DKNX vs. IWMY
DKNX (Defiance Daily Target 2X Long DKNG ETF) and IWMY (Defiance R2000 Enhanced Options & 0DTE Income ETF) are both exchange-traded funds - DKNX is a Leveraged Equities fund actively managed by Defiance, while IWMY is a Options Trading fund tracking the Russell 2000 Index. DKNX is actively managed, while IWMY is passively managed. At a 0.19 correlation, their price movements are largely independent. DKNX charges 1.29%/yr vs 0.99%/yr for IWMY.
Performance
DKNX vs. IWMY - Performance Comparison
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Returns By Period
In the year-to-date period, DKNX achieves a -65.05% return, which is significantly lower than IWMY's 16.07% return.
DKNX
- 1D
- -11.57%
- 1M
- -10.92%
- YTD
- -65.05%
- 6M
- -65.18%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IWMY
- 1D
- 0.83%
- 1M
- 2.53%
- YTD
- 16.07%
- 6M
- 13.47%
- 1Y
- 23.73%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DKNX vs. IWMY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DKNX Defiance Daily Target 2X Long DKNG ETF | -65.05% | -52.72% |
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF | 16.07% | 3.43% |
Correlation
The correlation between DKNX and IWMY is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 31, 2025 | 0.19 |
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Return for Risk
DKNX vs. IWMY — Risk / Return Rank
DKNX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IWMY
DKNX vs. IWMY - 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 R2000 Enhanced Options & 0DTE Income ETF (IWMY). 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.
| DKNX | IWMY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.25 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.06 | — |
| Martin ratioReturn relative to average drawdown | — | 6.73 | — |
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Drawdowns
DKNX vs. IWMY - Drawdown Comparison
The maximum DKNX drawdown since its inception was -86.10%, which is greater than IWMY's maximum drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for DKNX and IWMY.
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Drawdown Indicators
| DKNX | IWMY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.10% | -18.72% | -67.38% |
Max Drawdown (1Y)Largest decline over 1 year | — | -11.57% | — |
Current DrawdownCurrent decline from peak | -84.58% | 0.00% | -84.58% |
Average DrawdownAverage peak-to-trough decline | -59.28% | -2.93% | -56.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.54% | — |
Volatility
DKNX vs. IWMY - Volatility Comparison
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Volatility by Period
| DKNX | IWMY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.96% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 13.54% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 99.99% | 16.37% | +83.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 99.99% | 15.93% | +84.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 99.99% | 15.93% | +84.06% |
DKNX vs. IWMY - Expense Ratio Comparison
DKNX has a 1.29% expense ratio, which is higher than IWMY's 0.99% expense ratio.
Dividends
DKNX vs. IWMY - Dividend Comparison
DKNX has not paid dividends to shareholders, while IWMY's dividend yield for the trailing twelve months is around 44.15%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
DKNX Defiance Daily Target 2X Long DKNG ETF | 0.00% | 0.00% | 0.00% | 0.00% |
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF | 44.15% | 63.33% | 107.92% | 11.34% |
Frequently Asked Questions
DKNX and IWMY have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IWMY is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IWMY is cheaper with a 0.99% expense ratio, compared with 1.29% for DKNX.
IWMY has the higher dividend yield at 44.15%, compared with 0.00% for DKNX.
DKNX is categorized as Leveraged Equities, while IWMY is Options Trading. Their fees differ too: 1.29% for DKNX and 0.99% for IWMY.
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