AAPX vs. SKRE

Last updated Aug 4, 2026

AAPX (T-Rex 2X Long Apple Daily Target ETF) and SKRE (Tuttle Capital Daily 2X Inverse Regional Banks ETF) are both exchange-traded funds - AAPX is a Leveraged Equities fund actively managed by T-Rex, while SKRE is a Inverse Equities fund tracking the S&P Regional Banks Select Industry. AAPX is actively managed, while SKRE is passively managed. Over the past year, AAPX returned 87.44% vs -50.55% for SKRE. Their -0.27 correlation means they have often moved in opposite directions in the past. AAPX charges 1.05%/yr vs 0.75%/yr for SKRE.

Performance

AAPX vs. SKRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Long Apple Daily Target ETF (AAPX) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAPX achieves a 11.18% return, which is significantly higher than SKRE's -35.15% return.

AAPX

• 1D: -4.35%
• 1M: -5.29%
• 6M: 14.57%
• YTD: 11.18%
• 1Y: 87.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.35%

SKRE

• 1D: -2.27%
• 1M: -5.74%
• 6M: -23.25%
• YTD: -35.15%
• 1Y: -50.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -41.81%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AAPX T-Rex 2X Long Apple Daily Target ETF	$2.19M	$2.07M	$2.17M
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	$121.93K	$143.27K	$245.32K

AAPX vs. SKRE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AAPX T-Rex 2X Long Apple Daily Target ETF	11.18%	-4.95%	58.57%
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	-35.15%	-31.29%	-43.32%

Correlation

The correlation between AAPX and SKRE 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 (All Time) Calculated using the full available price history since Jan 11, 2024	-0.27

Return for Risk

AAPX vs. SKRE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AAPX

AAPX Risk / Return Rank: 68
AAPX Sharpe Ratio Rank: 71
AAPX Sortino Ratio Rank: 65
AAPX Omega Ratio Rank: 70
AAPX Calmar Ratio Rank: 78
AAPX Martin Ratio Rank: 54

SKRE

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AAPX vs. SKRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Long Apple Daily Target ETF (AAPX) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). 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.

	AAPX	SKRE	Difference
Sharpe ratio: Return per unit of total volatility	1.70	-1.11	+2.81
Sortino ratio: Return per unit of downside risk	2.24	-1.79	+4.03
Omega ratio: Gain probability vs. loss probability	1.30	0.80	+0.51
Calmar ratio: Return relative to maximum drawdown	2.92	-0.99	+3.90
Martin ratio: Return relative to average drawdown	6.59	-1.65	+8.24

AAPX vs. SKRE - Sharpe Ratio Comparison

The current AAPX Sharpe Ratio is 1.70, which is higher than the SKRE Sharpe Ratio of -1.11. The chart below compares the historical Sharpe Ratios of AAPX and SKRE, 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

AAPX vs. SKRE - Drawdown Comparison

The maximum AAPX drawdown since its inception was -58.55%, smaller than the maximum SKRE drawdown of -79.33%. Use the drawdown chart below to compare losses from any high point for AAPX and SKRE.

Drawdown Indicators

	AAPX	SKRE	Difference
Max Drawdown Largest peak-to-trough decline	-58.55%	-79.33%	+20.78%
Max Drawdown (1Y) Largest decline over 1 year	-30.12%	-51.44%	+21.32%
Current Drawdown Current decline from peak	-21.02%	-78.96%	+57.94%
Average Drawdown Average peak-to-trough decline	-18.65%	-49.09%	+30.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.31%	30.75%	-17.44%

Volatility

AAPX vs. SKRE - Volatility Comparison

T-Rex 2X Long Apple Daily Target ETF (AAPX) has a higher volatility of 21.47% compared to Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) at 10.82%. This indicates that AAPX's price experiences larger fluctuations and is considered to be riskier than SKRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAPX	SKRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.47%	10.82%	+10.65%
Volatility (6M) Calculated over the trailing 6-month period	41.73%	30.42%	+11.31%
Volatility (1Y) Calculated over the trailing 1-year period	51.74%	45.86%	+5.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.85%	54.75%	+1.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.85%	54.75%	+1.10%

AAPX vs. SKRE - Expense Ratio Comparison

AAPX has a 1.05% expense ratio, which is higher than SKRE's 0.75% expense ratio.

Dividends

AAPX vs. SKRE - Dividend Comparison

AAPX's dividend yield for the trailing twelve months is around 0.60%, more than SKRE's 0.39% yield.

Position	TTM	2025	2024
AAPX T-Rex 2X Long Apple Daily Target ETF	0.60%	0.67%	21.46%
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	0.39%	0.26%	3.16%

Frequently Asked Questions

Can I hold both AAPX and SKRE in my portfolio?

AAPX and SKRE 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.

Which is riskier, AAPX or SKRE?

AAPX has higher volatility (21.47%) compared to SKRE (10.82%). In terms of maximum drawdown, AAPX dropped -58.55% vs SKRE's -79.33%.

Which ETF is better, AAPX or SKRE?

On 1-year performance, AAPX leads with 87.44% vs -50.55% for SKRE. On fees, SKRE is cheaper at 0.75% per year. On volatility, SKRE has been the lower-risk option at 10.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AAPX or SKRE?

Over the 1-year period, AAPX has performed better with a 87.44% return vs -50.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AAPX or SKRE?

SKRE is cheaper with a 0.75% expense ratio, compared with 1.05% for AAPX.

Which ETF pays a higher dividend yield, AAPX or SKRE?

AAPX has the higher dividend yield at 0.60%, compared with 0.39% for SKRE.

What is the main difference between AAPX and SKRE?

AAPX is categorized as Leveraged Equities, while SKRE is Inverse Equities. They also come from different issuers: T-Rex and Tuttle. Their fees differ too: 1.05% for AAPX and 0.75% for SKRE.

Which has better risk-adjusted returns?

AAPX currently has the higher Sharpe Ratio (1.70 vs -1.11), 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.