AAPB vs. MSFU

Last updated Jun 16, 2026

AAPB (GraniteShares 2x Long AAPL Daily ETF) and MSFU (Direxion Daily MSFT Bull 2X Shares) are both Leveraged Equities funds. AAPB is actively managed, while MSFU is passively managed. Over the past 3 years, AAPB returned 17.91%/yr vs -5.80%/yr for MSFU. At a 0.44 correlation, their price movements are largely independent. AAPB charges 1.15%/yr vs 1.04%/yr for MSFU.

Performance

AAPB vs. MSFU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long AAPL Daily ETF (AAPB) and Direxion Daily MSFT Bull 2X Shares (MSFU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAPB achieves a 12.10% return, which is significantly higher than MSFU's -37.11% return.

AAPB

• 1D: 3.36%
• 1M: -3.87%
• YTD: 12.10%
• 6M: 10.03%
• 1Y: 101.75%
• 3Y*: 17.91%
• 5Y*: —
• 10Y*: —

MSFU

• 1D: 4.68%
• 1M: -11.32%
• YTD: -37.11%
• 6M: -35.10%
• 1Y: -39.10%
• 3Y*: -5.80%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAPB vs. MSFU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AAPB GraniteShares 2x Long AAPL Daily ETF	12.10%	-0.93%	47.02%	77.21%	-30.56%
MSFU Direxion Daily MSFT Bull 2X Shares	-37.11%	13.36%	5.80%	83.04%	-13.28%

Correlation

The correlation between AAPB and MSFU is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022	0.44

Over the past year, the correlation between AAPB and MSFU has dropped to 0.12 - well below their long-term average of 0.44, suggesting their price drivers have been diverging.

AAPB vs. MSFU - Sectors Allocation Comparison

Sectors	AAPB	MSFU
Technology	66.7%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

AAPB vs. MSFU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AAPB

AAPB Risk / Return Rank: 69
AAPB Sharpe Ratio Rank: 77
AAPB Sortino Ratio Rank: 68
AAPB Omega Ratio Rank: 68
AAPB Calmar Ratio Rank: 77
AAPB Martin Ratio Rank: 55

MSFU

MSFU Risk / Return Rank: 3
MSFU Sharpe Ratio Rank: 3
MSFU Sortino Ratio Rank: 4
MSFU Omega Ratio Rank: 3
MSFU Calmar Ratio Rank: 4
MSFU Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AAPB vs. MSFU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long AAPL Daily ETF (AAPB) and Direxion Daily MSFT Bull 2X Shares (MSFU). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AAPB	MSFU	Difference
Sharpe ratio: Return per unit of total volatility	2.25	-0.77	+3.02
Sortino ratio: Return per unit of downside risk	2.84	-0.93	+3.77
Omega ratio: Gain probability vs. loss probability	1.37	0.88	+0.49
Calmar ratio: Return relative to maximum drawdown	3.64	-0.66	+4.29
Martin ratio: Return relative to average drawdown	8.67	-1.22	+9.89

AAPB vs. MSFU - Sharpe Ratio Comparison

The current AAPB Sharpe Ratio is 2.25, which is higher than the MSFU Sharpe Ratio of -0.77. The chart below compares the historical Sharpe Ratios of AAPB and MSFU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AAPB vs. MSFU - Drawdown Comparison

The maximum AAPB drawdown since its inception was -58.13%, roughly equal to the maximum MSFU drawdown of -59.83%. Use the drawdown chart below to compare losses from any high point for AAPB and MSFU.

Drawdown Indicators

	AAPB	MSFU	Difference
Max Drawdown Largest peak-to-trough decline	-58.13%	-59.83%	+1.70%
Max Drawdown (1Y) Largest decline over 1 year	-28.11%	-59.83%	+31.72%
Max Drawdown (3Y) Largest decline over 3 years	-58.13%	-59.83%	+1.70%
Current Drawdown Current decline from peak	-12.37%	-51.32%	+38.95%
Average Drawdown Average peak-to-trough decline	-19.27%	-16.78%	-2.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.77%	32.21%	-20.44%

Volatility

AAPB vs. MSFU - Volatility Comparison

The current volatility for GraniteShares 2x Long AAPL Daily ETF (AAPB) is 14.34%, while Direxion Daily MSFT Bull 2X Shares (MSFU) has a volatility of 21.34%. This indicates that AAPB experiences smaller price fluctuations and is considered to be less risky than MSFU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAPB	MSFU	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.34%	21.34%	-7.00%
Volatility (6M) Calculated over the trailing 6-month period	33.42%	45.46%	-12.04%
Volatility (1Y) Calculated over the trailing 1-year period	45.58%	51.01%	-5.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.37%	46.39%	+4.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.37%	46.39%	+4.98%

AAPB vs. MSFU - Expense Ratio Comparison

AAPB has a 1.15% expense ratio, which is higher than MSFU's 1.04% expense ratio.

Dividends

AAPB vs. MSFU - Dividend Comparison

AAPB's dividend yield for the trailing twelve months is around 3.92%, less than MSFU's 12.58% yield.

Position	TTM	2025	2024	2023	2022
AAPB GraniteShares 2x Long AAPL Daily ETF	3.92%	4.39%	0.00%	18.75%	0.00%
MSFU Direxion Daily MSFT Bull 2X Shares	12.58%	8.15%	7.00%	2.11%	0.54%

Frequently Asked Questions

Can I hold both AAPB and MSFU in my portfolio?

AAPB and MSFU have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AAPB or MSFU?

MSFU has higher volatility (21.34%) compared to AAPB (14.34%). In terms of maximum drawdown, AAPB dropped -58.13% vs MSFU's -59.83%.

Which ETF is better, AAPB or MSFU?

On 3-year performance, AAPB leads with 17.91% vs -5.80% for MSFU. On fees, MSFU is cheaper at 1.04% per year. On volatility, AAPB has been the lower-risk option at 14.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AAPB or MSFU?

Over the 3-year period, AAPB has performed better with a 17.91% return vs -5.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AAPB or MSFU?

MSFU is cheaper with a 1.04% expense ratio, compared with 1.15% for AAPB.

Which ETF pays a higher dividend yield, AAPB or MSFU?

MSFU has the higher dividend yield at 12.58%, compared with 3.92% for AAPB.

What is the main difference between AAPB and MSFU?

They also come from different issuers: GraniteShares and Direxion. Their fees differ too: 1.15% for AAPB and 1.04% for MSFU.

Which has better risk-adjusted returns?

AAPB currently has the higher Sharpe Ratio (2.25 vs -0.77), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.