AAPD vs. QDF
AAPD (Direxion Daily AAPL Bear 1X Shares) and QDF (FlexShares Quality Dividend Index Fund) are both exchange-traded funds - AAPD is a Inverse Equities fund tracking the Apple Inc. (-100%), while QDF is a Large Cap Value Equities fund tracking the Northern Trust Quality Dividend Index. Both are passively managed. Over the past 3 years, AAPD returned -16.24%/yr vs 19.21%/yr for QDF. At a correlation of -0.62, they often move in opposite directions. AAPD charges 1.06%/yr vs 0.37%/yr for QDF.
Performance
AAPD vs. QDF - Performance Comparison
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Returns By Period
In the year-to-date period, AAPD achieves a -12.45% return, which is significantly lower than QDF's 10.70% return.
AAPD
- 1D
- 1.51%
- 1M
- -10.79%
- YTD
- -12.45%
- 6M
- -8.15%
- 1Y
- -33.84%
- 3Y*
- -16.24%
- 5Y*
- —
- 10Y*
- —
QDF
- 1D
- -0.56%
- 1M
- 4.60%
- YTD
- 10.70%
- 6M
- 10.82%
- 1Y
- 27.64%
- 3Y*
- 19.21%
- 5Y*
- 11.90%
- 10Y*
- 12.18%
AAPD vs. QDF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
AAPD Direxion Daily AAPL Bear 1X Shares | -12.45% | -11.41% | -21.45% | -30.42% | 21.49% |
QDF FlexShares Quality Dividend Index Fund | 10.70% | 16.58% | 16.95% | 19.71% | -1.65% |
Correlation
The correlation between AAPD and QDF is -0.57, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.56 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2022 | -0.62 |
The correlation between AAPD and QDF has been stable across timeframes, ranging from -0.62 to -0.56 - a consistent structural relationship.
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Return for Risk
AAPD vs. QDF — Risk / Return Rank
AAPD
QDF
AAPD vs. QDF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AAPL Bear 1X Shares (AAPD) and FlexShares Quality Dividend Index Fund (QDF). 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.
| AAPD | QDF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.91 | ||
| Sortino ratioReturn per unit of downside risk | -5.54 | ||
| Omega ratioGain probability vs. loss probability | 0.74 | 1.44 | -0.70 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | 3.52 | -4.42 |
| Martin ratioReturn relative to average drawdown | -1.46 | 15.37 | -16.84 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AAPD | QDF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.52 | 2.40 | -3.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.77 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.70 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.59 | 0.78 | -1.38 |
Drawdowns
AAPD vs. QDF - Drawdown Comparison
The maximum AAPD drawdown since its inception was -59.79%, which is greater than QDF's maximum drawdown of -36.67%. Use the drawdown chart below to compare losses from any high point for AAPD and QDF.
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Drawdown Indicators
| AAPD | QDF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.79% | -36.67% | -23.12% |
Max Drawdown (1Y)Largest decline over 1 year | -37.37% | -7.90% | -29.47% |
Max Drawdown (3Y)Largest decline over 3 years | -49.07% | -18.01% | -31.06% |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.06% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.67% | — |
Current DrawdownCurrent decline from peak | -59.19% | -0.56% | -58.63% |
Average DrawdownAverage peak-to-trough decline | -34.19% | -3.65% | -30.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.16% | 1.80% | +21.36% |
Volatility
AAPD vs. QDF - Volatility Comparison
Direxion Daily AAPL Bear 1X Shares (AAPD) has a higher volatility of 5.47% compared to FlexShares Quality Dividend Index Fund (QDF) at 2.95%. This indicates that AAPD's price experiences larger fluctuations and is considered to be riskier than QDF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAPD | QDF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.47% | 2.95% | +2.52% |
Volatility (6M)Calculated over the trailing 6-month period | 16.01% | 8.76% | +7.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.36% | 11.60% | +10.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.02% | 15.60% | +11.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.02% | 17.39% | +9.63% |
AAPD vs. QDF - Expense Ratio Comparison
AAPD has a 1.06% expense ratio, which is higher than QDF's 0.37% expense ratio.
Dividends
AAPD vs. QDF - Dividend Comparison
AAPD's dividend yield for the trailing twelve months is around 3.84%, more than QDF's 1.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AAPD Direxion Daily AAPL Bear 1X Shares | 3.84% | 3.60% | 4.55% | 4.37% | 0.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QDF FlexShares Quality Dividend Index Fund | 1.50% | 1.65% | 1.93% | 2.19% | 2.45% | 1.90% | 2.38% | 3.05% | 4.29% | 2.70% | 3.07% | 3.04% |
Frequently Asked Questions
AAPD and QDF have a correlation of -0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AAPD has higher volatility (5.47%) compared to QDF (2.95%). In terms of maximum drawdown, AAPD dropped -59.79% vs QDF's -36.67%.
On 3-year performance, QDF leads with 19.21% vs -16.24% for AAPD. On fees, QDF is cheaper at 0.37% per year. On volatility, QDF has been the lower-risk option at 2.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, QDF has performed better with a 19.21% return vs -16.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QDF is cheaper with a 0.37% expense ratio, compared with 1.06% for AAPD.
AAPD has the higher dividend yield at 3.84%, compared with 1.50% for QDF.
AAPD is categorized as Inverse Equities, while QDF is Large Cap Value Equities. AAPD tracks Apple Inc. (-100%), while QDF tracks Northern Trust Quality Dividend Index. They also come from different issuers: Direxion and FlexShares. Their fees differ too: 1.06% for AAPD and 0.37% for QDF.
QDF currently has the higher Sharpe Ratio (2.40 vs -1.52), 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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