IONL vs. FUTG

Last updated Jun 5, 2026

IONL (GraniteShares 2x Long IONQ Daily ETF) and FUTG (Leverage Shares 2X Long FUTU Daily ETF) are both Leveraged Equities funds. IONL is passively managed, while FUTG is actively managed. At a 0.41 correlation, their price movements are largely independent. IONL charges 1.50%/yr vs 0.75%/yr for FUTG.

Performance

IONL vs. FUTG - Performance Comparison

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

Returns By Period

In the year-to-date period, IONL achieves a 37.09% return, which is significantly higher than FUTG's -75.86% return.

IONL

• 1D: -7.76%
• 1M: 68.23%
• YTD: 37.09%
• 6M: -13.21%
• 1Y: 3.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FUTG

• 1D: -1.36%
• 1M: -71.11%
• YTD: -75.86%
• 6M: -77.93%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IONL vs. FUTG - Yearly Performance Comparison

	2026 (YTD)	2025
IONL GraniteShares 2x Long IONQ Daily ETF	37.09%	-74.05%
FUTG Leverage Shares 2X Long FUTU Daily ETF	-75.86%	-0.80%

Correlation

The correlation between IONL and FUTG is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 15, 2025	0.41

Return for Risk

IONL vs. FUTG — Risk / Return Rank

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

IONL

IONL Risk / Return Rank: 16
IONL Sharpe Ratio Rank: 9
IONL Sortino Ratio Rank: 27
IONL Omega Ratio Rank: 25
IONL Calmar Ratio Rank: 10
IONL Martin Ratio Rank: 9

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.

IONL vs. FUTG - 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 FUTU Daily ETF (FUTG). 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.

	IONL	FUTG	Difference
Sharpe ratio: Return per unit of total volatility	0.02	—	—
Sortino ratio: Return per unit of downside risk	1.45	—	—
Omega ratio: Gain probability vs. loss probability	1.16	—	—
Calmar ratio: Return relative to maximum drawdown	0.04	—	—
Martin ratio: Return relative to average drawdown	0.06	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	IONL	FUTG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.02	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	-0.66	+1.03

Drawdowns

IONL vs. FUTG - Drawdown Comparison

The maximum IONL drawdown since its inception was -93.41%, which is greater than FUTG's maximum drawdown of -86.19%. Use the drawdown chart below to compare losses from any high point for IONL and FUTG.

Drawdown Indicators

	IONL	FUTG	Difference
Max Drawdown Largest peak-to-trough decline	-93.41%	-86.19%	-7.22%
Max Drawdown (1Y) Largest decline over 1 year	-93.41%	—	—
Current Drawdown Current decline from peak	-67.91%	-84.51%	+16.60%
Average Drawdown Average peak-to-trough decline	-50.17%	-40.62%	-9.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	62.15%	—	—

Volatility

Volatility by Period

	IONL	FUTG	Difference
Volatility (1M) Calculated over the trailing 1-month period	60.15%	—	—
Volatility (6M) Calculated over the trailing 6-month period	130.98%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	181.81%	135.59%	+46.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	195.29%	135.59%	+59.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	195.29%	135.59%	+59.70%

IONL vs. FUTG - Expense Ratio Comparison

IONL has a 1.50% expense ratio, which is higher than FUTG's 0.75% expense ratio.

Dividends

IONL vs. FUTG - Dividend Comparison

Neither IONL nor FUTG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IONL and FUTG in my portfolio?

IONL and FUTG have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IONL or FUTG?

On fees, FUTG 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, IONL or FUTG?

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

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

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

What is the main difference between IONL and FUTG?

They also come from different issuers: GraniteShares and Leverage Shares. Their fees differ too: 1.50% for IONL and 0.75% for FUTG.