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AAPD vs NFXS

Direxion Daily AAPL Bear 1X ETF

AAPDANasdaq

Direxion Daily NFLX Bear 1X ETF

NFXSCNasdaq

Overlap

Expense ratio

AAPD −0.07pt a year

AAPD0.96%NFXS1.03%

Avg volume · 30D

AAPD 390.7×the volume

AAPD8.8MNFXS22.5K

AAPD vs NFXS Performance

Oct 31, 2025 – Oct 30, 2026

−21.5%AAPD+69.4%NFXS

Oct 31, 2025 to Oct 30, 2026. AAPD −21.5%. NFXS +69.4%. Use the arrow keys to read each point.0%20%40%Oct 2025Apr 2026Oct 2026
Expense ratio
AAPD 0.96%, better
NFXS 1.03%
Fund size
AAPD $24M
NFXS $3M
1Y total return
AAPD −21.5%
NFXS +69.4%, better
Yield (12M)
AAPD 4.51%, better
NFXS 2.16%
Holdings
AAPD 4
NFXS 4
Avg volume (30D)
AAPD 8.8M sh, better
NFXS 22.5K sh
NAV per share
AAPD $9.86
NFXS $24.19
52W range

ETF.net Grade

AAPD: Cost 97, Risk 75, Mission 85, Tradability 80, Holdings not scored, Durability 75. NFXS: Cost 69, Risk 96, Mission 97, Tradability 25, Holdings not scored, Durability 51.
Pillar letters and Scores for AAPD, NFXS, with each pillar’s weight
PillarAAPDNFXS
Cost30% weightA97HigherB69
Mission25% weightA85A97Higher
Risk15% weightA75A96Higher
Tradability15% weightA80HigherD25
Holdings10% weightNot scoredNot scored
Durability5% weightA75HigherC51

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 NFXS 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 NFXS 28th 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 28CCSCSDirexion Daily CSCO Bear 1X ETFScore 40
  4. Rank 28CNFXSDirexion Daily NFLX Bear 1X ETFScore 40
  5. Rank 28CPALDDirexion Daily PANW Bear 1X ETFScore 40

Our read on each fund

ETF.net Research

AAPDADirexion Daily AAPL Bear 1X ETF

NFXSCDirexion Daily NFLX 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.

NFXS Shorting Netflix without a margin account or a borrow: NFXS aims to deliver 100% of the inverse of NFLX's one-day move. Direxion runs the bull side of this pair at 2x and the bear side at 1x, so it's a straight short, not an amplified one.

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.

NFXS The fund seeks daily investment results equal to 100% of the inverse of Netflix common shares' performance, 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.
  • NFXS One-to-one inverse exposure, built with swaps rather than borrowed stock, so a bearish Netflix view fits in a regular brokerage account with no short-sale mechanics to manage.sec.gov
  • Costs 1.03% a year, net of a waiver through September 1, 2027 (1.13% gross), which sits below the median fee in a category of 54 single-stock bear funds.
  • Has tracked its stated one-day inverse target closely since launching in 2024, which is the whole job for a daily-reset fund.
  • The unlevered half of Direxion's NFLX pair: NFXL targets 200% of the stock's daily move, NFXS targets -100%, so you pick the short without the leverage.direxion.com

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.
  • NFXS The target resets every day. Hold longer than a day and compounding can push results away from -100% of the stock's move over that stretch, especially in choppy markets.sec.gov
  • A small fund that trades lightly next to the biggest single-stock bear ETFs, so spreads can widen. Limit orders matter more here.
  • Direxion's AAPL bear 1X, AAPD, charges 0.96% with no waiver attached, a reminder that bear 1X pricing varies across the lineup.

Full AAPD profile⁠

Full NFXS profile⁠

AAPD vs NFXS 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 NFXS Cost

Overpaying NFXS vs AAPD

$1,139

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

  • AAPD 0.96%

    $18,034

  • NFXS 1.03%

    $19,173

$10,000
30 years

Cost over time

  • AAPD 0.96%
  • NFXS 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$20K051015202530NFXS $19,173AAPD $18,034

Year by year

YearAAPDNFXSOverpaying
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%NFXS
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

AAPD 3rd cheapest of 43 funds

NFXS 18th cheapest of 43 funds

AAPD vs NFXS Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
AAPD 4.51%, better
NFXS 2.16%
Payout (12M)
AAPD $0.45
NFXS $0.52
Last payment
AAPD $0.18
NFXS $0.13
Ex-dividend
AAPD Sep 22, 2026
NFXS Sep 22, 2026
Paid on
AAPD Sep 29, 2026
NFXS Sep 29, 2026
Frequency
AAPD Quarterly
NFXS 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
NFXSQuarterly · 8 paymentsAll NFXS payments⁠
One bar per payment. 8 payments from 2022 to 2026 YTD. Dec 23, 2024 $0.17; Mar 25, 2025 $0.15; Jun 24, 2025 $0.08; Sep 23, 2025 $0.21; Dec 23, 2025 $0.16; Mar 24, 2026 $0.08; Jun 23, 2026 $0.15; Sep 22, 2026 $0.13. Use the arrow keys to read each point.$0$0.2520232026YTD

AAPD vs NFXS 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%NFXS 37.5%since Nov 2024
Return per unit of riskSharpe ratio, 3 years
AAPD −1.32NFXS 0.21since Nov 2024
Worst fallMax drawdown, 5 years
AAPD −63.9%since Aug 2022NFXS −50.4%since Oct 2024
Market sensitivityBeta, 5 years
AAPD −0.84NFXS −0.29

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