- CUSIP
- 88636R230
- Issuer
- Defiance
- Inception Date
- Mar 11, 2025
- Category
- Leveraged Equities
- Leveraged
- 2x
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Small-Cap
- Asset Class Style
- Growth
- Assets Under Management
- $274M
Share Price Chart
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Performance
IONX Performance Chart
Defiance Daily Target 2X Long IONQ ETF (IONX) is down 4.0% since the beginning of the year. IONX is currently trading at $63 per share.
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Returns By Period
Defiance Daily Target 2X Long IONQ ETF (IONX) has returned -3.95% so far this year and -32.00% over the past 12 months.
Defiance Daily Target 2X Long IONQ ETF
- 1D
- 6.60%
- 1M
- -23.74%
- YTD
- -3.95%
- 6M
- -34.32%
- 1Y
- -32.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
IONX Monthly Returns History
Based on dividend-adjusted daily data since Mar 12, 2025, IONX's average daily return is +0.90%, while the average monthly return is +15.79%. At this rate, an investment would double in approximately 0.4 years.
Historically, 50% of months were positive and 50% were negative. The best month was May 2026 with a return of +127.4%, while the worst month was Mar 2026 at -46.5%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 6 months.
On a daily basis, IONX closed higher 48% of trading days. The best single day was May 22, 2025 with a return of +73.1%, while the worst single day was Nov 20, 2025 at -28.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -25.58% | -19.88% | -46.45% | 120.11% | 127.43% | -39.92% | -3.95% | ||||||
| 2025 | 1.79% | 37.36% | 87.32% | 8.68% | -19.15% | 8.20% | 91.13% | -9.78% | -44.46% | -24.14% | 80.91% |
Benchmark Metrics
Defiance Daily Target 2X Long IONQ ETF has an annualized alpha of 150.50%, beta of 5.53, and R2 of 0.24 versus S&P 500 Index. Calculated based on daily prices since March 12, 2025.
- This ETF captured 1310.36% of S&P 500 Index gains and 527.67% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- R2 of 0.24 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 150.50%
- Beta
- 5.53
- R²
- 0.24
- Upside Capture
- 1,310.36%
- Downside Capture
- 527.67%
Expense Ratio
IONX has a high expense ratio of 1.31%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
IONX ranks 12 for risk / return — in the bottom 12% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Defiance Daily Target 2X Long IONQ ETF (IONX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IONX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.20 | ||
| Sortino ratioReturn per unit of downside risk | -1.65 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.37 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.34 | 2.78 | -3.13 |
| Martin ratioReturn relative to average drawdown | -0.49 | 12.44 | -12.93 |
Dividends
Dividend History
Defiance Daily Target 2X Long IONQ ETF provided a 2.65% dividend yield over the last twelve months, with an annual payout of $1.66 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $1.66 | $1.66 |
Dividend yield | 2.65% | 2.55% |
Monthly Dividends
The table displays the monthly dividend distributions for Defiance Daily Target 2X Long IONQ ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $1.66 | $1.66 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Defiance Daily Target 2X Long IONQ ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Defiance Daily Target 2X Long IONQ ETF was 93.75%, occurring on Mar 30, 2026. The portfolio has not yet recovered.
The current Defiance Daily Target 2X Long IONQ ETF drawdown is 78.10%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -93.75%Mar 2026 | 5mo 17d | — | 8mo 12dOct 2025 - now |
2025 bear market2025 | -50.31%Aug 2025 | 2mo 24d | 23d | 3mo 17dMay 2025 - Sep 2025 |
2025 selloff2025 | -39.73%Apr 2025 | 10d | 20d | 1moMar 2025 - Apr 2025 |
2025 bear market2025 | -33.90%Sep 2025 | 6d | 6d | 12dSep 2025 - Oct 2025 |
2025 selloff2025 | -29.94%Mar 2025 | 3d | 4d | 7dMar 2025 - Mar 2025 |
Drawdown Indicators
| IONX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.75% | -56.78% | -36.97% |
Max Drawdown (1Y)Largest decline over 1 year | -93.75% | -9.10% | -84.65% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -78.10% | -1.80% | -76.30% |
Average DrawdownAverage peak-to-trough decline | -50.62% | -10.71% | -39.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 64.77% | 2.03% | +62.74% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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