AAPD vs. SPXS
Compare and contrast key facts about Direxion Daily AAPL Bear 1X Shares (AAPD) and Direxion Daily S&P 500 Bear 3X Shares (SPXS).
AAPD and SPXS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AAPD is a passively managed fund by Direxion that tracks the performance of the Apple Inc. (-100%). It was launched on Aug 8, 2022. SPXS is a passively managed fund by Direxion that tracks the performance of the S&P 500 Index (-300%). It was launched on Nov 5, 2008. Both AAPD and SPXS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
AAPD vs. SPXS - Performance Comparison
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AAPD vs. SPXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
AAPD Direxion Daily AAPL Bear 1X Shares | 7.12% | -11.41% | -21.45% | -30.42% | 21.49% |
SPXS Direxion Daily S&P 500 Bear 3X Shares | 12.54% | -41.53% | -42.84% | -45.97% | 10.07% |
Returns By Period
In the year-to-date period, AAPD achieves a 7.12% return, which is significantly lower than SPXS's 12.54% return.
AAPD
- 1D
- -2.79%
- 1M
- 4.31%
- YTD
- 7.12%
- 6M
- 1.14%
- 1Y
- -15.69%
- 3Y*
- -13.03%
- 5Y*
- —
- 10Y*
- —
SPXS
- 1D
- -2.35%
- 1M
- 13.44%
- YTD
- 12.54%
- 6M
- 6.78%
- 1Y
- -42.12%
- 3Y*
- -36.76%
- 5Y*
- -31.62%
- 10Y*
- -39.93%
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AAPD vs. SPXS - Expense Ratio Comparison
AAPD has a 1.06% expense ratio, which is lower than SPXS's 1.08% expense ratio.
Return for Risk
AAPD vs. SPXS — Risk / Return Rank
AAPD
SPXS
AAPD vs. SPXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AAPL Bear 1X Shares (AAPD) and Direxion Daily S&P 500 Bear 3X Shares (SPXS). 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 | SPXS | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.50 | -0.77 | +0.27 |
Sortino ratioReturn per unit of downside risk | -0.50 | -0.97 | +0.46 |
Omega ratioGain probability vs. loss probability | 0.92 | 0.86 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | -0.42 | -0.66 | +0.24 |
Martin ratioReturn relative to average drawdown | -0.58 | -0.76 | +0.19 |
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 | SPXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.50 | -0.77 | +0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.63 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.75 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.44 | -0.81 | +0.37 |
Correlation
The correlation between AAPD and SPXS is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
AAPD vs. SPXS - Dividend Comparison
AAPD's dividend yield for the trailing twelve months is around 3.14%, less than SPXS's 3.25% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
AAPD Direxion Daily AAPL Bear 1X Shares | 3.14% | 3.60% | 4.55% | 4.37% | 0.53% | 0.00% | 0.00% | 0.00% | 0.00% |
SPXS Direxion Daily S&P 500 Bear 3X Shares | 3.25% | 4.93% | 6.18% | 5.66% | 0.00% | 0.00% | 0.51% | 1.74% | 0.58% |
Drawdowns
AAPD vs. SPXS - Drawdown Comparison
The maximum AAPD drawdown since its inception was -55.92%, smaller than the maximum SPXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for AAPD and SPXS.
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Drawdown Indicators
| AAPD | SPXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.92% | -100.00% | +44.08% |
Max Drawdown (1Y)Largest decline over 1 year | -41.16% | -65.10% | +23.94% |
Max Drawdown (5Y)Largest decline over 5 years | — | -87.42% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.52% | — |
Current DrawdownCurrent decline from peak | -50.07% | -100.00% | +49.93% |
Average DrawdownAverage peak-to-trough decline | -33.18% | -96.27% | +63.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.76% | 55.82% | -26.06% |
Volatility
AAPD vs. SPXS - Volatility Comparison
The current volatility for Direxion Daily AAPL Bear 1X Shares (AAPD) is 5.62%, while Direxion Daily S&P 500 Bear 3X Shares (SPXS) has a volatility of 16.19%. This indicates that AAPD experiences smaller price fluctuations and is considered to be less risky than SPXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAPD | SPXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.62% | 16.19% | -10.57% |
Volatility (6M)Calculated over the trailing 6-month period | 15.12% | 28.36% | -13.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.58% | 54.64% | -23.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.20% | 50.41% | -23.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.20% | 53.49% | -26.29% |