BMNZ vs. APLZ

Last updated Jul 17, 2026

BMNZ (Defiance Daily Target 2X Short BMNR ETF) and APLZ (Tradr 2X Short APLD Daily ETF) are both Inverse Equities funds - BMNZ tracks the BitMine Immersion Technologies, Inc. while APLZ tracks the Applied Digital Corporation (APLD). Both are passively managed. A 0.52 correlation means they provide meaningful diversification when combined. BMNZ charges 1.31%/yr vs 1.49%/yr for APLZ.

Performance

BMNZ vs. APLZ - Performance Comparison

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

Returns By Period

BMNZ

• 1D: 4.39%
• 1M: -5.35%
• 6M: 28.59%
• YTD: -13.39%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

APLZ

• 1D: 17.90%
• 1M: 171.17%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BMNZ vs. APLZ - Yearly Performance Comparison

	2026 (YTD)
BMNZ Defiance Daily Target 2X Short BMNR ETF	20.22%
APLZ Tradr 2X Short APLD Daily ETF	-71.71%

Correlation

The correlation between BMNZ and APLZ is 0.52, 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	0.52

Return for Risk

BMNZ vs. APLZ - Risk-Adjusted Trends Comparison

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

BMNZ vs. APLZ - Drawdown Comparison

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

Drawdown Indicators

	BMNZ	APLZ	Difference
Max Drawdown Largest peak-to-trough decline	-70.80%	-91.78%	+20.98%
Current Drawdown Current decline from peak	-51.51%	-77.25%	+25.74%
Average Drawdown Average peak-to-trough decline	-49.97%	-60.59%	+10.62%

Volatility

Volatility by Period

	BMNZ	APLZ	Difference
Volatility (1Y) Calculated over the trailing 1-year period	184.15%	213.67%	-29.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	184.15%	213.67%	-29.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	184.15%	213.67%	-29.52%

BMNZ vs. APLZ - Expense Ratio Comparison

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

Dividends

BMNZ vs. APLZ - Dividend Comparison

Neither BMNZ nor APLZ has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BMNZ and APLZ in my portfolio?

BMNZ and APLZ have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BMNZ or APLZ?

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, BMNZ or APLZ?

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

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

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

What is the main difference between BMNZ and APLZ?

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