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AAPX T-REX 2X LONG APPLE DAILY TARGET ETF

Aims to return twice the daily move of Apple (AAPL)T-REX1.05% fee$9mSince Jan 11, 2024Fund page at the issuer ↗SEC filings ↗Every T-REX fund ETFIQ covers
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Three months to Sep 30, 2026: AAPX returned +22.8% where its own daily promise gave +25.6%, 2.8 points short.

+13.2%
What AAPL did
+25.6%
What 2 times a day gives
+22.8%
What the fund returned
−2.8 pts
The fund itself cost
What it aimed at, and what it did
1 pt short of its stated multipleAAPX returned +9.2% while 2 times AAPL's move would have been +10.2%AAPL +5.1% ×2 implies+10.2%AAPX returned+9.2%1 pt short of its stated multipleAAPX returned +9.2% while 2 times AAPL's move would have been +10.2%AAPL +5.1% ×2 implies+10.2%AAPX returned+9.2%

Over the 1 month to Sep 30, 2026, AAPX returned +9.2%, where 2 times that move implies +10.2%. The difference is −1.0 pts.

3.6 pts short of its stated multipleAAPX returned +22.8% while 2 times AAPL's move would have been +26.4%AAPL +13.2% ×2 implies+26.4%AAPX returned+22.8%3.6 pts short of its stated multipleAAPX returned +22.8% while 2 times AAPL's move would have been +26.4%AAPL +13.2% ×2 implies+26.4%AAPX returned+22.8%

Over the 3 months to Sep 30, 2026, AAPX returned +22.8%, where 2 times that move implies +26.4%. The difference is −3.6 pts.

6.1 pts short of its stated multipleAAPX returned +54.9% while 2 times AAPL's move would have been +61.0%AAPL +30.5% ×2 implies+61.0%AAPX returned+54.9%6.1 pts short of its stated multipleAAPX returned +54.9% while 2 times AAPL's move would have been +61.0%AAPL +30.5% ×2 implies+61.0%AAPX returned+54.9%

Over the 6 months to Sep 30, 2026, AAPX returned +54.9%, where 2 times that move implies +61.0%. The difference is −6.1 pts.

18.9 pts short of its stated multipleAAPX returned +43.6% while 2 times AAPL's move would have been +62.5%AAPL +31.3% ×2 implies+62.5%AAPX returned+43.6%18.9 pts short of its stated multipleAAPX returned +43.6% while 2 times AAPL's move would have been +62.5%AAPL +31.3% ×2 implies+62.5%AAPX returned+43.6%

Over the 1 year to Sep 30, 2026, AAPX returned +43.6%, where 2 times that move implies +62.5%. The difference is −18.9 pts.

68.6 pts short of its stated multipleAAPX returned +94.7% while 2 times AAPL's move would have been +163.2%AAPL +81.6% ×2 implies+163.2%AAPX returned+94.7%68.6 pts short of its stated multipleAAPX returned +94.7% while 2 times AAPL's move would have been +163.2%AAPL +81.6% ×2 implies+163.2%AAPX returned+94.7%

Over the since launch to Sep 30, 2026, AAPX returned +94.7%, where 2 times that move implies +163.2%. The difference is −68.6 pts.

ETFIQ Decay Resistance Score
45.6256th of 470

AAPX finished 2.8 points short of what +2 times AAPL’s daily move would have given, compounded through the same days.

points against its own daily promise, compounded−2.8 pts · 46th pct
All 470 ranked by this score →How it is computed →

Did it keep up with its own daily multiple, compounded day by day?

