APLZ vs. BMNZ

Last updated Jun 26, 2026

APLZ (Tradr 2X Short APLD Daily ETF) and BMNZ (Defiance Daily Target 2X Short BMNR ETF) are both Inverse Equities funds - APLZ tracks the Applied Digital Corporation (APLD) while BMNZ tracks the BitMine Immersion Technologies, Inc.. Both are passively managed. A 0.59 correlation means they provide meaningful diversification when combined. APLZ charges 1.49%/yr vs 1.31%/yr for BMNZ.

Performance

APLZ vs. BMNZ - Performance Comparison

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

Returns By Period

APLZ

• 1D: 5.04%
• 1M: 4.16%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BMNZ

• 1D: 9.79%
• 1M: 76.32%
• YTD: 29.97%
• 6M: 50.80%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

APLZ vs. BMNZ - Yearly Performance Comparison

	2026 (YTD)
APLZ Tradr 2X Short APLD Daily ETF	-86.93%
BMNZ Defiance Daily Target 2X Short BMNR ETF	80.42%

Correlation

The correlation between APLZ and BMNZ is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 22, 2026	0.59

Return for Risk

APLZ vs. BMNZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Short APLD Daily ETF (APLZ) and Defiance Daily Target 2X Short BMNR ETF (BMNZ). 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.

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

Drawdowns

APLZ vs. BMNZ - Drawdown Comparison

The maximum APLZ drawdown since its inception was -91.78%, which is greater than BMNZ's maximum drawdown of -70.80%. Use the drawdown chart below to compare losses from any high point for APLZ and BMNZ.

Drawdown Indicators

	APLZ	BMNZ	Difference
Max Drawdown Largest peak-to-trough decline	-91.78%	-70.80%	-20.98%
Current Drawdown Current decline from peak	-89.49%	-27.23%	-62.26%
Average Drawdown Average peak-to-trough decline	-57.58%	-50.65%	-6.93%

Volatility

Volatility by Period

	APLZ	BMNZ	Difference
Volatility (1Y) Calculated over the trailing 1-year period	219.87%	187.04%	+32.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	219.87%	187.04%	+32.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	219.87%	187.04%	+32.83%

APLZ vs. BMNZ - Expense Ratio Comparison

APLZ has a 1.49% expense ratio, which is higher than BMNZ's 1.31% expense ratio.

Dividends

APLZ vs. BMNZ - Dividend Comparison

Neither APLZ nor BMNZ has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both APLZ and BMNZ in my portfolio?

APLZ and BMNZ have a correlation of 0.59, 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 BMNZ?

On fees, BMNZ is cheaper at 1.31% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, APLZ or BMNZ?

BMNZ is cheaper with a 1.31% expense ratio, compared with 1.49% for APLZ.

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

APLZ and BMNZ have nearly identical dividend yields, around 0.00%.

What is the main difference between APLZ and BMNZ?

APLZ tracks Applied Digital Corporation (APLD), while BMNZ tracks BitMine Immersion Technologies, Inc.. They also come from different issuers: Tradr and Defiance. Their fees differ too: 1.49% for APLZ and 1.31% for BMNZ.