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AMZD vs QBTZ

Direxion Daily AMZN Bear 1X ETF

AMZDANasdaq

Defiance Daily Target 2X Short QBTS ETF

QBTZDNasdaq

Overlap

Expense ratio

AMZD −1.29pt a year

AMZD1.02%QBTZ2.31%

Avg volume · 30D

AMZD 28.9×the volume

AMZD12.3MQBTZ425K

AMZD vs QBTZ Performance

Nov 7, 2025 – Nov 9, 2026

−13.5%AMZD−88.9%QBTZ

Nov 7, 2025 to Nov 9, 2026. AMZD −13.5%. QBTZ −88.9%. Use the arrow keys to read each point.−50%50%Nov 2025May 2026Nov 2026
Expense ratio
AMZD 1.02%, better
QBTZ 2.31%
Fund size
AMZD $16M
QBTZ $3M
1Y total return
AMZD −13.5%, better
QBTZ −88.9%
Yield (12M)
AMZD 2.96%
QBTZ No data
Holdings
AMZD 3
QBTZ 3
Avg volume (30D)
AMZD 12.3M sh, better
QBTZ 425K sh
NAV per share
AMZD $8.34
QBTZ $29.06
52W range

ETF.net Grade

AMZD: Cost 78, Risk 68, Mission 98, Tradability 73, Holdings not scored, Durability 71. QBTZ: Cost 0, Risk 29, Mission 99, Tradability 25, Holdings not scored, Durability 36.
Pillar letters and Scores for AMZD, QBTZ, with each pillar’s weight
PillarAMZDQBTZ
Cost30% weightA78HigherF0
Mission25% weightA98A99Higher
Risk15% weightB68HigherD29
Tradability15% weightA73HigherD25
Holdings10% weightNot scoredNot scored
Durability5% weightA71HigherD36

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 QBTZ 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 QBTZ 34th of 43 funds in the Single-Stock Inverse Category.

  1. Rank 1AAAPDDirexion Daily AAPL Bear 1X ETFScore 84
  2. Rank 2ATSDDGraniteShares 2x Short TSLA Daily ETFScore 83
  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 27CTSMZDirexion Daily TSM Bear 1X ETFScore 40
  7. Rank 34DQBTZDefiance Daily Target 2X Short QBTS ETFScore 38
  8. Rank 34DRGTZDefiance Daily Target 2X Short RGTI ETFScore 38

Our read on each fund

ETF.net Research

AMZDADirexion Daily AMZN Bear 1X ETF

QBTZDDefiance Daily Target 2X Short QBTS 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.

QBTZ The first 2X short ETF on D-Wave Quantum. QBTZ aims to deliver -200% of QBTS's move for one trading day at a time, then resets, so it is a trading tool rather than a long-haul quantum bet.

Stated mandate

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

QBTZ QBTZ seeks daily inverse results equal to -200% of the daily percentage change in D-Wave Quantum Inc.'s share price. It is designed for short-term use and does not target results over periods longer than one trading day.

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.
  • QBTZ Does what the label says: -200% of D-Wave Quantum's daily percentage change, reset each session. In our tracking review it lands close to that stated one-day target.defianceetfs.com
  • Shorting a quantum stock usually means a margin account and locating a borrow. QBTZ packages amplified inverse exposure into one ticker in a regular brokerage account.defianceetfs.com
  • One ticker, no options chain. No strikes, no expiry calendar, no premium decay to manage; the inverse exposure is reset for you at the end of each trading day.defianceetfs.com

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.
  • QBTZ Costs 2.31%, above what this category typically charges. Cheaper bear peers exist, including TSDD at 0.95% net of a waiver through December 31, 2026 and SKHZ at 0.75%.
  • The -200% target applies to a single day. Over longer holds, daily compounding can push results well away from -2x the period move, in either direction.defianceetfs.com
  • A 2025 launch with assets at the small end of its category and a short risk history, which is part of why it sits in the lower half of its peer group here.

Full AMZD profile⁠

Full QBTZ profile⁠

AMZD vs QBTZ 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 QBTZ Cost

Overpaying QBTZ vs AMZD

$17,560

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

  • AMZD 1.02%

    $19,012

  • QBTZ 2.31%

    $36,572

$10,000
30 years

Cost over time

  • AMZD 1.02%
  • QBTZ 2.31%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K$40K051015202530QBTZ $36,572AMZD $19,012

Year by year

YearAMZDQBTZOverpaying
10$1,797$3,857$2,060
20$6,746$13,687$6,941
30$19,012$36,572$17,560

Expense ratio

  • 1.02%AMZD, cheaper
  • 2.31%QBTZ
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

AMZD 12th cheapest of 43 funds

QBTZ 43rd cheapest of 43 funds

AMZD vs QBTZ Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
AMZD 2.96%
QBTZ No data
Payout (12M)
AMZD $0.24
QBTZ None
Last payment
AMZD $0.05
QBTZ No data
Ex-dividend
AMZD Sep 22, 2026
QBTZ No data
Paid on
AMZD Sep 29, 2026
QBTZ No data
Frequency
AMZD Quarterly
QBTZ 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
QBTZAll QBTZ payments⁠

No distribution history available.

AMZD vs QBTZ 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%QBTZ 204.4%since Nov 2025
Return per unit of riskSharpe ratio, 3 years
AMZD −0.86QBTZ 0.36since Nov 2025
Worst fallMax drawdown, 5 years
AMZD −74.7%since Sep 2022QBTZ −96.6%since Oct 2025
Market sensitivityBeta, 5 years
AMZD −1.36QBTZ −8.19

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