Points against its own daily promise, compounded
BMNG −21.7 ptsBMNU −21.2 ptsMRNX −17.4 ptsMSTX −15.7 ptsSMCX −13.9 ptsSMCC −13.5 ptsMSTU −13.1 ptsMSTP −11.9 ptsETHT −11.8 ptsGDXU −9.9 ptsSLON −9.4 ptsSMCL −9.4 ptsGMEU −9.0 ptsEVMU −8.9 ptsMSTC −8.9 ptsSOLT −8.5 ptsXOVL −8.5 ptsXXRP −8.5 ptsONDL −8.4 ptsSBTU −8.3 ptsCRCA −8.0 ptsCRWL −7.7 ptsFNGU −7.7 ptsHPEL −7.7 ptsBLSG −7.6 ptsINFH −7.6 ptsCRCG −7.5 ptsUMAL −7.5 ptsSOUX −7.4 ptsPOEL −7.3 ptsSPYU −6.9 ptsRGTX −6.7 ptsETHU −6.6 ptsKORU −6.6 ptsIRE −6.5 ptsNETG −6.5 ptsPLTG −6.4 ptsBITU −6.3 ptsBIB −6.2 ptsETU −6.2 ptsBTCL −6.1 ptsPLTA −6.1 ptsSMTG −6.1 ptsOKTG −6.0 ptsUPLT −6.0 ptsUXRP −5.9 ptsMUU −5.8 ptsNOWL −5.8 ptsXRPT −5.8 ptsCCUP −5.7 ptsCRMG −5.6 ptsDJTU −5.6 ptsFUTG −5.6 ptsCOIG −5.5 ptsANEL −5.4 ptsCOIA −5.4 ptsVELL −5.4 ptsAMPU −5.3 ptsBTCU −5.3 ptsSHNY −5.3 ptsAXTU −5.2 ptsCONL −5.2 ptsOSCX −5.2 ptsCOPZ −5.1 ptsIONX −5.1 ptsMULL −5.1 ptsRIOX −5.1 ptsFIGG −4.9 ptsRDWU −4.9 ptsBITX −4.8 ptsUMCX −4.8 ptsUPAL −4.8 ptsLUNL −4.7 ptsPLTU −4.7 ptsSPCU −4.7 ptsUCOP −4.7 ptsAEHG −4.6 ptsMSFL −4.6 ptsNVDX −4.6 ptsPDDL −4.6 ptsPTIR −4.6 ptsPYPG −4.6 ptsTEMT −4.6 ptsADIU −4.5 ptsMSFX −4.5 ptsTSMU −4.5 ptsAXTL −4.4 ptsHIMZ −4.4 ptsLITU −4.4 ptsMIC −4.4 ptsAXTX −4.3 ptsFCXG −4.3 ptsKEYG −4.3 ptsPLTL −4.3 ptsPYPU −4.3 ptsSNDU −4.3 ptsADBG −4.2 ptsAMDL −4.2 ptsGEMG −4.2 ptsCRWG −4.1 ptsDRAL −4.1 ptsDUOG −4.1 ptsHOOX −4.1 ptsMVLL −4.1 ptsONDG −4.1 ptsSNDC −4.1 ptsSOFX −4.1 ptsTELG −4.1 ptsXAGI −4.1 ptsCLSX −4.0 ptsCONX −4.0 ptsKEYX −4.0 ptsMSFU −4.0 ptsROBN −4.0 ptsSOXL −4.0 ptsSPCF −4.0 ptsXTAI −4.0 ptsHOOG −3.9 ptsSNAG −3.9 ptsSNOU −3.9 ptsSPCH −3.9 ptsSTXU −3.9 ptsTWSC −3.9 ptsAPHG −3.8 ptsAVXX −3.8 ptsLNOK −3.8 ptsMSFC −3.8 ptsARCX −3.7 ptsLITX −3.7 ptsLOFF −3.7 ptsQSU −3.7 ptsYINN −3.7 ptsMCHG −3.6 ptsQUBX −3.6 ptsRAM −3.6 ptsRMBX −3.6 ptsAPHU −3.5 ptsASTG −3.5 ptsFBX −3.5 ptsINTW −3.5 ptsONDU −3.5 ptsPONX −3.5 ptsRCAX −3.5 ptsSTXL −3.5 ptsTSMG −3.5 ptsVALG −3.5 ptsVSTL −3.5 ptsASMG −3.4 ptsCOIX −3.4 ptsFGRU −3.4 ptsLRNX −3.4 ptsOKLL −3.4 ptsSPAX −3.4 ptsURAA −3.4 ptsAFRU −3.3 ptsCCPX −3.3 ptsENTL −3.3 ptsFOMG −3.3 ptsHONG −3.3 ptsIREX −3.3 ptsKRWX −3.3 ptsNBIG −3.3 ptsNEMG −3.3 ptsPANG −3.3 ptsACHX −3.2 ptsADBU −3.2 ptsAMUU −3.2 ptsAVGU −3.2 ptsFDRX −3.2 ptsNVDL −3.2 ptsORCX −3.2 ptsSMU −3.2 ptsTSMX −3.2 ptsUECG −3.2 ptsXLEX −3.2 ptsBRZX −3.1 ptsDLLL −3.1 ptsFBL −3.1 ptsFPSX −3.1 ptsHODU −3.1 ptsKMLI −3.1 ptsKTUP −3.1 ptsNEBX −3.1 ptsNVDG −3.1 ptsORCU −3.1 ptsAMDG −3.0 ptsAVGG −3.0 ptsBABU −3.0 ptsCDNG −3.0 ptsECHX −3.0 ptsKJD −3.0 ptsMETU −3.0 ptsNVOX −3.0 ptsORAC −3.0 ptsPALU −3.0 ptsQCML −3.0 ptsSHPU −3.0 ptsUSLV −3.0 ptsXW −3.0 ptsIOSX −2.9 ptsNBIL −2.9 ptsNFLU −2.9 ptsNVDU −2.9 ptsNXPG −2.9 ptsPATX −2.9 ptsPLUL −2.9 ptsRKLX −2.9 ptsTSEG −2.9 ptsXEUR −2.9 ptsASMU −2.8 ptsASTY −2.8 ptsAVGC −2.8 ptsCOTG −2.8 ptsCWVX −2.8 ptsEDC −2.8 ptsKPDD −2.8 ptsLLYX −2.8 ptsLULG −2.8 ptsUNHG −2.8 ptsAAPU −2.7 ptsAMZU −2.7 ptsARMG −2.7 ptsBEC −2.7 ptsBEG −2.7 ptsFNGG −2.7 ptsGLGG −2.7 ptsGOGL −2.7 ptsIONL −2.7 ptsKBAB −2.7 ptsSIMX −2.7 ptsTQQQ −2.7 ptsWEBX −2.7 ptsASMZ −2.6 ptsAVGX −2.6 ptsCEGX −2.6 ptsEURL −2.6 ptsIREG −2.6 ptsMRVU −2.6 ptsMTSG −2.6 ptsNUG −2.6 ptsSPXL −2.6 ptsUPRO −2.6 ptsXYZG −2.6 ptsASUP −2.5 ptsCRMU −2.5 ptsCURE −2.5 ptsGLXU −2.5 ptsHUTG −2.5 ptsMPG −2.5 ptsMSIX −2.5 ptsNVTX −2.5 ptsNXPX −2.5 ptsOSSL −2.5 ptsPLU −2.5 ptsSNXX −2.5 ptsTAJX −2.5 ptsTECL −2.5 ptsXBIX −2.5 ptsXIWC −2.5 ptsXLFX −2.5 ptsXLKX −2.5 ptsAMAA −2.4 ptsEMXX −2.4 ptsFAS −2.4 ptsFNGO −2.4 ptsGLX −2.4 ptsGMEC −2.4 ptsGOOX −2.4 ptsKEEX −2.4 ptsLINT −2.4 ptsMPWX −2.4 ptsQCMU −2.4 ptsRGTU −2.4 ptsRVNL −2.4 ptsSMUP −2.4 ptsSPAL −2.4 ptsTSLT −2.4 ptsUGLD −2.4 ptsXHOA −2.4 ptsAMA −2.3 ptsAMAU −2.3 ptsAMKL −2.3 ptsBABX −2.3 ptsGGLL −2.3 ptsMRAL −2.3 ptsNVC −2.3 ptsQBTX −2.3 ptsTXNU −2.3 ptsTYD −2.3 ptsUDOW −2.3 ptsWEBL −2.3 ptsAAOG −2.2 ptsAVL −2.2 ptsBAIG −2.2 ptsCARX −2.2 ptsCSCL −2.2 ptsDIG −2.2 ptsGOU −2.2 ptsIONC −2.2 ptsLMTL −2.2 ptsMEXX −2.2 ptsNFXL −2.2 ptsSNDG −2.2 ptsUNHU −2.2 ptsUSGG −2.2 ptsUUUG −2.2 ptsUYM −2.2 ptsWX −2.2 ptsXKRE −2.2 ptsBEX −2.1 ptsCATG −2.1 ptsCOZX −2.1 ptsCRMX −2.1 ptsMIDU −2.1 ptsUSX −2.1 ptsVRTL −2.1 ptsXLBX −2.1 ptsXLIX −2.1 ptsALBG −2.0 ptsAMDC −2.0 ptsBOEG −2.0 ptsCBRG −2.0 ptsCIEG −2.0 ptsCOHH −2.0 ptsFNG −2.0 ptsISUL −2.0 ptsSOFA −2.0 ptsSPOG −2.0 ptsTESC −2.0 ptsTTDU −2.0 ptsAAOX −1.9 ptsAAPB −1.9 ptsBOEU −1.9 ptsCAMC −1.9 ptsCIFU −1.9 ptsDUSL −1.9 ptsEUVX −1.9 ptsFLYT −1.9 ptsGEVG −1.9 ptsJNUG −1.9 ptsLABU −1.9 ptsLABX −1.9 ptsMNSX −1.9 ptsSPCM −1.9 ptsTNA −1.9 ptsTSEU −1.9 ptsTSLL −1.9 ptsUBR −1.9 ptsUNX −1.9 ptsURTY −1.9 ptsWYFL −1.9 ptsXLYX −1.9 ptsCIFG −1.8 ptsCRWU −1.8 ptsDPST −1.8 ptsELIL −1.8 ptsERX −1.8 ptsLRCU −1.8 ptsPILL −1.8 ptsRMBC −1.8 ptsRTXG −1.8 ptsTERG −1.8 ptsTMF −1.8 ptsTSLG −1.8 ptsUTSL −1.8 ptsXPEG −1.8 ptsAGQ −1.7 ptsAPLX −1.7 ptsASTX −1.7 ptsCPNX −1.7 ptsCRUC −1.7 ptsCSEX −1.7 ptsEZJ −1.7 ptsGUSH −1.7 ptsHIBL −1.7 ptsMCHU −1.7 ptsNUGT −1.7 ptsTPLX −1.7 ptsTSLR −1.7 ptsUPSX −1.7 ptsWANT −1.7 ptsAALG −1.6 ptsARMA −1.6 ptsCWEB −1.6 ptsDRN −1.6 ptsEET −1.6 ptsGLWG −1.6 ptsJOBX −1.6 ptsLEUX −1.6 ptsONTX −1.6 ptsROM −1.6 ptsSKYU −1.6 ptsSTXX −1.6 ptsUMDD −1.6 ptsUSAX −1.6 ptsWULX −1.6 ptsXLVX −1.6 ptsXOMX −1.6 ptsACLZ −1.5 ptsDFEN −1.5 ptsEFO −1.5 ptsGRAG −1.5 ptsNAIL −1.5 ptsOPEX −1.5 ptsRDTL −1.5 ptsRETL −1.5 ptsUCTX −1.5 ptsUPV −1.5 ptsUYG −1.5 ptsWDCX −1.5 ptsXLPX −1.5 ptsXLUX −1.5 ptsXPP −1.5 ptsAMZZ −1.4 ptsBIDG −1.4 ptsBRZU −1.4 ptsCOHX −1.4 ptsDDM −1.4 ptsKBDU −1.4 ptsLTL −1.4 ptsQLD −1.4 ptsRKX −1.4 ptsSPUU −1.4 ptsSSO −1.4 ptsTPOR −1.4 ptsUGE −1.4 ptsEOSU −1.3 ptsGEVX −1.3 ptsIBX −1.3 ptsNIOG −1.3 ptsPBRG −1.3 ptsRBLU −1.3 ptsTTMX −1.3 ptsUBRL −1.3 ptsUCC −1.3 ptsUCO −1.3 ptsASTT −1.2 ptsCBRX −1.2 ptsGFSG −1.2 ptsMVV −1.2 ptsSAA −1.2 ptsCIEX −1.1 ptsINDL −1.1 ptsKLAG −1.1 ptsONX −1.1 ptsOPEG −1.1 ptsUWM −1.1 ptsCRDU −1.0 ptsACMM −0.9 ptsUGL −0.9 ptsUPW −0.9 ptsUST −0.9 ptsUXI −0.9 ptsCPXR −0.8 ptsURE −0.8 ptsUVIX −0.8 ptsAPPX −0.7 ptsCIFC −0.7 ptsRXL −0.7 ptsTSL −0.7 ptsCHAU −0.5 ptsXNDX −0.5 ptsAPPC −0.4 ptsUBT −0.4 ptsEO −0.2 ptsTEUP −0.2 ptsLASC 0.0 ptsXCOM +3.1 ptsLMNX +13.9 ptsAAPX −2.8 ptsAAPX −2.8 pts−21.7 pts+13.9 pts
−21.7 pts to +13.9 pts across 470

