HUTG vs. IONL

Last updated Jun 4, 2026

HUTG (Leverage Shares 2X Long HUT Daily ETF) and IONL (GraniteShares 2x Long IONQ Daily ETF) are both Leveraged Equities funds - HUTG tracks the Hut 8 Corp. (HUT) while IONL tracks the IonQ Inc. (IONQ). Both are passively managed. A 0.58 correlation means they provide meaningful diversification when combined. HUTG charges 0.75%/yr vs 1.50%/yr for IONL.

Performance

HUTG vs. IONL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long HUT Daily ETF (HUTG) and GraniteShares 2x Long IONQ Daily ETF (IONL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HUTG

• 1D: -2.52%
• 1M: 150.46%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IONL

• 1D: -8.47%
• 1M: 99.80%
• YTD: 48.62%
• 6M: 17.16%
• 1Y: 11.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HUTG vs. IONL - Yearly Performance Comparison

	2026 (YTD)
HUTG Leverage Shares 2X Long HUT Daily ETF	180.22%
IONL GraniteShares 2x Long IONQ Daily ETF	26.77%

Correlation

The correlation between HUTG and IONL is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 14, 2026	0.58

Return for Risk

HUTG vs. IONL — Risk / Return Rank

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

IONL

IONL Risk / Return Rank: 17
IONL Sharpe Ratio Rank: 10
IONL Sortino Ratio Rank: 29
IONL Omega Ratio Rank: 26
IONL Calmar Ratio Rank: 10
IONL Martin Ratio Rank: 10

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.

HUTG vs. IONL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long HUT Daily ETF (HUTG) and GraniteShares 2x Long IONQ Daily ETF (IONL). 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

	HUTG	IONL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.06	—
Sharpe Ratio (All Time) Calculated using the full available price history	6.18	0.43	+5.75

Drawdowns

HUTG vs. IONL - Drawdown Comparison

The maximum HUTG drawdown since its inception was -66.30%, smaller than the maximum IONL drawdown of -93.41%. Use the drawdown chart below to compare losses from any high point for HUTG and IONL.

Drawdown Indicators

	HUTG	IONL	Difference
Max Drawdown Largest peak-to-trough decline	-66.30%	-93.41%	+27.11%
Max Drawdown (1Y) Largest decline over 1 year	—	-93.41%	—
Current Drawdown Current decline from peak	-2.52%	-65.21%	+62.69%
Average Drawdown Average peak-to-trough decline	-26.80%	-50.11%	+23.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	62.00%	—

Volatility

Volatility by Period

	HUTG	IONL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	59.44%	—
Volatility (6M) Calculated over the trailing 6-month period	—	130.72%	—
Volatility (1Y) Calculated over the trailing 1-year period	220.40%	181.66%	+38.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	220.40%	195.45%	+24.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	220.40%	195.45%	+24.95%

HUTG vs. IONL - Expense Ratio Comparison

HUTG has a 0.75% expense ratio, which is lower than IONL's 1.50% expense ratio.

Dividends

HUTG vs. IONL - Dividend Comparison

Neither HUTG nor IONL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both HUTG and IONL in my portfolio?

HUTG and IONL have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HUTG or IONL?

On fees, HUTG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HUTG or IONL?

HUTG is cheaper with a 0.75% expense ratio, compared with 1.50% for IONL.

Which ETF pays a higher dividend yield, HUTG or IONL?

HUTG and IONL have nearly identical dividend yields, around 0.00%.

What is the main difference between HUTG and IONL?

HUTG tracks Hut 8 Corp. (HUT), while IONL tracks IonQ Inc. (IONQ). They also come from different issuers: Leverage Shares and GraniteShares. Their fees differ too: 0.75% for HUTG and 1.50% for IONL.