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AAPD vs. ZIVB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

AAPD vs. ZIVB

Last updated Jun 4, 2026

AAPD (Direxion Daily AAPL Bear 1X Shares) and ZIVB (-1x Short VIX Mid-Term Futures Strategy ETF) are both Inverse Equities funds. AAPD is passively managed, while ZIVB is actively managed. AAPD charges 1.06%/yr vs 1.35%/yr for ZIVB.

Performance

AAPD vs. ZIVB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily AAPL Bear 1X Shares (AAPD) and -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

AAPD

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

ZIVB

1D
0.00%
1M
—
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

AAPD vs. ZIVB - Yearly Performance Comparison

2026 (YTD)
AAPD
Direxion Daily AAPL Bear 1X Shares		0.57%
ZIVB
-1x Short VIX Mid-Term Futures Strategy ETF		0.00%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Direxion Daily AAPL Bear 1X Shares

-1x Short VIX Mid-Term Futures Strategy ETF

Often compared with AAPD:
AAPD vs. AAPUAAPD vs. AAPLAAPD vs. MSFTAAPD vs. VTIAAPD vs. MSTZAAPD vs. HDGEAAPD vs. EFZ
Often compared with ZIVB:
ZIVB vs. YMAXZIVB vs. SVXYZIVB vs. DXYZZIVB vs. RISRZIVB vs. SVOLZIVB vs. UVXYZIVB vs. SVIX

Return for Risk

AAPD vs. ZIVB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
AAPD
AAPD Risk / Return Rank: 11
Overall Rank
AAPD Sharpe Ratio Rank: 00
Sharpe Ratio Rank
AAPD Sortino Ratio Rank: 00
Sortino Ratio Rank
AAPD Omega Ratio Rank: 00
Omega Ratio Rank
AAPD Calmar Ratio Rank: 11
Calmar Ratio Rank
AAPD Martin Ratio Rank: 11
Martin Ratio Rank
ZIVB
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. ZIVB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AAPL Bear 1X Shares (AAPD) and -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB). 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.

AAPDZIVBDifference
Sharpe ratioReturn per unit of total volatility
-1.52

—

—

Sortino ratioReturn per unit of downside risk
-2.18

—

—

Omega ratioGain probability vs. loss probability

0.74

—

—

Calmar ratioReturn relative to maximum drawdown

-0.91

—

—

Martin ratioReturn relative to average drawdown

-1.46

—

—

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. ZIVB - Sharpe Ratio Comparison

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Sharpe Ratios by Period

AAPDZIVBDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-1.52

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.59

—

—

Drawdowns

AAPD vs. ZIVB - Drawdown Comparison

The maximum AAPD drawdown since its inception was -59.79%, which is greater than ZIVB's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for AAPD and ZIVB.

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Drawdown Indicators

AAPDZIVBDifference

Max Drawdown

Largest peak-to-trough decline

-59.79%

0.00%

-59.79%

Max Drawdown (1Y)

Largest decline over 1 year

-37.37%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-49.07%

—

—

Current Drawdown

Current decline from peak

-59.19%

0.00%

-59.19%

Average Drawdown

Average peak-to-trough decline

-34.19%

0.00%

-34.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

23.16%

—

—

Volatility

AAPD vs. ZIVB - Volatility Comparison

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Volatility by Period

AAPDZIVBDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.47%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

16.01%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

22.36%

0.00%

+22.36%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

27.02%

0.00%

+27.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.02%

0.00%

+27.02%

AAPD vs. ZIVB - Expense Ratio Comparison

AAPD has a 1.06% expense ratio, which is lower than ZIVB's 1.35% expense ratio.

Dividends

AAPD vs. ZIVB - Dividend Comparison

AAPD's dividend yield for the trailing twelve months is around 3.84%, while ZIVB has not paid dividends to shareholders.

PositionTTM2025202420232022
AAPD
Direxion Daily AAPL Bear 1X Shares		3.84%3.60%4.55%4.37%0.53%
ZIVB
-1x Short VIX Mid-Term Futures Strategy ETF		0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

On fees, AAPD is cheaper at 1.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

AAPD is cheaper with a 1.06% expense ratio, compared with 1.35% for ZIVB.

AAPD has the higher dividend yield at 3.84%, compared with 0.00% for ZIVB.

They also come from different issuers: Direxion and Volatility Shares. Their fees differ too: 1.06% for AAPD and 1.35% for ZIVB.

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