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AMZU vs. SPUU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

AMZU vs. SPUU

Last updated Jul 14, 2026
Documentation

AMZU (Direxion Daily AMZN Bull 2X Shares) and SPUU (Direxion Daily S&P 500 Bull 2X ETF) are both Leveraged Equities funds from Direxion - AMZU tracks the Amazon.com, Inc. (200%) while SPUU tracks the S&P 500 Index (200% Daily). Both are passively managed. Over the past 3 years, AMZU returned 18.79%/yr vs 33.08%/yr for SPUU. A 0.65 correlation means they provide meaningful diversification when combined. AMZU charges 0.99%/yr vs 0.60%/yr for SPUU.

Performance

AMZU vs. SPUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily AMZN Bull 2X Shares (AMZU) and Direxion Daily S&P 500 Bull 2X ETF (SPUU). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, AMZU achieves a 3.21% return, which is significantly lower than SPUU's 17.85% return.

AMZU

1D
1.62%
1M
5.63%
6M
-8.93%
YTD
3.21%
1Y
-1.46%
3Y*
18.79%
5Y*
—
10Y*
—

SPUU

1D
-1.52%
1M
1.98%
6M
13.42%
YTD
17.85%
1Y
38.09%
3Y*
33.08%
5Y*
18.17%
10Y*
23.89%
*Multi-year figures are annualized to reflect compound growth (CAGR)

AMZU vs. SPUU - Yearly Performance Comparison

2026 (YTD)2025202420232022
AMZU
Direxion Daily AMZN Bull 2X Shares		3.21%-11.59%60.99%118.70%-49.82%
SPUU
Direxion Daily S&P 500 Bull 2X ETF		17.85%26.55%44.25%47.28%-5.84%

Correlation

The correlation between AMZU and SPUU 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

0.65

The correlation between AMZU and SPUU has been stable across timeframes, ranging from 0.59 to 0.65 - a consistent structural relationship.

AMZU vs. SPUU - Sectors Allocation Comparison

Sectors
AMZU
SPUU

Consumer Cyclical

100.0%
9.9%

Basic Materials

-

1.7%

Communication Services

-

10.6%

Consumer Defensive

-

4.5%

Energy

-

3.1%

Financial Services

-

11.1%

Healthcare

-

8.3%

Industrials

-

7.8%

Real Estate

-

1.8%

Technology

-

39.0%

Utilities

-

2.1%

Consumer Cyclical

AMZU
100.0%
SPUU
9.9%

Basic Materials

AMZU

-

SPUU
1.7%

Communication Services

AMZU

-

SPUU
10.6%

Consumer Defensive

AMZU

-

SPUU
4.5%

Energy

AMZU

-

SPUU
3.1%

Financial Services

AMZU

-

SPUU
11.1%

Healthcare

AMZU

-

SPUU
8.3%

Industrials

AMZU

-

SPUU
7.8%

Real Estate

AMZU

-

SPUU
1.8%

Technology

AMZU

-

SPUU
39.0%

Utilities

AMZU

-

SPUU
2.1%

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Direxion Daily AMZN Bull 2X Shares

Direxion Daily S&P 500 Bull 2X ETF

Often compared with AMZU:
AMZU vs. AMZZAMZU vs. AMZNAMZU vs. AAPUAMZU vs. FSKAXAMZU vs. TECLAMZU vs. SCHGAMZU vs. FNGU
Often compared with SPUU:
SPUU vs. SSOSPUU vs. SPYSPUU vs. SPXLSPUU vs. VOOSPUU vs. QLDSPUU vs. QQQSPUU vs. DDM

Return for Risk

AMZU vs. SPUU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
AMZU
AMZU Risk / Return Rank: 1010
Overall Rank
AMZU Sharpe Ratio Rank: 99
Sharpe Ratio Rank
AMZU Sortino Ratio Rank: 1212
Sortino Ratio Rank
AMZU Omega Ratio Rank: 1212
Omega Ratio Rank
AMZU Calmar Ratio Rank: 99
Calmar Ratio Rank
AMZU Martin Ratio Rank: 99
Martin Ratio Rank
SPUU
SPUU Risk / Return Rank: 5555
Overall Rank
SPUU Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
SPUU Sortino Ratio Rank: 5252
Sortino Ratio Rank
SPUU Omega Ratio Rank: 5353
Omega Ratio Rank
SPUU Calmar Ratio Rank: 5353
Calmar Ratio Rank
SPUU Martin Ratio Rank: 6262
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AMZU vs. SPUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AMZN Bull 2X Shares (AMZU) and Direxion Daily S&P 500 Bull 2X ETF (SPUU). 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.

