{
 "ticker": "APLX",
 "name": "Tradr 2X Long APLD Daily ETF",
 "issuer": "Tradr",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/aplx",
 "html": "https://etfiq.com/funds/aplx",
 "markdown": "https://etfiq.com/funds/aplx.md",
 "as_of": "2026-09-30",
 "verdict": "Three months to Sep 30, 2026: APLX returned \u221263.0% where its own daily promise gave \u221261.3%, 1.7 points short.",
 "key_facts": [
  {
   "key": "what_apld_did",
   "label": "What APLD did",
   "value": "\u221231.4%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "APLX, what APLD did: \u221231.4%, as of Sep 30, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What 2 times a day gives",
   "value": "\u221261.3%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "APLX, what 2 times a day gives: \u221261.3%, as of Sep 30, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221263.0%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "APLX, what the fund returned: \u221263.0%, as of Sep 30, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22121.7 pts",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "APLX, the fund itself cost: \u22121.7 pts, as of Sep 30, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$59m",
   "source": "the issuer\u2019s own daily fund list, as of Sep 30, 2026",
   "as_of": "2026-09-30",
   "sentence": "APLX, net assets: $59m (the issuer\u2019s own daily fund list, as of Sep 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.51%",
   "source": "485BPOS XBRL, Jul 23, 2026",
   "as_of": "2026-09-30",
   "sentence": "APLX, expense ratio: 1.51% (485BPOS XBRL, Jul 23, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of APLD, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+2.01 times, against +2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "APLD",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$59m",
   "source": "the issuer\u2019s own daily fund list, as of Sep 30, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.51%",
   "source": "485BPOS XBRL, Jul 23, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Sep 9, 2025",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "89% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u221213.5%",
   "APLD": "\u22124.1%",
   "+2x the move": "\u22128.2%",
   "Difference": "\u22125.3 pts",
   "APLD moved about": "74%"
  },
  {
   "window": "3 months",
   "Fund": "\u221263.0%",
   "APLD": "\u221231.4%",
   "+2x the move": "\u221262.8%",
   "Difference": "\u22120.3 pts",
   "APLD moved about": "89%"
  },
  {
   "window": "6 months",
   "Fund": "\u221240.9%",
   "APLD": "\u22120.5%",
   "+2x the move": "\u22121.0%",
   "Difference": "\u221239.9 pts",
   "APLD moved about": "94%"
  },
  {
   "window": "1 year",
   "Fund": "\u221266.8%",
   "APLD": "+6.2%",
   "+2x the move": "+12.5%",
   "Difference": "\u221279.2 pts",
   "APLD moved about": "103%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221230.5%",
   "APLD": "+60.3%",
   "+2x the move": "+120.7%",
   "Difference": "\u2212151.1 pts",
   "APLD moved about": "103%"
  }
 ],
 "questions": [
  {
   "q": "Did APLX return +2 times APLD?",
   "a": "Over the window to Sep 30, 2026, APLD moved \u221231.4% and APLX returned \u221263.0%. 2 times that move is \u221262.8%, so the fund came out 0.3 points short of it."
  },
  {
   "q": "Why does APLX not return +2 times over a year?",
   "a": "Because it resets daily. APLX 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."
  }
 ],
 "generated": "2026-10-01",
 "license": "https://etfiq.com/license/",
 "license_text": "Free to use with attribution. ETFIQ (etfiq.com)."
}