AMZZ +2x GraniteShares 2x Long AMZN Daily ETF

AMZZ

ETF +2x BULL standard
GraniteShares 2x Long AMZN Daily ETF
Issuer: GraniteShares · Tracks: AMZN · Listed: 2024-03-15
Implied AUM
$46.1M
Last Close
$33.63
20260720
30d Avg Vol
166,494
Options
available
Realized return vs theoretical +2x AMZN
Pair counterpart found: AMZO (-2x bear, Tradr 2X Short AMZN Daily ETF)
Shorting both legs of a daily-reset bull/bear pair captures combined decay drift over time. Theoretical "free money" — actual edge depends on borrow rates (often punitive on the bear leg) and assignment risk on hard-to-borrow products.
Other leveraged products tracking AMZN
Symbol Factor Direction Issuer Name Implied AUM 30d Vol Options
AMZU +2x BULL Direxion Direxion Shares ETF Trust Direxion Daily AMZN Bull 2X ETF $334.1M 3,408,776
AMZG +2x BULL Leverage Shares Leverage Shares 2X Long AMZN Daily ETF $234300 7,939
AMZO -2x BEAR Tradr Tradr 2X Short AMZN Daily ETF $820690 13,822

How AMZZ works

AMZZ targets +2x the daily return of AMZN — not the cumulative return over multi-day windows. The fund rebalances at the close each day using swaps or futures, which is what creates the volatility drag the chart above visualizes.

Mathematical headline: drag ≈ −0.5 × N × (N−1) × σ² per period. For a +2x product on an underlying with 25% annualized vol, expected annual drag is around 6.2%. Add expense ratio and the realized number is typically worse.

  • Short-term tactical: daily and intraday holds are where these products were designed to live.
  • Premium selling: options on AMZZ carry very rich IV — see the quote page for IV rank and straddle pricing.
  • Multi-day directional: works in strong trends; gets eaten alive in chop. Use the chart above to gauge the realized vs theoretical track record.