HOOX vs. SPYT

Last updated Jul 14, 2026

HOOX (Defiance Daily Target 2X Long HOOD ETF) and SPYT (Defiance S&P 500 Income Target ETF) are both exchange-traded funds - HOOX 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, HOOX returned -36.63% vs 18.06% for SPYT. A 0.60 correlation means they provide meaningful diversification when combined. HOOX charges 1.31%/yr vs 0.87%/yr for SPYT.

Performance

HOOX vs. SPYT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long HOOD ETF (HOOX) 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, HOOX achieves a -35.42% return, which is significantly lower than SPYT's 9.52% return.

HOOX

• 1D: -3.78%
• 1M: 32.61%
• 6M: -39.46%
• YTD: -35.42%
• 1Y: -36.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPYT

• 1D: -0.69%
• 1M: 1.51%
• 6M: 7.86%
• YTD: 9.52%
• 1Y: 18.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HOOX vs. SPYT - Yearly Performance Comparison

	2026 (YTD)	2025
HOOX Defiance Daily Target 2X Long HOOD ETF	-35.42%	342.84%
SPYT Defiance S&P 500 Income Target ETF	9.52%	18.33%

Correlation

The correlation between HOOX and SPYT is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (All Time) Calculated using the full available price history since Mar 19, 2025	0.60

The correlation between HOOX and SPYT has been stable across timeframes, ranging from 0.59 to 0.60 - a consistent structural relationship.

HOOX vs. SPYT - Sectors Allocation Comparison

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

Return for Risk

HOOX vs. SPYT — 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: 7
HOOX Sortino Ratio Rank: 14
HOOX Omega Ratio Rank: 13
HOOX Calmar Ratio Rank: 6
HOOX Martin Ratio Rank: 6

SPYT

SPYT Risk / Return Rank: 62
SPYT Sharpe Ratio Rank: 59
SPYT Sortino Ratio Rank: 58
SPYT Omega Ratio Rank: 65
SPYT Calmar Ratio Rank: 57
SPYT Martin Ratio Rank: 68

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. SPYT - Risk-Adjusted Trends Comparison

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

	HOOX	SPYT	Difference
Sharpe ratio: Return per unit of total volatility	-0.27	1.58	-1.84
Sortino ratio: Return per unit of downside risk	0.53	2.19	-1.66
Omega ratio: Gain probability vs. loss probability	1.06	1.31	-0.25
Calmar ratio: Return relative to maximum drawdown	-0.42	2.27	-2.69
Martin ratio: Return relative to average drawdown	-0.63	9.85	-10.47

HOOX vs. SPYT - Sharpe Ratio Comparison

The current HOOX Sharpe Ratio is -0.27, which is lower than the SPYT Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of HOOX 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

HOOX vs. SPYT - Drawdown Comparison

The maximum HOOX drawdown since its inception was -87.11%, which is greater than SPYT's maximum drawdown of -18.25%. Use the drawdown chart below to compare losses from any high point for HOOX and SPYT.

Drawdown Indicators

	HOOX	SPYT	Difference
Max Drawdown Largest peak-to-trough decline	-87.11%	-18.25%	-68.86%
Max Drawdown (1Y) Largest decline over 1 year	-87.11%	-8.00%	-79.11%
Current Drawdown Current decline from peak	-70.10%	-0.84%	-69.26%
Average Drawdown Average peak-to-trough decline	-40.22%	-1.99%	-38.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	58.47%	1.84%	+56.63%

Volatility

HOOX vs. SPYT - Volatility Comparison

Defiance Daily Target 2X Long HOOD ETF (HOOX) has a higher volatility of 38.19% compared to Defiance S&P 500 Income Target ETF (SPYT) at 3.64%. This indicates that HOOX'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

	HOOX	SPYT	Difference
Volatility (1M) Calculated over the trailing 1-month period	38.19%	3.64%	+34.55%
Volatility (6M) Calculated over the trailing 6-month period	104.74%	9.31%	+95.43%
Volatility (1Y) Calculated over the trailing 1-year period	138.67%	11.51%	+127.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	143.48%	14.79%	+128.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	143.48%	14.79%	+128.69%

HOOX vs. SPYT - Expense Ratio Comparison

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

Dividends

HOOX vs. SPYT - Dividend Comparison

HOOX's dividend yield for the trailing twelve months is around 21.87%, more than SPYT's 21.01% yield.

Position	TTM	2025	2024
HOOX Defiance Daily Target 2X Long HOOD ETF	21.87%	14.12%	0.00%
SPYT Defiance S&P 500 Income Target ETF	21.01%	21.40%	17.37%

Frequently Asked Questions

Can I hold both HOOX and SPYT in my portfolio?

HOOX and SPYT have a correlation of 0.59, 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 SPYT?

HOOX has higher volatility (38.19%) compared to SPYT (3.64%). In terms of maximum drawdown, HOOX dropped -87.11% vs SPYT's -18.25%.

Which ETF is better, HOOX or SPYT?

On 1-year performance, SPYT leads with 18.06% vs -36.63% for HOOX. On fees, SPYT is cheaper at 0.87% per year. On volatility, SPYT has been the lower-risk option at 3.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HOOX or SPYT?

Over the 1-year period, SPYT has performed better with a 18.06% return vs -36.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HOOX or SPYT?

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

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

HOOX has the higher dividend yield at 21.87%, compared with 21.01% for SPYT.

What is the main difference between HOOX and SPYT?

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

Which has better risk-adjusted returns?

SPYT currently has the higher Sharpe Ratio (1.58 vs -0.27), 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.