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AAPD vs NVDS

Direxion Daily AAPL Bear 1X ETF

AAPDANasdaq

Tradr 1.5X Short NVDA Daily ETF

NVDSBNasdaq

Overlap

Expense ratio

AAPD −0.19pt a year

AAPD0.96%NVDS1.15%

Avg volume · 30D

AAPD 32.2×the volume

AAPD8.8MNVDS274K

3Y return · a year

AAPD +42.5pt

AAPD−19.7%NVDS−62.2%

AAPD vs NVDS Performance

Oct 31, 2025 – Nov 2, 2026

−20.1%AAPD−16.8%NVDS

Oct 31, 2025 to Nov 2, 2026. AAPD −20.1%. NVDS −16.8%. Use the arrow keys to read each point.−10%0%10%20%Oct 2025May 2026Nov 2026
Expense ratio
AAPD 0.96%, better
NVDS 1.15%
Fund size
AAPD $35M
NVDS $14M
1Y total return
AAPD −20.1%
NVDS −16.8%, better
Yield (12M)
AAPD 4.43%
NVDS 18.89%, better
Holdings
AAPD 5
NVDS 2
Avg volume (30D)
AAPD 8.8M sh, better
NVDS 274K sh
NAV per share
AAPD $9.98
NVDS $21.04
52W range

ETF.net Grade

AAPD: Cost 97, Risk 75, Mission 85, Tradability 79, Holdings not scored, Durability 79. NVDS: Cost 61, Risk 52, Mission 99, Tradability 53, Holdings not scored, Durability 55.
Pillar letters and Scores for AAPD, NVDS, with each pillar’s weight
PillarAAPDNVDS
Cost30% weightA97HigherB61
Mission25% weightA85A99Higher
Risk15% weightA75HigherC52
Tradability15% weightA79HigherC53
Holdings10% weightNot scoredNot scored
Durability5% weightA79HigherB55

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 NVDS 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 NVDS 14th 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 14BMSTZT-REX 2X Inverse MSTR Daily Target ETFScore 68
  4. Rank 14BNVDSTradr 1.5X Short NVDA Daily ETFScore 68
  5. Rank 14BTSLZT-REX 2X Inverse Tesla Daily Target ETFScore 68

Our read on each fund

ETF.net Research

AAPDADirexion Daily AAPL Bear 1X ETF

NVDSBTradr 1.5X Short NVDA 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.

NVDS The original inverse NVIDIA ETF, trading since 2022, and the one that dials short exposure to 1.5x instead of 1x. Built for a single session at a time, at 1.15% net of a waiver through July 31, 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.

NVDS The fund seeks daily investment results equal to one and a half times the inverse performance of NVIDIA common shares. It is designed to pursue this objective for 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.
  • NVDS The first-mover: listed July 2022, over a year before Direxion's bear NVDA fund (NVDD) arrived in September 2023. Longest live history in inverse-NVDA land.direxion.com
  • 1.5x short, not 1x. Each dollar carries one and a half dollars of inverse NVDA exposure, versus the 1x of NVDD, so less capital is tied up for the same short notional.direxion.com
  • 1.15% net of a waiver through July 31, 2027, below the median fee in the leveraged-bear single-stock group.
  • Day-to-day delivery of the stated -1.5x objective has been tight, and the fund sits in the upper half of its bear single-stock peer group.

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.
  • NVDS The objective resets every day. Hold past one session and NVDA's path, not just its direction, drives the outcome; compounding can pull results away from -1.5x.
  • Leverage cuts both ways: an up day in NVDA lands one and a half times as hard. One stock, one chip cycle, no diversification to soften it.
  • A small fund that trades moderately rather than heavily, so spreads deserve a look. Gross fee is 1.56% if the waiver lapses after July 31, 2027.

Full AAPD profile⁠

Full NVDS profile⁠

AAPD vs NVDS 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 NVDS Cost

Overpaying NVDS vs AAPD

$3,043

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

  • AAPD 0.96%

    $18,034

  • NVDS 1.15%

    $21,077

$10,000
30 years

Cost over time

  • AAPD 0.96%
  • NVDS 1.15%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530NVDS $21,077AAPD $18,034

Year by year

YearAAPDNVDSOverpaying
10$1,695$2,015$320
20$6,383$7,521$1,138
30$18,034$21,077$3,043

Expense ratio

  • 0.96%AAPD, cheaper
  • 1.15%NVDS
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

AAPD 3rd cheapest of 43 funds

NVDS 23rd cheapest of 43 funds

AAPD vs NVDS Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
AAPD 4.43%
NVDS 18.89%, better
Payout (12M)
AAPD $0.45
NVDS $3.97
Last payment
AAPD $0.18
NVDS $3.97
Ex-dividend
AAPD Sep 22, 2026
NVDS Dec 23, 2025
Paid on
AAPD Sep 29, 2026
NVDS Dec 26, 2025
Frequency
AAPD Quarterly
NVDS Annual

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$10020232026YTD
NVDSAnnual · 4 paymentsAll NVDS payments⁠
One bar per payment. 4 payments from 2022 to 2026 YTD. Dec 27, 2022 $169.43; Dec 26, 2023 $64.08; Dec 23, 2024 $10.76; Dec 23, 2025 $3.97. Use the arrow keys to read each point.$0$10020232026YTD

AAPD vs NVDS 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%, betterNVDS 44.2%
Return per unit of riskSharpe ratio, 3 years
AAPD −1.32, betterNVDS −2.05
Worst fallMax drawdown, 5 years
AAPD −63.9%since Aug 2022NVDS −99.5%since Jul 2022
Market sensitivityBeta, 5 years
AAPD −0.84NVDS −2.23

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