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AMZD vs IREZ

Direxion Daily AMZN Bear 1X ETF

AMZDANasdaq

Tradr 2X Short IREN Daily ETF

IREZBCboe

Overlap

0.0%by weight

Expense ratio

AMZD −0.47pt a year

AMZD1.02%IREZ1.49%

Avg volume · 30D

AMZD 6.0×the volume

AMZD12.2MIREZ2.03M

AMZD vs IREZ Performance

Jul 31, 2026 – Nov 2, 2026

+9.7%AMZD+63.4%IREZ

Jul 31, 2026 to Nov 2, 2026. AMZD +9.7%. IREZ +63.4%. Use the arrow keys to read each point.−50%−25%25%50%Jul 2026Sep 2026Nov 2026
Expense ratio
AMZD 1.02%, better
IREZ 1.49%
Fund size
AMZD $18M
IREZ $10M
1Y total return
AMZD −5.6%
IREZ No data
Yield (12M)
AMZD 2.71%
IREZ No data
Holdings
AMZD 3
IREZ 2
Avg volume (30D)
AMZD 12.2M sh, better
IREZ 2.03M sh
NAV per share
AMZD $9.03
IREZ $26.56
52W range

ETF.net Grade

AMZD: Cost 78, Risk 72, Mission 96, Tradability 74, Holdings not scored, Durability 70. IREZ: Cost 25, Risk 40, Mission 97, Tradability 67, Holdings not scored, Durability 39.
Pillar letters and Scores for AMZD, IREZ, with each pillar’s weight
PillarAMZDIREZ
Cost30% weightA78HigherD25
Mission25% weightA96A97Higher
Risk15% weightA72HigherC40
Tradability15% weightA74HigherB67
Holdings10% weightNot scoredNot scored
Durability5% weightA70HigherD39

Rank among Single-Stock Inverse funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. AMZD and IREZ are both graded against the same 43 Single-Stock Inverse funds, so their Grades compare head to head.

Single-Stock Inverse⁠

Category · 43 funds
See all 43 ›

AMZD ranks 4th and IREZ 22nd of 43 funds in the Single-Stock Inverse Category.

  1. Rank 1AAAPDDirexion Daily AAPL Bear 1X ETFScore 86
  2. Rank 2ATSDDGraniteShares 2x Short TSLA Daily ETFScore 84
  3. Rank 3ATSLSDirexion Daily TSLA Bear 1X ETFScore 81
  4. Rank 4AAMZDDirexion Daily AMZN Bear 1X ETFScore 80
  5. Rank 4APLTDDirexion Daily PLTR Bear 1X ETFScore 80
  6. Rank 21BAMDDDirexion Daily AMD Bear 1X ETFScore 56
  7. Rank 22BIREZTradr 2X Short IREN Daily ETFScore 55
  8. Rank 23CCONIGraniteShares 2x Short COIN Daily ETFScore 50

Our read on each fund

ETF.net Research

AMZDADirexion Daily AMZN Bear 1X ETF

IREZBTradr 2X Short IREN Daily ETF

In short

AMZD Most single-stock bear funds reach for leverage. AMZD skips it: one dollar down for every dollar Amazon rises, for a single trading day, through swaps you buy like any share. 1.02% net of a waiver through September 1, 2027.

IREZ A one-ticker way to lean against IREN Limited. IREZ aims for two times the inverse of the stock's daily move, no margin agreement and no borrowing shares. Daily reset, built around short holding periods.

Stated mandate

AMZD The fund seeks daily inverse investment results tied to AMZN and is materially different from ordinary exchange-traded funds.

IREZ The fund seeks daily investment results corresponding to two times the inverse of the daily performance of IREN Limited.

Why people hold it

  • AMZD Minus one, not minus two. The fund targets 100% of the inverse of Amazon's daily move, so a 3% pop in the stock is roughly a 3% hit here, not 6%.sec.gov
  • Bearish exposure comes from swap agreements and options, not borrowed stock, so the position is a regular buy order in a regular brokerage account.sec.gov
  • Fee lands below the category median: 1.02% net of a waiver through September 1, 2027, against a 1.26% gross rate.
  • Trading since September 2022 and among the more active names in its category, and it has stayed tight to its stated daily target, one of the stronger implementations among inverse single-stock funds.
  • IREZ Targets -2x IREN Limited's daily move from a plain brokerage account: no margin agreement, no locating shares to borrow, and no exposure beyond the money you put in.
  • One job, done tightly. Day to day the fund has landed very close to its stated inverse target, which is the whole ballgame for a leveraged trading vehicle.
  • Actively traded for a fund of its size, so entering and exiting a short-term position is generally the easy part.

