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AAPD vs MUD

Direxion Daily AAPL Bear 1X ETF

AAPDANasdaq

Direxion Daily MU Bear 1X ETF

MUDBNasdaq

Overlap

Expense ratio

AAPD −0.06pt a year

AAPD0.96%MUD1.02%

Avg volume · 30D

MUD 1.4×the volume

AAPD8.8MMUD12.4M

AAPD vs MUD Performance

Oct 31, 2025 – Oct 30, 2026

−21.5%AAPD−98.6%MUD

Oct 31, 2025 to Oct 30, 2026. AAPD −21.5%. MUD −98.6%. Use the arrow keys to read each point.−80%−60%−40%0%Oct 2025Apr 2026Oct 2026
Expense ratio
AAPD 0.96%, better
MUD 1.02%
Fund size
AAPD $24M
MUD $32M
1Y total return
AAPD −21.5%, better
MUD −98.6%
Yield (12M)
AAPD 4.51%
MUD No data
Holdings
AAPD 4
MUD 4
Avg volume (30D)
AAPD 8.8M sh
MUD 12.4M sh, better
NAV per share
AAPD $9.86
MUD $10.15
52W range

ETF.net Grade

AAPD: Cost 97, Risk 75, Mission 85, Tradability 80, Holdings not scored, Durability 75. MUD: Cost 78, Risk 16, Mission not scored, Tradability 66, Holdings not scored, Durability 73.
Pillar letters and Scores for AAPD, MUD, with each pillar’s weight
PillarAAPDMUD
Cost30% weightA97HigherA78
Mission25% weightA85Not scored
Risk15% weightA75HigherF16
Tradability15% weightA80HigherB66
Holdings10% weightNot scoredNot scored
Durability5% weightA75HigherA73

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 MUD 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 MUD 20th 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 19BNVDQT-REX 2X Inverse NVIDIA Daily Target ETFScore 64
  4. Rank 20BMUDDirexion Daily MU Bear 1X ETFScore 60
  5. Rank 20BSMSTDefiance Daily Target 2x Short MSTR ETFScore 60

Our read on each fund

ETF.net Research

AAPDADirexion Daily AAPL Bear 1X ETF

MUDBDirexion Daily MU 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.

MUD No data

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.

MUD No data

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.

MUD No data

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.

MUD No data

Full AAPD profile⁠

Full MUD profile⁠

AAPD vs MUD 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 MUD Cost

Overpaying MUD vs AAPD

$978

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

  • AAPD 0.96%

    $18,034

  • MUD 1.02%

    $19,012

$10,000
30 years

Cost over time

  • AAPD 0.96%
  • MUD 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$20K051015202530MUD $19,012AAPD $18,034

Year by year

YearAAPDMUDOverpaying
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%MUD
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

AAPD 3rd cheapest of 43 funds

MUD 12th cheapest of 43 funds

AAPD vs MUD Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
AAPD 4.51%
MUD No data
Payout (12M)
AAPD $0.45
MUD No data
Last payment
AAPD $0.18
MUD $0.15
Ex-dividend
AAPD Sep 22, 2026
MUD Sep 22, 2026
Paid on
AAPD Sep 29, 2026
MUD Sep 29, 2026
Frequency
AAPD Quarterly
MUD 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
MUDQuarterly · 3 paymentsAll MUD payments⁠
One bar per payment. 3 payments from 2022 to 2026 YTD. Mar 24, 2026 $0.27; Jun 23, 2026 $0.05; Sep 22, 2026 $0.15. Use the arrow keys to read each point.$0$0.2520232026YTD

AAPD vs MUD 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%MUD 84.7%since Nov 2024
Return per unit of riskSharpe ratio, 3 years
AAPD −1.32MUD −2.10since Nov 2024
Worst fallMax drawdown, 5 years
AAPD −63.9%since Aug 2022MUD −99.7%since Oct 2024
Market sensitivityBeta, 5 years
AAPD −0.84MUD −3.03

Popular comparisons

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

    Expense ratio
    0.96% · 0.98%
    Category
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  • MUDBvsTSDDA

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    Expense ratio
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    Expense ratio
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    Category
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  • MUDBvsTSLSA

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

    Expense ratio
    1.02% · 0.95%
    Category
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