Daily AAPL Bear 1X ETF (AAPD) Performance
AAPD total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −22.3% since Dec 31, 2025
- 1 year
- −25.1% total return
- 3 years
- −21.1% a year
- Since first price
- −17.0% a year since 2022
AAPD trailing returns vs SPY, QQQ, AGG
| Period | AAPD total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −2.8% | −2.8% | −1.0% | −5.0% | +0.9% |
| 3 months | −7.5% | −9.1% | +3.2% | +1.9% | −0.4% |
| 6 months | −21.7% | −23.6% | +7.8% | +8.4% | −1.5% |
| YTD | −22.3% | −24.6% | +12.3% | +15.1% | −1.0% |
| 1 year | −25.1% | −27.9% | +14.4% | +15.9% | −1.1% |
| 3 years | −50.9%−21.1%/yr | −56.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionAug 9, 2022 | −54.3%−17.0%/yr | −60.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: AAPD vs SPY
From Aug 9, 2022: AAPD grew to $4,573, SPY to $19,539.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
AAPD returns by calendar year
0 of 3 full years positive. Best 2025 (−11.4%), worst 2023 (−30.4%). 2026 is year to date.
AAPD annual returns table
| Year | AAPD | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −22.3% | −29.7% | +12.3% | +15.1% | −1.0% |
| 2025 | −11.4% | −41.2% | +17.7% | +20.8% | +7.2% |
| 2024 | −21.4% | −35.5% | +24.9% | +25.6% | +1.3% |
| 2023 | −30.4% | −35.4% | +26.2% | +54.9% | +5.7% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
AAPD largest drawdowns
Now 63.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 3, 2023 | −63.9% | Oct 22, 2026 | not yet | 3.8 years | 3.8 years so far |
| Sep 30, 2022 | −12.4% | Oct 28, 2022 | Nov 9, 2022 | 28 days | 40 days |
| Nov 9, 2022 | −11.4% | Nov 18, 2022 | Dec 19, 2022 | 9 days | 40 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
AAPD risk statistics
| Statistic | 3 years | Since 2022 |
|---|---|---|
| Annualized return | −20.2% | −17.5% |
| Volatility (annualized) | 19.9% | 22.8% |
| Sharpe ratio | -1.24 | -0.92 |
| Sortino ratio | -1.34 | -1.09 |
| Best month | +8.8% | +13.6% |
| Worst month | −13.0% | −13.0% |
| Best 12 months | +3.8% | +3.8% |
| Worst 12 months | −34.9% | −34.9% |
| Positive months | 36% | 37% |
| Beta vs S&P 500 | -0.69 | — |
| Correlation with S&P 500 | -0.43 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
AAPD rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 39 | −34.9% | −18.3% | +3.8% | 5% |
| 3-year (a year) | 15 | −21.5% | −17.3% | −12.5% | 0% |
Every holding period starting at a month-end since 2022. Returns for 3 years and longer are annualized.
AAPD performance overview
Daily AAPL Bear 1X ETF (AAPD) returned −25.1% over the past year, with distributions reinvested. Since its first recorded price in 2022 it has returned −17.0% a year, turning $10,000 into about $4,573. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −63.9%, from Jan 3, 2023 to Oct 22, 2026; the fund has not yet regained that high. AAPD finished 0 of its 3 full calendar years with a gain; the best year was 2025 (−11.4%) and the worst 2023 (−30.4%). Volatility has been 22.8% a year.
Related: AAPD chart, AAPD dividends. See the AAPD overview for the latest quote and fund facts.
AAPD performance FAQ
What is the AAPD return over the past year?
AAPD returned −25.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 27.9%.
How much would $10,000 invested in AAPD be worth?
$10,000 invested in AAPD at its first recorded close on August 9, 2022 would be worth about $4,573 on October 23, 2026 with distributions reinvested.
What was the worst year for AAPD?
The worst calendar year was 2023, with a total return of −30.4%. The best was 2025 at −11.4%.
What is the biggest drawdown of AAPD?
The largest peak-to-trough decline was −63.9% between January 3, 2023 and October 22, 2026. It has not yet recovered to that high; it is 63.8% below its peak.
How volatile is AAPD?
Over the past 3 years AAPD had an annualized volatility of 19.9% and a Sharpe ratio of -1.24 (excess return over 1–3 month T-bills per unit of risk).