INDL vs AMAX

Comparison between DIREXION DAILY MSCI INDIA BULL 2X SHARES (INDL, ETF) and ADAPTIVE HEDGED MULTI-ASSET INCOME ETF (AMAX, ETF).

5-Year PerformanceAMAX has outperformed INDL, delivering a return of +3.4% compared to -3.3%

INDL vs AMAX - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	INDL(ETF)	AMAX(ETF)
Net Assets	$60M	$60M
Expense Ratio	N/A	1.36%
Max Drawdown	95.75%	28.31%
Sharpe Ratio	-1.13	0.55
5Y Beta	0.89	0.38

Net Assets

INDL

$60M

Winner

AMAX

$60M

Expense Ratio

INDL

N/A

AMAX

1.36%

Max Drawdown

INDL

95.75%

Winner

AMAX

28.31%

Sharpe Ratio

INDL

-1.13

Winner

AMAX

0.55

5Y Beta

INDL

0.89

Winner

AMAX

0.38

INDL vs AMAX - Historical Returns

Returns include dividend reinvestment.

Period	INDL	AMAX
1 month	-7.75%	-2.92%
3 months	-13.83%	-1.94%
6 months	-26.33%	+1.58%
1 year	-29.53%	+9.75%
5 years(CAGR)	-3.27%	+3.37%
10 years(CAGR)	-0.89%	N/A
Max(CAGR)	-7.21%	+3.37%

INDL

-7.75%

Winner

AMAX

-2.92%

INDL

-13.83%

Winner

AMAX

-1.94%

INDL

-26.33%

Winner

AMAX

+1.58%

INDL

-29.53%

Winner

AMAX

+9.75%

5Y(CAGR)

INDL

-3.27%

Winner

AMAX

+3.37%

10Y(CAGR)

INDL

-0.89%

AMAX

N/A

Max(CAGR)

INDL

-7.21%

Winner

AMAX

+3.37%

INDL vs AMAX - Annual Returns (2010 - 2026)

Returns include dividend reinvestment.

Year	INDL	AMAX
2026	-27.47%	+2.45%
2025	-6.13%	+10.82%
2024	+8.24%	+10.07%
2023	+25.25%	+6.91%
2022	-25.42%	-12.46%
2021	+39.51%	-0.20%
2020	-38.58%	N/A
2019	+5.61%	N/A
2018	-34.64%	N/A
2017	+125.37%	N/A
2016	-10.28%	N/A
2015	-35.99%	N/A
2014	+67.33%	N/A
2013	-36.72%	N/A
2012	+8.88%	N/A
2011	-67.93%	N/A
2010	+28.97%	N/A

INDL vs AMAX Drawdown Comparison

The maximum drawdown for INDL was -95.67%, occurring on Mar 23, 2020. This drawdown has not yet recovered.

The maximum drawdown for AMAX was -16.26%, occurring on Oct 14, 2022. Recovery took 595 trading sessions.

The current INDL drawdown is -79.22%. The current AMAX drawdown is -4.41%.

Rank	INDL	AMAX
#1	-95.67% Nov 5, 2010 - Mar 23, 2020	-16.26% Nov 17, 2021 - Apr 3, 2024
#2	-30.28% Apr 5, 2010 - Sep 14, 2010	-9.26% Feb 19, 2025 - May 14, 2025
#3	-8.88% Oct 13, 2010 - Nov 4, 2010	-7.51% Jan 28, 2026 - May 8, 2026
#4	-3.55% Oct 5, 2010 - Oct 13, 2010	-5.73% Jul 17, 2024 - Aug 19, 2024
#5	-3.41% Sep 21, 2010 - Sep 24, 2010	-5.38% Oct 20, 2025 - Jan 22, 2026
#6	-2.68% Mar 17, 2010 - Mar 23, 2010	-4.41% May 11, 2026 - Jun 5, 2026
#7	-1.54% Sep 28, 2010 - Oct 1, 2010	-3.54% Apr 3, 2024 - May 20, 2024
#8	-1.52% Mar 23, 2010 - Mar 26, 2010	-2.95% Dec 11, 2024 - Jan 22, 2025
#9	-1.19% Mar 12, 2010 - Mar 16, 2010	-2.23% Nov 8, 2024 - Dec 11, 2024
#10	-1.06% Sep 15, 2010 - Sep 17, 2010	-2.01% Jan 31, 2025 - Feb 19, 2025
#11	-0.99% Mar 29, 2010 - Apr 1, 2010	-2.00% Jan 22, 2025 - Jan 31, 2025
#12	-0.80% Sep 24, 2010 - Sep 28, 2010	-1.89% Jun 13, 2025 - Jul 2, 2025
#13	-0.11% Oct 1, 2010 - Oct 5, 2010	-1.69% May 20, 2025 - Jun 6, 2025
#14	N/A	-1.62% May 20, 2024 - Jun 17, 2024
#15	N/A	-1.62% Jun 20, 2024 - Jul 9, 2024

Correlation

Correlation between INDL and AMAX is 0.34 which considered as a weak positive correlation - the stocks show a slight tendency to move together.

0.34

-101

Dividend Comparison (2010 - 2026)

INDL vs AMAX dividend yield comparison.

Year	INDL	AMAX
2026	0.24%	5.19%
2025	1.42%	9.19%
2024	2.79%	7.36%
2023	1.65%	6.99%
2022	0.09%	11.22%
2021	2.35%	1.00%
2019	0.68%	0.00%
2018	0.18%	0.00%
2017	0.31%	0.00%
2012	0.07%	0.00%
2010	0.58%	0.00%