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AAPD vs NBIZ

Direxion Daily AAPL Bear 1X ETF

AAPDANasdaq

Tradr 2X Short NBIS Daily ETF

NBIZDCboe

Overlap

Expense ratio

AAPD −0.53pt a year

AAPD0.96%NBIZ1.49%

Avg volume · 30D

AAPD 4.1×the volume

AAPD8.8MNBIZ2.13M

AAPD vs NBIZ Performance

Jul 31, 2026 – Oct 30, 2026

−9.9%AAPD−50.2%NBIZ

Jul 31, 2026 to Oct 30, 2026. AAPD −9.9%. NBIZ −50.2%. Use the arrow keys to read each point.−80%−60%−40%−20%0%Jul 2026Sep 2026Oct 2026
Expense ratio
AAPD 0.96%, better
NBIZ 1.49%
Fund size
AAPD $24M
NBIZ $30M
1Y total return
AAPD −21.5%
NBIZ No data
Yield (12M)
AAPD 4.51%
NBIZ No data
Holdings
AAPD 4
NBIZ 3
Avg volume (30D)
AAPD 8.8M sh, better
NBIZ 2.13M sh
NAV per share
AAPD $9.86
NBIZ $37.95
52W range

ETF.net Grade

AAPD: Cost 97, Risk 75, Mission 85, Tradability 80, Holdings not scored, Durability 75. NBIZ: Cost 25, Risk 21, Mission not scored, Tradability 50, Holdings not scored, Durability 52.
Pillar letters and Scores for AAPD, NBIZ, with each pillar’s weight
PillarAAPDNBIZ
Cost30% weightA97HigherD25
Mission25% weightA85Not scored
Risk15% weightA75HigherF21
Tradability15% weightA80HigherC50
Holdings10% weightNot scoredNot scored
Durability5% weightA75HigherC52

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 NBIZ 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 NBIZ 39th 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 38DCORDT-Rex 2x Inverse CRWV Daily Target ETFScore 36
  4. Rank 39DNBIZTradr 2X Short NBIS Daily ETFScore 32
  5. Rank 39DRAMZT-Rex 2X Inverse DRAM Daily Target ETFScore 32

Our read on each fund

ETF.net Research

AAPDADirexion Daily AAPL Bear 1X ETF

NBIZDTradr 2X Short NBIS Daily 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.

NBIZ A one-ticker short on Nebius. NBIZ aims to deliver two times the inverse of NBIS's move over a single trading day, then resets. A trader's instrument in an ETF wrapper, not a position you set and forget.

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.

NBIZ The Fund seeks daily investment results equal to two times the inverse of NBIS’s performance, before fees and expenses. The objective applies only to a single trading day.

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.
  • NBIZ Puts you on the short side of Nebius Group without a margin account or borrowing shares, and the most you can lose is what you put in.
  • A registered 1940 Act fund, so it trades intraday like a stock in an ordinary brokerage account with standard ETF disclosure.
  • Built for short holding periods, and it changes hands regularly through the session, which is what counts when the trade is measured in hours.

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.
  • NBIZ The 2x inverse target applies to one trading day. Hold longer and compounding takes over, so multi-day results can land far from twice the inverse of NBIS's move.
  • The 1.49% expense ratio runs above several 2x inverse single-stock peers, including MSTZ (1.05%) and TSDD (1.13%).
  • Everything rides on one AI-infrastructure stock, and the fund launched in 2026, so there is little history behind it.

Full AAPD profile⁠

Full NBIZ profile⁠

AAPD vs NBIZ 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 NBIZ Cost

Overpaying NBIZ vs AAPD

$8,107

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

  • AAPD 0.96%

    $18,034

  • NBIZ 1.49%

    $26,141

$10,000
30 years

Cost over time

  • AAPD 0.96%
  • NBIZ 1.49%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K051015202530NBIZ $26,141AAPD $18,034

Year by year

YearAAPDNBIZOverpaying
10$1,695$2,574$879
20$6,383$9,464$3,081
30$18,034$26,141$8,107

Expense ratio

  • 0.96%AAPD, cheaper
  • 1.49%NBIZ
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

AAPD 3rd cheapest of 43 funds

NBIZ 31st cheapest of 43 funds

AAPD vs NBIZ Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
AAPD 4.51%
NBIZ No data
Payout (12M)
AAPD $0.45
NBIZ None
Last payment
AAPD $0.18
NBIZ No data
Ex-dividend
AAPD Sep 22, 2026
NBIZ No data
Paid on
AAPD Sep 29, 2026
NBIZ No data
Frequency
AAPD Quarterly
NBIZ No data

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
NBIZAll NBIZ payments⁠

No distribution history available.

AAPD vs NBIZ 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%NBIZ No data
Return per unit of riskSharpe ratio, 3 years
AAPD −1.32NBIZ No data
Worst fallMax drawdown, 5 years
AAPD −63.9%since Aug 2022NBIZ No data
Market sensitivityBeta, 5 years
AAPD −0.84NBIZ −1.73

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