HOOW vs. HOOX

Last updated Jun 24, 2026

HOOW (Roundhill HOOD WeeklyPay ETF) and HOOX (Defiance Daily Target 2X Long HOOD ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, HOOW returned 28.92% vs -7.26% for HOOX. With a 1.00 correlation, they move nearly in lockstep. HOOW charges 0.99%/yr vs 1.31%/yr for HOOX.

Performance

HOOW vs. HOOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill HOOD WeeklyPay ETF (HOOW) and Defiance Daily Target 2X Long HOOD ETF (HOOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HOOW achieves a -14.70% return, which is significantly higher than HOOX's -41.20% return.

HOOW

• 1D: -2.94%
• 1M: 47.20%
• YTD: -14.70%
• 6M: -20.92%
• 1Y: 28.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HOOX

• 1D: -4.60%
• 1M: 83.42%
• YTD: -41.20%
• 6M: -48.54%
• 1Y: -7.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HOOW vs. HOOX - Yearly Performance Comparison

	2026 (YTD)	2025
HOOW Roundhill HOOD WeeklyPay ETF	-14.70%	52.60%
HOOX Defiance Daily Target 2X Long HOOD ETF	-41.20%	62.25%

Correlation

The correlation between HOOW and HOOX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	1.00

The correlation between HOOW and HOOX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

HOOW vs. HOOX - Sectors Allocation Comparison

Sectors	HOOW	HOOX
Financial Services	3.5%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

HOOW vs. HOOX — Risk / Return Rank

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

HOOW

HOOW Risk / Return Rank: 16
HOOW Sharpe Ratio Rank: 14
HOOW Sortino Ratio Rank: 20
HOOW Omega Ratio Rank: 19
HOOW Calmar Ratio Rank: 14
HOOW Martin Ratio Rank: 12

HOOX

HOOX Risk / Return Rank: 12
HOOX Sharpe Ratio Rank: 8
HOOX Sortino Ratio Rank: 18
HOOX Omega Ratio Rank: 18
HOOX Calmar Ratio Rank: 8
HOOX Martin Ratio Rank: 8

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.

HOOW vs. HOOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill HOOD WeeklyPay ETF (HOOW) and Defiance Daily Target 2X Long HOOD ETF (HOOX). 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.

	HOOW	HOOX	Difference
Sharpe ratio: Return per unit of total volatility	0.34	-0.05	+0.40
Sortino ratio: Return per unit of downside risk	1.10	0.97	+0.13
Omega ratio: Gain probability vs. loss probability	1.13	1.11	+0.02
Calmar ratio: Return relative to maximum drawdown	0.44	-0.08	+0.53
Martin ratio: Return relative to average drawdown	0.76	-0.13	+0.89

HOOW vs. HOOX - Sharpe Ratio Comparison

The current HOOW Sharpe Ratio is 0.34, which is higher than the HOOX Sharpe Ratio of -0.05. The chart below compares the historical Sharpe Ratios of HOOW and HOOX, 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

HOOW vs. HOOX - Drawdown Comparison

The maximum HOOW drawdown since its inception was -65.74%, smaller than the maximum HOOX drawdown of -87.11%. Use the drawdown chart below to compare losses from any high point for HOOW and HOOX.

Drawdown Indicators

	HOOW	HOOX	Difference
Max Drawdown Largest peak-to-trough decline	-65.74%	-87.11%	+21.37%
Max Drawdown (1Y) Largest decline over 1 year	-65.74%	-87.11%	+21.37%
Current Drawdown Current decline from peak	-42.07%	-72.78%	+30.71%
Average Drawdown Average peak-to-trough decline	-29.96%	-38.95%	+8.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.05%	56.21%	-18.16%

Volatility

HOOW vs. HOOX - Volatility Comparison

The current volatility for Roundhill HOOD WeeklyPay ETF (HOOW) is 28.68%, while Defiance Daily Target 2X Long HOOD ETF (HOOX) has a volatility of 46.79%. This indicates that HOOW experiences smaller price fluctuations and is considered to be less risky than HOOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HOOW	HOOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.68%	46.79%	-18.11%
Volatility (6M) Calculated over the trailing 6-month period	62.22%	102.33%	-40.11%
Volatility (1Y) Calculated over the trailing 1-year period	84.38%	139.87%	-55.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	84.14%	143.98%	-59.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	84.14%	143.98%	-59.84%

HOOW vs. HOOX - Expense Ratio Comparison

HOOW has a 0.99% expense ratio, which is lower than HOOX's 1.31% expense ratio.

Dividends

HOOW vs. HOOX - Dividend Comparison

HOOW's dividend yield for the trailing twelve months is around 136.33%, more than HOOX's 24.02% yield.

Position	TTM	2025
HOOW Roundhill HOOD WeeklyPay ETF	136.33%	67.92%
HOOX Defiance Daily Target 2X Long HOOD ETF	24.02%	14.12%

Frequently Asked Questions

Can I hold both HOOW and HOOX in my portfolio?

With a correlation of 1.00, HOOW and HOOX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, HOOW or HOOX?

HOOX has higher volatility (46.79%) compared to HOOW (28.68%). In terms of maximum drawdown, HOOW dropped -65.74% vs HOOX's -87.11%.

Which ETF is better, HOOW or HOOX?

On 1-year performance, HOOW leads with 28.92% vs -7.26% for HOOX. On fees, HOOW is cheaper at 0.99% per year. On volatility, HOOW has been the lower-risk option at 28.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HOOW or HOOX?

Over the 1-year period, HOOW has performed better with a 28.92% return vs -7.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HOOW or HOOX?

HOOW is cheaper with a 0.99% expense ratio, compared with 1.31% for HOOX.

Which ETF pays a higher dividend yield, HOOW or HOOX?

HOOW has the higher dividend yield at 136.33%, compared with 24.02% for HOOX.

What is the main difference between HOOW and HOOX?

They also come from different issuers: Roundhill and Defiance. Their fees differ too: 0.99% for HOOW and 1.31% for HOOX.

Which has better risk-adjusted returns?

HOOW currently has the higher Sharpe Ratio (0.34 vs -0.05), 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.