AAPD vs. QQQE
AAPD (Direxion Daily AAPL Bear 1X Shares) and QQQE (Direxion NASDAQ-100 Equal Weighted Index Shares) are both exchange-traded funds - AAPD is a Inverse Equities fund tracking the Apple Inc. (-100%), while QQQE is a Nasdaq-100 fund tracking the NASDAQ-100 Equal Weighted Index. Both are passively managed. Over the past 3 years, AAPD returned -16.55%/yr vs 16.88%/yr for QQQE. Their -0.54 correlation means they have often moved in opposite directions in the past. AAPD charges 1.06%/yr vs 0.35%/yr for QQQE.
Performance
AAPD vs. QQQE - 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 QQQE's 19.62% 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%
QQQE
- 1D
- 2.88%
- 1M
- 1.53%
- 6M
- 19.28%
- YTD
- 19.62%
- 1Y
- 24.78%
- 3Y*
- 16.88%
- 5Y*
- 8.77%
- 10Y*
- 15.02%
- ALL TIME*
- 14.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $133.85M | $121.65M | $106.46M | |
| $22.34M | $22.78M | $24.64M |
AAPD vs. QQQE - 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% |
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares | 19.62% | 14.58% | 6.98% | 33.76% | -10.30% |
Correlation
The correlation between AAPD and QQQE is -0.33, 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. | -0.33 |
Correlation (3Y) Balances recent behavior with more history. | -0.45 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | -0.54 |
Over the past year, the inverse relationship between AAPD and QQQE has weakened: their correlation has moved from -0.54 to -0.33, meaning they move in opposite directions less often than they have historically.
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Return for Risk
AAPD vs. QQQE — Risk / Return Rank
AAPD
QQQE
AAPD vs. QQQE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AAPL Bear 1X Shares (AAPD) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). 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 | QQQE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.90 | ||
| Sortino ratioReturn per unit of downside risk | -4.20 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 1.27 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | 2.65 | -3.51 |
| Martin ratioReturn relative to average drawdown | -1.38 | 8.44 | -9.82 |
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Drawdowns
AAPD vs. QQQE - Drawdown Comparison
The maximum AAPD drawdown since its inception was -63.02%, which is greater than QQQE's maximum drawdown of -32.14%. Use the drawdown chart below to compare losses from any high point for AAPD and QQQE.
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Drawdown Indicators
| AAPD | QQQE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.02% | -32.14% | -30.88% |
Max Drawdown (1Y)Largest decline over 1 year | -40.60% | -9.41% | -31.19% |
Max Drawdown (3Y)Largest decline over 3 years | -53.16% | -21.38% | -31.78% |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.14% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.14% | — |
Current DrawdownCurrent decline from peak | -59.53% | -0.44% | -59.09% |
Average DrawdownAverage peak-to-trough decline | -35.21% | -5.14% | -30.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.30% | 2.94% | +22.36% |
Volatility
AAPD vs. QQQE - Volatility Comparison
Direxion Daily AAPL Bear 1X Shares (AAPD) has a higher volatility of 10.59% compared to Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) at 4.82%. This indicates that AAPD's price experiences larger fluctuations and is considered to be riskier than QQQE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAPD | QQQE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.59% | 4.82% | +5.77% |
Volatility (6M)Calculated over the trailing 6-month period | 20.23% | 13.20% | +7.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.84% | 16.13% | +9.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.45% | 20.63% | +6.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.45% | 20.78% | +6.67% |
AAPD vs. QQQE - Expense Ratio Comparison
AAPD has a 1.06% expense ratio, which is higher than QQQE's 0.35% expense ratio.
Dividends
AAPD vs. QQQE - Dividend Comparison
AAPD's dividend yield for the trailing twelve months is around 3.52%, more than QQQE's 0.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AAPD Direxion Daily AAPL Bear 1X Shares | 3.52% | 3.60% | 4.55% | 4.37% | 0.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares | 0.56% | 0.52% | 0.86% | 0.79% | 0.98% | 3.83% | 0.54% | 0.74% | 0.80% | 0.65% | 1.17% | 0.57% |
Frequently Asked Questions
AAPD and QQQE have a correlation of -0.33, 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 QQQE (4.82%). In terms of maximum drawdown, AAPD dropped -63.02% vs QQQE's -32.14%.
On 3-year performance, QQQE leads with 16.88% vs -16.55% for AAPD. On fees, QQQE is cheaper at 0.35% per year. On volatility, QQQE has been the lower-risk option at 4.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, QQQE has performed better with a 16.88% return vs -16.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQE is cheaper with a 0.35% expense ratio, compared with 1.06% for AAPD.
AAPD has the higher dividend yield at 3.52%, compared with 0.56% for QQQE.
AAPD is categorized as Inverse Equities, while QQQE is Nasdaq-100. AAPD tracks Apple Inc. (-100%), while QQQE tracks NASDAQ-100 Equal Weighted Index. Their fees differ too: 1.06% for AAPD and 0.35% for QQQE.
QQQE currently has the higher Sharpe Ratio (1.55 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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