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AAPD vs CSCS

Direxion Daily AAPL Bear 1X ETF

AAPDANasdaq

Direxion Daily CSCO Bear 1X ETF

CSCSCNasdaq

Overlap

Expense ratio

AAPD −0.04pt a year

AAPD0.96%CSCS1.00%

Avg volume · 30D

AAPD 713.9×the volume

AAPD9.21MCSCS12.9K

AAPD vs CSCS Performance

Nov 7, 2025 – Nov 9, 2026

−23.7%AAPD−34.4%CSCS

Nov 7, 2025 to Nov 9, 2026. AAPD −23.7%. CSCS −34.4%. Use the arrow keys to read each point.−50%−10%0%10%Nov 2025May 2026Nov 2026
Expense ratio
AAPD 0.96%, better
CSCS 1.00%
Fund size
AAPD $46M
CSCS $2M
1Y total return
AAPD −23.7%, better
CSCS −34.4%
Yield (12M)
AAPD 4.60%, better
CSCS 3.28%
Holdings
AAPD 4
CSCS 4
Avg volume (30D)
AAPD 9.21M sh, better
CSCS 12.9K sh
NAV per share
AAPD $10.02
CSCS $15.92
52W range

ETF.net Grade

AAPD: Cost 97, Risk 72, Mission 85, Tradability 73, Holdings not scored, Durability 81. CSCS: Cost 89, Risk 57, Mission 96, Tradability 26, Holdings not scored, Durability 43.
Pillar letters and Scores for AAPD, CSCS, with each pillar’s weight
PillarAAPDCSCS
Cost30% weightA97HigherA89
Mission25% weightA85A96Higher
Risk15% weightA72HigherB57
Tradability15% weightA73HigherD26
Holdings10% weightNot scoredNot scored
Durability5% weightA81HigherC43

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 CSCS 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 CSCS 27th of 43 funds in the Single-Stock Inverse Category.

  1. Rank 1AAAPDDirexion Daily AAPL Bear 1X ETFScore 84
  2. Rank 2ATSDDGraniteShares 2x Short TSLA Daily ETFScore 83
  3. Rank 26CSNDQTradr 2X Short SNDK Daily ETFScore 42
  4. Rank 27CCSCSDirexion Daily CSCO Bear 1X ETFScore 40
  5. Rank 27CNFXSDirexion Daily NFLX Bear 1X ETFScore 40

Our read on each fund

ETF.net Research

AAPDADirexion Daily AAPL Bear 1X ETF

CSCSCDirexion Daily CSCO 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.

CSCS A straight bet against Cisco, the networking giant: CSCS aims for -100% of CSCO's daily move, no leverage stacked on top, in a category crowded with 2x and 3x shorts.

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.

CSCS The fund seeks daily investment results, before fees and expenses, equal to 100% of the inverse performance of Cisco Systems, Inc. common shares.

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.
  • CSCS The daily target is -100% of Cisco's move, not -2x or -3x. The inverse exposure comes without a leverage multiplier amplifying each day's swing.direxion.com
  • Costs 1.00% net of a waiver through September 1, 2027, below the category median fee across the 54 peers with fee data.
  • Short exposure arrives as an ordinary fund share: no margin account, no shares to borrow, no short-sale position to maintain overnight.direxion.com
  • Since its June 2025 launch, day-to-day results have tracked the stated inverse target closely.

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.
  • CSCS One stock, no diversification cushion, and a daily reset: hold past a day and your result depends on Cisco's path, not just where the stock lands.direxion.com
  • Smaller and more thinly traded than the headline names in this category, so spreads can run wider. Limit orders matter here.
  • That 1.00% is a waived rate. Gross is 2.99%, and the waiver runs only through September 1, 2027.

Full AAPD profile⁠

Full CSCS profile⁠

AAPD vs CSCS 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 CSCS Cost

Overpaying CSCS vs AAPD

$654

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

  • AAPD 0.96%

    $18,034

  • CSCS 1.00%

    $18,688

$10,000
30 years

Cost over time

  • AAPD 0.96%
  • CSCS 1.00%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530CSCS $18,688AAPD $18,034

Year by year

YearAAPDCSCSOverpaying
10$1,695$1,763$68
20$6,383$6,625$242
30$18,034$18,688$654

Expense ratio

  • 0.96%AAPD, cheaper
  • 1.00%CSCS
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

AAPD 3rd cheapest of 43 funds

CSCS 8th cheapest of 43 funds

AAPD vs CSCS Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
AAPD 4.60%, better
CSCS 3.28%
Payout (12M)
AAPD $0.45
CSCS $0.50
Last payment
AAPD $0.18
CSCS $0.11
Ex-dividend
AAPD Sep 22, 2026
CSCS Sep 22, 2026
Paid on
AAPD Sep 29, 2026
CSCS Sep 29, 2026
Frequency
AAPD Quarterly
CSCS 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$0.2520232026YTD
CSCSQuarterly · 5 paymentsAll CSCS payments⁠
One bar per payment. 5 payments from 2022 to 2026 YTD. Sep 23, 2025 $0.23; Dec 23, 2025 $0.15; Mar 24, 2026 $0.13; Jun 23, 2026 $0.11; Sep 22, 2026 $0.11. Use the arrow keys to read each point.$0$0.2520232026YTD

AAPD vs CSCS 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%CSCS 27.1%since Jul 2025
Return per unit of riskSharpe ratio, 3 years
AAPD −1.32CSCS −1.34since Jul 2025
Worst fallMax drawdown, 5 years
AAPD −64.2%since Aug 2022CSCS −51.6%since Jun 2025
Market sensitivityBeta, 5 years
AAPD −0.84CSCS −1.45

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