AAPD vs. TSLL
AAPD (Direxion Daily AAPL Bear 1X Shares) and TSLL (Direxion Daily TSLA Bull 2X ETF) are both exchange-traded funds - AAPD is a Inverse Equities fund tracking the Apple Inc. (-100%), while TSLL is a Leveraged Equities fund actively managed by Direxion. AAPD is passively managed, while TSLL is actively managed. Over the past 3 years, AAPD returned -16.55%/yr vs -17.03%/yr for TSLL. Their -0.40 correlation means they have often moved in opposite directions in the past. AAPD charges 1.06%/yr vs 0.83%/yr for TSLL.
Performance
AAPD vs. TSLL - Performance Comparison
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Returns By Period
In the year-to-date period, AAPD achieves a -13.18% return, which is significantly higher than TSLL's -57.11% 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%
TSLL
- 1D
- 3.33%
- 1M
- -34.39%
- 6M
- -50.02%
- YTD
- -57.11%
- 1Y
- -20.56%
- 3Y*
- -17.03%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -21.76%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $133.85M | $121.65M | $106.46M | |
| $780.98M | $666.95M | $936.66M |
AAPD vs. TSLL - 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% |
TSLL Direxion Daily TSLA Bull 2X ETF | -57.11% | -26.80% | 99.63% | 139.86% | -74.99% |
Correlation
The correlation between AAPD and TSLL is -0.26, 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. | -0.26 |
Correlation (3Y) Balances recent behavior with more history. | -0.36 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | -0.40 |
The correlation between AAPD and TSLL shifts across timeframes, from -0.40 (all time) to -0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AAPD vs. TSLL — Risk / Return Rank
AAPD
TSLL
AAPD vs. TSLL - 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 TSLA Bull 2X ETF (TSLL). 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 | TSLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.13 | ||
| Sortino ratioReturn per unit of downside risk | -2.34 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 1.04 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | -0.29 | -0.57 |
| Martin ratioReturn relative to average drawdown | -1.38 | -0.64 | -0.74 |
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Drawdowns
AAPD vs. TSLL - Drawdown Comparison
The maximum AAPD drawdown since its inception was -63.02%, smaller than the maximum TSLL drawdown of -82.88%. Use the drawdown chart below to compare losses from any high point for AAPD and TSLL.
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Drawdown Indicators
| AAPD | TSLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.02% | -82.88% | +19.86% |
Max Drawdown (1Y)Largest decline over 1 year | -40.60% | -70.13% | +29.53% |
Max Drawdown (3Y)Largest decline over 3 years | -53.16% | -82.88% | +29.72% |
Current DrawdownCurrent decline from peak | -59.53% | -78.34% | +18.81% |
Average DrawdownAverage peak-to-trough decline | -35.21% | -54.41% | +19.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.30% | 32.14% | -6.84% |
Volatility
AAPD vs. TSLL - Volatility Comparison
The current volatility for Direxion Daily AAPL Bear 1X Shares (AAPD) is 10.59%, while Direxion Daily TSLA Bull 2X ETF (TSLL) has a volatility of 39.42%. This indicates that AAPD experiences smaller price fluctuations and is considered to be less risky than TSLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAPD | TSLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.59% | 39.42% | -28.83% |
Volatility (6M)Calculated over the trailing 6-month period | 20.23% | 70.56% | -50.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.84% | 92.39% | -66.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.45% | 107.73% | -80.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.45% | 107.73% | -80.28% |
AAPD vs. TSLL - Expense Ratio Comparison
AAPD has a 1.06% expense ratio, which is higher than TSLL's 0.83% expense ratio.
Dividends
AAPD vs. TSLL - Dividend Comparison
AAPD's dividend yield for the trailing twelve months is around 3.52%, less than TSLL's 12.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
AAPD Direxion Daily AAPL Bear 1X Shares | 3.52% | 3.60% | 4.55% | 4.37% | 0.53% |
TSLL Direxion Daily TSLA Bull 2X ETF | 12.21% | 5.00% | 2.47% | 4.44% | 1.57% |
Frequently Asked Questions
AAPD and TSLL have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSLL has higher volatility (39.42%) compared to AAPD (10.59%). In terms of maximum drawdown, AAPD dropped -63.02% vs TSLL's -82.88%.
On 3-year performance, AAPD leads with -16.55% vs -17.03% for TSLL. On fees, TSLL is cheaper at 0.83% 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 3-year period, AAPD has performed better with a -16.55% return vs -17.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TSLL is cheaper with a 0.83% expense ratio, compared with 1.06% for AAPD.
TSLL has the higher dividend yield at 12.21%, compared with 3.52% for AAPD.
AAPD is categorized as Inverse Equities, while TSLL is Leveraged Equities. Their fees differ too: 1.06% for AAPD and 0.83% for TSLL.
TSLL currently has the higher Sharpe Ratio (-0.22 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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