AAPD vs. YQQQ

Last updated Jun 4, 2026

AAPD (Direxion Daily AAPL Bear 1X Shares) and YQQQ (YieldMax Short N100 Option Income Strategy ETF) are both exchange-traded funds - AAPD is a Inverse Equities fund tracking the Apple Inc. (-100%), while YQQQ is a Derivative Income fund actively managed by YieldMax. AAPD is passively managed, while YQQQ is actively managed. Over the past year, AAPD returned -33.84% vs -14.25% for YQQQ. At a 0.49 correlation, their price movements are largely independent. AAPD charges 1.06%/yr vs 0.99%/yr for YQQQ.

Performance

AAPD vs. YQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily AAPL Bear 1X Shares (AAPD) and YieldMax Short N100 Option Income Strategy ETF (YQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAPD achieves a -12.45% return, which is significantly lower than YQQQ's -8.94% return.

AAPD

• 1D: 1.51%
• 1M: -10.79%
• YTD: -12.45%
• 6M: -8.15%
• 1Y: -33.84%
• 3Y*: -16.24%
• 5Y*: —
• 10Y*: —

YQQQ

• 1D: 0.06%
• 1M: -7.64%
• YTD: -8.94%
• 6M: -6.62%
• 1Y: -14.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAPD vs. YQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AAPD Direxion Daily AAPL Bear 1X Shares	-12.45%	-11.41%	-8.97%
YQQQ YieldMax Short N100 Option Income Strategy ETF	-8.94%	-9.97%	-4.06%

Correlation

The correlation between AAPD and YQQQ is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Aug 16, 2024	0.49

Return for Risk

AAPD vs. YQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AAPD

AAPD Risk / Return Rank: 1
AAPD Sharpe Ratio Rank: 0
AAPD Sortino Ratio Rank: 0
AAPD Omega Ratio Rank: 0
AAPD Calmar Ratio Rank: 1
AAPD Martin Ratio Rank: 1

YQQQ

YQQQ Risk / Return Rank: 1
YQQQ Sharpe Ratio Rank: 1
YQQQ Sortino Ratio Rank: 1
YQQQ Omega Ratio Rank: 1
YQQQ Calmar Ratio Rank: 3
YQQQ Martin Ratio Rank: 1

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AAPD vs. YQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AAPL Bear 1X Shares (AAPD) and YieldMax Short N100 Option Income Strategy ETF (YQQQ). 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	YQQQ	Difference
Sharpe ratio Return per unit of total volatility	-1.52	-1.14	-0.37
Sortino ratio Return per unit of downside risk	-2.18	-1.55	-0.64
Omega ratio Gain probability vs. loss probability	0.74	0.83	-0.09
Calmar ratio Return relative to maximum drawdown	-0.91	-0.69	-0.22
Martin ratio Return relative to average drawdown	-1.46	-1.68	+0.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AAPD vs. YQQQ - Sharpe Ratio Comparison

The current AAPD Sharpe Ratio is -1.52, which is lower than the YQQQ Sharpe Ratio of -1.14. The chart below compares the historical Sharpe Ratios of AAPD and YQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AAPD	YQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.52	-1.14	-0.37
Sharpe Ratio (All Time) Calculated using the full available price history	-0.59	-0.77	+0.18

Drawdowns

AAPD vs. YQQQ - Drawdown Comparison

The maximum AAPD drawdown since its inception was -59.79%, which is greater than YQQQ's maximum drawdown of -28.21%. Use the drawdown chart below to compare losses from any high point for AAPD and YQQQ.

Drawdown Indicators

	AAPD	YQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-59.79%	-28.21%	-31.58%
Max Drawdown (1Y) Largest decline over 1 year	-37.37%	-20.82%	-16.55%
Max Drawdown (3Y) Largest decline over 3 years	-49.07%	—	—
Current Drawdown Current decline from peak	-59.19%	-28.17%	-31.02%
Average Drawdown Average peak-to-trough decline	-34.19%	-14.22%	-19.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.16%	8.52%	+14.64%

Volatility

AAPD vs. YQQQ - Volatility Comparison

Direxion Daily AAPL Bear 1X Shares (AAPD) has a higher volatility of 5.47% compared to YieldMax Short N100 Option Income Strategy ETF (YQQQ) at 3.90%. This indicates that AAPD's price experiences larger fluctuations and is considered to be riskier than YQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAPD	YQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.47%	3.90%	+1.57%
Volatility (6M) Calculated over the trailing 6-month period	16.01%	9.87%	+6.14%
Volatility (1Y) Calculated over the trailing 1-year period	22.36%	12.51%	+9.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.02%	16.26%	+10.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.02%	16.26%	+10.76%

AAPD vs. YQQQ - Expense Ratio Comparison

AAPD has a 1.06% expense ratio, which is higher than YQQQ's 0.99% expense ratio.

Dividends

AAPD vs. YQQQ - Dividend Comparison

AAPD's dividend yield for the trailing twelve months is around 3.84%, less than YQQQ's 31.75% yield.

Position	TTM	2025	2024	2023	2022
AAPD Direxion Daily AAPL Bear 1X Shares	3.84%	3.60%	4.55%	4.37%	0.53%
YQQQ YieldMax Short N100 Option Income Strategy ETF	31.75%	31.71%	7.88%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AAPD and YQQQ in my portfolio?

AAPD and YQQQ have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AAPD or YQQQ?

AAPD has higher volatility (5.47%) compared to YQQQ (3.90%). In terms of maximum drawdown, AAPD dropped -59.79% vs YQQQ's -28.21%.

Which ETF is better, AAPD or YQQQ?

On 1-year performance, YQQQ leads with -14.25% vs -33.84% for AAPD. On fees, YQQQ is cheaper at 0.99% per year. On volatility, YQQQ has been the lower-risk option at 3.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AAPD or YQQQ?

Over the 1-year period, YQQQ has performed better with a -14.25% return vs -33.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AAPD or YQQQ?

YQQQ is cheaper with a 0.99% expense ratio, compared with 1.06% for AAPD.

Which ETF pays a higher dividend yield, AAPD or YQQQ?

YQQQ has the higher dividend yield at 31.75%, compared with 3.84% for AAPD.

What is the main difference between AAPD and YQQQ?

AAPD is categorized as Inverse Equities, while YQQQ is Derivative Income. They also come from different issuers: Direxion and YieldMax. Their fees differ too: 1.06% for AAPD and 0.99% for YQQQ.

Which has better risk-adjusted returns?

YQQQ currently has the higher Sharpe Ratio (-1.14 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.