MSDD vs. AMDL

Last updated Jun 23, 2026

MSDD (GraniteShares 2x Short MSTR Daily ETF) and AMDL (GraniteShares 2x Long AMD Daily ETF) are both exchange-traded funds - MSDD is a Inverse Equities fund actively managed by GraniteShares, while AMDL is a Leveraged Equities fund actively managed by GraniteShares. Both are actively managed. Over the past year, MSDD returned 71.30% vs 978.63% for AMDL. At a correlation of -0.37, they often move in opposite directions. MSDD charges 1.50%/yr vs 1.15%/yr for AMDL.

Performance

MSDD vs. AMDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Short MSTR Daily ETF (MSDD) and GraniteShares 2x Long AMD Daily ETF (AMDL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSDD achieves a -48.72% return, which is significantly lower than AMDL's 386.95% return.

MSDD

• 1D: 0.00%
• 1M: 44.94%
• YTD: -48.72%
• 6M: -40.94%
• 1Y: 71.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AMDL

• 1D: 5.43%
• 1M: 30.82%
• YTD: 386.95%
• 6M: 382.29%
• 1Y: 978.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSDD vs. AMDL - Yearly Performance Comparison

	2026 (YTD)	2025
MSDD GraniteShares 2x Short MSTR Daily ETF	-48.72%	274.52%
AMDL GraniteShares 2x Long AMD Daily ETF	386.95%	142.97%

Correlation

The correlation between MSDD and AMDL is -0.37, 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	-0.37
Correlation (All Time) Calculated using the full available price history since Jun 10, 2025	-0.37

MSDD vs. AMDL - Sectors Allocation Comparison

Sectors	MSDD	AMDL
Technology	200.1%	66.6%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

MSDD vs. AMDL — Risk / Return Rank

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

MSDD

MSDD Risk / Return Rank: 23
MSDD Sharpe Ratio Rank: 16
MSDD Sortino Ratio Rank: 31
MSDD Omega Ratio Rank: 32
MSDD Calmar Ratio Rank: 19
MSDD Martin Ratio Rank: 16

AMDL

AMDL Risk / Return Rank: 95
AMDL Sharpe Ratio Rank: 99
AMDL Sortino Ratio Rank: 93
AMDL Omega Ratio Rank: 91
AMDL Calmar Ratio Rank: 98
AMDL Martin Ratio Rank: 96

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.

MSDD vs. AMDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Short MSTR Daily ETF (MSDD) and GraniteShares 2x Long AMD Daily ETF (AMDL). 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.

	MSDD	AMDL	Difference
Sharpe ratio: Return per unit of total volatility	0.51	7.39	-6.88
Sortino ratio: Return per unit of downside risk	1.62	4.31	-2.68
Omega ratio: Gain probability vs. loss probability	1.21	1.57	-0.36
Calmar ratio: Return relative to maximum drawdown	0.84	17.62	-16.77
Martin ratio: Return relative to average drawdown	1.67	34.27	-32.61

MSDD vs. AMDL - Sharpe Ratio Comparison

The current MSDD Sharpe Ratio is 0.51, which is lower than the AMDL Sharpe Ratio of 7.39. The chart below compares the historical Sharpe Ratios of MSDD and AMDL, 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

MSDD vs. AMDL - Drawdown Comparison

The maximum MSDD drawdown since its inception was -84.91%, roughly equal to the maximum AMDL drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for MSDD and AMDL.

Drawdown Indicators

	MSDD	AMDL	Difference
Max Drawdown Largest peak-to-trough decline	-84.91%	-88.63%	+3.72%
Max Drawdown (1Y) Largest decline over 1 year	-84.91%	-56.13%	-28.78%
Current Drawdown Current decline from peak	-68.63%	-1.66%	-66.97%
Average Drawdown Average peak-to-trough decline	-31.11%	-47.80%	+16.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	42.92%	28.80%	+14.12%

Volatility

MSDD vs. AMDL - Volatility Comparison

The current volatility for GraniteShares 2x Short MSTR Daily ETF (MSDD) is 32.23%, while GraniteShares 2x Long AMD Daily ETF (AMDL) has a volatility of 46.96%. This indicates that MSDD experiences smaller price fluctuations and is considered to be less risky than AMDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSDD	AMDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.23%	46.96%	-14.73%
Volatility (6M) Calculated over the trailing 6-month period	124.69%	101.28%	+23.41%
Volatility (1Y) Calculated over the trailing 1-year period	141.22%	134.09%	+7.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	139.12%	118.34%	+20.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	139.12%	118.34%	+20.78%

MSDD vs. AMDL - Expense Ratio Comparison

MSDD has a 1.50% expense ratio, which is higher than AMDL's 1.15% expense ratio.

Dividends

MSDD vs. AMDL - Dividend Comparison

Neither MSDD nor AMDL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MSDD and AMDL in my portfolio?

MSDD and AMDL have a correlation of -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSDD or AMDL?

AMDL has higher volatility (46.96%) compared to MSDD (32.23%). In terms of maximum drawdown, MSDD dropped -84.91% vs AMDL's -88.63%.

Which ETF is better, MSDD or AMDL?

On 1-year performance, AMDL leads with 978.63% vs 71.30% for MSDD. On fees, AMDL is cheaper at 1.15% per year. On volatility, MSDD has been the lower-risk option at 32.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSDD or AMDL?

Over the 1-year period, AMDL has performed better with a 978.63% return vs 71.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSDD or AMDL?

AMDL is cheaper with a 1.15% expense ratio, compared with 1.50% for MSDD.

Which ETF pays a higher dividend yield, MSDD or AMDL?

MSDD and AMDL have nearly identical dividend yields, around 0.00%.

What is the main difference between MSDD and AMDL?

MSDD is categorized as Inverse Equities, while AMDL is Leveraged Equities. Their fees differ too: 1.50% for MSDD and 1.15% for AMDL.

Which has better risk-adjusted returns?

AMDL currently has the higher Sharpe Ratio (7.39 vs 0.51), 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.