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AAPX vs. SPXL
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

AAPX vs. SPXL

Last updated May 16, 2025

Compare and contrast key facts about T-Rex 2X Long Apple Daily Target ETF (AAPX) and Direxion Daily S&P 500 Bull 3X Shares (SPXL).

AAPX and SPXL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AAPX is an actively managed fund by T-Rex. It was launched on Jan 10, 2024. SPXL is a passively managed fund by Direxion that tracks the performance of the S&P 500 Index (300%). It was launched on Nov 5, 2008.

Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: AAPX or SPXL.

Correlation

The correlation between AAPX and SPXL is 0.54, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Performance

AAPX vs. SPXL - 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 Direxion Daily S&P 500 Bull 3X Shares (SPXL). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Sharpe Ratio

AAPX:

0.01

SPXL:

0.24

Sortino Ratio

AAPX:

0.57

SPXL:

0.85

Omega Ratio

AAPX:

1.08

SPXL:

1.13

Calmar Ratio

AAPX:

0.08

SPXL:

0.40

Martin Ratio

AAPX:

0.22

SPXL:

1.28

Ulcer Index

AAPX:

20.85%

SPXL:

15.09%

Daily Std Dev

AAPX:

65.37%

SPXL:

57.86%

Max Drawdown

AAPX:

-58.55%

SPXL:

-76.86%

Current Drawdown

AAPX:

-40.76%

SPXL:

-18.55%

Returns By Period

In the year-to-date period, AAPX achieves a -36.46% return, which is significantly lower than SPXL's -8.82% return.

AAPX

YTD

-36.46%

1M

7.61%

6M

-24.45%

1Y

0.90%

5Y*

N/A

10Y*

N/A

SPXL

YTD

-8.82%

1M

29.62%

6M

-13.20%

1Y

13.64%

5Y*

36.17%

10Y*

21.42%

*Annualized

Compare stocks, funds, or ETFs

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AAPX vs. SPXL - Expense Ratio Comparison

AAPX has a 1.05% expense ratio, which is higher than SPXL's 1.02% expense ratio.

AAPX
T-Rex 2X Long Apple Daily Target ETF
SPXL
Direxion Daily S&P 500 Bull 3X Shares

Risk-Adjusted Performance

AAPX vs. SPXL — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
AAPX
The Risk-Adjusted Performance Rank of AAPX is 2626
Overall Rank
The Sharpe Ratio Rank of AAPX is 1717
Sharpe Ratio Rank
The Sortino Ratio Rank of AAPX is 3434
Sortino Ratio Rank
The Omega Ratio Rank of AAPX is 3535
Omega Ratio Rank
The Calmar Ratio Rank of AAPX is 2121
Calmar Ratio Rank
The Martin Ratio Rank of AAPX is 2020
Martin Ratio Rank
SPXL
The Risk-Adjusted Performance Rank of SPXL is 4545
Overall Rank
The Sharpe Ratio Rank of SPXL is 2929
Sharpe Ratio Rank
The Sortino Ratio Rank of SPXL is 5353
Sortino Ratio Rank
The Omega Ratio Rank of SPXL is 5656
Omega Ratio Rank
The Calmar Ratio Rank of SPXL is 4747
Calmar Ratio Rank
The Martin Ratio Rank of SPXL is 4242
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

AAPX vs. SPXL - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Long Apple Daily Target ETF (AAPX) and Direxion Daily S&P 500 Bull 3X Shares (SPXL). 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.

The current AAPX Sharpe Ratio is 0.01, which is lower than the SPXL Sharpe Ratio of 0.24. The chart below compares the historical Sharpe Ratios of AAPX and SPXL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Dividends

AAPX vs. SPXL - Dividend Comparison

AAPX's dividend yield for the trailing twelve months is around 33.77%, more than SPXL's 0.88% yield.

TTM20242023202220212020201920182017
AAPX
T-Rex 2X Long Apple Daily Target ETF		33.77%21.46%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SPXL
Direxion Daily S&P 500 Bull 3X Shares		0.88%0.74%0.98%0.32%0.11%0.22%0.84%1.02%3.88%

Drawdowns

AAPX vs. SPXL - Drawdown Comparison

The maximum AAPX drawdown since its inception was -58.55%, smaller than the maximum SPXL drawdown of -76.86%. Use the drawdown chart below to compare losses from any high point for AAPX and SPXL. For additional features, visit the drawdowns tool.

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Volatility

AAPX vs. SPXL - Volatility Comparison

T-Rex 2X Long Apple Daily Target ETF (AAPX) has a higher volatility of 21.11% compared to Direxion Daily S&P 500 Bull 3X Shares (SPXL) at 18.34%. This indicates that AAPX's price experiences larger fluctuations and is considered to be riskier than SPXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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