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AAPD vs GGLS

Direxion Daily AAPL Bear 1X ETF

AAPDANasdaq

Direxion Daily GOOGL Bear 1X ETF

GGLSANasdaq

Overlap

Expense ratio

AAPD −0.06pt a year

AAPD0.96%GGLS1.02%

Avg volume · 30D

AAPD 9.5×the volume

AAPD8.8MGGLS929K

3Y return · a year

AAPD +5.1pt

AAPD−21.3%GGLS−26.4%

AAPD vs GGLS Performance

Oct 31, 2025 – Oct 30, 2026

−21.5%AAPD−5.6%GGLS

Oct 31, 2025 to Oct 30, 2026. AAPD −21.5%. GGLS −5.6%. Use the arrow keys to read each point.−30%0%10%Oct 2025Apr 2026Oct 2026
Expense ratio
AAPD 0.96%, better
GGLS 1.02%
Fund size
AAPD $24M
GGLS $21M
1Y total return
AAPD −21.5%
GGLS −5.6%, better
Yield (12M)
AAPD 4.51%, better
GGLS 2.67%
Holdings
AAPD 4
GGLS 3
Avg volume (30D)
AAPD 8.8M sh, better
GGLS 929K sh
NAV per share
AAPD $9.86
GGLS $69.40
52W range

ETF.net Grade

AAPD: Cost 97, Risk 75, Mission 85, Tradability 80, Holdings not scored, Durability 75. GGLS: Cost 78, Risk 66, Mission 90, Tradability 65, Holdings not scored, Durability 74.
Pillar letters and Scores for AAPD, GGLS, with each pillar’s weight
PillarAAPDGGLS
Cost30% weightA97HigherA78
Mission25% weightA85A90Higher
Risk15% weightA75HigherB66
Tradability15% weightA80HigherB65
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 GGLS 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 GGLS 8th 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 7AAVSDirexion Daily AVGO Bear 1X SharesScore 79
  4. Rank 8AGGLSDirexion Daily GOOGL Bear 1X ETFScore 77
  5. Rank 8AMSFDDirexion Daily MSFT Bear 1X ETFScore 77

Our read on each fund

ETF.net Research

AAPDADirexion Daily AAPL Bear 1X ETF

GGLSADirexion Daily GOOGL 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.

GGLS GGLS is the un-levered way to lean against Alphabet: -1x the stock's daily move, no margin account, no borrowed shares. Live since 2022, at 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.

GGLS The fund seeks daily investment results equal to 100% of the inverse of the performance of Alphabet Inc. Class A 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.
  • GGLS Straight inverse, not leveraged. It targets 100% of the opposite of Alphabet Class A's daily move, so taking the short side needs no margin account and no stock borrow.direxion.comdirexion.com 2
  • Day to day, it has stayed close to its stated -1x target, one of the tighter implementations among the dozens of single-stock bear funds on the market.
  • 1.02% net of a waiver through September 1, 2027 (1.20% gross), below the median fee in the single-stock inverse crowd, and it trades actively enough for short holding periods.

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.
  • GGLS The reset is daily. Over longer stretches your result comes from compounding each day's inverse move, which can drift from the simple inverse of Alphabet's move for that period.direxion.com
  • Some sibling bear 1X funds cost less: Direxion's TSLS at 0.95% and AAPD at 0.96%, and Leverage Shares' SKHZ at 0.75%.
  • It's a small fund whose entire outcome rides on one company's stock, delivered through derivatives rather than shares.direxion.com

Full AAPD profile⁠

Full GGLS profile⁠

AAPD vs GGLS 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 GGLS Cost

Overpaying GGLS vs AAPD

$978

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

  • AAPD 0.96%

    $18,034

  • GGLS 1.02%

    $19,012

$10,000
30 years

Cost over time

  • AAPD 0.96%
  • GGLS 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$20K051015202530GGLS $19,012AAPD $18,034

Year by year

YearAAPDGGLSOverpaying
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%GGLS
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

AAPD 3rd cheapest of 43 funds

GGLS 12th cheapest of 43 funds

AAPD vs GGLS Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
AAPD 4.51%, better
GGLS 2.67%
Payout (12M)
AAPD $0.45
GGLS $1.88
Last payment
AAPD $0.18
GGLS $0.38
Ex-dividend
AAPD Sep 22, 2026
GGLS Sep 22, 2026
Paid on
AAPD Sep 29, 2026
GGLS Sep 29, 2026
Frequency
AAPD Quarterly
GGLS 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$2.5020232026YTD
GGLSQuarterly · 16 paymentsAll GGLS payments⁠
One bar per payment. 16 payments from 2022 to 2026 YTD. Sep 20, 2022 $0.10; Mar 21, 2023 $2.25; Jun 21, 2023 $2.77; Sep 19, 2023 $3.06; Dec 21, 2023 $1.91; Mar 19, 2024 $0.79; Jun 25, 2024 $2.02; Sep 24, 2024 $1.24; Dec 23, 2024 $1.19; Mar 25, 2025 $0.99; Jun 24, 2025 $1.46; Sep 23, 2025 $0.21; Dec 23, 2025 $0.64; Mar 24, 2026 $0.53; Jun 23, 2026 $0.33; Sep 22, 2026 $0.38. Use the arrow keys to read each point.$0$2.5020232026YTD

AAPD vs GGLS 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%, betterGGLS 31.8%
Return per unit of riskSharpe ratio, 3 years
AAPD −1.32GGLS −0.93, better
Worst fallMax drawdown, 5 years
AAPD −63.9%since Aug 2022GGLS −81.3%since Sep 2022
Market sensitivityBeta, 5 years
AAPD −0.84GGLS −1.16

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