AMDD vs DAMD: which held to its multiple?
Over three months against its own daily promise, AMDD finished 1.7 points over and DAMD 0.4 points over. Direxion Daily AMD Bear 1X ETF and Defiance Daily Target 2X Short AMD ETF.
AMDD costs 0.27 points a year less; DAMD is 1.7 times larger.
| AMDD | DAMD | |
|---|---|---|
| Expense ratio | 1.03% | 1.30% |
| Net assets, as of Oct 8, 2026 | $21m | $36m |
| Total return, 1 year | −74.5% | not published |
| What it tracks | AMD | AMD |
| Holdings in common | not published | |
| What its daily multiple gave, 3 months | −17.1% | −38.5% |
| What the underlying did, 3 months | AMD 9.0% | AMD 9.0% |
AMDD returned −15.4% while −1 times AMD's move would have been −9.0%. Figures from Jul 10, 2026 to Oct 9, 2026.
AMDD returned −15.4% while −1 times AMD's move would have been −9.0%. Figures from Jul 10, 2026 to Oct 9, 2026.
DAMD returned −38.1% while −2 times AMD's move would have been −18.0%. Figures from Jul 10, 2026 to Oct 9, 2026.
DAMD returned −38.1% while −2 times AMD's move would have been −18.0%. Figures from Jul 10, 2026 to Oct 9, 2026.
A percentile among the 128 inverse ETFs over three months. All leveraged ETFs ranked by it → How it is computed →
Performance, window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | AMDD | DAMD | AMDD | DAMD | AMDD | DAMD |
| 1 month | −15.9% | −31.9% | −16.7% | −33.4% | +0.8 pts | +1.5 pts |
| 3 months | −15.4% | −38.1% | −9.0% | −18.0% | −6.4 pts | −20.1 pts |
| 6 months | −68.9% | −93.5% | not meaningful | not meaningful | not meaningful | not meaningful |
| 1 year | −74.5% | not published | not meaningful | not published | not meaningful | not published |
| Since launch AMDD Feb 2025 · DAMD Nov 2025 | −90.3% | −95.6% | not meaningful | not meaningful | not meaningful | not meaningful |
Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
As of Oct 9, 2026. Source: ETFIQ.
AMDD in plain words
Three months to Oct 9, 2026: AMDD returned −15.4% where its own daily promise gave −17.1%, 1.7 points over. Read the multiple against the whole window instead and −1 times AMD's 9.0% implies −9.0%, which makes AMDD look 6.4 points short. That 6.4 is two pieces: daily compounding, −8.1 points, which happens to any −1 times fund over the same path, and the fund itself, +1.7 points against its own daily promise. AMDD aims to return -1 times AMD's move each day, then resets. Over one day it does that. 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. AMD moved at 63% 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.
DAMD in plain words
Three months to Oct 9, 2026: DAMD returned −38.1% where its own daily promise gave −38.5%, 0.4 points over. Read the multiple against the whole window instead and −2 times AMD's 9.0% implies −18.0%, which makes DAMD look 20.1 points short. That 20.1 is two pieces: daily compounding, −20.5 points, which happens to any −2 times fund over the same path, and the fund itself, +0.4 points against its own daily promise. DAMD aims to return -2 times AMD's move each day, then resets. 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.
Questions people ask
- Which came closer to its stated multiple, AMDD or DAMD?
- Over the window to Oct 9, 2026, AMDD finished 6.4 points from what its multiple implies and DAMD finished 20.1 points from its own, so AMDD came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are AMDD and DAMD levered on the same thing?
- Yes. Both are levered on Advanced Micro Devices, AMDD at -1 times and DAMD at -2 times the daily move.
- Which one decays faster, AMDD or DAMD?
- Decay follows how much the underlying moves about. Over this window AMDD’s moved at 63% annualized and DAMD’s at 63%, so AMDD has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold AMDD or DAMD 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; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
It is a position in a set, not a rating, and neither end of it is a recommendation.
Every figure is an ETFIQ calculation with distributions reinvested.
ETFIQ, AMDD against DAMD, data as of Oct 9, 2026. https://etfiq.com/compare/leverage/amdd-vs-damd
ETFIQ. (Oct 9, 2026). AMDD against DAMD. Retrieved from https://etfiq.com/compare/leverage/amdd-vs-damd
[AMDD against DAMD (ETFIQ, Oct 9, 2026)](https://etfiq.com/compare/leverage/amdd-vs-damd)
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.