IONL vs. BOEG
IONL (GraniteShares 2x Long IONQ Daily ETF) and BOEG (Leverage Shares 2X Long BA Daily ETF) are both Leveraged Equities funds. IONL is passively managed, while BOEG is actively managed. Over the past year, IONL returned -28.77% vs -7.01% for BOEG. At a 0.24 correlation, their price movements are largely independent. IONL charges 1.50%/yr vs 0.75%/yr for BOEG.
Performance
IONL vs. BOEG - Performance Comparison
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Returns By Period
In the year-to-date period, IONL achieves a -1.24% return, which is significantly higher than BOEG's -10.46% return.
IONL
- 1D
- -2.31%
- 1M
- -24.66%
- YTD
- -1.24%
- 6M
- -25.60%
- 1Y
- -28.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BOEG
- 1D
- -3.65%
- 1M
- -3.95%
- YTD
- -10.46%
- 6M
- -10.54%
- 1Y
- -7.01%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IONL vs. BOEG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IONL GraniteShares 2x Long IONQ Daily ETF | -1.24% | -19.85% |
BOEG Leverage Shares 2X Long BA Daily ETF | -10.46% | 6.85% |
Correlation
The correlation between IONL and BOEG is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2025 | 0.24 |
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Return for Risk
IONL vs. BOEG — Risk / Return Rank
IONL
BOEG
IONL vs. BOEG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long IONQ Daily ETF (IONL) and Leverage Shares 2X Long BA Daily ETF (BOEG). 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.
| IONL | BOEG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.04 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.31 | -0.15 | -0.16 |
| Martin ratioReturn relative to average drawdown | -0.45 | -0.30 | -0.15 |
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Drawdowns
IONL vs. BOEG - Drawdown Comparison
The maximum IONL drawdown since its inception was -93.41%, which is greater than BOEG's maximum drawdown of -46.47%. Use the drawdown chart below to compare losses from any high point for IONL and BOEG.
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Drawdown Indicators
| IONL | BOEG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.41% | -46.47% | -46.94% |
Max Drawdown (1Y)Largest decline over 1 year | -93.41% | -46.47% | -46.94% |
Current DrawdownCurrent decline from peak | -76.88% | -32.78% | -44.10% |
Average DrawdownAverage peak-to-trough decline | -51.02% | -19.57% | -31.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 64.33% | 23.48% | +40.85% |
Volatility
IONL vs. BOEG - Volatility Comparison
GraniteShares 2x Long IONQ Daily ETF (IONL) has a higher volatility of 57.44% compared to Leverage Shares 2X Long BA Daily ETF (BOEG) at 21.62%. This indicates that IONL's price experiences larger fluctuations and is considered to be riskier than BOEG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IONL | BOEG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 57.44% | 21.62% | +35.82% |
Volatility (6M)Calculated over the trailing 6-month period | 134.01% | 47.16% | +86.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 186.14% | 64.36% | +121.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 195.72% | 64.05% | +131.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 195.72% | 64.05% | +131.67% |
IONL vs. BOEG - Expense Ratio Comparison
IONL has a 1.50% expense ratio, which is higher than BOEG's 0.75% expense ratio.
Dividends
IONL vs. BOEG - Dividend Comparison
Neither IONL nor BOEG has paid dividends to shareholders.
Frequently Asked Questions
IONL and BOEG have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IONL has higher volatility (57.44%) compared to BOEG (21.62%). In terms of maximum drawdown, IONL dropped -93.41% vs BOEG's -46.47%.
On 1-year performance, BOEG leads with -7.01% vs -28.77% for IONL. On fees, BOEG is cheaper at 0.75% per year. On volatility, BOEG has been the lower-risk option at 21.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BOEG has performed better with a -7.01% return vs -28.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BOEG is cheaper with a 0.75% expense ratio, compared with 1.50% for IONL.
IONL and BOEG have nearly identical dividend yields, around 0.00%.
They also come from different issuers: GraniteShares and Leverage Shares. Their fees differ too: 1.50% for IONL and 0.75% for BOEG.
BOEG currently has the higher Sharpe Ratio (-0.11 vs -0.16), 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.
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