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AAPD vs TSDD

Direxion Daily AAPL Bear 1X ETF

AAPDANasdaq

GraniteShares 2x Short TSLA Daily ETF

TSDDANasdaq

Overlap

Expense ratio

AAPD −0.02pt a year

AAPD0.96%TSDD0.98%

Avg volume · 30D

TSDD 1.2×the volume

AAPD8.8MTSDD11M

3Y return · a year

AAPD +54.0pt

AAPD−21.3%TSDD−75.3%

AAPD vs TSDD Performance

Oct 31, 2025 – Oct 30, 2026

−21.5%AAPD−24.7%TSDD

Oct 31, 2025 to Oct 30, 2026. AAPD −21.5%. TSDD −24.7%. Use the arrow keys to read each point.0%20%40%Oct 2025Apr 2026Oct 2026
Expense ratio
AAPD 0.96%, better
TSDD 0.98%
Fund size
AAPD $24M
TSDD $31M
1Y total return
AAPD −21.5%, better
TSDD −24.7%
Yield (12M)
AAPD 4.51%
TSDD 10.55%, better
Holdings
AAPD 4
TSDD 1
Avg volume (30D)
AAPD 8.8M sh
TSDD 11M sh, better
NAV per share
AAPD $9.86
TSDD $6.07
52W range

ETF.net Grade

AAPD: Cost 97, Risk 75, Mission 85, Tradability 80, Holdings not scored, Durability 75. TSDD: Cost 94, Risk 49, Mission 98, Tradability 81, Holdings not scored, Durability 72.
Pillar letters and Scores for AAPD, TSDD, with each pillar’s weight
PillarAAPDTSDD
Cost30% weightA97HigherA94
Mission25% weightA85A98Higher
Risk15% weightA75HigherC49
Tradability15% weightA80A81Higher
Holdings10% weightNot scoredNot scored
Durability5% weightA75HigherA72

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 TSDD 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 TSDD 2nd 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 3ASKHZLeverage Shares 1X Short SK Hynix Daily ETFScore 81

Our read on each fund

ETF.net Research

AAPDADirexion Daily AAPL Bear 1X ETF

TSDDAGraniteShares 2x Short TSLA 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.

TSDD Tesla bears pick their dosage; this is the double. TSDD aims for -2x TSLA's move each day, reset daily, at 0.95% net of a waiver through December 31, 2026. Designed as a short-term tool, not a buy-and-forget holding.

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.

TSDD The fund seeks daily results before fees and expenses equal to negative 200% of the daily percentage change in Tesla's common stock. It is designed as a short-term inverse leveraged vehicle.

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.
  • TSDD 0.95% net of a waiver through December 31, 2026 (1.13% gross) undercuts fellow 2x short Tesla fund TSLZ at 1.05% and matches 1x bear TSLS at 0.95%, for double the daily exposure.
  • Hews closely to its stated -2x daily target, one of the tighter implementations among single-stock bear funds.
  • Heavily traded for an inverse single-stock fund, so getting in and out is rarely a chore.
  • A 1940 Act ETF that uses swaps and options on TSLA to sit near 200% short at each close: no margin account or stock borrow on your end.graniteshares.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.
  • TSDD The -2x target resets every day. Hold longer and compounding pulls results away from -2x TSLA's cumulative move, in either direction.graniteshares.com
  • One stock, geared twice: a sharp TSLA rally bites just as hard in reverse. Risk is the highest-octane part of this package.
  • A small fund, and the fee waiver runs through December 31, 2026; after that costs can step up toward the 1.13% gross level.

Full AAPD profile⁠

Full TSDD profile⁠

AAPD vs TSDD 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 TSDD Cost

Overpaying TSDD vs AAPD

$328

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

  • AAPD 0.96%

    $18,034

  • TSDD 0.98%

    $18,362

$10,000
30 years

Cost over time

  • AAPD 0.96%
  • TSDD 0.98%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530TSDD $18,362AAPD $18,034

Year by year

YearAAPDTSDDOverpaying
10$1,695$1,729$34
20$6,383$6,504$121
30$18,034$18,362$328

Expense ratio

  • 0.96%AAPD, cheaper
  • 0.98%TSDD
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

AAPD 3rd cheapest of 43 funds

TSDD 5th cheapest of 43 funds

AAPD vs TSDD Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
AAPD 4.51%
TSDD 10.55%, better
Payout (12M)
AAPD $0.45
TSDD $0.65
Last payment
AAPD $0.18
TSDD $0.65
Ex-dividend
AAPD Sep 22, 2026
TSDD Dec 29, 2025
Paid on
AAPD Sep 29, 2026
TSDD Dec 31, 2025
Frequency
AAPD Quarterly
TSDD Irregular

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$5020232026YTD
TSDDIrregular · 2 paymentsAll TSDD payments⁠
One bar per payment. 2 payments from 2022 to 2026 YTD. Dec 27, 2023 $77.34; Dec 29, 2025 $0.65. Use the arrow keys to read each point.$0$5020232026YTD

AAPD vs TSDD 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%, betterTSDD 100.6%
Return per unit of riskSharpe ratio, 3 years
AAPD −1.32TSDD −0.87, better
Worst fallMax drawdown, 5 years
AAPD −63.9%since Aug 2022TSDD −99.1%since Aug 2023
Market sensitivityBeta, 5 years
AAPD −0.84TSDD −2.40

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