# APLZ (Tradr 2X Short APLD Daily ETF)

Tradr · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: APLZ returned +12.7% where its own daily promise gave +14.6%, 2.0 points short.

## Key facts

- APLZ, what APLD did: −31.4%, as of Sep 30, 2026.
- APLZ, what −2 times a day gives: +14.6%, as of Sep 30, 2026.
- APLZ, what the fund returned: +12.7%, as of Sep 30, 2026.
- APLZ, the fund itself cost: −2.0 pts, as of Sep 30, 2026.
- APLZ, net assets: $5m (the issuer’s own daily fund list, as of Sep 30, 2026).
- APLZ, expense ratio: 1.49% (485BPOS XBRL, Jan 20, 2026).

## APLZ over each window to Sep 30, 2026

| Window | Fund | APLD | -2x the move | Difference | APLD moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −5.3% | −4.1% | +8.2% | −13.5 pts | 74% |
| 3 months | +12.7% | −31.4% | +62.8% | −50.1 pts | 89% |
| 6 months | −75.8% | −0.5% | +1.0% | −76.8 pts | 94% |
| Since launch | −81.5% | −29.9% | +59.7% | −141.2 pts | 102% |

## 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 | -0.4 times, against -2 stated | ETFIQ |
| Underlying | APLD | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $5m | the issuer’s own daily fund list, as of Sep 30, 2026 |
| Expense ratio | 1.49% | 485BPOS XBRL, Jan 20, 2026 |
| Launched | Jan 22, 2026 | ETFIQ |
| Underlying volatility over the window | 89% annualized | ETFIQ |

## Questions

### Did APLZ return -2 times APLD?

Over the window to Sep 30, 2026, APLD moved −31.4% and APLZ returned +12.7%. −2 times that move is +62.8%, so the fund came out 50.1 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 30, 2026. https://etfiq.com/funds/aplz
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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