Skip to content
etf.net

AMDD

GradeBNASDAQ Global Select

Direxion Daily AMD Bear 1X ETF

Leveraged · Single-Stock Leveraged · Direxion · Inception 2025-02-12

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$22.42+0.34 (+1.54%)

As of Sep 23, 2026, 2:20 PM EDT

History starts Feb 12, 2025.
Intraday session: up, 59 prints from 22.08 to 22.42. Range 22.11 to 22.61. Use the arrow keys to read each point.$22.20$22.6010 AM12 PM2 PM4 PM
Expense ratio
1.45%
Fund size
$20M
1Y return
−84.1%
Yield · Last 12 months
19.15%
Holdings
3
Volume · 30D
1.2M sh
NAV per share
$25.79
52W range
low $22.05high $150.50

The ETF.net AMDD Grade

B

59/ 100

Rank 21 of 58 in Single-Stock Inverse⁠

Confidence High

Six-pillar profile for AMDD. Scores out of 100: Cost 50, Risk 32, Mission 85, Tradability 59, Holdings not scored, Durability 69. Strongest: Mission (85). Weakest: Risk (32). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 59 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 50
    Category rank29/58 · top 50%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 85
    Category rank27/31 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 32
    Category rank39/48 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 59
    Category rank17/58 · top 29%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 69
    Category rank11/58 · top 19%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on AMDD

ETF.net Research

BA one-day short on AMD, bought like any stock. AMDD aims for 100% of the inverse of AMD's daily move: no margin account, no borrowed shares, and no extra leverage stacked on top.

Stated mandate

The Fund seeks daily investment results equal to 100% of the inverse of AMD’s daily performance, before fees and expenses.

Why people hold it

  1. 01Shorting without the plumbing. One buy order gets inverse AMD exposure, no margin account and no locating shares to borrow.
  2. 02Unleveraged inverse: the daily target is -1x AMD, before fees, so a 5% AMD pop aims for roughly a 5% fund drop, not 10%.
  3. 03Day to day, it has tracked its stated -1x target closely, one of the tighter mandate deliveries among single-stock bear funds.
  4. 04Ordinary 1940 Act fund wrapper, actively traded during market hours, with distributions paid quarterly.

Worth knowing

  1. 01The 1.45% expense ratio sits above other single-stock bear funds, including TSLS at 0.95% and AAPD at 0.96%.
  2. 02The target resets every day. Hold past one session and compounding takes over, so multi-day results can drift far from the inverse of AMD's move.
  3. 03Young and small: launched in 2025 with a modest asset base, and one chipmaker's headlines drive the whole position.

AMDD Holdings

As of Sep 22, 2026, 10:03 PM
Asset class
Other
Holdings
3
Top-10 weight
836%
Largest holding
DREYFUS GOVT CASH MAN INS524.7%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—DREYFUS GOVT CASH MAN INS524.71%13,135,110$13M108
002—GOLDMAN SACHS FIN GOV 465 INSTITUT124.64%3,120,000$3M75
003—DREYFUS TRSRY SECURITIES CASH MGMT121.27%3,035,664$3M82
004—GOLDMAN FINL SQ TRSRY INST 50665.49%1,639,351$2M100

Showing 1–4 of 4 holdings

AMDD Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

AMDD$1,588
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. AMDD $1,588. SPY $11,723. Use the arrow keys to read each point.$774$6,675$12,576Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for AMDD. Periods over one year show the average yearly return.
PeriodAMDD
Year to date−75.8%
1 month−25.9%
3 months−20.7%
1 year−84.1%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for AMDD
YearReturn barAMDD
2026 YTD−75.8%
2025−60.7%

Since listing, Feb 12, 2025

AMDD in the news

ETF.net Research hasn’t filed on AMDD yet — coverage lands here as it’s written.

AMDD Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
19.15%Last 12 months
Payout per share
$4.23Last 12 months
Upcoming payment
$0.24 per share
Pays on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2025–2026

One bar per payment. 7 payments from 2025 to 2026 YTD. Mar 25, 2025 $0.87; Jun 24, 2025 $1.72; Sep 23, 2025 $1.03; Dec 23, 2025 $1.57; Mar 24, 2026 $1.14; Jun 23, 2026 $0.25; Sep 22, 2026 $0.24. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 22, 2026Pays Sep 29, 2026$0.24
Jun 23, 2026Jun 30, 2026$0.25
Mar 24, 2026Mar 31, 2026$1.14
Dec 23, 2025Dec 31, 2025$1.57
Sep 23, 2025Sep 30, 2025$1.03
Jun 24, 2025Jul 1, 2025$1.72
Mar 25, 2025Apr 1, 2025$0.87

AMDD Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
63.6%
Annualised · 18 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
−1.82
vs 3-month T-bills · 18 months to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−93.1%
19 months · trough Sep 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
−2.67
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

AMDD Cost

Expense ratio1.45%
  • The middle half of Single-Stock Inverse funds
  • Median 1.35%

24 of the 43 Single-Stock Inverse funds charge less.

AMDD costs $145.00 a year on $10,000. The median Single-Stock Inverse fund costs $135.00.