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AAPD vs AMDD

Direxion Daily AAPL Bear 1X ETF

AAPDANasdaq

Direxion Daily AMD Bear 1X ETF

AMDDBNasdaq

Overlap

Expense ratio

AAPD −0.49pt a year

AAPD0.96%AMDD1.45%

Avg volume · 30D

AAPD 7.4×the volume

AAPD8.8MAMDD1.19M

AAPD vs AMDD Performance

Oct 31, 2025 – Nov 2, 2026

−20.1%AAPD−63.9%AMDD

Oct 31, 2025 to Nov 2, 2026. AAPD −20.1%. AMDD −63.9%. Use the arrow keys to read each point.−40%0%20%Oct 2025May 2026Nov 2026
Expense ratio
AAPD 0.96%, better
AMDD 1.45%
Fund size
AAPD $35M
AMDD $17M
1Y total return
AAPD −20.1%, better
AMDD −63.9%
Yield (12M)
AAPD 4.43%
AMDD 11.25%, better
Holdings
AAPD 5
AMDD 4
Avg volume (30D)
AAPD 8.8M sh, better
AMDD 1.19M sh
NAV per share
AAPD $9.98
AMDD $26.43
52W range

ETF.net Grade

AAPD: Cost 97, Risk 75, Mission 85, Tradability 79, Holdings not scored, Durability 79. AMDD: Cost 42, Risk 39, Mission 87, Tradability 48, Holdings not scored, Durability 63.
Pillar letters and Scores for AAPD, AMDD, with each pillar’s weight
PillarAAPDAMDD
Cost30% weightA97HigherC42
Mission25% weightA85A87Higher
Risk15% weightA75HigherD39
Tradability15% weightA79HigherC48
Holdings10% weightNot scoredNot scored
Durability5% weightA79HigherB63

Rank among Single-Stock Inverse funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. AAPD and AMDD are both graded against the same 43 Single-Stock Inverse funds, so their Grades compare head to head.

Single-Stock Inverse⁠

Category · 43 funds
See all 43 ›

AAPD ranks 1st and AMDD 21st of 43 funds in the Single-Stock Inverse Category.

  1. Rank 1AAAPDDirexion Daily AAPL Bear 1X ETFScore 86
  2. Rank 2ATSDDGraniteShares 2x Short TSLA Daily ETFScore 84
  3. Rank 19BSMSTDefiance Daily Target 2x Short MSTR ETFScore 60
  4. Rank 21BAMDDDirexion Daily AMD Bear 1X ETFScore 56
  5. Rank 22BIREZTradr 2X Short IREN Daily ETFScore 55

Our read on each fund

ETF.net Research

AAPDADirexion Daily AAPL Bear 1X ETF

AMDDBDirexion Daily AMD Bear 1X ETF

In short

AAPD The straight-shooting short on Apple. No 2x, no options overlay: AAPD aims to deliver 100% of the inverse of AAPL's daily move, and it charges less than the typical single-stock bear fund to do it.

AMDD A one-day short on AMD, bought like any stock. AMDD aims for 100% of the inverse of AMD's daily move: no margin account, no borrowed shares, and no extra leverage stacked on top.

Stated mandate

AAPD The fund seeks daily investment results, before fees and expenses, equal to 100% of the inverse of the performance of Apple Inc.'s common shares.

AMDD The Fund seeks daily investment results equal to 100% of the inverse of AMD’s daily performance, before fees and expenses.

Why people hold it

  • AAPD One-to-one inverse, not amplified. The fund targets 100% of the opposite of Apple's daily move, so a bearish view doesn't come pre-loaded with 2x leverage on top.direxion.com
  • Cheap for the aisle it sits in: 0.96% a year against a 1.29% median for inverse single-stock funds, and under 2x rivals like TSDD (1.13%) and MSTZ (1.05%).
  • An early mover in single-stock ETFs, live since 2022, and one of the more actively traded names in the inverse single-stock group.
  • Hits its stated daily target closely and ranks among the strongest implementations in its peer group of inverse single-stock funds.
  • AMDD Shorting without the plumbing. One buy order gets inverse AMD exposure, no margin account and no locating shares to borrow.
  • Unleveraged inverse: the daily target is -1x AMD, before fees, so a 5% AMD pop aims for roughly a 5% fund drop, not 10%.
  • Day to day, it has tracked its stated -1x target closely, one of the tighter mandate deliveries among single-stock bear funds.
  • Ordinary 1940 Act fund wrapper, actively traded during market hours, with distributions paid quarterly.

