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AAPD vs AMZD

Direxion Daily AAPL Bear 1X ETF

AAPDANasdaq

Direxion Daily AMZN Bear 1X ETF

AMZDANasdaq

Overlap

Expense ratio

AAPD −0.06pt a year

AAPD0.96%AMZD1.02%

Avg volume · 30D

AMZD 1.4×the volume

AAPD8.8MAMZD12.2M

3Y return · a year

AMZD +0.8pt

AAPD−21.3%AMZD−20.5%

AAPD vs AMZD Performance

Oct 31, 2025 – Oct 30, 2026

−21.5%AAPD−3.4%AMZD

Oct 31, 2025 to Oct 30, 2026. AAPD −21.5%. AMZD −3.4%. Use the arrow keys to read each point.−10%10%20%Oct 2025Apr 2026Oct 2026
Expense ratio
AAPD 0.96%, better
AMZD 1.02%
Fund size
AAPD $24M
AMZD $19M
1Y total return
AAPD −21.5%
AMZD −3.4%, better
Yield (12M)
AAPD 4.51%, better
AMZD 2.65%
Holdings
AAPD 4
AMZD 3
Avg volume (30D)
AAPD 8.8M sh
AMZD 12.2M sh, better
NAV per share
AAPD $9.86
AMZD $8.90
52W range

ETF.net Grade

AAPD: Cost 97, Risk 75, Mission 85, Tradability 80, Holdings not scored, Durability 75. AMZD: Cost 78, Risk 72, Mission 96, Tradability 72, Holdings not scored, Durability 74.
Pillar letters and Scores for AAPD, AMZD, with each pillar’s weight
PillarAAPDAMZD
Cost30% weightA97HigherA78
Mission25% weightA85A96Higher
Risk15% weightA75HigherA72
Tradability15% weightA80HigherA72
Holdings10% weightNot scoredNot scored
Durability5% weightA75HigherA74

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 AMZD 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 AMZD 5th 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 3ATSLSDirexion Daily TSLA Bear 1X ETFScore 81
  4. Rank 5AAMZDDirexion Daily AMZN Bear 1X ETFScore 80
  5. Rank 5APLTDDirexion Daily PLTR Bear 1X ETFScore 80

Our read on each fund

ETF.net Research

AAPDADirexion Daily AAPL Bear 1X ETF

AMZDADirexion Daily AMZN 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.

AMZD Most single-stock bear funds reach for leverage. AMZD skips it: one dollar down for every dollar Amazon rises, for a single trading day, through swaps you buy like any share. 1.02% net of a waiver through September 1, 2027.

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.

AMZD The fund seeks daily inverse investment results tied to AMZN and is materially different from ordinary exchange-traded funds.

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.
  • AMZD Minus one, not minus two. The fund targets 100% of the inverse of Amazon's daily move, so a 3% pop in the stock is roughly a 3% hit here, not 6%.sec.gov
  • Bearish exposure comes from swap agreements and options, not borrowed stock, so the position is a regular buy order in a regular brokerage account.sec.gov
  • Fee lands below the category median: 1.02% net of a waiver through September 1, 2027, against a 1.26% gross rate.
  • Trading since September 2022 and among the more active names in its category, and it has stayed tight to its stated daily target, one of the stronger implementations among inverse single-stock funds.

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.
  • AMZD The exposure resets daily. Held across a choppy stretch, compounding can leave the result with little resemblance to minus one times Amazon's move over that stretch.sec.gov
  • That 1.02% rests on a waiver running through September 1, 2027. Without it the fee reverts to the 1.26% gross figure.
  • Assets are modest for the category, and a fund wired to one stock depends on ongoing appetite for that one trade.

Full AAPD profile⁠

Full AMZD profile⁠

AAPD vs AMZD 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 AMZD Cost

Overpaying AMZD vs AAPD

$978

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

  • AAPD 0.96%

    $18,034

  • AMZD 1.02%

    $19,012

$10,000
30 years

Cost over time

  • AAPD 0.96%
  • AMZD 1.02%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530AMZD $19,012AAPD $18,034

Year by year

YearAAPDAMZDOverpaying
10$1,695$1,797$102
20$6,383$6,746$363
30$18,034$19,012$978

Expense ratio

  • 0.96%AAPD, cheaper
  • 1.02%AMZD
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

AAPD 3rd cheapest of 43 funds

AMZD 12th cheapest of 43 funds

AAPD vs AMZD Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
AAPD 4.51%, better
AMZD 2.65%
Payout (12M)
AAPD $0.45
AMZD $0.24
Last payment
AAPD $0.18
AMZD $0.05
Ex-dividend
AAPD Sep 22, 2026
AMZD Sep 22, 2026
Paid on
AAPD Sep 29, 2026
AMZD Sep 29, 2026
Frequency
AAPD Quarterly
AMZD 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$0.5020232026YTD
AMZDQuarterly · 18 paymentsAll AMZD payments⁠
One bar per payment. 18 payments from 2022 to 2026 YTD. Sep 20, 2022 $0.0084; Dec 8, 2022 $0.69; Dec 20, 2022 $0.14; Mar 21, 2023 $0.24; Jun 21, 2023 $0.29; Sep 19, 2023 $0.45; Dec 21, 2023 $0.21; Mar 19, 2024 $0.17; Jun 25, 2024 $0.17; Sep 24, 2024 $0.14; Dec 23, 2024 $0.11; Mar 25, 2025 $0.10; Jun 24, 2025 $0.07; Sep 23, 2025 $0.11; Dec 23, 2025 $0.08; Mar 24, 2026 $0.05; Jun 23, 2026 $0.06; Sep 22, 2026 $0.05. Use the arrow keys to read each point.$0$0.5020232026YTD

AAPD vs AMZD 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%, betterAMZD 27.4%
Return per unit of riskSharpe ratio, 3 years
AAPD −1.32AMZD −0.86, better
Worst fallMax drawdown, 5 years
AAPD −63.9%since Aug 2022AMZD −74.7%since Sep 2022
Market sensitivityBeta, 5 years
AAPD −0.84AMZD −1.26

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