IONX vs. VGUS

Last updated Jun 23, 2026

IONX (Defiance Daily Target 2X Long IONQ ETF) and VGUS (Vanguard Ultra-Short Treasury ETF) are both exchange-traded funds - IONX is a Leveraged Equities fund actively managed by Defiance, while VGUS is a Ultrashort Bond fund tracking the Bloomberg Short Treasury Index. IONX is actively managed, while VGUS is passively managed. Over the past year, IONX returned -32.00% vs 3.86% for VGUS. At a correlation of -0.11, they often move in opposite directions. IONX charges 1.31%/yr vs 0.07%/yr for VGUS.

Performance

IONX vs. VGUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long IONQ ETF (IONX) and Vanguard Ultra-Short Treasury ETF (VGUS). 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 VGUS's 1.59% return.

IONX

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

VGUS

• 1D: 0.01%
• 1M: 0.18%
• YTD: 1.59%
• 6M: 1.69%
• 1Y: 3.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IONX vs. VGUS - Yearly Performance Comparison

	2026 (YTD)	2025
IONX Defiance Daily Target 2X Long IONQ ETF	-3.95%	80.91%
VGUS Vanguard Ultra-Short Treasury ETF	1.59%	3.41%

Correlation

The correlation between IONX and VGUS is -0.09, 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	-0.09
Correlation (All Time) Calculated using the full available price history since Mar 12, 2025	-0.11

Return for Risk

IONX vs. VGUS — 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

VGUS

VGUS Risk / Return Rank: 99
VGUS Sharpe Ratio Rank: 100
VGUS Sortino Ratio Rank: 99
VGUS Omega Ratio Rank: 99
VGUS Calmar Ratio Rank: 99
VGUS Martin Ratio Rank: 100

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. VGUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long IONQ ETF (IONX) and Vanguard Ultra-Short Treasury ETF (VGUS). 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	VGUS	Difference
Sharpe ratio: Return per unit of total volatility	-0.17	11.86	-12.04
Sortino ratio: Return per unit of downside risk	1.10	34.14	-33.04
Omega ratio: Gain probability vs. loss probability	1.12	10.51	-9.39
Calmar ratio: Return relative to maximum drawdown	-0.34	53.22	-53.57
Martin ratio: Return relative to average drawdown	-0.49	402.91	-403.40

IONX vs. VGUS - Sharpe Ratio Comparison

The current IONX Sharpe Ratio is -0.17, which is lower than the VGUS Sharpe Ratio of 11.86. The chart below compares the historical Sharpe Ratios of IONX and VGUS, 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. VGUS - Drawdown Comparison

The maximum IONX drawdown since its inception was -93.75%, which is greater than VGUS's maximum drawdown of -0.07%. Use the drawdown chart below to compare losses from any high point for IONX and VGUS.

Drawdown Indicators

	IONX	VGUS	Difference
Max Drawdown Largest peak-to-trough decline	-93.75%	-0.07%	-93.68%
Max Drawdown (1Y) Largest decline over 1 year	-93.75%	-0.07%	-93.68%
Current Drawdown Current decline from peak	-78.10%	0.00%	-78.10%
Average Drawdown Average peak-to-trough decline	-50.62%	-0.00%	-50.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	64.77%	0.01%	+64.76%

Volatility

IONX vs. VGUS - Volatility Comparison

Defiance Daily Target 2X Long IONQ ETF (IONX) has a higher volatility of 60.94% compared to Vanguard Ultra-Short Treasury ETF (VGUS) at 0.12%. This indicates that IONX's price experiences larger fluctuations and is considered to be riskier than VGUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IONX	VGUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	60.94%	0.12%	+60.82%
Volatility (6M) Calculated over the trailing 6-month period	133.89%	0.18%	+133.71%
Volatility (1Y) Calculated over the trailing 1-year period	186.18%	0.33%	+185.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	199.51%	0.34%	+199.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	199.51%	0.34%	+199.17%

IONX vs. VGUS - Expense Ratio Comparison

IONX has a 1.31% expense ratio, which is higher than VGUS's 0.07% expense ratio.

Dividends

IONX vs. VGUS - Dividend Comparison

IONX's dividend yield for the trailing twelve months is around 2.65%, less than VGUS's 3.60% yield.

Position	TTM	2025
IONX Defiance Daily Target 2X Long IONQ ETF	2.65%	2.55%
VGUS Vanguard Ultra-Short Treasury ETF	3.60%	3.12%

Frequently Asked Questions

Can I hold both IONX and VGUS in my portfolio?

IONX and VGUS have a correlation of -0.09, 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 VGUS?

IONX has higher volatility (60.94%) compared to VGUS (0.12%). In terms of maximum drawdown, IONX dropped -93.75% vs VGUS's -0.07%.

Which ETF is better, IONX or VGUS?

On 1-year performance, VGUS leads with 3.86% vs -32.00% for IONX. On fees, VGUS is cheaper at 0.07% per year. On volatility, VGUS has been the lower-risk option at 0.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IONX or VGUS?

Over the 1-year period, VGUS has performed better with a 3.86% 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 VGUS?

VGUS is cheaper with a 0.07% expense ratio, compared with 1.31% for IONX.

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

VGUS has the higher dividend yield at 3.60%, compared with 2.65% for IONX.

What is the main difference between IONX and VGUS?

IONX is categorized as Leveraged Equities, while VGUS is Ultrashort Bond. They also come from different issuers: Defiance and Vanguard. Their fees differ too: 1.31% for IONX and 0.07% for VGUS.

Which has better risk-adjusted returns?

VGUS currently has the higher Sharpe Ratio (11.86 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.