Worth knowing

  • AAPD The objective resets every day. Hold longer and compounding takes over, so results over a week or a month can differ from the inverse of Apple's move over that stretch, especially in choppy markets.
  • One company, one story. There is no diversification here: an Apple earnings night or product cycle drives the entire position.
  • A small fund by assets, and any distributions come on a quarterly schedule rather than as a steady income stream.
  • AMDD The 1.45% expense ratio sits above other single-stock bear funds, including TSLS at 0.95% and AAPD at 0.96%.
  • The target resets every day. Hold past one session and compounding takes over, so multi-day results can drift far from the inverse of AMD's move.
  • Young and small: launched in 2025 with a modest asset base, and one chipmaker's headlines drive the whole position.

Full AAPD profile⁠

Full AMDD profile⁠

AAPD vs AMDD Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

AAPD vs AMDD Cost

Overpaying AMDD vs AAPD

$7,536

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • AAPD 0.96%

    $18,034

  • AMDD 1.45%

    $25,570

$10,000
30 years

Cost over time

  • AAPD 0.96%
  • AMDD 1.45%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K051015202530AMDD $25,570AAPD $18,034

Year by year

YearAAPDAMDDOverpaying
10$1,695$2,509$814
20$6,383$9,241$2,858
30$18,034$25,570$7,536

Expense ratio

  • 0.96%AAPD, cheaper
  • 1.45%AMDD
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

AAPD 3rd cheapest of 43 funds

AMDD 30th cheapest of 43 funds

AAPD vs AMDD Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
AAPD 4.43%
AMDD 11.25%, better
Payout (12M)
AAPD $0.45
AMDD $3.20
Last payment
AAPD $0.18
AMDD $0.24
Ex-dividend
AAPD Sep 22, 2026
AMDD Sep 22, 2026
Paid on
AAPD Sep 29, 2026
AMDD Sep 29, 2026
Frequency
AAPD Quarterly
AMDD Quarterly

Distribution history

Per share, 2022 to 2026, same scale for both

AAPDQuarterly · 18 paymentsAll AAPD payments⁠
One bar per payment. 18 payments from 2022 to 2026 YTD. Sep 20, 2022 $0.03; Dec 8, 2022 $0.0061; Dec 20, 2022 $0.13; Mar 21, 2023 $0.18; Jun 21, 2023 $0.24; Sep 19, 2023 $0.19; Dec 21, 2023 $0.26; Mar 19, 2024 $0.18; Jun 25, 2024 $0.21; Sep 24, 2024 $0.15; Dec 23, 2024 $0.16; Mar 25, 2025 $0.12; Jun 24, 2025 $0.12; Sep 23, 2025 $0.12; Dec 23, 2025 $0.11; Mar 24, 2026 $0.08; Jun 23, 2026 $0.08; Sep 22, 2026 $0.18. Use the arrow keys to read each point.$0$220232026YTD
AMDDQuarterly · 7 paymentsAll AMDD payments⁠
One bar per payment. 7 payments from 2022 to 2026 YTD. Mar 25, 2025 $0.87; Jun 24, 2025 $1.72; Sep 23, 2025 $1.03; Dec 23, 2025 $1.57; Mar 24, 2026 $1.14; Jun 23, 2026 $0.25; Sep 22, 2026 $0.24. Use the arrow keys to read each point.$0$220232026YTD

AAPD vs AMDD Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
AAPD 19.8%AMDD 65.0%since Mar 2025
Return per unit of riskSharpe ratio, 3 years
AAPD −1.32AMDD −1.68since Mar 2025
Worst fallMax drawdown, 5 years
AAPD −63.9%since Aug 2022AMDD −93.4%since Feb 2025
Market sensitivityBeta, 5 years
AAPD −0.84AMDD −2.52

Popular comparisons

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