AAPD vs. HLAL
AAPD (Direxion Daily AAPL Bear 1X Shares) and HLAL (Wahed FTSE USA Shariah ETF) are both exchange-traded funds - AAPD is a Inverse Equities fund tracking the Apple Inc. (-100%), while HLAL is a Large Cap Growth Equities fund tracking the FTSE Shariah USA Index. Both are passively managed. Over the past 3 years, AAPD returned -16.55%/yr vs 20.16%/yr for HLAL. Their -0.68 correlation means they have often moved in opposite directions in the past. AAPD charges 1.06%/yr vs 0.50%/yr for HLAL.
Performance
AAPD vs. HLAL - 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 HLAL's 17.59% 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%
HLAL
- 1D
- 2.41%
- 1M
- 3.59%
- 6M
- 15.01%
- YTD
- 17.59%
- 1Y
- 33.31%
- 3Y*
- 20.16%
- 5Y*
- 14.09%
- 10Y*
- —
- ALL TIME*
- 17.34%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $133.85M | $121.65M | $106.46M | |
| $3.79M | $3.57M | $4.37M |
AAPD vs. HLAL - 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% |
HLAL Wahed FTSE USA Shariah ETF | 17.59% | 18.30% | 16.70% | 30.13% | -8.06% |
Correlation
The correlation between AAPD and HLAL is -0.48, 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. | -0.48 |
Correlation (3Y) Balances recent behavior with more history. | -0.61 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | -0.68 |
The correlation between AAPD and HLAL shifts across timeframes, from -0.68 (all time) to -0.48 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AAPD vs. HLAL — Risk / Return Rank
AAPD
HLAL
AAPD vs. HLAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AAPL Bear 1X Shares (AAPD) and Wahed FTSE USA Shariah ETF (HLAL). 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 | HLAL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.53 | ||
| Sortino ratioReturn per unit of downside risk | -5.07 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 1.38 | -0.62 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | 3.28 | -4.14 |
| Martin ratioReturn relative to average drawdown | -1.38 | 12.05 | -13.42 |
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Drawdowns
AAPD vs. HLAL - Drawdown Comparison
The maximum AAPD drawdown since its inception was -63.02%, which is greater than HLAL's maximum drawdown of -33.57%. Use the drawdown chart below to compare losses from any high point for AAPD and HLAL.
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Drawdown Indicators
| AAPD | HLAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.02% | -33.57% | -29.45% |
Max Drawdown (1Y)Largest decline over 1 year | -40.60% | -10.20% | -30.40% |
Max Drawdown (3Y)Largest decline over 3 years | -53.16% | -21.67% | -31.49% |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.18% | — |
Current DrawdownCurrent decline from peak | -59.53% | -1.03% | -58.50% |
Average DrawdownAverage peak-to-trough decline | -35.21% | -4.97% | -30.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.30% | 2.77% | +22.53% |
Volatility
AAPD vs. HLAL - Volatility Comparison
Direxion Daily AAPL Bear 1X Shares (AAPD) has a higher volatility of 10.59% compared to Wahed FTSE USA Shariah ETF (HLAL) at 5.72%. This indicates that AAPD's price experiences larger fluctuations and is considered to be riskier than HLAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAPD | HLAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.59% | 5.72% | +4.87% |
Volatility (6M)Calculated over the trailing 6-month period | 20.23% | 12.83% | +7.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.84% | 15.46% | +10.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.45% | 17.96% | +9.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.45% | 20.25% | +7.20% |
AAPD vs. HLAL - Expense Ratio Comparison
AAPD has a 1.06% expense ratio, which is higher than HLAL's 0.50% expense ratio.
Dividends
AAPD vs. HLAL - Dividend Comparison
AAPD's dividend yield for the trailing twelve months is around 3.52%, more than HLAL's 0.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
AAPD Direxion Daily AAPL Bear 1X Shares | 3.52% | 3.60% | 4.55% | 4.37% | 0.53% | 0.00% | 0.00% | 0.00% |
HLAL Wahed FTSE USA Shariah ETF | 0.44% | 0.53% | 0.58% | 0.72% | 1.15% | 0.78% | 0.97% | 0.72% |
Frequently Asked Questions
AAPD and HLAL have a correlation of -0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AAPD has higher volatility (10.59%) compared to HLAL (5.72%). In terms of maximum drawdown, AAPD dropped -63.02% vs HLAL's -33.57%.
On 3-year performance, HLAL leads with 20.16% vs -16.55% for AAPD. On fees, HLAL is cheaper at 0.50% per year. On volatility, HLAL has been the lower-risk option at 5.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HLAL has performed better with a 20.16% return vs -16.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HLAL is cheaper with a 0.50% expense ratio, compared with 1.06% for AAPD.
AAPD has the higher dividend yield at 3.52%, compared with 0.44% for HLAL.
AAPD is categorized as Inverse Equities, while HLAL is Large Cap Growth Equities. AAPD tracks Apple Inc. (-100%), while HLAL tracks FTSE Shariah USA Index. They also come from different issuers: Direxion and Wahed. Their fees differ too: 1.06% for AAPD and 0.50% for HLAL.
HLAL currently has the higher Sharpe Ratio (2.17 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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