Which came closer to its stated multiple, AMZD or AMZG?

Over the window to Sep 30, 2026, AMZD finished 2.5 points from what its multiple implies and AMZG finished 1.8 points from its own, so AMZG came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are AMZD and AMZG levered on the same thing?

Yes. Both are levered on Amazon.com, AMZD at -1 times and AMZG at +2 times the daily move.

Which one decays faster, AMZD or AMZG?

Decay follows how much the underlying moves about. Over this window AMZD’s moved at 41% annualized and AMZG’s at 21%, so AMZD has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold AMZD or AMZG 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, AMZD or AMZG?

AMZD charges 1.02% a year and AMZG charges 0.75%, so AMZG is cheaper. Fees come from each fund's prospectus.

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AMZD vs AMZG: which held to its multiple?

Over a month against its own daily promise, AMZD finished 0.4 points over and AMZG 1.6 points short. Direxion Daily AMZN Bear 1X ETF and Leverage Shares 2X Long AMZN Daily ETF.

−5.6%

AMZD returned, 3 months

−4.5%

AMZG returned, since launch

−2.5 pts

AMZD from its stated multiple

−7.1 pts

AMZG from its stated multiple

AMZD · 3 months to Sep 30, 20262.5 pts short of its stated multiple

AMZD returned −5.6% while −1 times AMZN's move would have been −3.1%

AMZG · 1 month to Sep 30, 20261.8 pts short of its stated multiple

AMZG returned −10.0% while 2 times AMZN's move would have been −8.2%

Performance, window by window

	Total return		Multiple would give		Difference
Window	AMZD	AMZG	AMZD	AMZG	AMZD	AMZG
1 month	+4.2%	−10.0%	+4.1%	−8.2%	+0.1 pts	−1.8 pts
3 months	−5.6%	not published	−3.1%	not published	−2.5 pts	not published
6 months	−18.6%	not published	−18.3%	not published	−0.3 pts	not published
1 year	−16.8%	not published	−13.5%	not published	−3.4 pts	not published
3 years	−53.9%	not published	−96.0%	not published	+42.1 pts	not published
Since launch AMZD Sep 2022 · AMZG Jul 2026	−57.1%	−4.5%	−92.4%	+2.6%	+35.3 pts	−7.1 pts

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

On the same fields

AMZD

Direxion Daily AMZN Bear 1X ETF · Aims to return 1 times the opposite of the daily move of Amazon.com (AMZN)

AMZG

Leverage Shares 2X Long AMZN Daily ETF · Aims to return twice the daily move of Amazon.com (AMZN)

Issuer Direxion Leverage Shares

Sets out to return -1x +2x

Underlying asset AMZN AMZN

Segment company company

Fund returned, 3 months or since launch −5.6% −10.0%

Underlying returned, over that window +3.1% −4.1%

What the stated multiple implies, over that window −3.1% −8.2%

Difference from stated, over that window −2.5 pts −1.8 pts

Fund returned, 1 year or since launch −16.8% −4.5%

Difference from stated, over that window −3.4 pts −7.1 pts

Underlying volatility 41% 21%

Difference over the days both have traded no shared window −1.8 pts

Expense ratio 1.02% 0.75%

Launched Sep 7, 2022 Jul 7, 2026

Net assets $14m $2m

AMZD and AMZG on the same fields, as of Sep 30, 2026. Source: ETFIQ.

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 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. 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.

AMZG in plain words

One month to Sep 30, 2026: AMZG returned −10.0% where its own daily promise gave −8.4%, 1.6 points short. Read the multiple against the whole window instead and 2 times AMZN's −4.1% implies −8.2%, which makes AMZG look 1.8 points short. 0.2 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. AMZG aims to return +2 times AMZN'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. AMZN moved at 21% annualized over that window.

Questions people ask

Which came closer to its stated multiple, AMZD or AMZG?: Over the window to Sep 30, 2026, AMZD finished 2.5 points from what its multiple implies and AMZG finished 1.8 points from its own, so AMZG came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are AMZD and AMZG levered on the same thing?: Yes. Both are levered on Amazon.com, AMZD at -1 times and AMZG at +2 times the daily move.
Which one decays faster, AMZD or AMZG?: Decay follows how much the underlying moves about. Over this window AMZD’s moved at 41% annualized and AMZG’s at 21%, so AMZD has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold AMZD or AMZG 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, AMZD or AMZG?: AMZD charges 1.02% a year and AMZG charges 0.75%, so AMZG is cheaper. Fees come from each fund's prospectus.

Other comparisons

AMZD vs AMZO AMZD vs AMZU AMZD vs AMZZ AMZD vs AMAA AMZG vs AMZO AMZG vs AMZU AMZG vs AMZZ AMZG vs AMAA

AMZD on its own →AMZG on its own →How every figure is computed →Standards and sources →

Where these figures came from

AMZD filings on SEC EDGAR ↗AMZD prospectus with the expense ratio (SEC) ↗Direxion website ↗AMZG filings on SEC EDGAR ↗AMZG prospectus with the expense ratio (SEC) ↗Leverage Shares website ↗

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, AMZD against AMZG, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/amzd-vs-amzg

Open data

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