NIOG vs. APLX

Last updated Jun 4, 2026

NIOG (Leverage Shares 2X Long NIO Daily ETF) and APLX (Tradr 2X Long APLD Daily ETF) are both Leveraged Equities funds. NIOG is passively managed, while APLX is actively managed. At a 0.25 correlation, their price movements are largely independent. NIOG charges 0.75%/yr vs 1.30%/yr for APLX.

Performance

NIOG vs. APLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long NIO Daily ETF (NIOG) and Tradr 2X Long APLD Daily ETF (APLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NIOG achieves a 5.09% return, which is significantly lower than APLX's 85.45% return.

NIOG

• 1D: -8.37%
• 1M: -14.00%
• YTD: 5.09%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

APLX

• 1D: -12.57%
• 1M: 39.18%
• YTD: 85.45%
• 6M: 13.38%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NIOG vs. APLX - Yearly Performance Comparison

	2026 (YTD)	2025
NIOG Leverage Shares 2X Long NIO Daily ETF	5.09%	5.33%
APLX Tradr 2X Long APLD Daily ETF	85.45%	0.89%

Correlation

The correlation between NIOG and APLX is 0.25, 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 Dec 19, 2025	0.25

Return for Risk

NIOG vs. APLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long NIO Daily ETF (NIOG) and Tradr 2X Long APLD Daily ETF (APLX). 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

	NIOG	APLX	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	1.79	-1.57

Drawdowns

NIOG vs. APLX - Drawdown Comparison

The maximum NIOG drawdown since its inception was -45.19%, smaller than the maximum APLX drawdown of -84.39%. Use the drawdown chart below to compare losses from any high point for NIOG and APLX.

Drawdown Indicators

	NIOG	APLX	Difference
Max Drawdown Largest peak-to-trough decline	-45.19%	-84.39%	+39.20%
Current Drawdown Current decline from peak	-34.15%	-41.16%	+7.01%
Average Drawdown Average peak-to-trough decline	-19.65%	-45.49%	+25.84%

Volatility

Volatility by Period

	NIOG	APLX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	120.05%	218.24%	-98.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	120.05%	218.24%	-98.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	120.05%	218.24%	-98.19%

NIOG vs. APLX - Expense Ratio Comparison

NIOG has a 0.75% expense ratio, which is lower than APLX's 1.30% expense ratio.

Dividends

NIOG vs. APLX - Dividend Comparison

Neither NIOG nor APLX has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both NIOG and APLX in my portfolio?

NIOG and APLX have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NIOG or APLX?

On fees, NIOG 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, NIOG or APLX?

NIOG is cheaper with a 0.75% expense ratio, compared with 1.30% for APLX.

Which ETF pays a higher dividend yield, NIOG or APLX?

NIOG and APLX have nearly identical dividend yields, around 0.00%.

What is the main difference between NIOG and APLX?

They also come from different issuers: Leverage Shares and Tradr. Their fees differ too: 0.75% for NIOG and 1.30% for APLX.