EDZ vs. AMAT

Last updated Jul 12, 2026

EDZ (Direxion Daily Emerging Markets Bear 3X Shares) is Leveraged Equities fund tracking the MSCI Emerging Markets Index (-300%), while AMAT (Applied Materials, Inc.) is a stock. Over the past 10 years, EDZ returned -35.27%/yr vs 38.75%/yr for AMAT. At a correlation of -0.57, they often move in opposite directions.

Performance

EDZ vs. AMAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Emerging Markets Bear 3X Shares (EDZ) and Applied Materials, Inc. (AMAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EDZ achieves a -55.94% return, which is significantly lower than AMAT's 135.03% return. Over the past 10 years, EDZ has underperformed AMAT with an annualized return of -35.27%, while AMAT has yielded a comparatively higher 38.75% annualized return.

EDZ

• 1D: -0.84%
• 1M: -2.37%
• 6M: -49.66%
• YTD: -55.94%
• 1Y: -70.46%
• 3Y*: -47.23%
• 5Y*: -26.31%
• 10Y*: -35.27%

AMAT

• 1D: 2.35%
• 1M: 6.21%
• 6M: 100.54%
• YTD: 135.03%
• 1Y: 206.63%
• 3Y*: 64.96%
• 5Y*: 36.03%
• 10Y*: 38.75%

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

EDZ vs. AMAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EDZ Direxion Daily Emerging Markets Bear 3X Shares	-55.94%	-59.30%	-12.71%	-20.28%	49.27%	-8.69%	-68.79%	-43.01%	32.87%	-64.12%
AMAT Applied Materials, Inc.	135.03%	59.60%	1.13%	67.97%	-37.54%	83.64%	43.29%	89.86%	-34.92%	59.86%

Correlation

The correlation between EDZ and AMAT is -0.63, 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	-0.63
Correlation (3Y) Calculated over the trailing 3-year period	-0.56
Correlation (5Y) Calculated over the trailing 5-year period	-0.57
Correlation (10Y) Calculated over the trailing 10-year period	-0.56
Correlation (All Time) Calculated using the full available price history since Dec 30, 2008	-0.57

The correlation between EDZ and AMAT has been stable across timeframes, ranging from -0.63 to -0.56 - a consistent structural relationship.

Return for Risk

EDZ vs. AMAT — Risk / Return Rank

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

EDZ

EDZ Risk / Return Rank: 1
EDZ Sharpe Ratio Rank: 1
EDZ Sortino Ratio Rank: 1
EDZ Omega Ratio Rank: 1
EDZ Calmar Ratio Rank: 1
EDZ Martin Ratio Rank: 1

AMAT

AMAT Risk / Return Rank: 97
AMAT Sharpe Ratio Rank: 98
AMAT Sortino Ratio Rank: 95
AMAT Omega Ratio Rank: 95
AMAT Calmar Ratio Rank: 98
AMAT Martin Ratio Rank: 98

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.

EDZ vs. AMAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Emerging Markets Bear 3X Shares (EDZ) and Applied Materials, Inc. (AMAT). 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.

	EDZ	AMAT	Difference
Sharpe ratio: Return per unit of total volatility	-1.02	3.76	-4.78
Sortino ratio: Return per unit of downside risk	-1.95	3.53	-5.48
Omega ratio: Gain probability vs. loss probability	0.77	1.50	-0.72
Calmar ratio: Return relative to maximum drawdown	-0.94	8.92	-9.86
Martin ratio: Return relative to average drawdown	-1.57	25.57	-27.14

EDZ vs. AMAT - Sharpe Ratio Comparison

The current EDZ Sharpe Ratio is -1.02, which is lower than the AMAT Sharpe Ratio of 3.76. The chart below compares the historical Sharpe Ratios of EDZ and AMAT, 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

EDZ vs. AMAT - Drawdown Comparison

The maximum EDZ drawdown since its inception was -99.99%, which is greater than AMAT's maximum drawdown of -85.22%. Use the drawdown chart below to compare losses from any high point for EDZ and AMAT.

Drawdown Indicators

	EDZ	AMAT	Difference
Max Drawdown Largest peak-to-trough decline	-99.99%	-85.22%	-14.77%
Max Drawdown (1Y) Largest decline over 1 year	-74.94%	-23.31%	-51.63%
Max Drawdown (3Y) Largest decline over 3 years	-90.46%	-49.88%	-40.58%
Max Drawdown (5Y) Largest decline over 5 years	-92.91%	-55.14%	-37.77%
Max Drawdown (10Y) Largest decline over 10 years	-98.90%	-55.14%	-43.76%
Current Drawdown Current decline from peak	-99.99%	-16.67%	-83.32%
Average Drawdown Average peak-to-trough decline	-97.73%	-38.73%	-59.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.71%	8.11%	+36.60%

Volatility

EDZ vs. AMAT - Volatility Comparison

Direxion Daily Emerging Markets Bear 3X Shares (EDZ) has a higher volatility of 31.98% compared to Applied Materials, Inc. (AMAT) at 29.14%. This indicates that EDZ's price experiences larger fluctuations and is considered to be riskier than AMAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EDZ	AMAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.98%	29.14%	+2.84%
Volatility (6M) Calculated over the trailing 6-month period	62.58%	45.82%	+16.76%
Volatility (1Y) Calculated over the trailing 1-year period	69.16%	55.26%	+13.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.14%	45.66%	+13.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.50%	43.68%	+17.82%

Dividends

EDZ vs. AMAT - Dividend Comparison

EDZ's dividend yield for the trailing twelve months is around 7.59%, more than AMAT's 0.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMAT Applied Materials, Inc.	0.32%	0.69%	0.93%	0.75%	1.05%	0.60%	1.01%	1.36%	2.14%	0.78%	1.24%	2.14%
EDZ Direxion Daily Emerging Markets Bear 3X Shares	7.59%	6.58%	4.87%	4.34%	0.00%	0.00%	0.82%	1.67%	0.68%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EDZ and AMAT in my portfolio?

EDZ and AMAT have a correlation of -0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EDZ or AMAT?

EDZ has higher volatility (31.98%) compared to AMAT (29.14%). In terms of maximum drawdown, EDZ dropped -99.99% vs AMAT's -85.22%.

Which has better risk-adjusted returns?

AMAT currently has the higher Sharpe Ratio (3.76 vs -1.02), 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.