AMZW vs. AMZD

Last updated Jun 25, 2026

AMZW (Roundhill AMZN WeeklyPay ETF) and AMZD (Direxion Daily AMZN Bear 1X Shares) are both exchange-traded funds - AMZW is a Derivative Income fund actively managed by Roundhill, while AMZD is a Inverse Equities fund tracking the Amazon.com, Inc. (-100%). AMZW is actively managed, while AMZD is passively managed. Over the past year, AMZW returned 6.63% vs -11.96% for AMZD. At a correlation of -0.99, they often move in opposite directions. AMZW charges 0.99%/yr vs 1.09%/yr for AMZD.

Performance

AMZW vs. AMZD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill AMZN WeeklyPay ETF (AMZW) and Direxion Daily AMZN Bear 1X Shares (AMZD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMZW achieves a -0.73% return, which is significantly higher than AMZD's -3.18% return.

AMZW

• 1D: -0.20%
• 1M: -14.89%
• YTD: -0.73%
• 6M: -1.71%
• 1Y: 6.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AMZD

• 1D: 0.00%
• 1M: 13.09%
• YTD: -3.18%
• 6M: -2.41%
• 1Y: -11.96%
• 3Y*: -20.03%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AMZW vs. AMZD - Yearly Performance Comparison

	2026 (YTD)	2025
AMZW Roundhill AMZN WeeklyPay ETF	-0.73%	7.33%
AMZD Direxion Daily AMZN Bear 1X Shares	-3.18%	-8.29%

Correlation

The correlation between AMZW and AMZD is -0.99, 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	-0.99
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	-0.99

The correlation between AMZW and AMZD has been stable across timeframes, ranging from -0.99 to -0.99 - a consistent structural relationship.

Return for Risk

AMZW vs. AMZD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AMZW

AMZW Risk / Return Rank: 12
AMZW Sharpe Ratio Rank: 11
AMZW Sortino Ratio Rank: 12
AMZW Omega Ratio Rank: 12
AMZW Calmar Ratio Rank: 12
AMZW Martin Ratio Rank: 11

AMZD

AMZD Risk / Return Rank: 6
AMZD Sharpe Ratio Rank: 6
AMZD Sortino Ratio Rank: 6
AMZD Omega Ratio Rank: 6
AMZD Calmar Ratio Rank: 6
AMZD Martin Ratio Rank: 5

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.

AMZW vs. AMZD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill AMZN WeeklyPay ETF (AMZW) and Direxion Daily AMZN Bear 1X Shares (AMZD). 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.

	AMZW	AMZD	Difference
Sharpe ratio: Return per unit of total volatility	0.18	-0.39	+0.57
Sortino ratio: Return per unit of downside risk	0.52	-0.36	+0.88
Omega ratio: Gain probability vs. loss probability	1.06	0.96	+0.11
Calmar ratio: Return relative to maximum drawdown	0.25	-0.42	+0.67
Martin ratio: Return relative to average drawdown	0.56	-0.94	+1.50

AMZW vs. AMZD - Sharpe Ratio Comparison

The current AMZW Sharpe Ratio is 0.18, which is higher than the AMZD Sharpe Ratio of -0.39. The chart below compares the historical Sharpe Ratios of AMZW and AMZD, 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

AMZW vs. AMZD - Drawdown Comparison

The maximum AMZW drawdown since its inception was -26.79%, smaller than the maximum AMZD drawdown of -73.05%. Use the drawdown chart below to compare losses from any high point for AMZW and AMZD.

Drawdown Indicators

	AMZW	AMZD	Difference
Max Drawdown Largest peak-to-trough decline	-26.79%	-73.05%	+46.26%
Max Drawdown (1Y) Largest decline over 1 year	-26.79%	-28.27%	+1.48%
Max Drawdown (3Y) Largest decline over 3 years	—	-59.20%	—
Current Drawdown Current decline from peak	-18.25%	-68.50%	+50.25%
Average Drawdown Average peak-to-trough decline	-9.19%	-49.35%	+40.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.87%	12.77%	-0.90%

Volatility

AMZW vs. AMZD - Volatility Comparison

Roundhill AMZN WeeklyPay ETF (AMZW) has a higher volatility of 12.09% compared to Direxion Daily AMZN Bear 1X Shares (AMZD) at 10.05%. This indicates that AMZW's price experiences larger fluctuations and is considered to be riskier than AMZD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMZW	AMZD	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.09%	10.05%	+2.04%
Volatility (6M) Calculated over the trailing 6-month period	26.19%	21.76%	+4.43%
Volatility (1Y) Calculated over the trailing 1-year period	37.44%	31.01%	+6.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.27%	33.45%	+3.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.27%	33.45%	+3.82%

AMZW vs. AMZD - Expense Ratio Comparison

AMZW has a 0.99% expense ratio, which is lower than AMZD's 1.09% expense ratio.

Dividends

AMZW vs. AMZD - Dividend Comparison

AMZW's dividend yield for the trailing twelve months is around 49.16%, more than AMZD's 3.20% yield.

Position	TTM	2025	2024	2023	2022
AMZD Direxion Daily AMZN Bear 1X Shares	3.20%	3.61%	5.15%	6.83%	2.45%
AMZW Roundhill AMZN WeeklyPay ETF	49.16%	25.29%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AMZW and AMZD in my portfolio?

AMZW and AMZD have a correlation of -0.99, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMZW or AMZD?

AMZW has higher volatility (12.09%) compared to AMZD (10.05%). In terms of maximum drawdown, AMZW dropped -26.79% vs AMZD's -73.05%.

Which ETF is better, AMZW or AMZD?

On 1-year performance, AMZW leads with 6.63% vs -11.96% for AMZD. On fees, AMZW is cheaper at 0.99% per year. On volatility, AMZD has been the lower-risk option at 10.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMZW or AMZD?

Over the 1-year period, AMZW has performed better with a 6.63% return vs -11.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMZW or AMZD?

AMZW is cheaper with a 0.99% expense ratio, compared with 1.09% for AMZD.

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

AMZW has the higher dividend yield at 49.16%, compared with 3.20% for AMZD.

What is the main difference between AMZW and AMZD?

AMZW is categorized as Derivative Income, while AMZD is Inverse Equities. They also come from different issuers: Roundhill and Direxion. Their fees differ too: 0.99% for AMZW and 1.09% for AMZD.

Which has better risk-adjusted returns?

AMZW currently has the higher Sharpe Ratio (0.18 vs -0.39), 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.