TSLS vs. AMDD

Last updated Aug 2, 2026

TSLS (Direxion Daily TSLA Bear 1X ETF) and AMDD (Direxion Daily AMD Bear 1X Shares) are both Inverse Equities funds from Direxion. TSLS is passively managed, while AMDD is actively managed. Over the past year, TSLS returned -14.97% vs -77.13% for AMDD. Their 0.48 correlation means their historical movements had little consistent relationship. TSLS charges 0.95%/yr vs 0.97%/yr for AMDD.

Performance

TSLS vs. AMDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily TSLA Bear 1X ETF (TSLS) and Direxion Daily AMD Bear 1X Shares (AMDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLS achieves a 33.30% return, which is significantly higher than AMDD's -66.98% return.

TSLS

• 1D: -0.74%
• 1M: 22.65%
• 6M: 27.99%
• YTD: 33.30%
• 1Y: -14.97%
• 3Y*: -27.51%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -25.22%

AMDD

• 1D: 1.94%
• 1M: 2.76%
• 6M: -62.83%
• YTD: -66.98%
• 1Y: -77.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -75.44%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AMDD Direxion Daily AMD Bear 1X Shares	$19.64M	$40.48M	$58.45M
TSLS Direxion Daily TSLA Bear 1X ETF	$28.97M	$27.46M	$30.88M

TSLS vs. AMDD - Yearly Performance Comparison

	2026 (YTD)	2025
TSLS Direxion Daily TSLA Bear 1X ETF	33.30%	-45.56%
AMDD Direxion Daily AMD Bear 1X Shares	-66.98%	-61.12%

Correlation

The correlation between TSLS and AMDD is 0.43, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.43
Correlation (All Time) Calculated using the full available price history since Feb 12, 2025	0.48

Return for Risk

TSLS vs. AMDD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TSLS

TSLS Risk / Return Rank: 8
TSLS Sharpe Ratio Rank: 7
TSLS Sortino Ratio Rank: 8
TSLS Omega Ratio Rank: 8
TSLS Calmar Ratio Rank: 7
TSLS Martin Ratio Rank: 8

AMDD

AMDD Risk / Return Rank: 1
AMDD Sharpe Ratio Rank: 1
AMDD Sortino Ratio Rank: 0
AMDD Omega Ratio Rank: 0
AMDD Calmar Ratio Rank: 1
AMDD Martin Ratio Rank: 0

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TSLS vs. AMDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily TSLA Bear 1X ETF (TSLS) and Direxion Daily AMD Bear 1X Shares (AMDD). 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.

	TSLS	AMDD	Difference
Sharpe ratio: Return per unit of total volatility	-0.28	-1.07	+0.79
Sortino ratio: Return per unit of downside risk	-0.11	-2.03	+1.93
Omega ratio: Gain probability vs. loss probability	0.99	0.74	+0.24
Calmar ratio: Return relative to maximum drawdown	-0.32	-0.93	+0.61
Martin ratio: Return relative to average drawdown	-0.45	-1.50	+1.05

TSLS vs. AMDD - Sharpe Ratio Comparison

The current TSLS Sharpe Ratio is -0.28, which is higher than the AMDD Sharpe Ratio of -1.07. The chart below compares the historical Sharpe Ratios of TSLS and AMDD, 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

TSLS vs. AMDD - Drawdown Comparison

The maximum TSLS drawdown since its inception was -90.73%, roughly equal to the maximum AMDD drawdown of -91.84%. Use the drawdown chart below to compare losses from any high point for TSLS and AMDD.

Drawdown Indicators

	TSLS	AMDD	Difference
Max Drawdown Largest peak-to-trough decline	-90.73%	-91.84%	+1.11%
Max Drawdown (1Y) Largest decline over 1 year	-41.36%	-82.18%	+40.82%
Max Drawdown (3Y) Largest decline over 3 years	-84.16%	—	—
Current Drawdown Current decline from peak	-86.56%	-90.64%	+4.08%
Average Drawdown Average peak-to-trough decline	-64.44%	-59.88%	-4.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.53%	50.87%	-21.34%

Volatility

TSLS vs. AMDD - Volatility Comparison

The current volatility for Direxion Daily TSLA Bear 1X ETF (TSLS) is 19.07%, while Direxion Daily AMD Bear 1X Shares (AMDD) has a volatility of 25.73%. This indicates that TSLS experiences smaller price fluctuations and is considered to be less risky than AMDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLS	AMDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.07%	25.73%	-6.66%
Volatility (6M) Calculated over the trailing 6-month period	33.98%	57.87%	-23.89%
Volatility (1Y) Calculated over the trailing 1-year period	46.81%	71.61%	-24.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.98%	68.25%	-9.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	58.98%	68.25%	-9.27%

TSLS vs. AMDD - Expense Ratio Comparison

TSLS has a 0.95% expense ratio, which is lower than AMDD's 0.97% expense ratio.

Dividends

TSLS vs. AMDD - Dividend Comparison

TSLS's dividend yield for the trailing twelve months is around 2.36%, less than AMDD's 13.11% yield.

Position	TTM	2025	2024	2023	2022
AMDD Direxion Daily AMD Bear 1X Shares	13.11%	5.51%	0.00%	0.00%	0.00%
TSLS Direxion Daily TSLA Bear 1X ETF	2.36%	4.30%	7.62%	4.52%	3.46%

Frequently Asked Questions

Can I hold both TSLS and AMDD in my portfolio?

TSLS and AMDD have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSLS or AMDD?

AMDD has higher volatility (25.73%) compared to TSLS (19.07%). In terms of maximum drawdown, TSLS dropped -90.73% vs AMDD's -91.84%.

Which ETF is better, TSLS or AMDD?

On 1-year performance, TSLS leads with -14.97% vs -77.13% for AMDD. On fees, TSLS is cheaper at 0.95% per year. On volatility, TSLS has been the lower-risk option at 19.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLS or AMDD?

Over the 1-year period, TSLS has performed better with a -14.97% return vs -77.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLS or AMDD?

TSLS is cheaper with a 0.95% expense ratio, compared with 0.97% for AMDD.

Which ETF pays a higher dividend yield, TSLS or AMDD?

AMDD has the higher dividend yield at 13.11%, compared with 2.36% for TSLS.

What is the main difference between TSLS and AMDD?

Their fees differ too: 0.95% for TSLS and 0.97% for AMDD.

Which has better risk-adjusted returns?

TSLS currently has the higher Sharpe Ratio (-0.28 vs -1.07), 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.