# APLZ (Tradr 2X Short APLD Daily ETF)

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

Three months to Sep 11, 2026: APLZ returned +42.4% where its own daily promise gave +45.0%, 2.6 points short.

## Key facts

- APLZ, what APLD did: −38.1%, as of Sep 11, 2026.
- APLZ, what −2 times a day gives: +45.0%, as of Sep 11, 2026.
- APLZ, what the fund returned: +42.4%, as of Sep 11, 2026.
- APLZ, the fund itself cost: −2.6 pts, as of Sep 11, 2026.
- APLZ, net assets: $5m (source, as filed for Jun 30, 2026).
- APLZ, expense ratio: 1.49% (485BPOS XBRL, Jan 20, 2026).

## APLZ over each window to Sep 11, 2026

| Window | Fund | APLD | -2x the move | Difference | APLD moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +22.1% | −15.2% | +30.4% | −8.3 pts | 70% |
| 3 months | +42.4% | −38.1% | +76.3% | −33.9 pts | 87% |
| 6 months | −77.7% | −2.3% | +4.7% | −82.4 pts | 98% |
| Since launch | −82.7% | −23.9% | +47.9% | −130.6 pts | 104% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -2 times the daily move of APLD, reset daily | ETFIQ |
| Multiple a holder actually got over the window | -1.11 times, against -2 stated | ETFIQ |
| Underlying | APLD | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $5m | source, as filed for Jun 30, 2026 |
| Expense ratio | 1.49% | 485BPOS XBRL, Jan 20, 2026 |
| Launched | Jan 22, 2026 | ETFIQ |
| Underlying volatility over the window | 87% annualized | ETFIQ |

## Questions

### Did APLZ return -2 times APLD?

Over the window to Sep 11, 2026, APLD moved −38.1% and APLZ returned +42.4%. 2 times that move is +76.3%, so the fund came out 33.9 points short of it.

### Why does APLZ not return -2 times over a year?

Because it resets daily. APLZ aims at -2 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 -2 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, APLZ, data as of Sep 11, 2026. https://etfiq.com/funds/APLZ
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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