Data as of .
AAPB vs AAPD: which held to its multiple?
Over three months against its own daily promise, AAPB finished 2.2 points short and AAPD 1.3 points over.
ETFIQ Decay Resistance Score: AAPB scores higher
Did it keep up with its own daily multiple, compounded day by day?
A percentile among the 391 leveraged ETFs, long, over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it · How it is computed
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| AAPB | AAPD | AAPB | AAPD | AAPB | AAPD | |
| 1 month | +20.0% | −8.9% | +19.9% | −9.9% | +0.1 pts | +1.1 pts |
| 3 months | +25.0% | −13.3% | +28.5% | −14.2% | −3.5 pts | +0.9 pts |
| 6 months | +64.4% | −25.4% | +66.2% | −33.1% | −1.7 pts | +7.7 pts |
| 1 year | +83.7% | −31.0% | +90.0% | −45.0% | −6.2 pts | +13.9 pts |
| 3 years | +121.8% | −47.6% | +182.0% | −91.0% | −60.2 pts | +43.4 pts |
| Since launch | +115.3% | −52.4% | not meaningful | not meaningful | not meaningful | not meaningful |
| AAPB GraniteShares 2x Long AAPL Daily ETF Aims to return twice the daily move of Apple (AAPL) | AAPD Direxion Daily AAPL Bear 1X ETF Aims to return 1 times the opposite of the daily move of Apple (AAPL) | |
|---|---|---|
| Issuer | GraniteShares | Direxion |
| Sets out to return | +2x | -1x |
| On | AAPL | AAPL |
| Segment | company | company |
| Fund returned, 3 months | +25.0% | −13.3% |
| Underlying returned, 3 months | +14.2% | +14.2% |
| What the stated multiple implies, 3 months | +28.5% | −14.2% |
| Difference from stated, 3 months | −3.5 pts | +0.9 pts |
| Fund returned, 1 year or since launch | +83.7% | −31.0% |
| Difference from stated, over that window | −6.2 pts | +13.9 pts |
| Underlying volatility | 32% | 32% |
| Difference over the days both have traded | +0.1 pts | no shared window |
| Expense ratio | 1.15% | not published |
| Launched | Aug 9, 2022 | Aug 9, 2022 |
AAPB in plain words
Three months to Sep 11, 2026: AAPB returned +25.0% where its own daily promise gave +27.2%, 2.2 points short. Read the multiple against the whole window instead and +2 times AAPL's 14.2% implies +28.5%, which makes AAPB look 3.5 points short. 1.3 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. AAPB aims to return +2 times AAPL's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. AAPL moved at 32% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
AAPD in plain words
Three months to Sep 11, 2026: AAPD returned −13.3% where its own daily promise gave −14.6%, 1.3 points over. Read the multiple against the whole window instead and −1 times AAPL's 14.2% implies −14.2%, which makes AAPD look 0.9 points over. 0.4 of that is daily compounding, which happens to any −1 times fund over the same path, and the rest is the fund. AAPD aims to return -1 times AAPL's move each day, then resets. Over longer, the daily results compound, so the total is not -1 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more.
Questions people ask
- Which came closer to its stated multiple, AAPB or AAPD?
- Over the window to Sep 11, 2026, AAPB finished 3.5 points from what its multiple implies and AAPD finished 0.9 points from its own, so AAPD came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are AAPB and AAPD levered on the same thing?
- Yes. Both are levered on Apple, AAPB at +2 times and AAPD at -1 times the daily move.
- Which one decays faster, AAPB or AAPD?
- Decay follows how much the underlying moves about. Over this window AAPB’s moved at 32% annualized and AAPD’s at 32%, so AAPB has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold AAPB or AAPD for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, AAPB against AAPD, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/AAPB-AAPD Free to use with attribution; the underlying files are at Open data.