AAPU vs. VALG

Last updated Jul 15, 2026

AAPU (Direxion Daily AAPL Bull 2X Shares) and VALG (Leverage Shares 2X Long VALE Daily ETF) are both Leveraged Equities funds - AAPU tracks the Apple Inc. (200%) while VALG tracks the Vale S.A. (VALE). Both are passively managed. At a 0.22 correlation, their price movements are largely independent. AAPU charges 0.96%/yr vs 0.75%/yr for VALG.

Performance

AAPU vs. VALG - Performance Comparison

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

Returns By Period

In the year-to-date period, AAPU achieves a 24.03% return, which is significantly higher than VALG's 9.11% return.

AAPU

• 1D: -1.65%
• 1M: 15.11%
• 6M: 35.05%
• YTD: 24.03%
• 1Y: 98.39%
• 3Y*: 23.34%
• 5Y*: —
• 10Y*: —

VALG

• 1D: 6.09%
• 1M: -15.01%
• 6M: -6.08%
• YTD: 9.11%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AAPU vs. VALG - Yearly Performance Comparison

	2026 (YTD)	2025
AAPU Direxion Daily AAPL Bull 2X Shares	24.03%	-0.39%
VALG Leverage Shares 2X Long VALE Daily ETF	9.11%	1.57%

Correlation

The correlation between AAPU and VALG is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	0.22

Return for Risk

AAPU vs. VALG — Risk / Return Rank

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

AAPU

AAPU Risk / Return Rank: 74
AAPU Sharpe Ratio Rank: 81
AAPU Sortino Ratio Rank: 74
AAPU Omega Ratio Rank: 75
AAPU Calmar Ratio Rank: 81
AAPU Martin Ratio Rank: 56

VALG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. VALG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AAPL Bull 2X Shares (AAPU) and Leverage Shares 2X Long VALE Daily ETF (VALG). 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	VALG	Difference
Sharpe ratio: Return per unit of total volatility	2.06	—	—
Sortino ratio: Return per unit of downside risk	2.64	—	—
Omega ratio: Gain probability vs. loss probability	1.35	—	—
Calmar ratio: Return relative to maximum drawdown	3.42	—	—
Martin ratio: Return relative to average drawdown	7.86	—	—

Drawdowns

AAPU vs. VALG - Drawdown Comparison

The maximum AAPU drawdown since its inception was -58.61%, which is greater than VALG's maximum drawdown of -41.01%. Use the drawdown chart below to compare losses from any high point for AAPU and VALG.

Drawdown Indicators

	AAPU	VALG	Difference
Max Drawdown Largest peak-to-trough decline	-58.61%	-41.01%	-17.60%
Max Drawdown (1Y) Largest decline over 1 year	-28.90%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-58.61%	—	—
Current Drawdown Current decline from peak	-2.35%	-36.85%	+34.50%
Average Drawdown Average peak-to-trough decline	-17.48%	-15.47%	-2.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.57%	—	—

Volatility

Volatility by Period

	AAPU	VALG	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.69%	—	—
Volatility (6M) Calculated over the trailing 6-month period	37.48%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	48.02%	73.64%	-25.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.40%	73.64%	-24.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.40%	73.64%	-24.24%

AAPU vs. VALG - Expense Ratio Comparison

AAPU has a 0.96% expense ratio, which is higher than VALG's 0.75% expense ratio.

Dividends

AAPU vs. VALG - Dividend Comparison

AAPU's dividend yield for the trailing twelve months is around 7.22%, while VALG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
AAPU Direxion Daily AAPL Bull 2X Shares	7.22%	8.66%	14.58%	2.32%	0.79%
VALG Leverage Shares 2X Long VALE Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AAPU and VALG in my portfolio?

AAPU and VALG have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AAPU or VALG?

On fees, VALG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AAPU or VALG?

VALG is cheaper with a 0.75% expense ratio, compared with 0.96% for AAPU.

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

AAPU has the higher dividend yield at 7.22%, compared with 0.00% for VALG.

What is the main difference between AAPU and VALG?

AAPU tracks Apple Inc. (200%), while VALG tracks Vale S.A. (VALE). They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 0.96% for AAPU and 0.75% for VALG.