 5.63%
- 6M
- -8.93%
- YTD
- 3.21%
- 1Y
- -1.46%
- 3Y*
- 18.79%
- 5Y*
- —
- 10Y*
- —
^GSPC
- 1D
- -0.79%
- 1M
- 1.13%
- 6M
- 7.71%
- YTD
- 9.79%
- 1Y
- 20.06%
- 3Y*
- 18.60%
- 5Y*
- 11.43%
- 10Y*
- 13.27%
AMZU vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
AMZU Direxion Daily AMZN Bull 2X Shares | 3.21% | -11.59% | 60.99% | 118.70% | -49.82% |
^GSPC S&P 500 Index | 9.79% | 16.39% | 23.31% | 24.23% | -1.76% |
Correlation
The correlation between AMZU and ^GSPC is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022 | 0.66 |
The correlation between AMZU and ^GSPC has been stable across timeframes, ranging from 0.59 to 0.66 - a consistent structural relationship.
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Return for Risk
AMZU vs. ^GSPC — Risk / Return Rank
AMZU
^GSPC
AMZU vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AMZN Bull 2X Shares (AMZU) and S&P 500 Index (^GSPC). 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.
| AMZU | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.63 | ||
| Sortino ratioReturn per unit of downside risk | -1.81 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.29 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 2.21 | -2.25 |
| Martin ratioReturn relative to average drawdown | -0.07 | 9.61 | -9.68 |
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Drawdowns
AMZU vs. ^GSPC - Drawdown Comparison
The maximum AMZU drawdown since its inception was -55.59%, roughly equal to the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for AMZU and ^GSPC.
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Drawdown Indicators
| AMZU | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.59% | -56.78% | +1.19% |
Max Drawdown (1Y)Largest decline over 1 year | -42.98% | -9.10% | -33.88% |
Max Drawdown (3Y)Largest decline over 3 years | -55.47% | -18.90% | -36.57% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -23.98% | -1.24% | -22.74% |
Average DrawdownAverage peak-to-trough decline | -22.02% | -10.71% | -11.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.53% | 2.09% | +18.44% |
Volatility
AMZU vs. ^GSPC - Volatility Comparison
Direxion Daily AMZN Bull 2X Shares (AMZU) has a higher volatility of 19.94% compared to S&P 500 Index (^GSPC) at 3.96%. This indicates that AMZU's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AMZU | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.94% | 3.96% | +15.98% |
Volatility (6M)Calculated over the trailing 6-month period | 43.78% | 9.99% | +33.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 61.95% | 12.57% | +49.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.33% | 17.01% | +42.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.33% | 18.05% | +41.28% |
Frequently Asked Questions
AMZU and ^GSPC have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AMZU has higher volatility (19.94%) compared to ^GSPC (3.96%). In terms of maximum drawdown, AMZU dropped -55.59% vs ^GSPC's -56.78%.
^GSPC currently has the higher Sharpe Ratio (1.61 vs -0.02), 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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