Direxion Daily AAPL Bull 2X Shares

Frequently Asked Questions About AAPU

What does AAPU invest in?

AAPU is a short-term tactical tool that aims to deliver 2x the price return, less fees and expenses, for a single day of Apple stock. Purchasers holding shares for longer than a day will need to monitor and rebalance their position frequently to attempt to achieve the 2x multiple. Aside from the leverage, compared to traditional ETFs, the shares take on added volatility due to the lack of diversification. Purchasers should conduct their own individual stock research prior to initiating a position and trade with conviction. Due to the complexities of the product, shares tend to perform as anticipated only when the underlying shares are trending and holders are on the positive corresponding side of that trade. However, the shares provide the advantage of capping the maximum loss to the full amount invested. Prior to April 2, 2024, the fund was named Direxion Daily AAPL Bull 1.5X Shares, seeking to provide a 1.5x leverage exposure. Effective February 27, 2026, the fund replaced the term Shares in its name with ETF.

What is the expense ratio of AAPU?

Direxion Daily AAPL Bull 2X Shares (AAPU) charges an expense ratio of 0.96%. This is the annual fee deducted from fund assets to cover management and operations.

Is AAPU a good long-term hold?

AAPU is a leveraged fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple — typically negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.

How does AAPU's daily reset work?

AAPU rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level — so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.

How big is AAPU?

Direxion Daily AAPL Bull 2X Shares (AAPU) manages $183.2M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is AAPU actively managed or an index fund?

AAPU's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.