AAPD vs TAIL
Direxion Daily AAPL Bear 1X ETF vs Cambria Tail Risk ETF
Which is better, AAPD or TAIL?
TAIL has been ahead.
TAIL has a lower expense ratio. TAIL led over 1Y, 3Y and the full window.
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 | TAIL |
|---|---|---|
| Expense Ratio | 1.00% | 0.59%Best |
| AUM | $16M | $152M |
| Dividend Yield | 4.37% | 3.56% |
| Holdings | 9 | 22 |
| YTD Return | -21.75% | -14.34%Best |
| 1Y Return | -27.86% | -17.22%Best |
| 3Y Return (annualized) | -19.97% | -6.11%Best |
| 5Y Return (annualized) | - | -9.78% |
| Volatility (annualized) | 22.5% | 9.2%Best |
| Max Drawdown | -63.4% | -36.2%Best |
| $10,000 over 4.2 years | $4,607 | $6,554Best |
| Fund Family | Direxion Shares ETF Trust | Cambria Investment Management |
| Category | Alternative | Alternative |
| Style | Trading-Inverse Equity | Trading-Inverse Equity |
| Inception | Aug 9, 2022 | Apr 5, 2017 |
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 TAIL 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 TAIL Performance
Direxion Daily AAPL Bear 1X ETF (AAPD) is an ETF from Direxion Shares ETF Trust and Cambria Tail Risk ETF (TAIL) is an ETF from Cambria Investment Management. Over the past year AAPD returned -27.86% while TAIL returned -17.22%. Year to date, AAPD is down 21.75% versus a loss of 14.34% for TAIL.
Over three years, AAPD compounded at -19.97% per year against -6.11% for TAIL. Across the full 4-year window we track, TAIL has the edge at -9.57% annualized vs -16.85%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
AAPD has been the more volatile fund, with annualized monthly volatility of 22.5% compared with 9.2% for TAIL. 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 -36.2% for TAIL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.23. They move largely independently of each other.
Fees and Cost Over Time
AAPD charges 1.00% per year while TAIL charges 0.59%. On a $10,000 position that is $100 vs $59 annually, a gap of $41 per year that compounds over a long holding period. On income, AAPD currently yields 4.37% against 3.56% for TAIL.
Holdings Overlap
We hold position weights for 3 holdings in AAPD and 2 in TAIL, totalling 83.4% and 93.4% 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 2 in TAIL, against full books of 9 and 22.
You are not choosing between two funds in isolation.
Whichever of AAPD and TAIL 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 TAIL?
AAPD has an expense ratio of 1.00% while TAIL charges 0.59%. TAIL is the cheaper option, by $41 a year on a $10,000 investment.
Which performed better, AAPD or TAIL?
Over the past year AAPD returned -27.86% vs -17.22% for TAIL, so TAIL leads on 1-year performance. Over the longest common window we track (4 years), AAPD annualized -16.85% vs -9.57% for TAIL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, AAPD or TAIL?
AAPD has been the more volatile fund at 22.5% annualized versus 9.2% for TAIL. Worst drawdown: AAPD -63.4% vs TAIL -36.2%.
Should I hold both AAPD and TAIL?
AAPD and TAIL have a monthly-return correlation of 0.23, 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 TAIL?
AAPD yields 4.37% while TAIL yields 3.56%, so AAPD currently pays the higher dividend yield.
Is TAIL better than AAPD?
TAIL has a lower expense ratio. TAIL led over 1Y, 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.