AMZUSPUUDifference
Sharpe ratioReturn per unit of total volatility
-0.02
1.52

-1.54

Sortino ratioReturn per unit of downside risk
0.41
2.05

-1.64

Omega ratioGain probability vs. loss probability

1.05

1.26

-0.21

Calmar ratioReturn relative to maximum drawdown

-0.03

2.10

-2.14

Martin ratioReturn relative to average drawdown

-0.07

8.72

-8.79

AMZU vs. SPUU - Sharpe Ratio Comparison

The current AMZU Sharpe Ratio is -0.02, which is lower than the SPUU Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of AMZU and SPUU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

AMZU vs. SPUU - Drawdown Comparison

The maximum AMZU drawdown since its inception was -55.59%, smaller than the maximum SPUU drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for AMZU and SPUU.

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Drawdown Indicators

AMZUSPUUDifference

Max Drawdown

Largest peak-to-trough decline

-55.59%

-59.35%

+3.76%

Max Drawdown (1Y)

Largest decline over 1 year

-42.98%

-18.19%

-24.79%

Max Drawdown (3Y)

Largest decline over 3 years

-55.47%

-35.18%

-20.29%

Max Drawdown (5Y)

Largest decline over 5 years

—

-46.59%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-59.35%

—

Current Drawdown

Current decline from peak

-23.98%

-2.90%

-21.08%

Average Drawdown

Average peak-to-trough decline

-22.02%

-9.46%

-12.56%

Ulcer Index

Depth and duration of drawdowns from previous peaks

20.53%

4.38%

+16.15%

Volatility

AMZU vs. SPUU - Volatility Comparison

Direxion Daily AMZN Bull 2X Shares (AMZU) has a higher volatility of 19.94% compared to Direxion Daily S&P 500 Bull 2X ETF (SPUU) at 8.12%. This indicates that AMZU's price experiences larger fluctuations and is considered to be riskier than SPUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

AMZUSPUUDifference

Volatility (1M)

Calculated over the trailing 1-month period

19.94%

8.12%

+11.82%

Volatility (6M)

Calculated over the trailing 6-month period

43.78%

20.13%

+23.65%

Volatility (1Y)

Calculated over the trailing 1-year period

61.95%

25.30%

+36.65%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

59.33%

33.69%

+25.64%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

59.33%

35.76%

+23.57%

AMZU vs. SPUU - Expense Ratio Comparison

AMZU has a 0.99% expense ratio, which is higher than SPUU's 0.60% expense ratio.

Dividends

AMZU vs. SPUU - Dividend Comparison

AMZU's dividend yield for the trailing twelve months is around 5.65%, more than SPUU's 1.33% yield.

PositionTTM20252024202320222021202020192018201720162015
AMZU
Direxion Daily AMZN Bull 2X Shares		5.65%6.12%3.79%3.37%0.50%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SPUU
Direxion Daily S&P 500 Bull 2X ETF		1.33%1.63%0.55%0.83%0.88%3.04%8.03%1.80%5.50%6.96%8.08%4.42%

Frequently Asked Questions

AMZU and SPUU 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 SPUU (8.12%). In terms of maximum drawdown, AMZU dropped -55.59% vs SPUU's -59.35%.

On 3-year performance, SPUU leads with 33.08% vs 18.79% for AMZU. On fees, SPUU is cheaper at 0.60% per year. On volatility, SPUU has been the lower-risk option at 8.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, SPUU has performed better with a 33.08% return vs 18.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPUU is cheaper with a 0.60% expense ratio, compared with 0.99% for AMZU.

AMZU has the higher dividend yield at 5.65%, compared with 1.33% for SPUU.

AMZU tracks Amazon.com, Inc. (200%), while SPUU tracks S&P 500 Index (200% Daily). Their fees differ too: 0.99% for AMZU and 0.60% for SPUU.

SPUU currently has the higher Sharpe Ratio (1.52 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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