APLZ vs. MSFD

Last updated Jun 6, 2026

APLZ (Tradr 2X Short APLD Daily ETF) and MSFD (Direxion Daily MSFT Bear 1X Shares) are both Inverse Equities funds - APLZ tracks the Applied Digital Corporation (APLD) while MSFD tracks the Microsoft Corporation (-100%). Both are passively managed. At a 0.15 correlation, their price movements are largely independent. APLZ charges 1.49%/yr vs 1.06%/yr for MSFD.

Performance

APLZ vs. MSFD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Short APLD Daily ETF (APLZ) and Direxion Daily MSFT Bear 1X Shares (MSFD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

APLZ

• 1D: 21.29%
• 1M: -13.55%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSFD

• 1D: 2.74%
• 1M: -1.55%
• YTD: 13.15%
• 6M: 13.29%
• 1Y: 10.90%
• 3Y*: -6.61%
• 5Y*: —
• 10Y*: —

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

APLZ vs. MSFD - Yearly Performance Comparison

	2026 (YTD)
APLZ Tradr 2X Short APLD Daily ETF	-85.33%
MSFD Direxion Daily MSFT Bear 1X Shares	5.45%

Correlation

The correlation between APLZ and MSFD is 0.15, 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 Jan 23, 2026	0.15

Return for Risk

APLZ vs. MSFD — Risk / Return Rank

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

MSFD

MSFD Risk / Return Rank: 17
MSFD Sharpe Ratio Rank: 16
MSFD Sortino Ratio Rank: 18
MSFD Omega Ratio Rank: 18
MSFD Calmar Ratio Rank: 15
MSFD Martin Ratio Rank: 16

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.

APLZ vs. MSFD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Short APLD Daily ETF (APLZ) and Direxion Daily MSFT Bear 1X Shares (MSFD). 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.

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

Sharpe Ratios by Period

	APLZ	MSFD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.43	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.44	-0.49	+0.05

Drawdowns

APLZ vs. MSFD - Drawdown Comparison

The maximum APLZ drawdown since its inception was -91.78%, which is greater than MSFD's maximum drawdown of -59.90%. Use the drawdown chart below to compare losses from any high point for APLZ and MSFD.

Drawdown Indicators

	APLZ	MSFD	Difference
Max Drawdown Largest peak-to-trough decline	-91.78%	-59.90%	-31.88%
Max Drawdown (1Y) Largest decline over 1 year	—	-23.25%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-40.50%	—
Current Drawdown Current decline from peak	-87.79%	-48.97%	-38.82%
Average Drawdown Average peak-to-trough decline	-53.63%	-41.61%	-12.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.22%	—

Volatility

Volatility by Period

	APLZ	MSFD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.51%	—
Volatility (6M) Calculated over the trailing 6-month period	—	22.07%	—
Volatility (1Y) Calculated over the trailing 1-year period	229.43%	25.46%	+203.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	229.43%	26.16%	+203.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	229.43%	26.16%	+203.27%

APLZ vs. MSFD - Expense Ratio Comparison

APLZ has a 1.49% expense ratio, which is higher than MSFD's 1.06% expense ratio.

Dividends

APLZ vs. MSFD - Dividend Comparison

APLZ has not paid dividends to shareholders, while MSFD's dividend yield for the trailing twelve months is around 2.76%.

Position	TTM	2025	2024	2023	2022
APLZ Tradr 2X Short APLD Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%
MSFD Direxion Daily MSFT Bear 1X Shares	2.76%	3.33%	4.46%	4.43%	0.74%

Frequently Asked Questions

Can I hold both APLZ and MSFD in my portfolio?

APLZ and MSFD have a correlation of 0.15, 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 MSFD?

On fees, MSFD is cheaper at 1.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, APLZ or MSFD?

MSFD is cheaper with a 1.06% expense ratio, compared with 1.49% for APLZ.

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

MSFD has the higher dividend yield at 2.76%, compared with 0.00% for APLZ.

What is the main difference between APLZ and MSFD?

APLZ tracks Applied Digital Corporation (APLD), while MSFD tracks Microsoft Corporation (-100%). They also come from different issuers: Tradr and Direxion. Their fees differ too: 1.49% for APLZ and 1.06% for MSFD.