AMZZ vs. AMZW

Last updated Jun 24, 2026

AMZZ (GraniteShares 2x Long AMZN Daily ETF) and AMZW (Roundhill AMZN WeeklyPay ETF) are both exchange-traded funds - AMZZ is a Leveraged Equities fund actively managed by GraniteShares, while AMZW is a Derivative Income fund actively managed by Roundhill. Both are actively managed. Over the past year, AMZZ returned 6.71% vs 9.58% for AMZW. With a 0.99 correlation, they move nearly in lockstep. AMZZ charges 1.15%/yr vs 0.99%/yr for AMZW.

Performance

AMZZ vs. AMZW - Performance Comparison

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

Returns By Period

In the year-to-date period, AMZZ achieves a -4.99% return, which is significantly lower than AMZW's -0.54% return.

AMZZ

• 1D: 1.08%
• 1M: -24.11%
• YTD: -4.99%
• 6M: -5.95%
• 1Y: 6.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AMZW

• 1D: 0.97%
• 1M: -14.72%
• YTD: -0.54%
• 6M: -1.35%
• 1Y: 9.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AMZZ vs. AMZW - Yearly Performance Comparison

	2026 (YTD)	2025
AMZZ GraniteShares 2x Long AMZN Daily ETF	-4.99%	5.46%
AMZW Roundhill AMZN WeeklyPay ETF	-0.54%	7.33%

Correlation

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

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

AMZZ vs. AMZW - Sectors Allocation Comparison

Sectors	AMZZ	AMZW
Consumer Cyclical	66.7%	24.5%
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

AMZZ vs. AMZW — Risk / Return Rank

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

AMZZ

AMZZ Risk / Return Rank: 11
AMZZ Sharpe Ratio Rank: 10
AMZZ Sortino Ratio Rank: 13
AMZZ Omega Ratio Rank: 13
AMZZ Calmar Ratio Rank: 10
AMZZ Martin Ratio Rank: 10

AMZW

AMZW Risk / Return Rank: 13
AMZW Sharpe Ratio Rank: 12
AMZW Sortino Ratio Rank: 13
AMZW Omega Ratio Rank: 13
AMZW Calmar Ratio Rank: 13
AMZW Martin Ratio Rank: 12

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. AMZW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long AMZN Daily ETF (AMZZ) and Roundhill AMZN WeeklyPay ETF (AMZW). 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.

	AMZZ	AMZW	Difference
Sharpe ratio: Return per unit of total volatility	0.11	0.26	-0.15
Sortino ratio: Return per unit of downside risk	0.59	0.62	-0.03
Omega ratio: Gain probability vs. loss probability	1.07	1.08	0.00
Calmar ratio: Return relative to maximum drawdown	0.16	0.36	-0.20
Martin ratio: Return relative to average drawdown	0.35	0.81	-0.46

AMZZ vs. AMZW - Sharpe Ratio Comparison

The current AMZZ Sharpe Ratio is 0.11, which is lower than the AMZW Sharpe Ratio of 0.26. The chart below compares the historical Sharpe Ratios of AMZZ and AMZW, 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

AMZZ vs. AMZW - Drawdown Comparison

The maximum AMZZ drawdown since its inception was -55.28%, which is greater than AMZW's maximum drawdown of -26.79%. Use the drawdown chart below to compare losses from any high point for AMZZ and AMZW.

Drawdown Indicators

	AMZZ	AMZW	Difference
Max Drawdown Largest peak-to-trough decline	-55.28%	-26.79%	-28.49%
Max Drawdown (1Y) Largest decline over 1 year	-41.97%	-26.79%	-15.18%
Current Drawdown Current decline from peak	-28.83%	-18.09%	-10.74%
Average Drawdown Average peak-to-trough decline	-20.25%	-9.16%	-11.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.23%	11.82%	+7.41%

Volatility

AMZZ vs. AMZW - Volatility Comparison

GraniteShares 2x Long AMZN Daily ETF (AMZZ) has a higher volatility of 20.12% compared to Roundhill AMZN WeeklyPay ETF (AMZW) at 12.07%. This indicates that AMZZ's price experiences larger fluctuations and is considered to be riskier than AMZW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMZZ	AMZW	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.12%	12.07%	+8.05%
Volatility (6M) Calculated over the trailing 6-month period	43.07%	26.19%	+16.88%
Volatility (1Y) Calculated over the trailing 1-year period	61.33%	37.44%	+23.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	63.09%	37.35%	+25.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	63.09%	37.35%	+25.74%

AMZZ vs. AMZW - Expense Ratio Comparison

AMZZ has a 1.15% expense ratio, which is higher than AMZW's 0.99% expense ratio.

Dividends

AMZZ vs. AMZW - Dividend Comparison

AMZZ has not paid dividends to shareholders, while AMZW's dividend yield for the trailing twelve months is around 49.07%.

Position	TTM	2025
AMZW Roundhill AMZN WeeklyPay ETF	49.07%	25.29%
AMZZ GraniteShares 2x Long AMZN Daily ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both AMZZ and AMZW in my portfolio?

With a correlation of 0.99, AMZZ and AMZW 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 AMZW?

AMZZ has higher volatility (20.12%) compared to AMZW (12.07%). In terms of maximum drawdown, AMZZ dropped -55.28% vs AMZW's -26.79%.

Which ETF is better, AMZZ or AMZW?

On 1-year performance, AMZW leads with 9.58% vs 6.71% for AMZZ. On fees, AMZW is cheaper at 0.99% per year. On volatility, AMZW has been the lower-risk option at 12.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMZZ or AMZW?

Over the 1-year period, AMZW has performed better with a 9.58% return vs 6.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMZZ or AMZW?

AMZW is cheaper with a 0.99% expense ratio, compared with 1.15% for AMZZ.

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

AMZW has the higher dividend yield at 49.07%, compared with 0.00% for AMZZ.

What is the main difference between AMZZ and AMZW?

AMZZ is categorized as Leveraged Equities, while AMZW is Derivative Income. They also come from different issuers: GraniteShares and Roundhill. Their fees differ too: 1.15% for AMZZ and 0.99% for AMZW.

Which has better risk-adjusted returns?

AMZW currently has the higher Sharpe Ratio (0.26 vs 0.11), 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.