APLZ vs. APPX

Last updated Aug 6, 2026

APLZ (Tradr 2X Short APLD Daily ETF) and APPX (Tradr 2X Long APP Daily ETF) are both exchange-traded funds - APLZ is a Inverse Equities fund actively managed by Tradr, while APPX is a Leveraged Equities fund actively managed by Tradr. Both are actively managed. Their -0.29 correlation means they have often moved in opposite directions in the past. APLZ charges 1.49%/yr vs 1.30%/yr for APPX.

Performance

APLZ vs. APPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Short APLD Daily ETF (APLZ) and Tradr 2X Long APP Daily ETF (APPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

APLZ

• 1D: 9.35%
• 1M: -13.86%
• 6M: -83.94%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

APPX

• 1D: -0.59%
• 1M: -43.51%
• 6M: -19.37%
• YTD: -76.48%
• 1Y: -38.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.63%

*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)
APLZ Tradr 2X Short APLD Daily ETF	$4.61M	$4.43M	$5.06M
APPX Tradr 2X Long APP Daily ETF	$14.97M	$11.90M	$22.03M

APLZ vs. APPX - Yearly Performance Comparison

	2026 (YTD)
APLZ Tradr 2X Short APLD Daily ETF	-83.79%
APPX Tradr 2X Long APP Daily ETF	-61.01%

Correlation

The correlation between APLZ and APPX is -0.29, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 22, 2026	-0.29

Return for Risk

APLZ vs. APPX — Risk / Return Rank

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

APLZ

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

APPX

APPX Risk / Return Rank: 10
APPX Sharpe Ratio Rank: 7
APPX Sortino Ratio Rank: 16
APPX Omega Ratio Rank: 17
APPX Calmar Ratio Rank: 5
APPX Martin Ratio Rank: 6

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.

APLZ vs. APPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Short APLD Daily ETF (APLZ) and Tradr 2X Long APP Daily ETF (APPX). 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.

	APLZ	APPX	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.27	—
Sortino ratio: Return per unit of downside risk	—	0.58	—
Omega ratio: Gain probability vs. loss probability	—	1.08	—
Calmar ratio: Return relative to maximum drawdown	—	-0.47	—
Martin ratio: Return relative to average drawdown	—	-0.69	—

Drawdowns

APLZ vs. APPX - Drawdown Comparison

The maximum APLZ drawdown since its inception was -91.78%, which is greater than APPX's maximum drawdown of -83.74%. Use the drawdown chart below to compare losses from any high point for APLZ and APPX.

Drawdown Indicators

	APLZ	APPX	Difference
Max Drawdown Largest peak-to-trough decline	-91.78%	-83.74%	-8.04%
Max Drawdown (1Y) Largest decline over 1 year	—	-83.74%	—
Current Drawdown Current decline from peak	-86.97%	-81.71%	-5.26%
Average Drawdown Average peak-to-trough decline	-62.81%	-42.21%	-20.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	56.57%	—

Volatility

Volatility by Period

	APLZ	APPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	36.19%	—
Volatility (6M) Calculated over the trailing 6-month period	—	119.13%	—
Volatility (1Y) Calculated over the trailing 1-year period	219.17%	145.16%	+74.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	219.17%	139.35%	+79.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	219.17%	139.35%	+79.82%

APLZ vs. APPX - Expense Ratio Comparison

APLZ has a 1.49% expense ratio, which is higher than APPX's 1.30% expense ratio.

Dividends

APLZ vs. APPX - Dividend Comparison

APLZ has not paid dividends to shareholders, while APPX's dividend yield for the trailing twelve months is around 39.88%.

Position	TTM	2025
APLZ Tradr 2X Short APLD Daily ETF	0.00%	0.00%
APPX Tradr 2X Long APP Daily ETF	39.88%	9.38%

Frequently Asked Questions

Can I hold both APLZ and APPX in my portfolio?

APLZ and APPX have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, APLZ or APPX?

On fees, APPX is cheaper at 1.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, APLZ or APPX?

APPX is cheaper with a 1.30% expense ratio, compared with 1.49% for APLZ.

Which ETF pays a higher dividend yield, APLZ or APPX?

APPX has the higher dividend yield at 39.88%, compared with 0.00% for APLZ.

What is the main difference between APLZ and APPX?

APLZ is categorized as Inverse Equities, while APPX is Leveraged Equities. Their fees differ too: 1.49% for APLZ and 1.30% for APPX.