IONX vs. FTEC

Last updated Jun 23, 2026

IONX (Defiance Daily Target 2X Long IONQ ETF) and FTEC (Fidelity MSCI Information Technology Index ETF) are both exchange-traded funds - IONX is a Leveraged Equities fund actively managed by Defiance, while FTEC is a Technology Equities fund tracking the MSCI USA IMI Information Technology 25/50 Index. IONX is actively managed, while FTEC is passively managed. Over the past year, IONX returned -32.00% vs 54.89% for FTEC. A 0.52 correlation means they provide meaningful diversification when combined. IONX charges 1.31%/yr vs 0.08%/yr for FTEC.

Performance

IONX vs. FTEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long IONQ ETF (IONX) and Fidelity MSCI Information Technology Index ETF (FTEC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IONX achieves a -3.95% return, which is significantly lower than FTEC's 28.31% return.

IONX

• 1D: 6.60%
• 1M: -23.74%
• YTD: -3.95%
• 6M: -34.32%
• 1Y: -32.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FTEC

• 1D: 0.40%
• 1M: 4.21%
• YTD: 28.31%
• 6M: 27.06%
• 1Y: 54.89%
• 3Y*: 32.23%
• 5Y*: 20.85%
• 10Y*: 25.75%

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

IONX vs. FTEC - Yearly Performance Comparison

	2026 (YTD)	2025
IONX Defiance Daily Target 2X Long IONQ ETF	-3.95%	80.91%
FTEC Fidelity MSCI Information Technology Index ETF	28.31%	38.40%

Correlation

The correlation between IONX and FTEC is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (All Time) Calculated using the full available price history since Mar 12, 2025	0.52

The correlation between IONX and FTEC has been stable across timeframes, ranging from 0.47 to 0.52 - a consistent structural relationship.

IONX vs. FTEC - Sectors Allocation Comparison

Sectors	IONX	FTEC
Technology	100.0%	98.3%
Basic Materials	-	0.0%
Communication Services	-	0.0%
Consumer Cyclical	-	0.0%
Consumer Defensive	-	-
Energy	-	0.3%
Financial Services	-	0.6%
Healthcare	-	-
Industrials	-	0.6%
Real Estate	-	-
Utilities	-	-

Return for Risk

IONX vs. FTEC — Risk / Return Rank

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

IONX

IONX Risk / Return Rank: 12
IONX Sharpe Ratio Rank: 7
IONX Sortino Ratio Rank: 20
IONX Omega Ratio Rank: 18
IONX Calmar Ratio Rank: 6
IONX Martin Ratio Rank: 6

FTEC

FTEC Risk / Return Rank: 70
FTEC Sharpe Ratio Rank: 80
FTEC Sortino Ratio Rank: 69
FTEC Omega Ratio Rank: 71
FTEC Calmar Ratio Rank: 70
FTEC Martin Ratio Rank: 60

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.

IONX vs. FTEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long IONQ ETF (IONX) and Fidelity MSCI Information Technology Index ETF (FTEC). 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.

	IONX	FTEC	Difference
Sharpe ratio: Return per unit of total volatility	-0.17	2.46	-2.63
Sortino ratio: Return per unit of downside risk	1.10	3.02	-1.92
Omega ratio: Gain probability vs. loss probability	1.12	1.40	-0.28
Calmar ratio: Return relative to maximum drawdown	-0.34	3.39	-3.73
Martin ratio: Return relative to average drawdown	-0.49	10.46	-10.96

IONX vs. FTEC - Sharpe Ratio Comparison

The current IONX Sharpe Ratio is -0.17, which is lower than the FTEC Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of IONX and FTEC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IONX vs. FTEC - Drawdown Comparison

The maximum IONX drawdown since its inception was -93.75%, which is greater than FTEC's maximum drawdown of -34.95%. Use the drawdown chart below to compare losses from any high point for IONX and FTEC.

Drawdown Indicators

	IONX	FTEC	Difference
Max Drawdown Largest peak-to-trough decline	-93.75%	-34.95%	-58.80%
Max Drawdown (1Y) Largest decline over 1 year	-93.75%	-16.26%	-77.49%
Max Drawdown (3Y) Largest decline over 3 years	—	-27.30%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.95%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.95%	—
Current Drawdown Current decline from peak	-78.10%	-4.17%	-73.93%
Average Drawdown Average peak-to-trough decline	-50.62%	-5.57%	-45.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	64.77%	5.26%	+59.51%

Volatility

IONX vs. FTEC - Volatility Comparison

Defiance Daily Target 2X Long IONQ ETF (IONX) has a higher volatility of 60.94% compared to Fidelity MSCI Information Technology Index ETF (FTEC) at 10.69%. This indicates that IONX's price experiences larger fluctuations and is considered to be riskier than FTEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IONX	FTEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	60.94%	10.69%	+50.25%
Volatility (6M) Calculated over the trailing 6-month period	133.89%	18.25%	+115.64%
Volatility (1Y) Calculated over the trailing 1-year period	186.18%	22.50%	+163.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	199.51%	25.54%	+173.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	199.51%	24.87%	+174.64%

IONX vs. FTEC - Expense Ratio Comparison

IONX has a 1.31% expense ratio, which is higher than FTEC's 0.08% expense ratio.

Dividends

IONX vs. FTEC - Dividend Comparison

IONX's dividend yield for the trailing twelve months is around 2.65%, more than FTEC's 0.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTEC Fidelity MSCI Information Technology Index ETF	0.35%	0.43%	0.49%	0.77%	0.93%	0.63%	0.83%	1.03%	1.20%	0.96%	1.25%	1.27%
IONX Defiance Daily Target 2X Long IONQ ETF	2.65%	2.55%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IONX and FTEC in my portfolio?

IONX and FTEC have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IONX or FTEC?

IONX has higher volatility (60.94%) compared to FTEC (10.69%). In terms of maximum drawdown, IONX dropped -93.75% vs FTEC's -34.95%.

Which ETF is better, IONX or FTEC?

On 1-year performance, FTEC leads with 54.89% vs -32.00% for IONX. On fees, FTEC is cheaper at 0.08% per year. On volatility, FTEC has been the lower-risk option at 10.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IONX or FTEC?

Over the 1-year period, FTEC has performed better with a 54.89% return vs -32.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IONX or FTEC?

FTEC is cheaper with a 0.08% expense ratio, compared with 1.31% for IONX.

Which ETF pays a higher dividend yield, IONX or FTEC?

IONX has the higher dividend yield at 2.65%, compared with 0.35% for FTEC.

What is the main difference between IONX and FTEC?

IONX is categorized as Leveraged Equities, while FTEC is Technology Equities. They also come from different issuers: Defiance and Fidelity. Their fees differ too: 1.31% for IONX and 0.08% for FTEC.

Which has better risk-adjusted returns?

FTEC currently has the higher Sharpe Ratio (2.46 vs -0.17), 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.