That is the share of the 470 leveraged ETFs, long, over three months sitting at or below AAPX.

A position in this set, not a rating: it moves when the set moves, and it is not a figure to average against another desk's.

WindowFundAAPL+2x the moveDifferenceAAPL moved about
1M Aug 31 – Sep 30, 2026+9.2%+5.1%+10.2%−1.0 pts23%
3M Jul 1 – Sep 30, 2026+22.8%+13.2%+26.4%−3.6 pts28%
6M Apr 1 – Sep 30, 2026+54.9%+30.5%+61.0%−6.1 pts28%
1Y Sep 30, 2025 – Sep 30, 2026+43.6%+31.3%+62.5%−18.9 pts25%
Since launch Jan 11, 2024 – Sep 30, 2026+94.7%+81.6%+163.2%−68.6 pts28%

AAPX over each window to Sep 30, 2026. Every figure is an ETFIQ calculation. Source: ETFIQ.

The same trade from 5 issuers · One week

Every fund that sets out to return +2 times AAPL, over the days all of them have been trading. Ranked by how close each came to its own stated multiple.

FundIssuerReturned+2x the moveDifference
IOSXCorgi−2.3%−2.4%+0.1 pts
AAPBGraniteShares−2.4%−2.4%0.0 pts
AAPXT-REX−2.4%−2.4%0.0 pts
AAPELeverage Shares−2.4%−2.4%0.0 pts
AAPUDirexion−2.6%−2.4%−0.2 pts
The same trade from 5 issuers · One month
FundIssuerReturned+2x the moveDifference
AAPBGraniteShares+9.5%+10.2%−0.7 pts
IOSXCorgi+9.3%+10.2%−0.9 pts
AAPXT-REX+9.2%+10.2%−1.0 pts
AAPELeverage Shares+9.2%+10.2%−1.0 pts
AAPUDirexion+8.9%+10.2%−1.3 pts

AAPL funds at +2x, to Sep 30, 2026. Source: ETFIQ.

Also against IOSX.

In plain words

Read the multiple against the whole window instead and 2 times AAPL's 13.2% implies +26.4%, which makes AAPX look 3.6 points short. 0.8 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. AAPX 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 28% 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.
Sets out to return+2 times the daily move of AAPL, reset daily
Multiple a holder actually got over the window (ETFIQ)+1.72 times, against +2 stated
UnderlyingAAPL
Segmentsingle stock, company
Net assets (issuer page, as of Sep 29, 2026)$9m
Expense ratio (485BPOS XBRL, Apr 30, 2026)1.05%
LaunchedJan 11, 2024
Underlying volatility over the window (ETFIQ)28% annualized
AAPX (T-REX 2X LONG APPLE DAILY TARGET ETF), leveraged ETFs fields as of Sep 30, 2026. Source: ETFIQ.
Returns are ETFIQ calculations from Tiingo end-of-day prices, distributions reinvested, measured against the underlying over exactly the same days. How these figures are computed

Questions people ask about AAPX

Did AAPX return +2 times AAPL?
Over the window to Sep 30, 2026, AAPL moved +13.2% and AAPX returned +22.8%. 2 times that move is +26.4%, so the fund came out 3.6 points short of it.
Why does AAPX not return +2 times over a year?
Because it resets daily. AAPX 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.
Which +2x AAPL ETF tracked its stated multiple most closely?
5 issuers sell one. Over the days all of them have been trading, the table on this page ranks them by how far each finished from 2 times the underlying's move. ETFIQ does not rate funds; the order is the figure itself.
Sources and dates
Prices, AAPX and AAPLTiingo end-of-day prices ↗
Fee, 1.05%SEC 485BPOS XBRL · Apr 30, 2026
Net assets, $9mIssuer page · Sep 29, 2026
IssuerT-REX page for AAPX ↗
All fund filingsFund filings on SEC EDGAR ↗
SourceSEC investment company series and class file, which lists every registered fund ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.

How these figures are computed →Standards and sources →Open data →
Cite this page

ETFIQ, AAPX, leveraged ETFs, data as of Sep 30, 2026. https://etfiq.com/funds/aapx

Open AAPX live on ETFIQ

The label bar for AAPX, redrawn every trading night. Free to use with the credit link.

Free to use with attribution; the underlying files are at Open data.

Stated multiple
What the fund sets out to return against its underlying, each day. A fund at 2x aims to return twice the underlying’s daily move, and an inverse fund at -2x aims to return twice it in the opposite direction.
Daily reset
The fund starts each day aiming at the multiple again, from wherever it now stands. It is the mechanism that makes these funds behave as they do, and the reason the stated multiple applies to a day rather than to a holding period.
Compounding
Daily results multiply together rather than adding up. Two days of the multiple is not twice the multiple, and over a run of days the difference between the two grows with how far the underlying moves about.
Decay
What compounding costs a holder when the underlying falls and rises back to where it started. The underlying is level and the fund is down; the more violently it moved, the further down.
Difference against the stated multiple
The fund’s return minus the stated multiple times the underlying’s return, in percentage points. The one figure that says whether a holder got what the fund’s own multiple describes.
Every term used here, defined in full on the leveraged ETFs vocabulary page. →
4th of 5 leveraged ETFs on AAPL, by where they finished against their stated multiple→4th of 6 leveraged and inverse ETFs by net assets→Leveraged ETFs against their own promise, 2026-Q2→Leveraged ETFs against their own promise, August 2026→T-REX: every fund ETFIQ covers→