HOOZ vs. SPYT

Last updated Jun 6, 2026

HOOZ (Defiance Daily Target 2X Short HOOD ETF) and SPYT (Defiance S&P 500 Income Target ETF) are both exchange-traded funds - HOOZ is a Inverse Equities fund tracking the Robinhood Markets, Inc., while SPYT is a Derivative Income fund actively managed by Defiance. HOOZ is passively managed, while SPYT is actively managed. At a correlation of -0.65, they often move in opposite directions. HOOZ charges 1.31%/yr vs 0.87%/yr for SPYT.

Performance

HOOZ vs. SPYT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Short HOOD ETF (HOOZ) 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, HOOZ achieves a -11.18% return, which is significantly lower than SPYT's 7.34% return.

HOOZ

• 1D: 13.13%
• 1M: -22.74%
• YTD: -11.18%
• 6M: 15.12%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPYT

• 1D: -2.54%
• 1M: 0.18%
• YTD: 7.34%
• 6M: 7.09%
• 1Y: 20.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HOOZ vs. SPYT - Yearly Performance Comparison

	2026 (YTD)	2025
HOOZ Defiance Daily Target 2X Short HOOD ETF	-11.18%	-2.76%
SPYT Defiance S&P 500 Income Target ETF	7.34%	1.24%

Correlation

The correlation between HOOZ and SPYT is -0.65, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 14, 2025	-0.65

Return for Risk

HOOZ vs. SPYT — Risk / Return Rank

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

SPYT

SPYT Risk / Return Rank: 60
SPYT Sharpe Ratio Rank: 57
SPYT Sortino Ratio Rank: 56
SPYT Omega Ratio Rank: 64
SPYT Calmar Ratio Rank: 55
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.

HOOZ vs. SPYT - Risk-Adjusted Trends Comparison

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

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	HOOZ	SPYT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.88	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.16	1.00	-1.16

Drawdowns

HOOZ vs. SPYT - Drawdown Comparison

The maximum HOOZ drawdown since its inception was -66.52%, which is greater than SPYT's maximum drawdown of -18.25%. Use the drawdown chart below to compare losses from any high point for HOOZ and SPYT.

Drawdown Indicators

	HOOZ	SPYT	Difference
Max Drawdown Largest peak-to-trough decline	-66.52%	-18.25%	-48.27%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.00%	—
Current Drawdown Current decline from peak	-58.26%	-2.81%	-55.45%
Average Drawdown Average peak-to-trough decline	-29.37%	-2.00%	-27.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.73%	—

Volatility

Volatility by Period

	HOOZ	SPYT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.59%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.73%	—
Volatility (1Y) Calculated over the trailing 1-year period	146.04%	11.17%	+134.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	146.04%	14.88%	+131.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	146.04%	14.88%	+131.16%

HOOZ vs. SPYT - Expense Ratio Comparison

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

Dividends

HOOZ vs. SPYT - Dividend Comparison

HOOZ has not paid dividends to shareholders, while SPYT's dividend yield for the trailing twelve months is around 21.18%.

Position	TTM	2025	2024
HOOZ Defiance Daily Target 2X Short HOOD ETF	0.00%	0.00%	0.00%
SPYT Defiance S&P 500 Income Target ETF	21.18%	21.40%	17.37%

Frequently Asked Questions

Can I hold both HOOZ and SPYT in my portfolio?

HOOZ and SPYT have a correlation of -0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HOOZ or SPYT?

On fees, SPYT is cheaper at 0.87% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HOOZ or SPYT?

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

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

SPYT has the higher dividend yield at 21.18%, compared with 0.00% for HOOZ.

What is the main difference between HOOZ and SPYT?

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