Data as of .
APLX vs APLZ: which held to its multiple?
Over three months against its own daily promise, APLX finished 1.6 points short and APLZ 2.6 points short.
ETFIQ Decay Resistance Score: APLX 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 | |||
|---|---|---|---|---|---|---|
| APLX | APLZ | APLX | APLZ | APLX | APLZ | |
| 1 month | −32.1% | +22.1% | −30.4% | +30.4% | −1.7 pts | −8.3 pts |
| 3 months | −69.8% | +42.4% | −76.3% | +76.3% | +6.4 pts | −33.9 pts |
| 6 months | −45.6% | −77.7% | −4.7% | +4.7% | −41.0 pts | −82.4 pts |
| 1 year | −32.9% | not published | +107.6% | not published | −140.5 pts | not published |
| Since launch | −15.5% | −82.7% | +147.6% | +47.9% | −163.1 pts | −130.6 pts |
| APLX Tradr 2X Long APLD Daily ETF Aims to return twice the daily move of APLD | APLZ Tradr 2X Short APLD Daily ETF Aims to return twice the opposite of the daily move of APLD | |
|---|---|---|
| Issuer | Tradr | Tradr |
| Sets out to return | +2x | -2x |
| On | APLD | APLD |
| Segment | company | company |
| Fund returned, 3 months | −69.8% | +42.4% |
| Underlying returned, 3 months | −38.1% | −38.1% |
| What the stated multiple implies, 3 months | −76.3% | +76.3% |
| Difference from stated, 3 months | +6.4 pts | −33.9 pts |
| Fund returned, 1 year or since launch | −32.9% | −82.7% |
| Difference from stated, over that window | −140.5 pts | −130.6 pts |
| Underlying volatility | 87% | 87% |
| Expense ratio | 1.51% | 1.49% |
| Launched | Sep 9, 2025 | Jan 22, 2026 |
APLX in plain words
Three months to Sep 11, 2026: APLX returned −69.8% where its own daily promise gave −68.3%, 1.6 points short. Read the multiple against the whole window instead and +2 times APLD's −38.1% implies −76.3%, which makes APLX look 6.4 points over. 8.0 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. APLX aims to return +2 times APLD'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. APLD moved at 87% 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.
APLZ in plain words
Three months to Sep 11, 2026: APLZ returned +42.4% where its own daily promise gave +45.0%, 2.6 points short. Read the multiple against the whole window instead and −2 times APLD's −38.1% implies +76.3%, which makes APLZ look 33.9 points short. 31.3 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. APLZ aims to return -2 times APLD's move each day, then resets. 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.
Questions people ask
- Which came closer to its stated multiple, APLX or APLZ?
- Over the window to Sep 11, 2026, APLX finished 6.4 points from what its multiple implies and APLZ finished 33.9 points from its own, so APLX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are APLX and APLZ levered on the same thing?
- Yes. Both are levered on APLD, APLX at +2 times and APLZ at -2 times the daily move.
- Which one decays faster, APLX or APLZ?
- Decay follows how much the underlying moves about. Over this window APLX’s moved at 87% annualized and APLZ’s at 87%, so APLX has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold APLX or APLZ 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.
- Which is cheaper, APLX or APLZ?
- APLX charges 1.51% a year and APLZ charges 1.49%, so APLZ is cheaper. Fees come from each fund's prospectus.
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, APLX against APLZ, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/APLX-APLZ Free to use with attribution; the underlying files are at Open data.