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APPX

GradeCNASDAQ

Tradr 2X Long APP Daily ETF

Leveraged · Single-Stock Leveraged · Tradr · Inception 2025-04-24

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.

$12.68−1.24 (−8.91%)

As of Sep 23, 2026, 2:20 PM EDT

History starts Apr 25, 2025.
Intraday session: down, 59 prints from 13.92 to 12.68. Range 12.05 to 12.70. Use the arrow keys to read each point.$12.00$12.20$12.40$12.6010 AM12 PM2 PM4 PM
Expense ratio
1.30%
Fund size
$68M
1Y return
−87.4%
Yield · Last 12 months
Data unavailable
Volume · 30D
0.9M sh
NAV per share
$13.95
52W range
low $11.72high $157.62

The ETF.net APPX Grade

C

44/ 100

Rank 110 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for APPX. Scores out of 100: Cost 34, Risk 25, Mission 95, Tradability 73, Holdings not scored, Durability 71. Strongest: Mission (95). Weakest: Risk (25). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 44 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 34
    Category rank236/380 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 95
    Category rank49/147 · top 33%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 25
    Category rank247/285 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 73
    Category rank70/380 · top 18%

  • 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.
    AScore 71
    Category rank59/380 · top 16%

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

Our read on APPX

ETF.net Research

CTwo times AppLovin's daily move, no margin account and no options ticket required. Tradr's APPX rebuilds that leverage every single day, which makes it a short-leash trading tool rather than a buy-and-forget holding.

Stated mandate

Seeks daily, before-fee-and-expense results equal to 200% of the daily performance of AppLovin Corp. common shares.

Why people hold it

  1. 01Does the job on the tin: hews closely to its stated target of 200% of AppLovin's daily share performance.tradretfs.com
  2. 02Sits in the upper half of a crowded field of 200-plus leveraged single-stock bull funds.
  3. 03Actively traded for a fund this young, so entries and exits generally don't mean wrestling the spread.
  4. 04It's a registered 1940 Act fund, so the leverage lives inside the wrapper: no margin call, no losing more than you put in.tradretfs.com

Worth knowing

  1. 01The fee runs 1.30% a year, above the roughly 1% typical for the 2x single-stock crowd. GGLL and AAPU charge 0.96%, ASMG 0.75%.
  2. 02Leverage resets daily. Hold past a single session and a choppy stretch in APP can leave you with something well off 2x the stock's move.
  3. 03One company, doubled. An AppLovin earnings miss or guidance cut lands twice as hard here, and the fund only launched in 2025, so the record is short.

APPX Holdings

As of Sep 20, 2026, 6:39 AM
Asset class
Other
Holdings
—
Top-10 weight
120%
Largest holding
CASHUSD119.5%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—CASHUSD119.52%71,978,424$72M49

Showing 1–1 of 1 holdings

APPX Performance

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

APPX$1,260
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. APPX $1,260. SPY $11,723. Use the arrow keys to read each point.$168$6,706$13,243Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – 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 APPX. Periods over one year show the average yearly return.
PeriodAPPX
Year to date−86.9%
1 month+12.2%
3 months−58.9%
1 year−87.4%
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 APPX
YearReturn barAPPX
2026 YTD−86.9%
2025+330.9%

History from Apr 25, 2025

APPX in the news

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

APPX 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.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$9.98 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 26, 2025 $9.98. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 26, 2025Dec 30, 2025$9.98

APPX 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.
186.5%
Annualised · 16 months to Aug 2026
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.
0.47
vs 3-month T-bills · 16 months to Aug 2026
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.
−91.3%
16 months · trough Aug 2026
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.
7.18
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.

APPX Cost

Expense ratio1.30%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

231 of the 329 Single-Stock Long Leveraged funds charge less.

APPX costs $130.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.