AMAA vs AMZD: which held to its multiple?
Over three months against its own daily promise, AMAA finished 2.4 points short and AMZD 1.3 points over. Corgi AMZN 2x Daily ETF and Direxion Daily AMZN Bear 1X ETF.
AMAA returned +0.1% while 2 times AMZN's move would have been +6.2%
AMZD returned −5.6% while −1 times AMZN's move would have been −3.1%
AMAA among the 470 leveraged ETFs, long, over three months
AMZD among the 125 inverse ETFs over three months
A percentile among the 470 leveraged ETFs, long, over three months. AMZD is a percentile among the 125 inverse ETFs over three months, a different set, so the two marks are not on one scale. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it → How it is computed →
Performance, window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | AMAA | AMZD | AMAA | AMZD | AMAA | AMZD |
| 1 month | −9.3% | +4.2% | −8.2% | +4.1% | −1.2 pts | +0.1 pts |
| 3 months | +0.1% | −5.6% | +6.2% | −3.1% | −6.1 pts | −2.5 pts |
| 6 months | not published | −18.6% | not published | −18.3% | not published | −0.3 pts |
| 1 year | not published | −16.8% | not published | −13.5% | not published | −3.4 pts |
| 3 years | not published | −53.9% | not published | −96.0% | not published | +42.1 pts |
| Since launch AMAA Jun 2026 · AMZD Sep 2022 | +2.9% | −57.1% | +9.1% | −92.4% | −6.2 pts | +35.3 pts |
AMAA and AMZD over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
AMAA and AMZD on the same fields, as of Sep 30, 2026. Source: ETFIQ.
AMAA in plain words
Three months to Sep 30, 2026: AMAA returned +0.1% where its own daily promise gave +2.5%, 2.4 points short. Read the multiple against the whole window instead and 2 times AMZN's 3.1% implies +6.2%, which makes AMAA look 6.1 points short. 3.6 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. AMAA aims to return +2 times AMZN's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. AMZN moved at 41% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
AMZD in plain words
Three months to Sep 30, 2026: AMZD returned −5.6% where its own daily promise gave −7.0%, 1.3 points over. Read the multiple against the whole window instead and −1 times AMZN's 3.1% implies −3.1%, which makes AMZD look 2.5 points short. 3.9 of that is daily compounding, which happens to any −1 times fund over the same path, and the rest is the fund. AMZD aims to return -1 times AMZN's move each day, then resets. Over longer, the daily results compound, so the total is not -1 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more.
Questions people ask
- Which came closer to its stated multiple, AMAA or AMZD?
- Over the window to Sep 30, 2026, AMAA finished 6.1 points from what its multiple implies and AMZD finished 2.5 points from its own, so AMZD came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are AMAA and AMZD levered on the same thing?
- Yes. Both are levered on Amazon.com, AMAA at +2 times and AMZD at -1 times the daily move.
- Which one decays faster, AMAA or AMZD?
- Decay follows how much the underlying moves about. Over this window AMAA’s moved at 41% annualized and AMZD’s at 41%, so AMAA has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold AMAA or AMZD for a year?
- 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’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.
ETFIQ, AMAA against AMZD, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/amaa-vs-amzd
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, AMAA against AMZD, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/amaa-vs-amzd Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, AMAA against AMZD, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/amaa-vs-amzd
- APA
- ETFIQ. (Sep 30, 2026). AMAA against AMZD. Retrieved from https://etfiq.com/compare/leverage/amaa-vs-amzd
- Markdown
- [AMAA against AMZD (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/amaa-vs-amzd)