# AAPD (Direxion Daily AAPL Bear 1X ETF)

Direxion · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: AAPD returned −13.3% where its own daily promise gave −14.6%, 1.3 points over.

## Key facts

- AAPD, what AAPL did: +14.2%, as of Sep 11, 2026.
- AAPD, what −1 times a day gives: −14.6%, as of Sep 11, 2026.
- AAPD, what the fund returned: −13.3%, as of Sep 11, 2026.
- AAPD, the fund itself added: +1.3 pts, as of Sep 11, 2026.
- AAPD, net assets: $19m (source, as filed for Apr 30, 2026).
- AAPD, expense ratio: not read by ETFIQ, as of Sep 11, 2026.

## AAPD over each window to Sep 11, 2026

| Window | Fund | AAPL | -1x the move | Difference | AAPL moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −8.9% | +9.9% | −9.9% | +1.1 pts | 23% |
| 3 months | −13.3% | +14.2% | −14.2% | +0.9 pts | 32% |
| 6 months | −25.4% | +33.1% | −33.1% | +7.7 pts | 28% |
| 1 year | −31.0% | +45.0% | −45.0% | +13.9 pts | 25% |
| 3 years | −47.6% | +91.0% | −91.0% | +43.4 pts | 27% |
| Since launch | −52.4% | +105.4% | not meaningful over this window | not meaningful over this window | 27% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -1 times the daily move of AAPL, reset daily | ETFIQ |
| Multiple a holder actually got over the window | -0.94 times, against -1 stated | ETFIQ |
| Underlying | AAPL | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $19m | source, as filed for Apr 30, 2026 |
| Expense ratio | not read by ETFIQ | ETFIQ |
| Launched | Aug 9, 2022 | ETFIQ |
| Underlying volatility over the window | 32% annualized | ETFIQ |

## Questions

### Did AAPD return -1 times AAPL?

Over the window to Sep 11, 2026, AAPL moved +14.2% and AAPD returned −13.3%. 1 times that move is −14.2%, so the fund came out 0.9 points ahead of it.

### Why does AAPD not return -1 times over a year?

Because it resets daily. AAPD aims at -1 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -1 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, AAPD, data as of Sep 11, 2026. https://etfiq.com/funds/AAPD
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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