ASMG vs. AAPU

Last updated Jun 23, 2026

ASMG (Leverage Shares 2X Long ASML Daily ETF) and AAPU (Direxion Daily AAPL Bull 2X Shares) are both Leveraged Equities funds. ASMG is actively managed, while AAPU is passively managed. Over the past year, ASMG returned 386.21% vs 91.23% for AAPU. At a 0.33 correlation, their price movements are largely independent. ASMG charges 0.75%/yr vs 1.04%/yr for AAPU.

Performance

ASMG vs. AAPU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long ASML Daily ETF (ASMG) and Direxion Daily AAPL Bull 2X Shares (AAPU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASMG achieves a 176.24% return, which is significantly higher than AAPU's 11.74% return.

ASMG

• 1D: -0.22%
• 1M: 34.94%
• YTD: 176.24%
• 6M: 182.30%
• 1Y: 386.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AAPU

• 1D: -0.72%
• 1M: -8.56%
• YTD: 11.74%
• 6M: 12.20%
• 1Y: 91.23%
• 3Y*: 20.19%
• 5Y*: —
• 10Y*: —

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

ASMG vs. AAPU - Yearly Performance Comparison

	2026 (YTD)	2025
ASMG Leverage Shares 2X Long ASML Daily ETF	176.24%	62.68%
AAPU Direxion Daily AAPL Bull 2X Shares	11.74%	11.32%

Correlation

The correlation between ASMG and AAPU is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (All Time) Calculated using the full available price history since Jan 14, 2025	0.33

Return for Risk

ASMG vs. AAPU — Risk / Return Rank

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

ASMG

ASMG Risk / Return Rank: 91
ASMG Sharpe Ratio Rank: 97
ASMG Sortino Ratio Rank: 86
ASMG Omega Ratio Rank: 80
ASMG Calmar Ratio Rank: 97
ASMG Martin Ratio Rank: 95

AAPU

AAPU Risk / Return Rank: 58
AAPU Sharpe Ratio Rank: 64
AAPU Sortino Ratio Rank: 58
AAPU Omega Ratio Rank: 57
AAPU Calmar Ratio Rank: 66
AAPU Martin Ratio Rank: 46

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.

ASMG vs. AAPU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long ASML Daily ETF (ASMG) and Direxion Daily AAPL Bull 2X Shares (AAPU). 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.

	ASMG	AAPU	Difference
Sharpe ratio: Return per unit of total volatility	4.52	2.03	+2.49
Sortino ratio: Return per unit of downside risk	3.70	2.68	+1.02
Omega ratio: Gain probability vs. loss probability	1.45	1.34	+0.11
Calmar ratio: Return relative to maximum drawdown	11.26	3.17	+8.09
Martin ratio: Return relative to average drawdown	28.02	7.51	+20.51

ASMG vs. AAPU - Sharpe Ratio Comparison

The current ASMG Sharpe Ratio is 4.52, which is higher than the AAPU Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of ASMG and AAPU, 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

ASMG vs. AAPU - Drawdown Comparison

The maximum ASMG drawdown since its inception was -43.95%, smaller than the maximum AAPU drawdown of -58.61%. Use the drawdown chart below to compare losses from any high point for ASMG and AAPU.

Drawdown Indicators

	ASMG	AAPU	Difference
Max Drawdown Largest peak-to-trough decline	-43.95%	-58.61%	+14.66%
Max Drawdown (1Y) Largest decline over 1 year	-34.56%	-28.90%	-5.66%
Max Drawdown (3Y) Largest decline over 3 years	—	-58.61%	—
Current Drawdown Current decline from peak	-0.22%	-12.03%	+11.81%
Average Drawdown Average peak-to-trough decline	-12.91%	-17.59%	+4.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.87%	12.19%	+1.68%

Volatility

ASMG vs. AAPU - Volatility Comparison

Leverage Shares 2X Long ASML Daily ETF (ASMG) has a higher volatility of 32.41% compared to Direxion Daily AAPL Bull 2X Shares (AAPU) at 14.05%. This indicates that ASMG's price experiences larger fluctuations and is considered to be riskier than AAPU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASMG	AAPU	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.41%	14.05%	+18.36%
Volatility (6M) Calculated over the trailing 6-month period	68.33%	33.20%	+35.13%
Volatility (1Y) Calculated over the trailing 1-year period	86.22%	45.20%	+41.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	86.79%	48.92%	+37.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	86.79%	48.92%	+37.87%

ASMG vs. AAPU - Expense Ratio Comparison

ASMG has a 0.75% expense ratio, which is lower than AAPU's 1.04% expense ratio.

Dividends

ASMG vs. AAPU - Dividend Comparison

ASMG's dividend yield for the trailing twelve months is around 4.06%, less than AAPU's 7.61% yield.

Position	TTM	2025	2024	2023	2022
AAPU Direxion Daily AAPL Bull 2X Shares	7.61%	8.66%	14.58%	2.32%	0.79%
ASMG Leverage Shares 2X Long ASML Daily ETF	4.06%	11.20%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ASMG and AAPU in my portfolio?

ASMG and AAPU have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ASMG or AAPU?

ASMG has higher volatility (32.41%) compared to AAPU (14.05%). In terms of maximum drawdown, ASMG dropped -43.95% vs AAPU's -58.61%.

Which ETF is better, ASMG or AAPU?

On 1-year performance, ASMG leads with 386.21% vs 91.23% for AAPU. On fees, ASMG is cheaper at 0.75% per year. On volatility, AAPU has been the lower-risk option at 14.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ASMG or AAPU?

Over the 1-year period, ASMG has performed better with a 386.21% return vs 91.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ASMG or AAPU?

ASMG is cheaper with a 0.75% expense ratio, compared with 1.04% for AAPU.

Which ETF pays a higher dividend yield, ASMG or AAPU?

AAPU has the higher dividend yield at 7.61%, compared with 4.06% for ASMG.

What is the main difference between ASMG and AAPU?

They also come from different issuers: Leverage Shares and Direxion. Their fees differ too: 0.75% for ASMG and 1.04% for AAPU.

Which has better risk-adjusted returns?

ASMG currently has the higher Sharpe Ratio (4.52 vs 2.03), 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.