AAPD vs. AAPY
AAPD (Direxion Daily AAPL Bear 1X Shares) and AAPY (Kurv Yield Premium Strategy Apple (AAPL) ETF) are both exchange-traded funds - AAPD is a Inverse Equities fund tracking the Apple Inc. (-100%), while AAPY is a Derivative Income fund actively managed by Kurv. AAPD is passively managed, while AAPY is actively managed. Over the past year, AAPD returned -34.80% vs 37.65% for AAPY. Their -0.95 correlation means they have often moved in opposite directions in the past. AAPD charges 1.06%/yr vs 0.99%/yr for AAPY.
Performance
AAPD vs. AAPY - Performance Comparison
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Returns By Period
In the year-to-date period, AAPD achieves a -13.18% return, which is significantly lower than AAPY's 11.73% 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%
AAPY
- 1D
- 2.02%
- 1M
- -0.68%
- 6M
- 13.26%
- YTD
- 11.73%
- 1Y
- 37.65%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 16.99%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $133.85M | $121.65M | $106.46M | |
| $196.29K | $152.82K | $144.37K |
AAPD vs. AAPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
AAPD Direxion Daily AAPL Bear 1X Shares | -13.18% | -11.41% | -21.45% | -12.61% |
AAPY Kurv Yield Premium Strategy Apple (AAPL) ETF | 11.73% | 5.04% | 20.54% | 9.18% |
Correlation
The correlation between AAPD and AAPY is -0.96, 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. | -0.96 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2023 | -0.95 |
The correlation between AAPD and AAPY has been stable across timeframes, ranging from -0.96 to -0.95 - a consistent structural relationship.
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Return for Risk
AAPD vs. AAPY — Risk / Return Rank
AAPD
AAPY
AAPD vs. AAPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AAPL Bear 1X Shares (AAPD) and Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY). 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 | AAPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.80 | ||
| Sortino ratioReturn per unit of downside risk | -3.98 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 1.28 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | 2.61 | -3.47 |
| Martin ratioReturn relative to average drawdown | -1.38 | 6.45 | -7.83 |
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Drawdowns
AAPD vs. AAPY - Drawdown Comparison
The maximum AAPD drawdown since its inception was -63.02%, which is greater than AAPY's maximum drawdown of -29.22%. Use the drawdown chart below to compare losses from any high point for AAPD and AAPY.
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Drawdown Indicators
| AAPD | AAPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.02% | -29.22% | -33.80% |
Max Drawdown (1Y)Largest decline over 1 year | -40.60% | -14.47% | -26.13% |
Max Drawdown (3Y)Largest decline over 3 years | -53.16% | — | — |
Current DrawdownCurrent decline from peak | -59.53% | -10.26% | -49.27% |
Average DrawdownAverage peak-to-trough decline | -35.21% | -6.24% | -28.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.30% | 5.85% | +19.45% |
Volatility
AAPD vs. AAPY - Volatility Comparison
The current volatility for Direxion Daily AAPL Bear 1X Shares (AAPD) is 10.59%, while Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) has a volatility of 11.55%. This indicates that AAPD experiences smaller price fluctuations and is considered to be less risky than AAPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAPD | AAPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.59% | 11.55% | -0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 20.23% | 22.82% | -2.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.84% | 26.17% | -0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.45% | 23.92% | +3.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.45% | 23.92% | +3.53% |
AAPD vs. AAPY - Expense Ratio Comparison
AAPD has a 1.06% expense ratio, which is higher than AAPY's 0.99% expense ratio.
Dividends
AAPD vs. AAPY - Dividend Comparison
AAPD's dividend yield for the trailing twelve months is around 3.52%, less than AAPY's 11.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
AAPD Direxion Daily AAPL Bear 1X Shares | 3.52% | 3.60% | 4.55% | 4.37% | 0.53% |
AAPY Kurv Yield Premium Strategy Apple (AAPL) ETF | 11.81% | 12.66% | 17.15% | 2.16% | 0.00% |
Frequently Asked Questions
AAPD and AAPY have a correlation of -0.96, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AAPY has higher volatility (11.55%) compared to AAPD (10.59%). In terms of maximum drawdown, AAPD dropped -63.02% vs AAPY's -29.22%.
On 1-year performance, AAPY leads with 37.65% vs -34.80% for AAPD. On fees, AAPY is cheaper at 0.99% 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 1-year period, AAPY has performed better with a 37.65% return vs -34.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AAPY is cheaper with a 0.99% expense ratio, compared with 1.06% for AAPD.
AAPY has the higher dividend yield at 11.81%, compared with 3.52% for AAPD.
AAPD is categorized as Inverse Equities, while AAPY is Derivative Income. They also come from different issuers: Direxion and Kurv. Their fees differ too: 1.06% for AAPD and 0.99% for AAPY.
AAPY currently has the higher Sharpe Ratio (1.45 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.
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