BMNZ vs. AIPO

Last updated Jul 17, 2026

BMNZ (Defiance Daily Target 2X Short BMNR ETF) and AIPO (Defiance AI & Power Infrastructure ETF) are both exchange-traded funds - BMNZ is a Inverse Equities fund tracking the BitMine Immersion Technologies, Inc., while AIPO is a Building & Construction fund tracking the MarketVector™ US Listed AI and Power Infrastructure Index. Both are passively managed. At a correlation of -0.55, they often move in opposite directions. BMNZ charges 1.31%/yr vs 0.69%/yr for AIPO.

Performance

BMNZ vs. AIPO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Short BMNR ETF (BMNZ) and Defiance AI & Power Infrastructure ETF (AIPO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BMNZ achieves a -13.39% return, which is significantly lower than AIPO's 32.32% return.

BMNZ

• 1D: 4.39%
• 1M: -5.35%
• 6M: 28.59%
• YTD: -13.39%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AIPO

• 1D: -4.06%
• 1M: -9.52%
• 6M: 21.25%
• YTD: 32.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BMNZ vs. AIPO - Yearly Performance Comparison

	2026 (YTD)	2025
BMNZ Defiance Daily Target 2X Short BMNR ETF	-13.39%	15.30%
AIPO Defiance AI & Power Infrastructure ETF	32.32%	-7.01%

Correlation

The correlation between BMNZ and AIPO is -0.55, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 13, 2025	-0.55

Return for Risk

BMNZ vs. AIPO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short BMNR ETF (BMNZ) and Defiance AI & Power Infrastructure ETF (AIPO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

BMNZ vs. AIPO - Drawdown Comparison

The maximum BMNZ drawdown since its inception was -70.80%, which is greater than AIPO's maximum drawdown of -17.31%. Use the drawdown chart below to compare losses from any high point for BMNZ and AIPO.

Drawdown Indicators

	BMNZ	AIPO	Difference
Max Drawdown Largest peak-to-trough decline	-70.80%	-17.31%	-53.49%
Current Drawdown Current decline from peak	-51.51%	-15.82%	-35.69%
Average Drawdown Average peak-to-trough decline	-49.97%	-4.77%	-45.20%

Volatility

Volatility by Period

	BMNZ	AIPO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	184.15%	36.08%	+148.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	184.15%	36.08%	+148.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	184.15%	36.08%	+148.07%

BMNZ vs. AIPO - Expense Ratio Comparison

BMNZ has a 1.31% expense ratio, which is higher than AIPO's 0.69% expense ratio.

Dividends

BMNZ vs. AIPO - Dividend Comparison

BMNZ has not paid dividends to shareholders, while AIPO's dividend yield for the trailing twelve months is around 0.01%.

Position	TTM	2025
AIPO Defiance AI & Power Infrastructure ETF	0.01%	0.01%
BMNZ Defiance Daily Target 2X Short BMNR ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both BMNZ and AIPO in my portfolio?

BMNZ and AIPO have a correlation of -0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BMNZ or AIPO?

On fees, AIPO is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BMNZ or AIPO?

AIPO is cheaper with a 0.69% expense ratio, compared with 1.31% for BMNZ.

Which ETF pays a higher dividend yield, BMNZ or AIPO?

AIPO has the higher dividend yield at 0.01%, compared with 0.00% for BMNZ.

What is the main difference between BMNZ and AIPO?

BMNZ is categorized as Inverse Equities, while AIPO is Building & Construction. BMNZ tracks BitMine Immersion Technologies, Inc., while AIPO tracks MarketVector™ US Listed AI and Power Infrastructure Index. Their fees differ too: 1.31% for BMNZ and 0.69% for AIPO.