AMDD vs SPY
Direxion Daily AMD Bear 1X ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | AMDD | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.03% | 0.09% | |
| AUM | $20M | $789.1B | |
| Dividend Yield | 15.06% | 1.01% | |
| Holdings | 8 | 505 | |
| YTD Return | -65.64% | +13.39% | |
| 1Y Return | -76.98% | +22.52% | |
| 3Y Return (annualized) | - | +21.36% | |
| 5Y Return (annualized) | - | +13.19% | |
| Volatility (annualized) | 63.5% | 15.3% | |
| Max Drawdown | -91.8% | -56.5% | |
| Fund Family | Direxion Shares ETF Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Feb 12, 2025 | Jan 22, 1993 |
AMDD vs SPY Performance
Direxion Daily AMD Bear 1X ETF (AMDD) is a ETF from Direxion Shares ETF Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year AMDD returned -76.98% while SPY returned +22.52%. Year to date, AMDD is down 65.64% versus a gain of 13.39% for SPY.
Risk: Volatility and Drawdowns
AMDD has been the more volatile fund, with annualized monthly volatility of 63.5% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -91.8% for AMDD and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at -0.57. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
AMDD charges 1.03% per year while SPY charges 0.09%. On a $10,000 position that is $103 vs $9 annually, a gap of $94 per year that compounds over a long holding period. On income, AMDD currently yields 15.06% against 1.01% for SPY.
Holdings Overlap
AMDD and SPY share 0 holdings out of 508 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, AMDD or SPY?
AMDD has an expense ratio of 1.03% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $94 per year of difference.
Which performed better, AMDD or SPY?
Over the past year AMDD returned -76.98% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), AMDD annualized -74.50% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, AMDD or SPY?
AMDD has been the more volatile fund at 63.5% annualized versus 15.3% for SPY. Worst drawdown: AMDD -91.8% vs SPY -56.5%.
Should I hold both AMDD and SPY?
AMDD and SPY have a monthly-return correlation of -0.57, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AMDD and SPY?
AMDD and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 508 unique securities.
Which pays a higher dividend, AMDD or SPY?
AMDD yields 15.06% while SPY yields 1.01%, so AMDD currently pays the higher dividend yield.
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