IONL vs. IBTH
IONL (GraniteShares 2x Long IONQ Daily ETF) and IBTH (iShares iBonds Dec 2027 Term Treasury ETF) are both exchange-traded funds - IONL is a Leveraged Equities fund tracking the IonQ Inc. (IONQ), while IBTH is a Government Bonds fund tracking the ICE 2027 Maturity US Treasury Index. Both are passively managed. Over the past year, IONL returned 11.24% vs 3.93% for IBTH. At a correlation of -0.14, they often move in opposite directions. IONL charges 1.50%/yr vs 0.07%/yr for IBTH.
Performance
IONL vs. IBTH - Performance Comparison
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Returns By Period
In the year-to-date period, IONL achieves a 48.62% return, which is significantly higher than IBTH's 0.92% return.
IONL
- 1D
- -8.47%
- 1M
- 99.80%
- YTD
- 48.62%
- 6M
- 17.16%
- 1Y
- 11.24%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBTH
- 1D
- -0.02%
- 1M
- 0.23%
- YTD
- 0.92%
- 6M
- 1.26%
- 1Y
- 3.93%
- 3Y*
- 3.92%
- 5Y*
- 0.47%
- 10Y*
- —
IONL vs. IBTH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IONL GraniteShares 2x Long IONQ Daily ETF | 48.62% | 38.57% |
IBTH iShares iBonds Dec 2027 Term Treasury ETF | 0.92% | 3.75% |
Correlation
The correlation between IONL and IBTH is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025 | -0.14 |
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Return for Risk
IONL vs. IBTH — Risk / Return Rank
IONL
IBTH
IONL vs. IBTH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long IONQ Daily ETF (IONL) and iShares iBonds Dec 2027 Term Treasury ETF (IBTH). 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 | IBTH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.51 | ||
| Sortino ratioReturn per unit of downside risk | -5.08 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.93 | -0.76 |
| Calmar ratioReturn relative to maximum drawdown | 0.12 | 10.34 | -10.22 |
| Martin ratioReturn relative to average drawdown | 0.18 | 40.10 | -39.92 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IONL | IBTH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.06 | 3.57 | -3.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.11 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.15 | +0.28 |
Drawdowns
IONL vs. IBTH - Drawdown Comparison
The maximum IONL drawdown since its inception was -93.41%, which is greater than IBTH's maximum drawdown of -16.16%. Use the drawdown chart below to compare losses from any high point for IONL and IBTH.
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Drawdown Indicators
| IONL | IBTH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.41% | -16.16% | -77.25% |
Max Drawdown (1Y)Largest decline over 1 year | -93.41% | -0.38% | -93.03% |
Max Drawdown (3Y)Largest decline over 3 years | — | -2.10% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.41% | — |
Current DrawdownCurrent decline from peak | -65.21% | -1.36% | -63.85% |
Average DrawdownAverage peak-to-trough decline | -50.11% | -6.72% | -43.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 62.00% | 0.10% | +61.90% |
Volatility
IONL vs. IBTH - Volatility Comparison
GraniteShares 2x Long IONQ Daily ETF (IONL) has a higher volatility of 59.44% compared to iShares iBonds Dec 2027 Term Treasury ETF (IBTH) at 0.18%. This indicates that IONL's price experiences larger fluctuations and is considered to be riskier than IBTH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IONL | IBTH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 59.44% | 0.18% | +59.26% |
Volatility (6M)Calculated over the trailing 6-month period | 130.72% | 0.54% | +130.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 181.66% | 1.11% | +180.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 195.45% | 4.20% | +191.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 195.45% | 4.21% | +191.24% |
IONL vs. IBTH - Expense Ratio Comparison
IONL has a 1.50% expense ratio, which is higher than IBTH's 0.07% expense ratio.
Dividends
IONL vs. IBTH - Dividend Comparison
IONL has not paid dividends to shareholders, while IBTH's dividend yield for the trailing twelve months is around 3.83%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
IBTH iShares iBonds Dec 2027 Term Treasury ETF | 3.83% | 3.92% | 4.04% | 3.61% | 2.00% | 0.77% | 0.50% |
IONL GraniteShares 2x Long IONQ Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IONL and IBTH have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IONL has higher volatility (59.44%) compared to IBTH (0.18%). In terms of maximum drawdown, IONL dropped -93.41% vs IBTH's -16.16%.
On 1-year performance, IONL leads with 11.24% vs 3.93% for IBTH. On fees, IBTH is cheaper at 0.07% per year. On volatility, IBTH has been the lower-risk option at 0.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IONL has performed better with a 11.24% return vs 3.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTH is cheaper with a 0.07% expense ratio, compared with 1.50% for IONL.
IBTH has the higher dividend yield at 3.83%, compared with 0.00% for IONL.
IONL is categorized as Leveraged Equities, while IBTH is Government Bonds. IONL tracks IonQ Inc. (IONQ), while IBTH tracks ICE 2027 Maturity US Treasury Index. They also come from different issuers: GraniteShares and iShares. Their fees differ too: 1.50% for IONL and 0.07% for IBTH.
IBTH currently has the higher Sharpe Ratio (3.57 vs 0.06), 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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