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AAPD vs TSLQ

Direxion Daily AAPL Bear 1X ETF

AAPDANasdaq

Tradr 2X Short TSLA Daily ETF

TSLQANasdaq

Overlap

Expense ratio

AAPD −0.19pt a year

AAPD0.96%TSLQ1.15%

Avg volume · 30D

AAPD 1.5×the volume

AAPD8.8MTSLQ6.03M

3Y return · a year

AAPD +50.2pt

AAPD−21.3%TSLQ−71.5%

AAPD vs TSLQ Performance

Oct 31, 2025 – Oct 30, 2026

−21.5%AAPD−22.7%TSLQ

Oct 31, 2025 to Oct 30, 2026. AAPD −21.5%. TSLQ −22.7%. Use the arrow keys to read each point.0%20%40%Oct 2025Apr 2026Oct 2026
Expense ratio
AAPD 0.96%, better
TSLQ 1.15%
Fund size
AAPD $24M
TSLQ $103M
1Y total return
AAPD −21.5%, better
TSLQ −22.7%
Yield (12M)
AAPD 4.51%
TSLQ 12.98%, better
Holdings
AAPD 4
TSLQ 3
Avg volume (30D)
AAPD 8.8M sh, better
TSLQ 6.03M sh
NAV per share
AAPD $9.86
TSLQ $14.78
52W range

ETF.net Grade

AAPD: Cost 97, Risk 75, Mission 85, Tradability 80, Holdings not scored, Durability 75. TSLQ: Cost 61, Risk 54, Mission 97, Tradability 90, Holdings not scored, Durability 73.
Pillar letters and Scores for AAPD, TSLQ, with each pillar’s weight
PillarAAPDTSLQ
Cost30% weightA97HigherB61
Mission25% weightA85A97Higher
Risk15% weightA75HigherC54
Tradability15% weightA80A90Higher
Holdings10% weightNot scoredNot scored
Durability5% weightA75HigherA73

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 TSLQ 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 TSLQ 10th 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 8AMSFDDirexion Daily MSFT Bear 1X ETFScore 77
  4. Rank 10ATSLQTradr 2X Short TSLA Daily ETFScore 75
  5. Rank 11ANVDDDirexion Daily NVDA Bear 1X ETFScore 73

Our read on each fund

ETF.net Research

AAPDADirexion Daily AAPL Bear 1X ETF

TSLQATradr 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.

TSLQ A 2022-vintage Tesla bear. TSLQ holds swaps built to move twice the inverse of Tesla's daily change, then resets the clock each session. Fee: 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.

TSLQ The fund seeks daily investment results equal to two times the inverse performance of Tesla's common stock, 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.
  • TSLQ One job, stated plainly: swap exposure sized to deliver two times the inverse of Tesla's move for a single day, before fees, then reset.tradretfs.com
  • 1.15% net of a waiver through July 31, 2027 (1.21% gross), below the median fee among single-stock bear funds.
  • Listed in July 2022, early for this corner of the market, and among the more actively traded names in its group.
  • Has hewed closely to its stated daily objective, one of the stronger implementations among single-stock bear funds.

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.
  • TSLQ Daily reset: over multiple days results depend on Tesla's path, not just its direction, and can drift well away from twice the inverse.tradretfs.com
  • Cheaper shorts exist: TSDD runs 0.95% net of a waiver through December 31, 2026, and the 1x bear TSLS charges 0.95%.
  • Everything rides on one stock: when Tesla climbs, the 2x inverse exposure magnifies the hit.

Full AAPD profile⁠

Full TSLQ profile⁠

AAPD vs TSLQ 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 TSLQ Cost

Overpaying TSLQ vs AAPD

$3,043

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

  • AAPD 0.96%

    $18,034

  • TSLQ 1.15%

    $21,077

$10,000
30 years

Cost over time

  • AAPD 0.96%
  • TSLQ 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$25K051015202530TSLQ $21,077AAPD $18,034

Year by year

YearAAPDTSLQOverpaying
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%TSLQ
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

AAPD 3rd cheapest of 43 funds

TSLQ 23rd cheapest of 43 funds

AAPD vs TSLQ Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
AAPD 4.51%
TSLQ 12.98%, better
Payout (12M)
AAPD $0.45
TSLQ $1.92
Last payment
AAPD $0.18
TSLQ $1.92
Ex-dividend
AAPD Sep 22, 2026
TSLQ Dec 22, 2025
Paid on
AAPD Sep 29, 2026
TSLQ Dec 26, 2025
Frequency
AAPD Quarterly
TSLQ 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$220232026YTD
TSLQAnnual · 1 paymentAll TSLQ payments⁠
One bar per payment. 1 payment from 2022 to 2026 YTD. Dec 22, 2025 $1.92. Use the arrow keys to read each point.$0$220232026YTD

AAPD vs TSLQ 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%, betterTSLQ 92.7%
Return per unit of riskSharpe ratio, 3 years
AAPD −1.32TSLQ −0.88, better
Worst fallMax drawdown, 5 years
AAPD −63.9%since Aug 2022TSLQ −99.0%since Jul 2022
Market sensitivityBeta, 5 years
AAPD −0.84TSLQ −1.96

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