Which came closer to its stated multiple, AMDL or DAMD?

Over the window to Sep 30, 2026, AMDL finished 15.5 points from what its multiple implies and DAMD finished 18.1 points from its own, so AMDL came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are AMDL and DAMD levered on the same thing?

Yes. Both are levered on Advanced Micro Devices, AMDL at +2 times and DAMD at -2 times the daily move.

Which one decays faster, AMDL or DAMD?

Decay follows how much the underlying moves about. Over this window AMDL’s moved at 67% annualized and DAMD’s at 67%, so AMDL has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold AMDL 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.

Which is cheaper, AMDL or DAMD?

AMDL charges 1.07% a year and DAMD charges 1.30%, so AMDL is cheaper. Fees come from each fund's prospectus.

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AMDL vs DAMD: which held to its multiple?

Over three months against its own daily promise, AMDL finished 4.2 points short and DAMD 0.3 points over. GraniteShares 2x Long AMD Daily ETF and Defiance Daily Target 2X Short AMD ETF.

+10.7%

AMDL returned, 3 months

−44.3%

DAMD returned, 3 months

−15.5 pts

AMDL from its stated multiple

−18.1 pts

DAMD from its stated multiple

AMDL · 3 months to Sep 30, 202615.5 pts short of its stated multiple

AMDL returned +10.7% while 2 times AMD's move would have been +26.2%

DAMD · 3 months to Sep 30, 202618.1 pts short of its stated multiple

DAMD returned −44.3% while −2 times AMD's move would have been −26.2%

ETFIQ Decay Resistance Score · DAMD scores higherDid it keep up with its own daily multiple, compounded day by day?

AMDL among the 470 leveraged ETFs, long, over three months

AMDL 20.7

0.1, the lowest in this set99.9, the highest

DAMD among the 125 inverse ETFs over three months

DAMD 23.2

0.4, the lowest in this set99.6, the highest

A percentile among the 470 leveraged ETFs, long, over three months. DAMD 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	AMDL	DAMD	AMDL	DAMD	AMDL	DAMD
1 month	+63.4%	−46.0%	+59.9%	−59.9%	+3.4 pts	+13.9 pts
3 months	+10.7%	−44.3%	+26.2%	−26.2%	−15.5 pts	−18.1 pts
6 months	+506.4%	−95.3%	not meaningful	not meaningful	not meaningful	not meaningful
1 year	+665.5%	not published	not meaningful	not published	not meaningful	not published
Since launch AMDL Mar 2024 · DAMD Nov 2025	+210.0%	−95.6%	not meaningful	not meaningful	not meaningful	not meaningful

AMDL and DAMD over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

AMDL

GraniteShares 2x Long AMD Daily ETF · Aims to return twice the daily move of Advanced Micro Devices (AMD)

DAMD

Defiance Daily Target 2X Short AMD ETF · Aims to return twice the opposite of the daily move of Advanced Micro Devices (AMD)

Issuer GraniteShares Defiance

Sets out to return +2x -2x

Underlying asset AMD AMD

Segment company company

Fund returned, 3 months or since launch +10.7% −44.3%

Underlying returned, over that window +13.1% +13.1%

What the stated multiple implies, over that window +26.2% −26.2%

Difference from stated, over that window −15.5 pts −18.1 pts

Fund returned, 1 year or since launch +665.5% −95.6%

Difference from stated, over that window not available not available

Underlying volatility 67% 67%

Difference over the days both have traded −15.5 pts no shared window

Expense ratio 1.07% 1.30%

Launched Mar 18, 2024 Nov 14, 2025

Net assets $1.4bn $34m

AMDL and DAMD on the same fields, as of Sep 30, 2026. Source: ETFIQ.

AMDL in plain words

Three months to Sep 30, 2026: AMDL returned +10.7% where its own daily promise gave +14.9%, 4.2 points short. Read the multiple against the whole window instead and 2 times AMD's 13.1% implies +26.2%, which makes AMDL look 15.5 points short. 11.2 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. AMDL aims to return +2 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 +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. AMD moved at 67% 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 Sep 30, 2026: DAMD returned −44.3% where its own daily promise gave −44.6%, 0.3 points over. Read the multiple against the whole window instead and −2 times AMD's 13.1% implies −26.2%, which makes DAMD look 18.1 points short. 18.4 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. 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, AMDL or DAMD?: Over the window to Sep 30, 2026, AMDL finished 15.5 points from what its multiple implies and DAMD finished 18.1 points from its own, so AMDL came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are AMDL and DAMD levered on the same thing?: Yes. Both are levered on Advanced Micro Devices, AMDL at +2 times and DAMD at -2 times the daily move.
Which one decays faster, AMDL or DAMD?: Decay follows how much the underlying moves about. Over this window AMDL’s moved at 67% annualized and DAMD’s at 67%, so AMDL has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold AMDL 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.
Which is cheaper, AMDL or DAMD?: AMDL charges 1.07% a year and DAMD charges 1.30%, so AMDL is cheaper. Fees come from each fund's prospectus.

Other comparisons

AMDL vs AMUU AMDL vs AMDC AMDL vs AMDG DAMD vs AMDC DAMD vs AMDG DAMD vs AMUU

AMDL on its own →DAMD on its own →How every figure is computed →Standards and sources →

Where these figures came from

AMDL filings on SEC EDGAR ↗AMDL prospectus with the expense ratio (SEC) ↗GraniteShares page for AMDL ↗DAMD filings on SEC EDGAR ↗DAMD prospectus with the expense ratio (SEC) ↗Defiance page for DAMD ↗

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.

Cite this page

ETFIQ, AMDL against DAMD, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/amdl-vs-damd

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.