Skip to content
etf.net

AAPD vs AVS

Direxion Daily AAPL Bear 1X ETF

AAPDANasdaq

Direxion Daily AVGO Bear 1X Shares

AVSANasdaq

Overlap

Expense ratio

AAPD −0.07pt a year

AAPD0.96%AVS1.03%

Avg volume · 30D

AVS 1.3×the volume

AAPD8.8MAVS11.7M

AAPD vs AVS Performance

Oct 31, 2025 – Oct 30, 2026

−21.5%AAPD−2.9%AVS

Oct 31, 2025 to Oct 30, 2026. AAPD −21.5%. AVS −2.9%. Use the arrow keys to read each point.−30%−10%10%20%Oct 2025Apr 2026Oct 2026
Expense ratio
AAPD 0.96%, better
AVS 1.03%
Fund size
AAPD $24M
AVS $20M
1Y total return
AAPD −21.5%
AVS −2.9%, better
Yield (12M)
AAPD 4.51%, better
AVS 3.07%
Holdings
AAPD 4
AVS 4
Avg volume (30D)
AAPD 8.8M sh
AVS 11.7M sh, better
NAV per share
AAPD $9.86
AVS $8.32
52W range

ETF.net Grade

AAPD: Cost 97, Risk 75, Mission 85, Tradability 80, Holdings not scored, Durability 75. AVS: Cost 69, Risk 72, Mission 100, Tradability 75, Holdings not scored, Durability 68.
Pillar letters and Scores for AAPD, AVS, with each pillar’s weight
PillarAAPDAVS
Cost30% weightA97HigherB69
Mission25% weightA85A100Higher
Risk15% weightA75HigherA72
Tradability15% weightA80HigherA75
Holdings10% weightNot scoredNot scored
Durability5% weightA75HigherB68

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 AVS 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 AVS 7th 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 5APLTDDirexion Daily PLTR Bear 1X ETFScore 80
  4. Rank 7AAVSDirexion Daily AVGO Bear 1X SharesScore 79
  5. Rank 8AGGLSDirexion Daily GOOGL Bear 1X ETFScore 77

Our read on each fund

ETF.net Research

AAPDADirexion Daily AAPL Bear 1X ETF

AVSADirexion Daily AVGO Bear 1X Shares

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.

AVS A one-ticker short on Broadcom. AVS aims for -100% of AVGO's daily move, no margin account or borrowed shares involved, at 1.03% 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.

AVS The fund seeks daily investment results equal to 100% of the inverse performance of Broadcom Inc.'s common shares, 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.
  • AVS Straight inverse, not amplified: the fund targets -100% of Broadcom's daily move, the mirror image of one day's trade with no leverage multiplier stacked on top.direxion.com
  • Betting against AVGO the old way means a margin account and borrowed shares. This is one ticker in a standard brokerage account, with exposure limited to what you put in.direxion.com
  • 1.03% net of a waiver through September 1, 2027 (1.21% gross), which lands below the median fee for leveraged and inverse single-stock funds.
  • One of the most heavily traded names in its category, and it hits its stated daily target with very little slippage, among the tighter implementations in the peer group.

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.
  • AVS The target resets every day. Hold longer and compounding takes over, so results over a week or a month can differ from -100% of AVGO's move over that same stretch.direxion.com
  • Everything rides on one semiconductor stock. No basket, no diversification, so an AVGO rally hits the fund directly.
  • Cheaper 1x inverse options exist, including TSLS at 0.95% and SKHZ at 0.75%, and AVS prices toward 1.21% gross if the waiver lapses after September 1, 2027.

Full AAPD profile⁠

Full AVS profile⁠

AAPD vs AVS 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 AVS Cost

Overpaying AVS vs AAPD

$1,139

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

  • AAPD 0.96%

    $18,034

  • AVS 1.03%

    $19,173

$10,000
30 years

Cost over time

  • AAPD 0.96%
  • AVS 1.03%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530AVS $19,173AAPD $18,034

Year by year

YearAAPDAVSOverpaying
10$1,695$1,814$119
20$6,383$6,807$424
30$18,034$19,173$1,139

Expense ratio

  • 0.96%AAPD, cheaper
  • 1.03%AVS
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

AAPD 3rd cheapest of 43 funds

AVS 18th cheapest of 43 funds

AAPD vs AVS Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
AAPD 4.51%, better
AVS 3.07%
Payout (12M)
AAPD $0.45
AVS $0.27
Last payment
AAPD $0.18
AVS $0.04
Ex-dividend
AAPD Sep 22, 2026
AVS Sep 22, 2026
Paid on
AAPD Sep 29, 2026
AVS Sep 29, 2026
Frequency
AAPD Quarterly
AVS 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
AVSQuarterly · 9 paymentsAll AVS payments⁠
One bar per payment. 9 payments from 2022 to 2026 YTD. Dec 12, 2024 $0.44; Dec 23, 2024 $0.07; Mar 25, 2025 $0.17; Jun 24, 2025 $0.05; Sep 23, 2025 $0.05; Dec 23, 2025 $0.13; Mar 24, 2026 $0.06; Jun 23, 2026 $0.04; Sep 22, 2026 $0.04. Use the arrow keys to read each point.$0$0.5020232026YTD

AAPD vs AVS 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%AVS 45.2%since Nov 2024
Return per unit of riskSharpe ratio, 3 years
AAPD −1.32AVS −1.00since Nov 2024
Worst fallMax drawdown, 5 years
AAPD −63.9%since Aug 2022AVS −75.7%since Oct 2024
Market sensitivityBeta, 5 years
AAPD −0.84AVS −1.48

AAPD and AVS in the news

All news⁠

Popular comparisons

  • AAPDAvsTSDDA

    Direxion Daily AAPL Bear 1X ETF · GraniteShares 2x Short TSLA Daily ETF

    Expense ratio
    0.96% · 0.98%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • AVSAvsTSDDA

    Direxion Daily AVGO Bear 1X Shares · GraniteShares 2x Short TSLA Daily ETF

    Expense ratio
    1.03% · 0.98%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • AAPDAvsSKHZA

    Direxion Daily AAPL Bear 1X ETF · Leverage Shares 1X Short SK Hynix Daily ETF

    Expense ratio
    0.96% · 0.75%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • AVSAvsSKHZA

    Direxion Daily AVGO Bear 1X Shares · Leverage Shares 1X Short SK Hynix Daily ETF

    Expense ratio
    1.03% · 0.75%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • AAPDAvsTSLSA

    Direxion Daily AAPL Bear 1X ETF · Direxion Daily TSLA Bear 1X ETF

    Expense ratio
    0.96% · 0.95%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • AVSAvsTSLSA

    Direxion Daily AVGO Bear 1X Shares · Direxion Daily TSLA Bear 1X ETF

    Expense ratio
    1.03% · 0.95%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.