HOOX vs. DFEN

Last updated Jun 4, 2026

HOOX (Defiance Daily Target 2X Long HOOD ETF) and DFEN (Direxion Daily Aerospace & Defense Bull 3X Shares) are both Leveraged Equities funds. HOOX is actively managed, while DFEN is passively managed. Over the past year, HOOX returned -31.77% vs 59.57% for DFEN. At a 0.47 correlation, their price movements are largely independent. HOOX charges 1.31%/yr vs 0.99%/yr for DFEN.

Performance

HOOX vs. DFEN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long HOOD ETF (HOOX) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HOOX achieves a -60.76% return, which is significantly lower than DFEN's 2.17% return.

HOOX

• 1D: -12.45%
• 1M: 10.42%
• YTD: -60.76%
• 6M: -72.98%
• 1Y: -31.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DFEN

• 1D: -4.54%
• 1M: 12.97%
• YTD: 2.17%
• 6M: 21.41%
• 1Y: 59.57%
• 3Y*: 63.19%
• 5Y*: 26.54%
• 10Y*: —

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

HOOX vs. DFEN - Yearly Performance Comparison

	2026 (YTD)	2025
HOOX Defiance Daily Target 2X Long HOOD ETF	-60.76%	312.21%
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	2.17%	114.18%

Correlation

The correlation between HOOX and DFEN is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (All Time) Calculated using the full available price history since Mar 20, 2025	0.47

HOOX vs. DFEN - Sectors Allocation Comparison

Sectors	HOOX	DFEN
Financial Services	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	19.7%
Real Estate	-	-
Technology	-	0.0%
Utilities	-	-

Return for Risk

HOOX vs. DFEN — Risk / Return Rank

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

HOOX

HOOX Risk / Return Rank: 9
HOOX Sharpe Ratio Rank: 6
HOOX Sortino Ratio Rank: 13
HOOX Omega Ratio Rank: 13
HOOX Calmar Ratio Rank: 6
HOOX Martin Ratio Rank: 6

DFEN

DFEN Risk / Return Rank: 27
DFEN Sharpe Ratio Rank: 26
DFEN Sortino Ratio Rank: 29
DFEN Omega Ratio Rank: 27
DFEN Calmar Ratio Rank: 29
DFEN Martin Ratio Rank: 25

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.

HOOX vs. DFEN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long HOOD ETF (HOOX) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN). 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.

	HOOX	DFEN	Difference
Sharpe ratio Return per unit of total volatility	-0.23	0.95	-1.18
Sortino ratio Return per unit of downside risk	0.60	1.59	-0.99
Omega ratio Gain probability vs. loss probability	1.07	1.19	-0.12
Calmar ratio Return relative to maximum drawdown	-0.37	1.43	-1.80
Martin ratio Return relative to average drawdown	-0.60	3.44	-4.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HOOX vs. DFEN - Sharpe Ratio Comparison

The current HOOX Sharpe Ratio is -0.23, which is lower than the DFEN Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of HOOX and DFEN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HOOX	DFEN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.23	0.95	-1.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.44	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.21	+0.13

Drawdowns

HOOX vs. DFEN - Drawdown Comparison

The maximum HOOX drawdown since its inception was -87.11%, roughly equal to the maximum DFEN drawdown of -91.36%. Use the drawdown chart below to compare losses from any high point for HOOX and DFEN.

Drawdown Indicators

	HOOX	DFEN	Difference
Max Drawdown Largest peak-to-trough decline	-87.11%	-91.36%	+4.25%
Max Drawdown (1Y) Largest decline over 1 year	-87.11%	-41.75%	-45.36%
Max Drawdown (3Y) Largest decline over 3 years	—	-43.13%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-56.23%	—
Current Drawdown Current decline from peak	-81.84%	-33.04%	-48.80%
Average Drawdown Average peak-to-trough decline	-37.46%	-45.27%	+7.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	53.44%	17.36%	+36.08%

Volatility

HOOX vs. DFEN - Volatility Comparison

Defiance Daily Target 2X Long HOOD ETF (HOOX) has a higher volatility of 41.73% compared to Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) at 22.35%. This indicates that HOOX's price experiences larger fluctuations and is considered to be riskier than DFEN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HOOX	DFEN	Difference
Volatility (1M) Calculated over the trailing 1-month period	41.73%	22.35%	+19.38%
Volatility (6M) Calculated over the trailing 6-month period	101.05%	53.06%	+47.99%
Volatility (1Y) Calculated over the trailing 1-year period	137.62%	63.21%	+74.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	144.08%	60.16%	+83.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	144.08%	71.48%	+72.60%

HOOX vs. DFEN - Expense Ratio Comparison

HOOX has a 1.31% expense ratio, which is higher than DFEN's 0.99% expense ratio.

Dividends

HOOX vs. DFEN - Dividend Comparison

HOOX's dividend yield for the trailing twelve months is around 35.99%, more than DFEN's 8.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	8.74%	8.89%	14.12%	1.13%	0.46%	1.89%	0.48%	0.50%	1.07%	1.50%
HOOX Defiance Daily Target 2X Long HOOD ETF	35.99%	14.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HOOX and DFEN in my portfolio?

HOOX and DFEN have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HOOX or DFEN?

HOOX has higher volatility (41.73%) compared to DFEN (22.35%). In terms of maximum drawdown, HOOX dropped -87.11% vs DFEN's -91.36%.

Which ETF is better, HOOX or DFEN?

On 1-year performance, DFEN leads with 59.57% vs -31.77% for HOOX. On fees, DFEN is cheaper at 0.99% per year. On volatility, DFEN has been the lower-risk option at 22.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HOOX or DFEN?

Over the 1-year period, DFEN has performed better with a 59.57% return vs -31.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HOOX or DFEN?

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

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

HOOX has the higher dividend yield at 35.99%, compared with 8.74% for DFEN.

What is the main difference between HOOX and DFEN?

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

Which has better risk-adjusted returns?

DFEN currently has the higher Sharpe Ratio (0.95 vs -0.23), 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.