At a glance
AMZU charges 0.99% a year. It has $380.2M in assets; it paid 5.73% of its price in distributions over the past 12 months, quarterly. Over the past year it returned −0.1% with distributions reinvested (S&P 500: +11.5%); over three years it returned +22.3% a year.
The short version
Direxion Daily AMZN Bull 2X Shares (AMZU) aims to deliver twice the daily return of one stock, Amazon.com (AMZN). It gets most of that exposure through swap agreements with large banks. The leverage resets every trading day, so results over weeks or months can differ sharply from twice Amazon's return. It charges 0.99% a year and swings hard: it rose about 118% in 2023, and its deepest drop was 55.6%.
Price history
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AMZU -0.1% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| AMZU official prospectus, to Dec 31, 2025 | — | -11.69% | — | — | — | +15.46% |
| AMZU price data to Oct 27, 2026 | +0.6% | -0.1% | +22.3% | — | — | +11.2% |
- Over the year to Oct 27, 2026, AMZU returned -0.1%.
- Its worst full calendar year was 2025 (-11.7%); its best was 2023 (+118.5%).
- The deepest fall in its price history was 55.6% (Sep 12, 2022 to Dec 28, 2022), recovered by Dec 18, 2023.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +0.6% | — |
| 2025 | -11.7% | -11.69% |
| 2024 | +60.9% | +61.12% |
| 2023 | +118.5% | +118.46% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.5300 | |
| 2025 | $2.1300 | +34.8% |
| 2024 | $1.5800 | +75.6% |
| 2023 | $0.9000 |
What's inside
As of Jul 31, 2026, most of the fund sat in cash, Treasury bills and money-market holdings (71.02% of net assets), with its exposure coming from 4 swap and futures positions rather than from owning the stocks outright.
| Holding | Weight | |
|---|---|---|
| AMAZON.COM INC | 6.80% |
By country
United States 6.8%By asset type
Stocks 6.8%What changed recently
- Over the three months to Jul 31, 2026, investors withdrew a net $53.3M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +3.02%, -24.14%, +25.61%.
How it works
AMZU does not track an index. Its prospectus (filed February 26, 2026) says it seeks 200% of Amazon's daily performance, before fees and expenses, for a single trading day only. It must invest at least 80% of net assets in Amazon shares and in financial instruments, such as swaps and options, that together provide 2× exposure. Its main tool is the swap agreement, a contract in which a bank agrees to pay the fund Amazon's return. As of July 31, 2026, Amazon shares were about 6.8% of assets and four swap positions about 12.7%. Cash and short-term holdings made up about 71%.
At each market close, the adviser, Rafferty Asset Management, resets exposure to 2× net assets. After Amazon rises, it adds exposure. After a fall, it cuts back. Portfolio turnover was 56%. Because each day's return compounds on the last, returns over longer periods will very likely differ from twice Amazon's. The prospectus warns that the fund loses money if Amazon stays flat over time. It can even lose money while Amazon rises.
The fund is non-diversified and concentrated in a single retail company. It depends on a small number of bank counterparties and may lend up to one-third of its assets. Its board can change the objective without a shareholder vote.
What it really costs
- AMZU charges 0.99% a year.
- Of that, 0.75% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $101 in the first year and $1,213 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| AMZU | $101 | $315 | $547 | $1,213 |
Structure and tax notes
- Resets its exposure every day. Over periods longer than a day, compounding means returns can differ sharply from 2× the index — usually worse in choppy markets. Built for short-term trading, not buy-and-hold.
In a retirement portfolio
It is a daily-reset, 2× leveraged bet on a single stock, built for one-day results rather than long-term holding.
AMZU adds no diversification and no steady income. It launched in September 2022, so it has no record in the 2008 crisis, the 2020 COVID crash or most of the 2022 bear market. Its deepest drop was 55.6%, from September 12 to December 28, 2022, and it took about 11.7 months to recover. Its weakest calendar year was 2025, at −11.69%, and its worst quarter (ended March 31, 2025) lost 28.24%. Someone who had to draw money after drops like these would lock in large losses. Annualized volatility, a measure of how widely prices swing, was 67% over the year to October 27, 2026. The fund pays distributions quarterly, with a trailing yield of 5.73% as of that date. That income is small next to the price swings. The fund costs 0.99% a year. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Active traders who want twice Amazon's daily move and can monitor positions every trading day.
- Short-term traders willing to pay 0.99% a year and accept bank counterparty risk from swap agreements for positions held days, not years.
- Experienced investors who understand how daily resets can erode returns when Amazon swings up and down.
Look elsewhere if
- Retirees who may need to draw money: the fund fell 55.6% between September and December 2022.
- Investors wanting diversification: all of its exposure comes from one company, Amazon, in the retail industry.
- Income seekers: its quarterly distributions came with 67% annualized volatility over the year to October 27, 2026.
Close alternatives
Matched by leveraged/inverse funds on the same index (the index could not be identified from the name).
No close alternatives found.
Questions investors ask
Is AMZU good for long-term investing?
AMZU is not built for long-term holding. Its prospectus says it seeks 2× Amazon's return for one trading day only. Over longer periods, daily compounding means its returns will very likely differ from twice Amazon's, and it can lose money even while Amazon rises. Its record shows how wide the swings are: up 118.46% in 2023, up 61.12% in 2024 and down 11.69% in 2025. Its deepest drop was 55.6%.
What's the difference between AMZU and owning Amazon stock?
AMZU aims for twice Amazon's daily move. Owning AMZN directly gives one-for-one exposure with no fund fee. AMZU charges 0.99% a year, relies on swap agreements with banks and resets its leverage every day, so its long-term return is not simply double Amazon's. A direct stock holding carries no counterparty risk and no daily rebalancing. A holding in AMZU can lose all of its value faster than Amazon shares themselves.
Does AMZU pay dividends?
Yes. AMZU has paid distributions quarterly. In the 12 months through October 27, 2026, they totaled about $1.98 per share, a trailing yield of about 5.73%. Payouts from a leveraged fund can vary a lot from one period to the next. They are also small compared with its price swings: annualized volatility was 67% over that year, and the price return over the same 12 months was about −0.1%.
What is AMZU's expense ratio?
AMZU's expense ratio is 0.99% a year, according to its prospectus filed February 26, 2026. That includes a 0.75% management fee. The SEC's standard example assumes $10,000 invested, a 5% annual return and shares cashed out at the end of each period. On that basis, costs would be about $101 after 1 year, $315 after 3 years, $547 after 5 years and $1,213 after 10 years.
Can you lose all your money in AMZU?
Yes. The prospectus warns that investors could lose all of their money in the fund. Because AMZU's exposure is 2× Amazon's daily move, a severe one-day drop in Amazon could wipe out most or all of its value. It also faces counterparty risk: if a swap bank fails to pay, the fund loses money. Its deepest decline so far was 55.6%, from September 12 to December 28, 2022. It took about 11.7 months to recover.