HIMZ vs. SPYT

Last updated Jun 24, 2026

HIMZ (Defiance Daily Target 2X Long HIMS ETF) and SPYT (Defiance S&P 500 Income Target ETF) are both exchange-traded funds - HIMZ is a Leveraged Equities fund actively managed by Defiance, while SPYT is a Derivative Income fund actively managed by Defiance. Both are actively managed. Over the past year, HIMZ returned -79.25% vs 19.62% for SPYT. At a 0.41 correlation, their price movements are largely independent. HIMZ charges 1.31%/yr vs 0.87%/yr for SPYT.

Performance

HIMZ vs. SPYT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long HIMS ETF (HIMZ) and Defiance S&P 500 Income Target ETF (SPYT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HIMZ achieves a -44.56% return, which is significantly lower than SPYT's 7.21% return.

HIMZ

• 1D: -3.64%
• 1M: 78.12%
• YTD: -44.56%
• 6M: -52.24%
• 1Y: -79.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPYT

• 1D: -1.32%
• 1M: -1.62%
• YTD: 7.21%
• 6M: 6.55%
• 1Y: 19.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HIMZ vs. SPYT - Yearly Performance Comparison

	2026 (YTD)	2025
HIMZ Defiance Daily Target 2X Long HIMS ETF	-44.56%	-69.65%
SPYT Defiance S&P 500 Income Target ETF	7.21%	18.94%

Correlation

The correlation between HIMZ and SPYT is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Mar 13, 2025	0.41

HIMZ vs. SPYT - Sectors Allocation Comparison

Sectors	HIMZ	SPYT
Consumer Defensive	100.0%	4.6%
Basic Materials	-	1.7%
Communication Services	-	10.8%
Consumer Cyclical	-	10.0%
Energy	-	3.2%
Financial Services	-	11.0%
Healthcare	-	8.4%
Industrials	-	7.9%
Real Estate	-	1.8%
Technology	-	38.4%
Utilities	-	2.1%

Return for Risk

HIMZ vs. SPYT — Risk / Return Rank

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

HIMZ

HIMZ Risk / Return Rank: 5
HIMZ Sharpe Ratio Rank: 5
HIMZ Sortino Ratio Rank: 7
HIMZ Omega Ratio Rank: 7
HIMZ Calmar Ratio Rank: 2
HIMZ Martin Ratio Rank: 4

SPYT

SPYT Risk / Return Rank: 55
SPYT Sharpe Ratio Rank: 52
SPYT Sortino Ratio Rank: 50
SPYT Omega Ratio Rank: 57
SPYT Calmar Ratio Rank: 52
SPYT Martin Ratio Rank: 63

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.

HIMZ vs. SPYT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long HIMS ETF (HIMZ) and Defiance S&P 500 Income Target ETF (SPYT). 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.

	HIMZ	SPYT	Difference
Sharpe ratio: Return per unit of total volatility	-0.43	1.72	-2.15
Sortino ratio: Return per unit of downside risk	-0.01	2.36	-2.37
Omega ratio: Gain probability vs. loss probability	1.00	1.34	-0.34
Calmar ratio: Return relative to maximum drawdown	-0.82	2.46	-3.28
Martin ratio: Return relative to average drawdown	-1.06	10.95	-12.01

HIMZ vs. SPYT - Sharpe Ratio Comparison

The current HIMZ Sharpe Ratio is -0.43, which is lower than the SPYT Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of HIMZ and SPYT, 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

HIMZ vs. SPYT - Drawdown Comparison

The maximum HIMZ drawdown since its inception was -98.18%, which is greater than SPYT's maximum drawdown of -18.25%. Use the drawdown chart below to compare losses from any high point for HIMZ and SPYT.

Drawdown Indicators

	HIMZ	SPYT	Difference
Max Drawdown Largest peak-to-trough decline	-98.18%	-18.25%	-79.93%
Max Drawdown (1Y) Largest decline over 1 year	-97.18%	-8.00%	-89.18%
Current Drawdown Current decline from peak	-93.98%	-2.93%	-91.05%
Average Drawdown Average peak-to-trough decline	-69.79%	-2.00%	-67.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	74.50%	1.80%	+72.70%

Volatility

HIMZ vs. SPYT - Volatility Comparison

Defiance Daily Target 2X Long HIMS ETF (HIMZ) has a higher volatility of 46.42% compared to Defiance S&P 500 Income Target ETF (SPYT) at 4.54%. This indicates that HIMZ's price experiences larger fluctuations and is considered to be riskier than SPYT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HIMZ	SPYT	Difference
Volatility (1M) Calculated over the trailing 1-month period	46.42%	4.54%	+41.88%
Volatility (6M) Calculated over the trailing 6-month period	136.27%	9.24%	+127.03%
Volatility (1Y) Calculated over the trailing 1-year period	195.06%	11.51%	+183.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	200.31%	14.90%	+185.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	200.31%	14.90%	+185.41%

HIMZ vs. SPYT - Expense Ratio Comparison

HIMZ has a 1.31% expense ratio, which is higher than SPYT's 0.87% expense ratio.

Dividends

HIMZ vs. SPYT - Dividend Comparison

HIMZ's dividend yield for the trailing twelve months is around 4.41%, less than SPYT's 21.21% yield.

Position	TTM	2025	2024
HIMZ Defiance Daily Target 2X Long HIMS ETF	4.41%	2.44%	0.00%
SPYT Defiance S&P 500 Income Target ETF	21.21%	21.40%	17.37%

Frequently Asked Questions

Can I hold both HIMZ and SPYT in my portfolio?

HIMZ and SPYT have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HIMZ or SPYT?

HIMZ has higher volatility (46.42%) compared to SPYT (4.54%). In terms of maximum drawdown, HIMZ dropped -98.18% vs SPYT's -18.25%.

Which ETF is better, HIMZ or SPYT?

On 1-year performance, SPYT leads with 19.62% vs -79.25% for HIMZ. On fees, SPYT is cheaper at 0.87% per year. On volatility, SPYT has been the lower-risk option at 4.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HIMZ or SPYT?

Over the 1-year period, SPYT has performed better with a 19.62% return vs -79.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HIMZ or SPYT?

SPYT is cheaper with a 0.87% expense ratio, compared with 1.31% for HIMZ.

Which ETF pays a higher dividend yield, HIMZ or SPYT?

SPYT has the higher dividend yield at 21.21%, compared with 4.41% for HIMZ.

What is the main difference between HIMZ and SPYT?

HIMZ is categorized as Leveraged Equities, while SPYT is Derivative Income. Their fees differ too: 1.31% for HIMZ and 0.87% for SPYT.

Which has better risk-adjusted returns?

SPYT currently has the higher Sharpe Ratio (1.72 vs -0.43), 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.