AAPD vs. AAPB
AAPD (Direxion Daily AAPL Bear 1X Shares) and AAPB (GraniteShares 2x Long AAPL Daily ETF) are both exchange-traded funds - AAPD is a Inverse Equities fund tracking the Apple Inc. (-100%), while AAPB is a Leveraged Equities fund actively managed by GraniteShares. AAPD is passively managed, while AAPB is actively managed. Over the past 3 years, AAPD returned -16.55%/yr vs 21.98%/yr for AAPB. Their -0.99 correlation means they have often moved in opposite directions in the past. AAPD charges 1.06%/yr vs 1.15%/yr for AAPB.
Performance
AAPD vs. AAPB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, AAPD achieves a -13.18% return, which is significantly lower than AAPB's 18.64% return.
AAPD
- 1D
- -1.92%
- 1M
- -1.06%
- 6M
- -13.97%
- YTD
- -13.18%
- 1Y
- -34.80%
- 3Y*
- -16.55%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -15.73%
AAPB
- 1D
- 4.24%
- 1M
- -1.28%
- 6M
- 22.32%
- YTD
- 18.64%
- 1Y
- 102.40%
- 3Y*
- 21.98%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 17.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.73M | $3.84M | $2.82M | |
| $133.85M | $121.65M | $106.46M |
AAPD vs. AAPB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
AAPD Direxion Daily AAPL Bear 1X Shares | -13.18% | -11.41% | -21.45% | -30.42% | 20.24% |
AAPB GraniteShares 2x Long AAPL Daily ETF | 18.64% | -0.93% | 47.02% | 77.21% | -38.60% |
Correlation
The correlation between AAPD and AAPB is -0.99, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.99 |
Correlation (3Y) Balances recent behavior with more history. | -0.99 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | -0.99 |
The correlation between AAPD and AAPB has been stable across timeframes, ranging from -0.99 to -0.99 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AAPD vs. AAPB — Risk / Return Rank
AAPD
AAPB
AAPD vs. AAPB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AAPL Bear 1X Shares (AAPD) and GraniteShares 2x Long AAPL Daily ETF (AAPB). 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.
| AAPD | AAPB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.31 | ||
| Sortino ratioReturn per unit of downside risk | -4.48 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 1.34 | -0.58 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | 3.66 | -4.52 |
| Martin ratioReturn relative to average drawdown | -1.38 | 8.30 | -9.68 |
Loading charts...
Drawdowns
AAPD vs. AAPB - Drawdown Comparison
The maximum AAPD drawdown since its inception was -63.02%, which is greater than AAPB's maximum drawdown of -58.13%. Use the drawdown chart below to compare losses from any high point for AAPD and AAPB.
Loading charts...
Drawdown Indicators
| AAPD | AAPB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.02% | -58.13% | -4.89% |
Max Drawdown (1Y)Largest decline over 1 year | -40.60% | -28.11% | -12.49% |
Max Drawdown (3Y)Largest decline over 3 years | -53.16% | -58.13% | +4.97% |
Current DrawdownCurrent decline from peak | -59.53% | -17.80% | -41.73% |
Average DrawdownAverage peak-to-trough decline | -35.21% | -18.89% | -16.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.30% | 12.38% | +12.92% |
Volatility
AAPD vs. AAPB - Volatility Comparison
The current volatility for Direxion Daily AAPL Bear 1X Shares (AAPD) is 10.59%, while GraniteShares 2x Long AAPL Daily ETF (AAPB) has a volatility of 22.37%. This indicates that AAPD experiences smaller price fluctuations and is considered to be less risky than AAPB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| AAPD | AAPB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.59% | 22.37% | -11.78% |
Volatility (6M)Calculated over the trailing 6-month period | 20.23% | 42.34% | -22.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.84% | 52.48% | -26.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.45% | 52.53% | -25.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.45% | 52.53% | -25.08% |
AAPD vs. AAPB - Expense Ratio Comparison
AAPD has a 1.06% expense ratio, which is lower than AAPB's 1.15% expense ratio.
Dividends
AAPD vs. AAPB - Dividend Comparison
AAPD's dividend yield for the trailing twelve months is around 3.52%, less than AAPB's 3.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
AAPB GraniteShares 2x Long AAPL Daily ETF | 3.70% | 4.39% | 0.00% | 18.75% | 0.00% |
AAPD Direxion Daily AAPL Bear 1X Shares | 3.52% | 3.60% | 4.55% | 4.37% | 0.53% |
Frequently Asked Questions
AAPD and AAPB have a correlation of -0.99, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AAPB has higher volatility (22.37%) compared to AAPD (10.59%). In terms of maximum drawdown, AAPD dropped -63.02% vs AAPB's -58.13%.
On 3-year performance, AAPB leads with 21.98% vs -16.55% for AAPD. On fees, AAPD is cheaper at 1.06% per year. On volatility, AAPD has been the lower-risk option at 10.59%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, AAPB has performed better with a 21.98% return vs -16.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AAPD is cheaper with a 1.06% expense ratio, compared with 1.15% for AAPB.
AAPB has the higher dividend yield at 3.70%, compared with 3.52% for AAPD.
AAPD is categorized as Inverse Equities, while AAPB is Leveraged Equities. They also come from different issuers: Direxion and GraniteShares. Their fees differ too: 1.06% for AAPD and 1.15% for AAPB.
AAPB currently has the higher Sharpe Ratio (1.96 vs -1.35), 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.
Find the right allocation for AAPD and AAPB
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer