AMZD vs MUZ: Grades, Fees and Holdings Compared

Direxion Daily AMZN Bear 1X ETF

AMZDANasdaq

Defiance Daily Target 2X Short MU ETF

MUZCNYSE Arca

Overlap

0.0%by weight

Expense ratio

AMZD −0.29pt a year

AMZD1.02%MUZ1.31%

Avg volume · 30D

AMZD 1.1×the volume

AMZD12.2MMUZ11.2M

AMZD vs MUZ Performance

Jul 31, 2026 – Nov 2, 2026

+9.7%AMZD−27.2%MUZ

Expense ratio: AMZD 1.02%, better; MUZ 1.31%
Fund size: AMZD $18M; MUZ $9M
1Y total return: AMZD −5.6%; MUZ No data
Yield (12M): AMZD 2.71%; MUZ No data
Holdings: AMZD 3; MUZ 2
Avg volume (30D): AMZD 12.2M sh, better; MUZ 11.2M sh
NAV per share: AMZD $9.03; MUZ $8.92
52W range

ETF.net Grade

Pillar letters and Scores for AMZD, MUZ, with each pillar’s weight
Pillar	AMZD	MUZ
Cost30% weight	A78Higher	C49
Mission25% weight	A96	Not scored
Risk15% weight	A72Higher	D38
Tradability15% weight	A74Higher	B66
Holdings10% weight	Not scored	Not scored
Durability5% weight	A70Higher	C42

Rank among Single-Stock Inverse funds

How we build Categories ›

Same Category. AMZD and MUZ 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 MUZ 23rd of 43 funds in the Single-Stock Inverse Category.

Rank 1AAAPDDirexion Daily AAPL Bear 1X ETFScore 86
Rank 2ATSDDGraniteShares 2x Short TSLA Daily ETFScore 84
Rank 3ATSLSDirexion Daily TSLA Bear 1X ETFScore 81
Rank 4AAMZDDirexion Daily AMZN Bear 1X ETFScore 80
Rank 4APLTDDirexion Daily PLTR Bear 1X ETFScore 80
Rank 23CCONIGraniteShares 2x Short COIN Daily ETFScore 50
Rank 23CMUZDefiance Daily Target 2X Short MU ETFScore 50
Rank 25CIONZDefiance Daily Target 2x Short IONQ ETFScore 41

Our read on each fund

ETF.net Research

AMZDADirexion Daily AMZN Bear 1X ETF

MUZCDefiance Daily Target 2X Short MU 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.

MUZ The first ETF to put -2X daily on Micron, doubling the depth of the -1X bear option that came before it. A trader's tool for memory-chip swings: no margin account, no borrowed shares, just a ticker.

Stated mandate

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

MUZ The Fund seeks daily inverse investment results equal to negative two times the daily percentage change in Micron Technology, Inc.'s common stock.

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.

MUZ Deepest inverse exposure on Micron in a fund wrapper: it aims for -200% of the stock's daily move, where the bear funds that preceded its 2026 launch targeted -100%.defianceetfs.com direxion.com
Shorts Micron without a margin account or locating borrow. The fund builds the position with swap agreements and listed options inside a standard 1940-Act ETF.defianceetfs.com defianceetfs.com 2
At 1.31%, the expense ratio sits right at the median for leveraged and inverse single-stock funds, so the extra torque doesn't come at a premium price.
Heavily traded for a young single-stock fund, which is what you want in a vehicle designed to be held for days, not quarters.

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.

MUZ The -2X target resets daily. Over longer holds, results track the path Micron takes, not simply where the stock ends up.defianceetfs.com
Bear-1X peers like AAPD and TSLS charge under 1%. Two times the inverse costs more than one.
One stock, one direction, non-diversified by design, and a modest asset base for the category. Micron earnings nights land at double speed.defianceetfs.com

Full AMZD profile⁠

Full MUZ profile⁠

AMZD vs MUZ Holdings

How AMZD and MUZ differ

Overlap by weight

0.0%

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

Level by level

Holdings0 in both0.0%
Asset classLeveraged/Inverse100%

Sector

No Sector split for AMZD and MUZ.

Country, concentration and asset class

Country by domicile

No country split for AMZD.

Concentration

Weight in the 10 largest Holdings

AMZD1816.7%
MUZ300.0%

Securities held

AMZD1
MUZ1

Asset class

AMZD: Leveraged/Inverse
MUZ: Leveraged/Inverse

Holdings

Only in AMZD1
In both0
Only in MUZ1

Only in AMZD

1 security, 100% of AMZD by weight

Goldman Finl Sq Trsry Inst 506597.32%

Only in MUZ

1 security, 0.1% of MUZ by weight

United States Treasury Bill 11/19/20260.10%

Weight gaps

AMZD and MUZ share no securities.

All 7 AMZD holdings⁠All 7 MUZ 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 MUZ Cost

Overpaying MUZ vs AMZD

$4,507

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

AMZD 1.02%
$19,012
MUZ 1.31%
$23,519

Amount$10,000

Years30 years

Cost over time

AMZD 1.02%
MUZ 1.31%
Overpaying

Year by year

Year	AMZD	MUZ	Overpaying
10	$1,797	$2,280	$483
20	$6,746	$8,450	$1,704
30	$19,012	$23,519	$4,507

Expense ratio

1.02%AMZD, cheaper
1.31%MUZ

AMZD1.02%MUZ1.31%

0.75%2.31%

Middle half of Single-Stock Inverse funds
Median 1.05%

AMZD 12th cheapest of 43 funds

MUZ 27th cheapest of 43 funds

AMZD vs MUZ Dividends

Last 12 months to Nov 2, 2026

Yield (12M): AMZD 2.71%; MUZ No data
Payout (12M): AMZD $0.24; MUZ None
Last payment: AMZD $0.05; MUZ No data
Ex-dividend: AMZD Sep 22, 2026; MUZ No data
Paid on: AMZD Sep 29, 2026; MUZ No data
Frequency: AMZD Quarterly; MUZ No data

Distribution history

Per share, 2022 to 2026, same scale for both

AMZDQuarterly · 18 paymentsAll AMZD payments⁠

MUZAll MUZ payments⁠

No distribution history available.

AMZD vs MUZ 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%MUZ No data
Return per unit of riskSharpe ratio, 3 years: AMZD −0.86MUZ No data
Worst fallMax drawdown, 5 years: AMZD −74.7%since Sep 2022MUZ No data
Market sensitivityBeta, 5 years: AMZD −1.26MUZ 0.00; Market = 1

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