Direxion Daily AMD Bear 1X ETF (AMDD)

The Direxion Daily AMD Bear 1X ETF (AMDD) is an inverse single-stock exchange-traded fund from Direxion. It seeks daily investment results, before fees and expenses, equal to the inverse (-100%) of the daily percentage change in the share price of Advanced Micro Devices, the Santa Clara, California-based chip designer.

The fund is designed to rise in value on days when AMD stock falls and to decline on days when it rises. It obtains this exposure through derivatives such as swap agreements rather than by short selling shares directly. Because the inverse objective resets each trading day, the fund targets daily returns only, and over longer periods its performance can differ significantly from the inverse of AMD's return, especially in volatile markets.

The fund is intended for short-term trading or hedging. Its shares are listed on Nasdaq.