DKNX vs. AIPO

Last updated Jun 6, 2026

DKNX (Defiance Daily Target 2X Long DKNG ETF) and AIPO (Defiance AI & Power Infrastructure ETF) are both exchange-traded funds - DKNX is a Leveraged Equities fund actively managed by Defiance, while AIPO is a Technology Equities fund tracking the MarketVector™ US Listed AI and Power Infrastructure Index. DKNX is actively managed, while AIPO is passively managed. At a 0.07 correlation, their price movements are largely independent. DKNX charges 1.29%/yr vs 0.69%/yr for AIPO.

Performance

DKNX vs. AIPO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long DKNG ETF (DKNX) 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, DKNX achieves a -57.81% return, which is significantly lower than AIPO's 40.87% return.

DKNX

• 1D: -3.93%
• 1M: 4.37%
• YTD: -57.81%
• 6M: -57.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AIPO

• 1D: -6.65%
• 1M: -6.45%
• YTD: 40.87%
• 6M: 31.16%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DKNX vs. AIPO - Yearly Performance Comparison

	2026 (YTD)	2025
DKNX Defiance Daily Target 2X Long DKNG ETF	-57.81%	-50.48%
AIPO Defiance AI & Power Infrastructure ETF	40.87%	7.50%

Correlation

The correlation between DKNX and AIPO is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 1, 2025	0.07

Return for Risk

DKNX vs. AIPO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long DKNG ETF (DKNX) 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.

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

Sharpe Ratios by Period

	DKNX	AIPO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.88	1.85	-2.72

Drawdowns

DKNX vs. AIPO - Drawdown Comparison

The maximum DKNX drawdown since its inception was -86.10%, which is greater than AIPO's maximum drawdown of -17.31%. Use the drawdown chart below to compare losses from any high point for DKNX and AIPO.

Drawdown Indicators

	DKNX	AIPO	Difference
Max Drawdown Largest peak-to-trough decline	-86.10%	-17.31%	-68.79%
Current Drawdown Current decline from peak	-81.39%	-8.38%	-73.01%
Average Drawdown Average peak-to-trough decline	-58.12%	-4.39%	-53.73%

Volatility

Volatility by Period

	DKNX	AIPO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	96.13%	34.75%	+61.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	96.13%	34.75%	+61.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	96.13%	34.75%	+61.38%

DKNX vs. AIPO - Expense Ratio Comparison

DKNX has a 1.29% expense ratio, which is higher than AIPO's 0.69% expense ratio.

Dividends

DKNX vs. AIPO - Dividend Comparison

DKNX 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%
DKNX Defiance Daily Target 2X Long DKNG ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both DKNX and AIPO in my portfolio?

DKNX and AIPO have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DKNX 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, DKNX or AIPO?

AIPO is cheaper with a 0.69% expense ratio, compared with 1.29% for DKNX.

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

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

What is the main difference between DKNX and AIPO?

DKNX is categorized as Leveraged Equities, while AIPO is Technology Equities. Their fees differ too: 1.29% for DKNX and 0.69% for AIPO.