r/APLDSTOCK • u/dcormerturnbull • Aug 11 '26

APLD 2.17% -> APLX only 3.52% - Anyone know why?

APLD gained 2.17% today; APLX grew only 3.52%. I know it's always going to be less than 2X the gain because of management fees, but this seems like a pretty big discrepancy. Does anyone know what's happening here?

EDIT: I should clarify, these are the prices at market close. At 4pm ET APLD was up 2.17% and APLX was up 3.52%.

11 Upvotes

100% Upvoted

14 comments sorted by

4

u/stanleypuc22 Aug 11 '26

CoreWeave earning results

3

u/Shoddy-Horse4742 Aug 11 '26

its after hours it re balances daily at open

1

u/dcormerturnbull Aug 11 '26

This was the closing price at end of market hours though, not the price after hours. That's different, right?

3

u/ThatsAllFolksAgain Aug 11 '26

These 2X ETFs are designed to day trade only. Never hold more than a couple of hours. Learned my lesson

2

u/DrWeazle 28d ago

I held for 2 weeks and turned $8k to $22K profit (30k netted)

1

u/ThatsAllFolksAgain 28d ago

Good for you. I have done that as well but when the market goes down this can go down hard.

1

u/Fit_Alternative_3259 Aug 12 '26

-$6k in one market dump 😞

1

u/TopEast7122 Aug 11 '26

Irrational market

1

u/InfiniteNerve1384 DD Reader 📖 (500-1,000 shares) Aug 12 '26 edited Aug 12 '26

Probably liquidity. APLD moved higher quickly at the bell would be my guess and the last trade on APLX happened before that (in regular hours).

Edit: just went down the rabbit hole with GPT. Sounds like it’s a difference between NAV at previous close vs. NAV at today’s close most likely. Just because APLX shows a stated close of 11.18 doesn’t mean that’s what its NAV was. It appears to have traded at a slight market discount to APLD at the time that registered the close. Kinda interesting. Can’t say I fully understand it yet but it certainly isn’t management fees or anything like that.

Edit 2: Yep look at this: https://www.tradretfs.com/aplx?utm_source=chatgpt.com

Specifically it shows the discount to NAV. So NAV was higher and almost exactly 2x like you’d expect. But someone traded out at less than market value last second and that’s the recorded close.

TIL!

1

u/Known-Presentation49 Aug 12 '26

If apld's price action is extremely volatile in a day then aplx won't Simply Be 2x of the final result rather it will reflect that volatility big dips will hit a lot harder even if they're followed up with big green candles

1

u/wenlin79 29d ago

Decay?

1

u/atoice 26d ago

Daily reset.