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APLZ

GradeCChicago Board Options Exchange

Tradr 2X Short APLD Daily ETF

Leveraged · Single-Stock Leveraged · Tradr · Inception 2026-01-21 · SEC filings

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$18.50+0.80 (+4.52%)

As of Sep 23, 2026, 3:04 PM EDT

History starts Jan 22, 2026.History starts Jan 22, 2026.
Intraday session: up, 38 prints from 17.70 to 18.50. Range 17.50 to 18.65. Use the arrow keys to read each point.$17.50$18.0010 AM12 PM2 PM4 PM
Expense ratio
1.49%
Fund size
$4M
1Y return
—
Yield · Last 12 months
—
Volume · 30D
0.2M sh
NAV per share
$17.75
52W range
low $11.27high $156.75

The ETF.net APLZ Grade

C

40/ 100

Rank 28 of 58 in Single-Stock Inverse⁠

Confidence High

Six-pillar profile for APLZ. Scores out of 100: Cost 31, Risk 33, Mission 97, Tradability 27, Holdings not scored, Durability 31. Strongest: Mission (97). Weakest: Tradability (27). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 40 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E. A structural cap ceilings this fund at 40, so B and A are out of reach.

Ceiling 40 · B and A out of reach

The pillars earned49This cap took−9Published score40 Grade C

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 31
    Category rank34/58 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 97
    Category rank10/31 · top 32%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 33
    Category rank38/48 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 27
    Category rank47/58 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 31
    Category rank46/58 · bottom quartile

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on APLZ

ETF.net Research

CA one-day trade in a fund wrapper: APLZ aims to deliver two times the inverse of Applied Digital's daily move, so bears can lean against the AI data-center story without a margin account or a stock loan.

Stated mandate

The fund seeks daily results equal to two times the inverse performance of Applied Digital Corporation common shares, before fees and expenses. It is designed for a one-trading-day objective rather than a longer holding period.

Why people hold it

  1. 01Pure single-name tool. Instead of a sector basket, it targets one stock, Applied Digital (APLD), at twice the inverse of its daily move.tradretfs.com
  2. 02Short exposure in an ordinary brokerage account: no margin agreement, no locating shares to borrow, no open-ended short losses beyond what you put in.tradretfs.com
  3. 03Tight to its mandate. Day to day, the fund has hewed closely to its stated two-times-inverse objective, one of the stronger tracking records among inverse single-stock funds.

Worth knowing

  1. 01The math resets every day. Hold longer than a session and compounding takes over, so results over a week or a month can drift well away from minus two times the move.
  2. 02At 1.49% a year, it sits above the typical inverse single-stock fund; peers like TSLS and AAPD run cheaper, though they target different stocks at 1x.
  3. 03Young and small: launched in 2026 with a modest asset base, so it has a short track record and thinner trading than the established names in the category.

APLZ Holdings

As of Sep 20, 2026, 6:39 AM
Asset class
Other
Holdings
—
Top-10 weight
100%
Largest holding
CASHUSD81.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—CASHUSD80.98%2,874,267$3M49
002—NET OTHER ASSETS14.83%526,252$526K134
003—CFD APPLIED DIGITAL CORP4.19%6,994,549$149K2

Showing 1–3 of 3 holdings

APLZ Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

APLZ$13,278
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. APLZ $13,278. SPY $10,415. Use the arrow keys to read each point.$8,180$19,878$31,576Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for APLZ. Periods over one year show the average yearly return.
PeriodAPLZ
Year to dateFund launched this year—
1 month−22.5%
3 months+32.8%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for APLZ
YearReturn barAPLZ
2026 YTD−86.1%

History from Jan 22, 2026

APLZ in the news

ETF.net Research hasn’t filed on APLZ yet — coverage lands here as it’s written.

APLZ Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Jan 2026. No distributions yet.

APLZ Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Jan 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Jan 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Jan 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
−5.84
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

APLZ Cost

Expense ratio1.49%
  • The middle half of Single-Stock Inverse funds
  • Median 1.35%

27 of the 43 Single-Stock Inverse funds charge less.

APLZ costs $149.00 a year on $10,000. The median Single-Stock Inverse fund costs $135.00.