HOOX vs. HOOG

Last updated Jun 4, 2026

HOOX (Defiance Daily Target 2X Long HOOD ETF) and HOOG (Leverage Shares 2X Long HOOD Daily ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, HOOX returned -31.77% vs -29.31% for HOOG. With a 1.00 correlation, they move nearly in lockstep. HOOX charges 1.31%/yr vs 0.75%/yr for HOOG.

Performance

HOOX vs. HOOG - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with HOOX having a -60.76% return and HOOG slightly higher at -60.40%.

HOOX

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

HOOG

• 1D: -12.13%
• 1M: 10.59%
• YTD: -60.40%
• 6M: -72.73%
• 1Y: -29.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HOOX vs. HOOG - Yearly Performance Comparison

	2026 (YTD)	2025
HOOX Defiance Daily Target 2X Long HOOD ETF	-60.76%	284.29%
HOOG Leverage Shares 2X Long HOOD Daily ETF	-60.40%	291.44%

Correlation

The correlation between HOOX and HOOG 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 Mar 24, 2025	1.00

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

Return for Risk

HOOX vs. HOOG — 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

HOOG

HOOG Risk / Return Rank: 9
HOOG Sharpe Ratio Rank: 6
HOOG Sortino Ratio Rank: 14
HOOG Omega Ratio Rank: 13
HOOG Calmar Ratio Rank: 6
HOOG Martin Ratio Rank: 6

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. HOOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long HOOD ETF (HOOX) and Leverage Shares 2X Long HOOD Daily ETF (HOOG). 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	HOOG	Difference
Sharpe ratio: Return per unit of total volatility	-0.23	-0.22	-0.02
Sortino ratio: Return per unit of downside risk	0.60	0.64	-0.03
Omega ratio: Gain probability vs. loss probability	1.07	1.07	0.00
Calmar ratio: Return relative to maximum drawdown	-0.37	-0.34	-0.03
Martin ratio: Return relative to average drawdown	-0.60	-0.55	-0.04
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. HOOG - Sharpe Ratio Comparison

The current HOOX Sharpe Ratio is -0.23, which is comparable to the HOOG Sharpe Ratio of -0.22. The chart below compares the historical Sharpe Ratios of HOOX and HOOG, 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	HOOG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.23	-0.22	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.31	+0.04

Drawdowns

HOOX vs. HOOG - Drawdown Comparison

The maximum HOOX drawdown since its inception was -87.11%, roughly equal to the maximum HOOG drawdown of -86.94%. Use the drawdown chart below to compare losses from any high point for HOOX and HOOG.

Drawdown Indicators

	HOOX	HOOG	Difference
Max Drawdown Largest peak-to-trough decline	-87.11%	-86.94%	-0.17%
Max Drawdown (1Y) Largest decline over 1 year	-87.11%	-86.94%	-0.17%
Current Drawdown Current decline from peak	-81.84%	-81.53%	-0.31%
Average Drawdown Average peak-to-trough decline	-37.46%	-37.56%	+0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	53.44%	53.22%	+0.22%

Volatility

HOOX vs. HOOG - Volatility Comparison

Defiance Daily Target 2X Long HOOD ETF (HOOX) and Leverage Shares 2X Long HOOD Daily ETF (HOOG) have volatilities of 41.73% and 41.51%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HOOX	HOOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	41.73%	41.51%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	101.05%	100.64%	+0.41%
Volatility (1Y) Calculated over the trailing 1-year period	137.62%	137.15%	+0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	144.08%	144.88%	-0.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	144.08%	144.88%	-0.80%

HOOX vs. HOOG - Expense Ratio Comparison

HOOX has a 1.31% expense ratio, which is higher than HOOG's 0.75% expense ratio.

Dividends

HOOX vs. HOOG - Dividend Comparison

HOOX's dividend yield for the trailing twelve months is around 35.99%, more than HOOG's 31.07% yield.

Position	TTM	2025
HOOG Leverage Shares 2X Long HOOD Daily ETF	31.07%	12.30%
HOOX Defiance Daily Target 2X Long HOOD ETF	35.99%	14.12%

Frequently Asked Questions

Can I hold both HOOX and HOOG in my portfolio?

With a correlation of 1.00, HOOX and HOOG 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, HOOX or HOOG?

HOOX has higher volatility (41.73%) compared to HOOG (41.51%). In terms of maximum drawdown, HOOX dropped -87.11% vs HOOG's -86.94%.

Which ETF is better, HOOX or HOOG?

On 1-year performance, HOOG leads with -29.31% vs -31.77% for HOOX. On fees, HOOG is cheaper at 0.75% per year. On volatility, HOOG has been the lower-risk option at 41.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HOOX or HOOG?

Over the 1-year period, HOOG has performed better with a -29.31% 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 HOOG?

HOOG is cheaper with a 0.75% expense ratio, compared with 1.31% for HOOX.

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

HOOX has the higher dividend yield at 35.99%, compared with 31.07% for HOOG.

What is the main difference between HOOX and HOOG?

They also come from different issuers: Defiance and Leverage Shares. Their fees differ too: 1.31% for HOOX and 0.75% for HOOG.

Which has better risk-adjusted returns?

HOOG currently has the higher Sharpe Ratio (-0.22 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.