AAPD vs SDS
Direxion Daily AAPL Bear 1X ETF vs ProShares UltraShort S&P500
Which is better, AAPD or SDS?
Each has led over a different period.
SDS has a lower expense ratio. AAPD led over 3Y and the full window, SDS over 1Y.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | AAPD | SDS |
|---|---|---|
| Expense Ratio | 1.00% | 0.91%Best |
| AUM | $16M | $348M |
| Dividend Yield | 4.37% | 5.19% |
| Holdings | 9 | 20 |
| YTD Return | -21.75% | -19.15%Best |
| 1Y Return | -27.86% | -23.19%Best |
| 3Y Return (annualized) | -19.97%Best | -29.75% |
| 5Y Return (annualized) | - | -20.88% |
| Volatility (annualized) | 22.5%Best | 27.2% |
| Max Drawdown | -63.4%Best | -77.1% |
| $10,000 over 4.2 years | $4,607Best | $3,043 |
| Fund Family | Direxion Shares ETF Trust | ProShares |
| Category | Alternative | Alternative |
| Style | Trading-Inverse Equity | Trading-Inverse Equity |
| Inception | Aug 9, 2022 | Jul 11, 2006 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 4.2 years row, are measured over the window both funds cover: Aug 9, 2022 to Oct 14, 2026 (4.2 years).
AAPD vs SDS growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 4.2 years both funds cover.
AAPD vs SDS Performance
Direxion Daily AAPL Bear 1X ETF (AAPD) is an ETF from Direxion Shares ETF Trust and ProShares UltraShort S&P500 (SDS) is an ETF from ProShares. Over the past year AAPD returned -27.86% while SDS returned -23.19%. Year to date, AAPD is down 21.75% versus a loss of 19.15% for SDS.
Over three years, AAPD compounded at -19.97% per year against -29.75% for SDS. Across the full 4-year window we track, AAPD has the edge at -16.85% annualized vs -24.67%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SDS has been the more volatile fund, with annualized monthly volatility of 27.2% compared with 22.5% for AAPD. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -63.4% for AAPD and -77.1% for SDS. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.64. They move together some of the time, and apart the rest.
Fees and Cost Over Time
AAPD charges 1.00% per year while SDS charges 0.91%. On a $10,000 position that is $100 vs $91 annually, a gap of $9 per year that compounds over a long holding period. On income, AAPD currently yields 4.37% against 5.19% for SDS.
Holdings Overlap
We hold position weights for 3 holdings in AAPD and 1 in SDS, totalling 83.4% and 93.5% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 3 positions we hold weights for in AAPD and 1 in SDS, against full books of 9 and 20.
You are not choosing between two funds in isolation.
Whichever of AAPD and SDS you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, AAPD or SDS?
AAPD has an expense ratio of 1.00% while SDS charges 0.91%. SDS is the cheaper option, by $9 a year on a $10,000 investment.
Which performed better, AAPD or SDS?
Over the past year AAPD returned -27.86% vs -23.19% for SDS, so SDS leads on 1-year performance. Over the longest common window we track (4 years), AAPD annualized -16.85% vs -24.67% for SDS. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, AAPD or SDS?
SDS has been the more volatile fund at 27.2% annualized versus 22.5% for AAPD. Worst drawdown: AAPD -63.4% vs SDS -77.1%.
Should I hold both AAPD and SDS?
AAPD and SDS have a monthly-return correlation of 0.64, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, AAPD or SDS?
AAPD yields 4.37% while SDS yields 5.19%, so SDS currently pays the higher dividend yield.
Is SDS better than AAPD?
SDS has a lower expense ratio. AAPD led over 3Y and the full window, SDS over 1Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.