T-REX 2X Long Apple Daily Target ETF

Frequently Asked Questions About AAPX

What does AAPX invest in?

This fund, in its typical operations, primarily utilizes financial swap agreements. These derivatives are designed to deliver daily investment exposure that is equivalent to 200% of Apple's (AAPL) stock performance, and at least 80% of the fund's net assets (plus any capital acquired through borrowing for investment purposes) is dedicated to these arrangements. The ETF executes these swap contracts with major financial institutions globally. Through these agreements, the fund and the counterparty institution exchange returns, allowing the fund to achieve a daily return that mirrors double the value of its net assets, as if directly invested in AAPL. Importantly, this fund maintains a non-diversified portfolio.

What is the expense ratio of AAPX?

T-REX 2X Long Apple Daily Target ETF (AAPX) charges an expense ratio of 1.05%. This is the annual fee deducted from fund assets to cover management and operations.

Is AAPX a good long-term hold?

AAPX 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 AAPX's daily reset work?

AAPX 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 AAPX?

T-REX 2X Long Apple Daily Target ETF (AAPX) manages $10.3M 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 AAPX actively managed or an index fund?

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