DOCS vs. AVGX

Last updated Jun 13, 2026

DOCS (Doximity, Inc.) is a stock, while AVGX (Defiance Daily Target 2X Long AVGO ETF) is Leveraged Equities fund actively managed by Defiance. Over the past year, DOCS returned -64.81% vs 58.36% for AVGX. At a 0.26 correlation, their price movements are largely independent.

Performance

DOCS vs. AVGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Doximity, Inc. (DOCS) and Defiance Daily Target 2X Long AVGO ETF (AVGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DOCS achieves a -54.74% return, which is significantly lower than AVGX's 3.39% return.

DOCS

• 1D: 0.10%
• 1M: -14.32%
• YTD: -54.74%
• 6M: -54.30%
• 1Y: -64.81%
• 3Y*: -14.86%
• 5Y*: —
• 10Y*: —

AVGX

• 1D: -1.88%
• 1M: -20.84%
• YTD: 3.39%
• 6M: -5.26%
• 1Y: 58.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DOCS vs. AVGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DOCS Doximity, Inc.	-54.74%	-17.06%	46.56%
AVGX Defiance Daily Target 2X Long AVGO ETF	3.39%	46.98%	54.13%

Correlation

The correlation between DOCS and AVGX is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (All Time) Calculated using the full available price history since Aug 22, 2024	0.26

The correlation between DOCS and AVGX shifts across timeframes, from 0.11 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DOCS vs. AVGX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DOCS

DOCS Risk / Return Rank: 5
DOCS Sharpe Ratio Rank: 2
DOCS Sortino Ratio Rank: 3
DOCS Omega Ratio Rank: 2
DOCS Calmar Ratio Rank: 9
DOCS Martin Ratio Rank: 8

AVGX

AVGX Risk / Return Rank: 26
AVGX Sharpe Ratio Rank: 21
AVGX Sortino Ratio Rank: 30
AVGX Omega Ratio Rank: 31
AVGX Calmar Ratio Rank: 26
AVGX Martin Ratio Rank: 22

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DOCS vs. AVGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Doximity, Inc. (DOCS) and Defiance Daily Target 2X Long AVGO ETF (AVGX). 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.

	DOCS	AVGX	Difference
Sharpe ratio: Return per unit of total volatility	-1.20	0.64	-1.84
Sortino ratio: Return per unit of downside risk	-1.96	1.44	-3.40
Omega ratio: Gain probability vs. loss probability	0.72	1.19	-0.47
Calmar ratio: Return relative to maximum drawdown	-0.85	1.08	-1.94
Martin ratio: Return relative to average drawdown	-1.43	2.35	-3.78

DOCS vs. AVGX - Sharpe Ratio Comparison

The current DOCS Sharpe Ratio is -1.20, which is lower than the AVGX Sharpe Ratio of 0.64. The chart below compares the historical Sharpe Ratios of DOCS and AVGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DOCS vs. AVGX - Drawdown Comparison

The maximum DOCS drawdown since its inception was -82.35%, which is greater than AVGX's maximum drawdown of -70.97%. Use the drawdown chart below to compare losses from any high point for DOCS and AVGX.

Drawdown Indicators

	DOCS	AVGX	Difference
Max Drawdown Largest peak-to-trough decline	-82.35%	-70.97%	-11.38%
Max Drawdown (1Y) Largest decline over 1 year	-76.03%	-54.09%	-21.94%
Max Drawdown (3Y) Largest decline over 3 years	-78.34%	—	—
Current Drawdown Current decline from peak	-80.36%	-39.65%	-40.71%
Average Drawdown Average peak-to-trough decline	-57.18%	-23.11%	-34.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	45.49%	24.90%	+20.59%

Volatility

DOCS vs. AVGX - Volatility Comparison

The current volatility for Doximity, Inc. (DOCS) is 29.57%, while Defiance Daily Target 2X Long AVGO ETF (AVGX) has a volatility of 42.68%. This indicates that DOCS experiences smaller price fluctuations and is considered to be less risky than AVGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DOCS	AVGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.57%	42.68%	-13.11%
Volatility (6M) Calculated over the trailing 6-month period	44.93%	71.57%	-26.64%
Volatility (1Y) Calculated over the trailing 1-year period	54.14%	91.19%	-37.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	70.07%	106.96%	-36.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.07%	106.96%	-36.89%

Dividends

DOCS vs. AVGX - Dividend Comparison

DOCS has not paid dividends to shareholders, while AVGX's dividend yield for the trailing twelve months is around 1.60%.

Position	TTM	2025	2024
AVGX Defiance Daily Target 2X Long AVGO ETF	1.60%	1.65%	0.81%
DOCS Doximity, Inc.	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DOCS and AVGX in my portfolio?

DOCS and AVGX have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DOCS or AVGX?

AVGX has higher volatility (42.68%) compared to DOCS (29.57%). In terms of maximum drawdown, DOCS dropped -82.35% vs AVGX's -70.97%.

Which has better risk-adjusted returns?

AVGX currently has the higher Sharpe Ratio (0.64 vs -1.20), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.