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AAPD vs NVDD

Direxion Daily AAPL Bear 1X ETF

AAPDANasdaq

Direxion Daily NVDA Bear 1X ETF

NVDDANasdaq

Overlap

Expense ratio

AAPD −0.05pt a year

AAPD0.96%NVDD1.01%

Avg volume · 30D

AAPD 47.6×the volume

AAPD9.21MNVDD194K

3Y return · a year

AAPD +25.6pt

AAPD−20.0%NVDD−45.6%

AAPD vs NVDD Performance

Nov 7, 2025 – Nov 9, 2026

−23.7%AAPD−2.0%NVDD

Nov 7, 2025 to Nov 9, 2026. AAPD −23.7%. NVDD −2.0%. Use the arrow keys to read each point.−10%10%Nov 2025May 2026Nov 2026
Expense ratio
AAPD 0.96%, better
NVDD 1.01%
Fund size
AAPD $46M
NVDD $21M
1Y total return
AAPD −23.7%
NVDD −2.0%, better
Yield (12M)
AAPD 4.60%, better
NVDD 3.75%
Holdings
AAPD 4
NVDD 4
Avg volume (30D)
AAPD 9.21M sh, better
NVDD 194K sh
NAV per share
AAPD $10.02
NVDD $34.81
52W range

ETF.net Grade

AAPD: Cost 97, Risk 72, Mission 85, Tradability 73, Holdings not scored, Durability 81. NVDD: Cost 78, Risk 58, Mission 90, Tradability 38, Holdings not scored, Durability 74.
Pillar letters and Scores for AAPD, NVDD, with each pillar’s weight
PillarAAPDNVDD
Cost30% weightA97HigherA78
Mission25% weightA85A90Higher
Risk15% weightA72HigherB58
Tradability15% weightA73HigherD38
Holdings10% weightNot scoredNot scored
Durability5% weightA81HigherA74

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 NVDD 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 NVDD 10th 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 9AGGLSDirexion Daily GOOGL Bear 1X ETFScore 75
  4. Rank 10ANVDDDirexion Daily NVDA Bear 1X ETFScore 71
  5. Rank 10AORCSDirexion Daily ORCL Bear 1X ETFScore 71

Our read on each fund

ETF.net Research

AAPDADirexion Daily AAPL Bear 1X ETF

NVDDADirexion Daily NVDA 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.

NVDD A straight one-for-one short on NVIDIA that resets every trading day: no 2x amplifier, no margin account, no hunting for borrowable shares. It also undercuts the other inverse-NVDA ETF on fees.

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.

NVDD The fund seeks daily investment results, before fees and expenses, equal to 100% of the inverse performance of NVIDIA Corporation 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.
  • NVDD 1.01% a year, cheaper than the typical inverse single-stock fund and a full step below NVDS, the other ETF aimed at inverse NVDA.
  • The mandate is -1x, not -2x. Daily compounding still shapes results, but single-strength inverse drifts less than the double-short bears beside it, like MSTZ and TSDD.
  • Hits its stated daily target about as tightly as anything in the inverse single-stock group, with a live track record since its 2023 launch.
  • It trades like any other ETF ticker rather than a short sale, so there is no margin-call machinery and no exposure beyond what you put in.

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.
  • NVDD The -1x applies to one day at a time. Hold through a choppy stretch and the result can diverge meaningfully from the inverse of NVDA's move over that stretch.
  • One stock, one story. Earnings night, a supply headline, a rival's chip: NVIDIA news drives the entire position, with nothing else to cushion it.
  • A small fund with moderate trading activity, so spreads and execution costs can stack on top of the 1.01% fee.

Full AAPD profile⁠

Full NVDD profile⁠

AAPD vs NVDD 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 NVDD Cost

Overpaying NVDD vs AAPD

$816

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

  • AAPD 0.96%

    $18,034

  • NVDD 1.01%

    $18,850

$10,000
30 years

Cost over time

  • AAPD 0.96%
  • NVDD 1.01%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530NVDD $18,850AAPD $18,034

Year by year

YearAAPDNVDDOverpaying
10$1,695$1,780$85
20$6,383$6,686$303
30$18,034$18,850$816

Expense ratio

  • 0.96%AAPD, cheaper
  • 1.01%NVDD
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

AAPD 3rd cheapest of 43 funds

NVDD 10th cheapest of 43 funds

AAPD vs NVDD Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
AAPD 4.60%, better
NVDD 3.75%
Payout (12M)
AAPD $0.45
NVDD $1.36
Last payment
AAPD $0.18
NVDD $0.49
Ex-dividend
AAPD Sep 22, 2026
NVDD Sep 22, 2026
Paid on
AAPD Sep 29, 2026
NVDD Sep 29, 2026
Frequency
AAPD Quarterly
NVDD 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$0.5020232026YTD
NVDDQuarterly · 13 paymentsAll NVDD payments⁠
One bar per payment. 13 payments from 2022 to 2026 YTD. Dec 8, 2023 $0.03; Dec 21, 2023 $0.26; Mar 19, 2024 $0.12; Jun 25, 2024 $0.05; Sep 24, 2024 $0.07; Dec 23, 2024 $0.08; Mar 25, 2025 $0.05; Jun 24, 2025 $0.04; Sep 23, 2025 $0.04; Dec 23, 2025 $0.34; Mar 24, 2026 $0.26; Jun 23, 2026 $0.28; Sep 22, 2026 $0.49. Use the arrow keys to read each point.$0$0.5020232026YTD

AAPD vs NVDD 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%, betterNVDD 32.7%
Return per unit of riskSharpe ratio, 3 years
AAPD −1.32, betterNVDD −2.03
Worst fallMax drawdown, 5 years
AAPD −64.2%since Aug 2022NVDD −89.6%since Sep 2023
Market sensitivityBeta, 5 years
AAPD −0.84NVDD −1.72

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