IBMT vs. AMUU

Last updated Jun 4, 2026

IBMT (iShares iBonds Dec 2031 Term Muni Bond ETF) and AMUU (Direxion Daily AMD Bull 2X Shares) are both exchange-traded funds - IBMT is a Municipal Bonds fund tracking the S&P AMT-Free Municipal Series Dec 2031 Index, while AMUU is a Leveraged Equities fund actively managed by Direxion. IBMT is passively managed, while AMUU is actively managed. Over the past year, IBMT returned 6.34% vs 1186.28% for AMUU. At a 0.03 correlation, their price movements are largely independent. IBMT charges 0.18%/yr vs 0.97%/yr for AMUU.

Performance

IBMT vs. AMUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2031 Term Muni Bond ETF (IBMT) and Direxion Daily AMD Bull 2X Shares (AMUU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBMT achieves a 0.19% return, which is significantly lower than AMUU's 393.28% return.

IBMT

• 1D: -0.02%
• 1M: 0.35%
• YTD: 0.19%
• 6M: 0.25%
• 1Y: 6.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AMUU

• 1D: 7.59%
• 1M: 134.67%
• YTD: 393.28%
• 6M: 368.74%
• 1Y: 1,186.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBMT vs. AMUU - Yearly Performance Comparison

	2026 (YTD)	2025
IBMT iShares iBonds Dec 2031 Term Muni Bond ETF	0.19%	7.26%
AMUU Direxion Daily AMD Bull 2X Shares	393.28%	160.77%

Correlation

The correlation between IBMT and AMUU is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.03
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	0.03

Return for Risk

IBMT vs. AMUU — Risk / Return Rank

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

IBMT

IBMT Risk / Return Rank: 60
IBMT Sharpe Ratio Rank: 62
IBMT Sortino Ratio Rank: 76
IBMT Omega Ratio Rank: 78
IBMT Calmar Ratio Rank: 43
IBMT Martin Ratio Rank: 39

AMUU

AMUU Risk / Return Rank: 96
AMUU Sharpe Ratio Rank: 99
AMUU Sortino Ratio Rank: 93
AMUU Omega Ratio Rank: 92
AMUU Calmar Ratio Rank: 99
AMUU Martin Ratio Rank: 97

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.

IBMT vs. AMUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2031 Term Muni Bond ETF (IBMT) and Direxion Daily AMD Bull 2X Shares (AMUU). 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.

	IBMT	AMUU	Difference
Sharpe ratio: Return per unit of total volatility	2.05	9.25	-7.20
Sortino ratio: Return per unit of downside risk	3.38	4.79	-1.41
Omega ratio: Gain probability vs. loss probability	1.46	1.63	-0.17
Calmar ratio: Return relative to maximum drawdown	2.06	21.30	-19.24
Martin ratio: Return relative to average drawdown	6.13	41.74	-35.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBMT vs. AMUU - Sharpe Ratio Comparison

The current IBMT Sharpe Ratio is 2.05, which is lower than the AMUU Sharpe Ratio of 9.25. The chart below compares the historical Sharpe Ratios of IBMT and AMUU, 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

	IBMT	AMUU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.05	9.25	-7.20
Sharpe Ratio (All Time) Calculated using the full available price history	1.63	4.45	-2.82

Drawdowns

IBMT vs. AMUU - Drawdown Comparison

The maximum IBMT drawdown since its inception was -3.18%, smaller than the maximum AMUU drawdown of -56.47%. Use the drawdown chart below to compare losses from any high point for IBMT and AMUU.

Drawdown Indicators

	IBMT	AMUU	Difference
Max Drawdown Largest peak-to-trough decline	-3.18%	-56.47%	+53.29%
Max Drawdown (1Y) Largest decline over 1 year	-3.10%	-56.31%	+53.21%
Current Drawdown Current decline from peak	-1.65%	0.00%	-1.65%
Average Drawdown Average peak-to-trough decline	-0.74%	-22.84%	+22.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	28.68%	-27.64%

Volatility

IBMT vs. AMUU - Volatility Comparison

The current volatility for iShares iBonds Dec 2031 Term Muni Bond ETF (IBMT) is 0.78%, while Direxion Daily AMD Bull 2X Shares (AMUU) has a volatility of 45.72%. This indicates that IBMT experiences smaller price fluctuations and is considered to be less risky than AMUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBMT	AMUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.78%	45.72%	-44.94%
Volatility (6M) Calculated over the trailing 6-month period	2.06%	94.24%	-92.18%
Volatility (1Y) Calculated over the trailing 1-year period	3.11%	129.66%	-126.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.86%	131.28%	-127.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.86%	131.28%	-127.42%

IBMT vs. AMUU - Expense Ratio Comparison

IBMT has a 0.18% expense ratio, which is lower than AMUU's 0.97% expense ratio.

Dividends

IBMT vs. AMUU - Dividend Comparison

IBMT's dividend yield for the trailing twelve months is around 3.65%, more than AMUU's 2.83% yield.

Position	TTM	2025
AMUU Direxion Daily AMD Bull 2X Shares	2.83%	13.58%
IBMT iShares iBonds Dec 2031 Term Muni Bond ETF	3.65%	2.98%

Frequently Asked Questions

Can I hold both IBMT and AMUU in my portfolio?

IBMT and AMUU have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBMT or AMUU?

AMUU has higher volatility (45.72%) compared to IBMT (0.78%). In terms of maximum drawdown, IBMT dropped -3.18% vs AMUU's -56.47%.

Which ETF is better, IBMT or AMUU?

On 1-year performance, AMUU leads with 1186.28% vs 6.34% for IBMT. On fees, IBMT is cheaper at 0.18% per year. On volatility, IBMT has been the lower-risk option at 0.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBMT or AMUU?

Over the 1-year period, AMUU has performed better with a 1186.28% return vs 6.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBMT or AMUU?

IBMT is cheaper with a 0.18% expense ratio, compared with 0.97% for AMUU.

Which ETF pays a higher dividend yield, IBMT or AMUU?

IBMT has the higher dividend yield at 3.65%, compared with 2.83% for AMUU.

What is the main difference between IBMT and AMUU?

IBMT is categorized as Municipal Bonds, while AMUU is Leveraged Equities. They also come from different issuers: iShares and Direxion. Their fees differ too: 0.18% for IBMT and 0.97% for AMUU.

Which has better risk-adjusted returns?

AMUU currently has the higher Sharpe Ratio (9.25 vs 2.05), 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.