AMZZ vs. AMZU

Last updated Jun 4, 2026

AMZZ (GraniteShares 2x Long AMZN Daily ETF) and AMZU (Direxion Daily AMZN Bull 2X Shares) are both Leveraged Equities funds. AMZZ is actively managed, while AMZU is passively managed. Over the past year, AMZZ returned 25.28% vs 21.37% for AMZU. With a 1.00 correlation, they move nearly in lockstep. AMZZ charges 1.15%/yr vs 1.06%/yr for AMZU.

Performance

AMZZ vs. AMZU - Performance Comparison

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

Returns By Period

In the year-to-date period, AMZZ achieves a 9.44% return, which is significantly higher than AMZU's 8.04% return.

AMZZ

• 1D: -5.02%
• 1M: -16.12%
• YTD: 9.44%
• 6M: 7.26%
• 1Y: 25.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AMZU

• 1D: -5.04%
• 1M: -16.62%
• YTD: 8.04%
• 6M: 5.52%
• 1Y: 21.37%
• 3Y*: 25.11%
• 5Y*: —
• 10Y*: —

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

AMZZ vs. AMZU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AMZZ GraniteShares 2x Long AMZN Daily ETF	9.44%	-8.94%	38.36%
AMZU Direxion Daily AMZN Bull 2X Shares	8.04%	-11.59%	33.68%

Correlation

The correlation between AMZZ and AMZU is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (All Time) Calculated using the full available price history since Mar 19, 2024	1.00

The correlation between AMZZ and AMZU has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

AMZZ vs. AMZU - Sectors Allocation Comparison

Sectors	AMZZ	AMZU
Consumer Cyclical	66.7%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

AMZZ vs. AMZU — Risk / Return Rank

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

AMZZ

AMZZ Risk / Return Rank: 17
AMZZ Sharpe Ratio Rank: 15
AMZZ Sortino Ratio Rank: 19
AMZZ Omega Ratio Rank: 19
AMZZ Calmar Ratio Rank: 16
AMZZ Martin Ratio Rank: 15

AMZU

AMZU Risk / Return Rank: 15
AMZU Sharpe Ratio Rank: 14
AMZU Sortino Ratio Rank: 17
AMZU Omega Ratio Rank: 17
AMZU Calmar Ratio Rank: 15
AMZU Martin Ratio Rank: 14

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.

AMZZ vs. AMZU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long AMZN Daily ETF (AMZZ) and Direxion Daily AMZN Bull 2X Shares (AMZU). 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.

	AMZZ	AMZU	Difference
Sharpe ratio Return per unit of total volatility	0.43	0.36	+0.07
Sortino ratio Return per unit of downside risk	0.99	0.91	+0.08
Omega ratio Gain probability vs. loss probability	1.12	1.11	+0.01
Calmar ratio Return relative to maximum drawdown	0.61	0.50	+0.11
Martin ratio Return relative to average drawdown	1.37	1.13	+0.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AMZZ vs. AMZU - Sharpe Ratio Comparison

The current AMZZ Sharpe Ratio is 0.43, which is comparable to the AMZU Sharpe Ratio of 0.36. The chart below compares the historical Sharpe Ratios of AMZZ and AMZU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AMZZ	AMZU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.43	0.36	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.25	0.00

Drawdowns

AMZZ vs. AMZU - Drawdown Comparison

The maximum AMZZ drawdown since its inception was -55.28%, roughly equal to the maximum AMZU drawdown of -55.59%. Use the drawdown chart below to compare losses from any high point for AMZZ and AMZU.

Drawdown Indicators

	AMZZ	AMZU	Difference
Max Drawdown Largest peak-to-trough decline	-55.28%	-55.59%	+0.31%
Max Drawdown (1Y) Largest decline over 1 year	-41.97%	-42.98%	+1.01%
Max Drawdown (3Y) Largest decline over 3 years	—	-55.47%	—
Current Drawdown Current decline from peak	-18.02%	-20.42%	+2.40%
Average Drawdown Average peak-to-trough decline	-20.21%	-21.91%	+1.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.49%	18.91%	-0.42%

Volatility

AMZZ vs. AMZU - Volatility Comparison

GraniteShares 2x Long AMZN Daily ETF (AMZZ) and Direxion Daily AMZN Bull 2X Shares (AMZU) have volatilities of 14.66% and 14.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMZZ	AMZU	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.66%	14.41%	+0.25%
Volatility (6M) Calculated over the trailing 6-month period	40.44%	40.64%	-0.20%
Volatility (1Y) Calculated over the trailing 1-year period	59.66%	59.79%	-0.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.82%	59.16%	+3.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.82%	59.16%	+3.66%

AMZZ vs. AMZU - Expense Ratio Comparison

AMZZ has a 1.15% expense ratio, which is higher than AMZU's 1.06% expense ratio.

Dividends

AMZZ vs. AMZU - Dividend Comparison

AMZZ has not paid dividends to shareholders, while AMZU's dividend yield for the trailing twelve months is around 5.62%.

Position	TTM	2025	2024	2023	2022
AMZU Direxion Daily AMZN Bull 2X Shares	5.62%	6.12%	3.79%	3.37%	0.50%
AMZZ GraniteShares 2x Long AMZN Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AMZZ and AMZU in my portfolio?

With a correlation of 1.00, AMZZ and AMZU move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AMZZ or AMZU?

AMZZ has higher volatility (14.66%) compared to AMZU (14.41%). In terms of maximum drawdown, AMZZ dropped -55.28% vs AMZU's -55.59%.

Which ETF is better, AMZZ or AMZU?

On 1-year performance, AMZZ leads with 25.28% vs 21.37% for AMZU. On fees, AMZU is cheaper at 1.06% per year. On volatility, AMZU has been the lower-risk option at 14.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMZZ or AMZU?

Over the 1-year period, AMZZ has performed better with a 25.28% return vs 21.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMZZ or AMZU?

AMZU is cheaper with a 1.06% expense ratio, compared with 1.15% for AMZZ.

Which ETF pays a higher dividend yield, AMZZ or AMZU?

AMZU has the higher dividend yield at 5.62%, compared with 0.00% for AMZZ.

What is the main difference between AMZZ and AMZU?

They also come from different issuers: GraniteShares and Direxion. Their fees differ too: 1.15% for AMZZ and 1.06% for AMZU.

Which has better risk-adjusted returns?

AMZZ currently has the higher Sharpe Ratio (0.43 vs 0.36), 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.