Worth knowing

  • AMZD The exposure resets daily. Held across a choppy stretch, compounding can leave the result with little resemblance to minus one times Amazon's move over that stretch.sec.gov
  • That 1.02% rests on a waiver running through September 1, 2027. Without it the fee reverts to the 1.26% gross figure.
  • Assets are modest for the category, and a fund wired to one stock depends on ongoing appetite for that one trade.
  • IREZ The -2x goal resets daily. Hold through a choppy stretch and compounding pulls your result away from twice the stock's move over that span, sometimes sharply.
  • The 1.49% expense ratio sits above several rival inverse single-stock funds, such as MSTZ at 1.05% and TSDD at 1.13%.
  • Launched in 2026 and small, so it carries a short operating history next to the longer-running bear funds in its category.

Full AMZD profile⁠

Full IREZ profile⁠

AMZD vs IREZ Holdings

How AMZD and IREZ differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of AMZD and 0.0% of IREZ.

Level by level

  • Holdings0 in both0.0%
  • Asset classLeveraged/Inverse100%

Sector

No Sector split for AMZD and IREZ.

Country, concentration and asset class

Country by domicile

No country split for AMZD and IREZ.

Concentration

Weight in the 10 largest Holdings

  • AMZD1816.7%
  • IREZ184.8%

Securities held

  • AMZD1
  • IREZ2

Asset class

AMZD
Leveraged/Inverse
IREZ
Leveraged/Inverse

Holdings

  • Only in AMZD1
  • In both0
  • Only in IREZ2

Only in AMZD

1 security, 100% of AMZD by weight

  • Goldman Finl Sq Trsry Inst 506597.32%

Only in IREZ

2 securities, 100% of IREZ by weight

  • Cfd Iren Ltd108.93%
  • Cashusd75.82%

Weight gaps

AMZD and IREZ share no securities.

All 7 AMZD holdings⁠All IREZ holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

AMZD vs IREZ Cost

Overpaying IREZ vs AMZD

$7,129

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • AMZD 1.02%

    $19,012

  • IREZ 1.49%

    $26,141

$10,000
30 years

Cost over time

  • AMZD 1.02%
  • IREZ 1.49%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K051015202530IREZ $26,141AMZD $19,012

Year by year

YearAMZDIREZOverpaying
10$1,797$2,574$777
20$6,746$9,464$2,718
30$19,012$26,141$7,129

Expense ratio

  • 1.02%AMZD, cheaper
  • 1.49%IREZ
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

AMZD 12th cheapest of 43 funds

IREZ 31st cheapest of 43 funds

AMZD vs IREZ Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
AMZD 2.71%
IREZ No data
Payout (12M)
AMZD $0.24
IREZ None
Last payment
AMZD $0.05
IREZ No data
Ex-dividend
AMZD Sep 22, 2026
IREZ No data
Paid on
AMZD Sep 29, 2026
IREZ No data
Frequency
AMZD Quarterly
IREZ No data

Distribution history

Per share, 2022 to 2026, same scale for both

AMZDQuarterly · 18 paymentsAll AMZD payments⁠
One bar per payment. 18 payments from 2022 to 2026 YTD. Sep 20, 2022 $0.0084; Dec 8, 2022 $0.69; Dec 20, 2022 $0.14; Mar 21, 2023 $0.24; Jun 21, 2023 $0.29; Sep 19, 2023 $0.45; Dec 21, 2023 $0.21; Mar 19, 2024 $0.17; Jun 25, 2024 $0.17; Sep 24, 2024 $0.14; Dec 23, 2024 $0.11; Mar 25, 2025 $0.10; Jun 24, 2025 $0.07; Sep 23, 2025 $0.11; Dec 23, 2025 $0.08; Mar 24, 2026 $0.05; Jun 23, 2026 $0.06; Sep 22, 2026 $0.05. Use the arrow keys to read each point.$0$0.5020232026YTD
IREZAll IREZ payments⁠

No distribution history available.

AMZD vs IREZ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
AMZD 27.4%IREZ No data
Return per unit of riskSharpe ratio, 3 years
AMZD −0.86IREZ No data
Worst fallMax drawdown, 5 years
AMZD −74.7%since Sep 2022IREZ No data
Market sensitivityBeta, 5 years
AMZD −1.26IREZ −5.89

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