DUOG vs. AAPB

Last updated Jun 4, 2026

DUOG (Leverage Shares 2X Long DUOL Daily ETF) and AAPB (GraniteShares 2x Long AAPL Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.05 correlation, their price movements are largely independent. DUOG charges 0.75%/yr vs 1.15%/yr for AAPB.

Performance

DUOG vs. AAPB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long DUOL Daily ETF (DUOG) and GraniteShares 2x Long AAPL Daily ETF (AAPB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DUOG achieves a -70.05% return, which is significantly lower than AAPB's 23.70% return.

DUOG

• 1D: -4.87%
• 1M: -9.05%
• YTD: -70.05%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AAPB

• 1D: -3.30%
• 1M: 24.81%
• YTD: 23.70%
• 6M: 12.69%
• 1Y: 106.72%
• 3Y*: 23.23%
• 5Y*: —
• 10Y*: —

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

DUOG vs. AAPB - Yearly Performance Comparison

	2026 (YTD)	2025
DUOG Leverage Shares 2X Long DUOL Daily ETF	-70.05%	-24.80%
AAPB GraniteShares 2x Long AAPL Daily ETF	23.70%	-4.55%

Correlation

The correlation between DUOG and AAPB is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 12, 2025	0.05

Return for Risk

DUOG vs. AAPB — Risk / Return Rank

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

AAPB

AAPB Risk / Return Rank: 66
AAPB Sharpe Ratio Rank: 72
AAPB Sortino Ratio Rank: 64
AAPB Omega Ratio Rank: 63
AAPB Calmar Ratio Rank: 75
AAPB Martin Ratio Rank: 53

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.

DUOG vs. AAPB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long DUOL Daily ETF (DUOG) and GraniteShares 2x Long AAPL Daily ETF (AAPB). 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

	DUOG	AAPB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.40	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.83	0.38	-1.21

Drawdowns

DUOG vs. AAPB - Drawdown Comparison

The maximum DUOG drawdown since its inception was -83.06%, which is greater than AAPB's maximum drawdown of -58.13%. Use the drawdown chart below to compare losses from any high point for DUOG and AAPB.

Drawdown Indicators

	DUOG	AAPB	Difference
Max Drawdown Largest peak-to-trough decline	-83.06%	-58.13%	-24.93%
Max Drawdown (1Y) Largest decline over 1 year	—	-28.11%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-58.13%	—
Current Drawdown Current decline from peak	-77.48%	-3.30%	-74.18%
Average Drawdown Average peak-to-trough decline	-63.60%	-19.36%	-44.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.64%	—

Volatility

Volatility by Period

	DUOG	AAPB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.20%	—
Volatility (6M) Calculated over the trailing 6-month period	—	31.96%	—
Volatility (1Y) Calculated over the trailing 1-year period	115.53%	44.82%	+70.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	115.53%	51.33%	+64.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	115.53%	51.33%	+64.20%

DUOG vs. AAPB - Expense Ratio Comparison

DUOG has a 0.75% expense ratio, which is lower than AAPB's 1.15% expense ratio.

Dividends

DUOG vs. AAPB - Dividend Comparison

DUOG has not paid dividends to shareholders, while AAPB's dividend yield for the trailing twelve months is around 3.55%.

Position	TTM	2025	2024	2023
AAPB GraniteShares 2x Long AAPL Daily ETF	3.55%	4.39%	0.00%	18.75%
DUOG Leverage Shares 2X Long DUOL Daily ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DUOG and AAPB in my portfolio?

DUOG and AAPB have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DUOG or AAPB?

On fees, DUOG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DUOG or AAPB?

DUOG is cheaper with a 0.75% expense ratio, compared with 1.15% for AAPB.

Which ETF pays a higher dividend yield, DUOG or AAPB?

AAPB has the higher dividend yield at 3.55%, compared with 0.00% for DUOG.

What is the main difference between DUOG and AAPB?

They also come from different issuers: Leverage Shares and GraniteShares. Their fees differ too: 0.75% for DUOG and 1.15% for AAPB.