AAPU vs. TSDD

Last updated Jun 24, 2026

AAPU (Direxion Daily AAPL Bull 2X Shares) and TSDD (GraniteShares 2x Short TSLA Daily ETF) are both exchange-traded funds - AAPU is a Leveraged Equities fund tracking the Apple Inc. (150%), while TSDD is a Inverse Equities fund actively managed by GraniteShares. AAPU is passively managed, while TSDD is actively managed. Over the past year, AAPU returned 85.62% vs -50.11% for TSDD. At a correlation of -0.37, they often move in opposite directions. AAPU charges 1.04%/yr vs 1.50%/yr for TSDD.

Performance

AAPU vs. TSDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily AAPL Bull 2X Shares (AAPU) and GraniteShares 2x Short TSLA Daily ETF (TSDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAPU achieves a 9.14% return, which is significantly lower than TSDD's 12.81% return.

AAPU

• 1D: -2.33%
• 1M: -10.69%
• YTD: 9.14%
• 6M: 8.52%
• 1Y: 85.62%
• 3Y*: 19.25%
• 5Y*: —
• 10Y*: —

TSDD

• 1D: 11.65%
• 1M: 18.16%
• YTD: 12.81%
• 6M: 31.20%
• 1Y: -50.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AAPU vs. TSDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AAPU Direxion Daily AAPL Bull 2X Shares	9.14%	-2.91%	58.45%	11.71%
TSDD GraniteShares 2x Short TSLA Daily ETF	12.81%	-74.84%	-89.21%	-20.49%

Correlation

The correlation between AAPU and TSDD is -0.28, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.28
Correlation (All Time) Calculated using the full available price history since Aug 22, 2023	-0.37

AAPU vs. TSDD - Sectors Allocation Comparison

Sectors	AAPU	TSDD
Technology	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	200.1%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

AAPU vs. TSDD — Risk / Return Rank

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

AAPU

AAPU Risk / Return Rank: 56
AAPU Sharpe Ratio Rank: 60
AAPU Sortino Ratio Rank: 56
AAPU Omega Ratio Rank: 55
AAPU Calmar Ratio Rank: 63
AAPU Martin Ratio Rank: 44

TSDD

TSDD Risk / Return Rank: 4
TSDD Sharpe Ratio Rank: 4
TSDD Sortino Ratio Rank: 5
TSDD Omega Ratio Rank: 5
TSDD Calmar Ratio Rank: 3
TSDD Martin Ratio Rank: 5

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.

AAPU vs. TSDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AAPL Bull 2X Shares (AAPU) and GraniteShares 2x Short TSLA Daily ETF (TSDD). 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.

	AAPU	TSDD	Difference
Sharpe ratio: Return per unit of total volatility	1.91	-0.57	+2.48
Sortino ratio: Return per unit of downside risk	2.56	-0.50	+3.06
Omega ratio: Gain probability vs. loss probability	1.33	0.95	+0.38
Calmar ratio: Return relative to maximum drawdown	2.98	-0.69	+3.67
Martin ratio: Return relative to average drawdown	7.03	-0.89	+7.92

AAPU vs. TSDD - Sharpe Ratio Comparison

The current AAPU Sharpe Ratio is 1.91, which is higher than the TSDD Sharpe Ratio of -0.57. The chart below compares the historical Sharpe Ratios of AAPU and TSDD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AAPU vs. TSDD - Drawdown Comparison

The maximum AAPU drawdown since its inception was -58.61%, smaller than the maximum TSDD drawdown of -99.03%. Use the drawdown chart below to compare losses from any high point for AAPU and TSDD.

Drawdown Indicators

	AAPU	TSDD	Difference
Max Drawdown Largest peak-to-trough decline	-58.61%	-99.03%	+40.42%
Max Drawdown (1Y) Largest decline over 1 year	-28.90%	-72.39%	+43.49%
Max Drawdown (3Y) Largest decline over 3 years	-58.61%	—	—
Current Drawdown Current decline from peak	-14.08%	-98.71%	+84.63%
Average Drawdown Average peak-to-trough decline	-17.59%	-71.62%	+54.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.22%	56.48%	-44.26%

Volatility

AAPU vs. TSDD - Volatility Comparison

The current volatility for Direxion Daily AAPL Bull 2X Shares (AAPU) is 14.03%, while GraniteShares 2x Short TSLA Daily ETF (TSDD) has a volatility of 27.76%. This indicates that AAPU experiences smaller price fluctuations and is considered to be less risky than TSDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAPU	TSDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.03%	27.76%	-13.73%
Volatility (6M) Calculated over the trailing 6-month period	33.29%	56.76%	-23.47%
Volatility (1Y) Calculated over the trailing 1-year period	45.19%	89.21%	-44.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.91%	114.32%	-65.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.91%	114.32%	-65.41%

AAPU vs. TSDD - Expense Ratio Comparison

AAPU has a 1.04% expense ratio, which is lower than TSDD's 1.50% expense ratio.

Dividends

AAPU vs. TSDD - Dividend Comparison

AAPU's dividend yield for the trailing twelve months is around 7.79%, more than TSDD's 7.47% yield.

Position	TTM	2025	2024	2023	2022
AAPU Direxion Daily AAPL Bull 2X Shares	7.79%	8.66%	14.58%	2.32%	0.79%
TSDD GraniteShares 2x Short TSLA Daily ETF	7.47%	8.42%	0.00%	24.84%	0.00%

Frequently Asked Questions

Can I hold both AAPU and TSDD in my portfolio?

AAPU and TSDD have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AAPU or TSDD?

TSDD has higher volatility (27.76%) compared to AAPU (14.03%). In terms of maximum drawdown, AAPU dropped -58.61% vs TSDD's -99.03%.

Which ETF is better, AAPU or TSDD?

On 1-year performance, AAPU leads with 85.62% vs -50.11% for TSDD. On fees, AAPU is cheaper at 1.04% per year. On volatility, AAPU has been the lower-risk option at 14.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AAPU or TSDD?

Over the 1-year period, AAPU has performed better with a 85.62% return vs -50.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AAPU or TSDD?

AAPU is cheaper with a 1.04% expense ratio, compared with 1.50% for TSDD.

Which ETF pays a higher dividend yield, AAPU or TSDD?

AAPU has the higher dividend yield at 7.79%, compared with 7.47% for TSDD.

What is the main difference between AAPU and TSDD?

AAPU is categorized as Leveraged Equities, while TSDD is Inverse Equities. They also come from different issuers: Direxion and GraniteShares. Their fees differ too: 1.04% for AAPU and 1.50% for TSDD.

Which has better risk-adjusted returns?

AAPU currently has the higher Sharpe Ratio (1.91 vs -0.57), 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.