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Performance
RKLZ Performance Chart
Defiance Daily Target 2X Short RKLB ETF (RKLZ) is down 92.7% since the beginning of the year. RKLZ is currently trading at $3 per share.
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Returns By Period
Defiance Daily Target 2X Short RKLB ETF
- 1D
- 13.11%
- 1M
- 43.13%
- YTD
- -92.66%
- 6M
- -91.14%
- 1Y
- —
- 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%
RKLZ Monthly Returns History
Based on dividend-adjusted daily data since Nov 18, 2025, RKLZ's average daily return is -1.70%, while the average monthly return is -24.01%.
Historically, 25% of months were positive and 75% were negative. The best month was Jun 2026 with a return of +64.1%, while the worst month was May 2026 at -84.9%. The longest winning streak lasted 1 consecutive months, and the longest losing streak was 3 months.
On a daily basis, RKLZ closed higher 44% of trading days. The best single day was Jun 1, 2026 with a return of +29.4%, while the worst single day was May 8, 2026 at -68.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -37.16% | 7.43% | -12.63% | -49.70% | -84.92% | 64.13% | -92.66% | ||||||
| 2025 | -4.50% | -74.76% | -75.89% |
Benchmark Metrics
Defiance Daily Target 2X Short RKLB ETF has an annualized alpha of -93.78%, beta of -7.46, and R2 of 0.24 versus S&P 500 Index. Calculated based on daily prices since November 18, 2025.
- This ETF participated in 462.95% of S&P 500 Index downside but only -131.01% of its upside - more exposed to losses than it benefited from rallies.
- Beta of -7.46 may look defensive, but with R2 of 0.24 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- 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
- -93.78%
- Beta
- -7.46
- R²
- 0.24
- Upside Capture
- -131.01%
- Downside Capture
- 462.95%
Expense Ratio
RKLZ has a high expense ratio of 1.29%, indicating above-average management fees.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Defiance Daily Target 2X Short RKLB ETF (RKLZ) 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.
| RKLZ | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.37 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.78 | — |
| Martin ratioReturn relative to average drawdown | — | 12.44 | — |
Dividends
Dividend History
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 Short RKLB 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 Short RKLB ETF was 99.10%, occurring on May 27, 2026. The portfolio has not yet recovered.
The current Defiance Daily Target 2X Short RKLB ETF drawdown is 98.39%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -99.10%May 2026 | 6mo 7d | — | 7mo 4dNov 2025 - now |
2025 pullback2025 | -7.92%Nov 2025 | 1d | 1d | 2dNov 2025 - Nov 2025 |
Drawdown Indicators
| RKLZ | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.10% | -56.78% | -42.32% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
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 | -98.39% | -1.80% | -96.59% |
Average DrawdownAverage peak-to-trough decline | -81.24% | -10.71% | -70.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.03% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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