{"url":"https://etfiq.com/compare/leverage/ama-vs-apmi","section":"compare","title":"AMA vs APMI: which held to its multiple? | ETFIQ","description":"AMA sets out to return +2 times AMAT each day and APMI +2 times. Over the month to Sep 30, 2026 they finished \u22123.1 pts and \u22121.6 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, AMA or APMI?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, AMA finished 3.9 points from what its multiple implies and APMI finished 1.6 points from its own, so APMI came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are AMA and APMI levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on Applied Materials, AMA at +2 times and APMI at +2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, AMA or APMI?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window AMA\u2019s moved at 65% annualized and APMI\u2019s at 49%, so AMA has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold AMA or APMI for a year?","acceptedAnswer":{"@type":"Answer","text":"Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year\u2019s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way."}},{"@type":"Question","name":"Which is cheaper, AMA or APMI?","acceptedAnswer":{"@type":"Answer","text":"AMA charges 1.31% a year and APMI charges 0.45%, so APMI is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Leveraged ETFs","item":"https://etfiq.com/leverage/"},{"@type":"ListItem","position":3,"name":"AMA vs APMI","item":"https://etfiq.com/compare/leverage/ama-vs-apmi"}]},{"@type":"WebPage","name":"AMA vs APMI: which held to its multiple?","description":"AMA sets out to return +2 times AMAT each day and APMI +2 times. Over the month to Sep 30, 2026 they finished \u22123.1 pts and \u22121.6 pts away.","url":"https://etfiq.com/compare/leverage/ama-vs-apmi","dateModified":"2026-09-30","abstract":"Over the days both have traded, AMA finished 3.1 points from its stated multiple and APMI 1.6.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of AMA and APMI","description":"AMA sets out to return +2 times AMAT each day and APMI +2 times. Over the month to Sep 30, 2026 they finished \u22123.1 pts and \u22121.6 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/ama-vs-apmi","license":"https://etfiq.com/standards/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/leverage.json"}],"variableMeasured":["Stated multiple","Underlying return","What the stated multiple implies","Fund total return","Difference against the label","Volatility of the underlying","Expense ratio"],"keywords":["exchange-traded funds","ETF","Leveraged ETFs","fund data","SEC filings"]}],"characters":6077,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / AMA vs APMI \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n AMA vs APMI: which held to its multiple?\n\n Over the days both have traded, AMA finished 3.1 points from its stated multiple and APMI 1.6.\n Copy this for sharing \n \n Defiance Daily Target 2X Long AMAT ETF and Corgi AMAT 2x Daily ETF.\n\n Download as PDF \n\n \u221246.6% AMA returned, 3 months \n \u221223.3% APMI returned, since launch \n \u22123.9 pts AMA from its stated multiple \n \u22127.9 pts APMI from its stated multiple \n\n AMA 3.9 pts short of its stated multiple \u00b7 3 months to Sep 30, 2026 [AM","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","citation":"ETFIQ, as of Sep 30, 2026. https://etfiq.com/compare/leverage/ama-vs-apmi","a":{"ticker":"AMA","name":"Defiance Daily Target 2X Long AMAT ETF","issuer":"Defiance","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: AMA returned \u221246.6% where its own daily promise gave \u221244.3%, 2.3 points short.","url":"https://etfiq.com/funds/ama","key_facts":[{"label":"What AMAT did","value":"\u221221.4%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"\u221244.3%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221246.6%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22122.3 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$40m","as_of":"2026-09-30","source":"the issuer\u2019s own daily fund list, as of Sep 30, 2026"},{"label":"Expense ratio","value":"1.31%","as_of":"2026-09-30","source":"485BPOS XBRL, Aug 28, 2026"}]},"b":{"ticker":"APMI","name":"Corgi AMAT 2x Daily ETF","issuer":"Corgi","desk":"leverage","as_of":"2026-09-30","verdict":"One month to Sep 30, 2026: APMI returned +21.5% where its own daily promise gave +21.9%, 0.4 points short.","url":"https://etfiq.com/funds/apmi","key_facts":[{"label":"What AMAT did","value":"+11.6%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"+21.9%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"+21.5%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22120.4 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$740,612","as_of":"2026-09-30","source":"the issuer\u2019s own daily fund list, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.45%","as_of":"2026-09-30","source":"485BPOS XBRL, Jun 5, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/leverage/ama-vs-apmi"}