IONZ vs. CARD
IONZ (Defiance Daily Target 2X Short IONQ ETF) and CARD (Max Auto Industry -3X Inverse Leveraged ETN) are both Inverse Equities funds. Over the past year, IONZ returned -97.85% vs -35.50% for CARD. At a 0.38 correlation, their price movements are largely independent. IONZ charges 1.29%/yr vs 0.95%/yr for CARD.
Performance
IONZ vs. CARD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IONZ achieves a -86.94% return, which is significantly lower than CARD's 4.05% return.
IONZ
- 1D
- 11.28%
- 1M
- 22.82%
- YTD
- -86.94%
- 6M
- -84.33%
- 1Y
- -97.85%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CARD
- 1D
- 0.59%
- 1M
- 2.67%
- YTD
- 4.05%
- 6M
- 16.62%
- 1Y
- -35.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IONZ vs. CARD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IONZ Defiance Daily Target 2X Short IONQ ETF | -86.94% | -80.36% |
CARD Max Auto Industry -3X Inverse Leveraged ETN | 4.05% | -34.55% |
Correlation
The correlation between IONZ and CARD is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2025 | 0.38 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IONZ vs. CARD — Risk / Return Rank
IONZ
CARD
IONZ vs. CARD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short IONQ ETF (IONZ) and Max Auto Industry -3X Inverse Leveraged ETN (CARD). 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.
| IONZ | CARD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.96 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | -0.77 | -0.22 |
| Martin ratioReturn relative to average drawdown | -1.28 | -1.14 | -0.15 |
Loading charts...
Drawdowns
IONZ vs. CARD - Drawdown Comparison
The maximum IONZ drawdown since its inception was -98.66%, which is greater than CARD's maximum drawdown of -93.51%. Use the drawdown chart below to compare losses from any high point for IONZ and CARD.
Loading charts...
Drawdown Indicators
| IONZ | CARD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.66% | -93.51% | -5.15% |
Max Drawdown (1Y)Largest decline over 1 year | -98.48% | -46.11% | -52.37% |
Current DrawdownCurrent decline from peak | -97.85% | -92.18% | -5.67% |
Average DrawdownAverage peak-to-trough decline | -74.23% | -68.77% | -5.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 78.39% | 31.66% | +46.73% |
Volatility
IONZ vs. CARD - Volatility Comparison
Defiance Daily Target 2X Short IONQ ETF (IONZ) has a higher volatility of 53.81% compared to Max Auto Industry -3X Inverse Leveraged ETN (CARD) at 23.66%. This indicates that IONZ's price experiences larger fluctuations and is considered to be riskier than CARD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IONZ | CARD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 53.81% | 23.66% | +30.15% |
Volatility (6M)Calculated over the trailing 6-month period | 152.53% | 52.57% | +99.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 187.36% | 70.15% | +117.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 187.10% | 80.64% | +106.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 187.10% | 80.64% | +106.46% |
IONZ vs. CARD - Expense Ratio Comparison
IONZ has a 1.29% expense ratio, which is higher than CARD's 0.95% expense ratio.
Dividends
IONZ vs. CARD - Dividend Comparison
Neither IONZ nor CARD has paid dividends to shareholders.
Frequently Asked Questions
IONZ and CARD have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IONZ has higher volatility (53.81%) compared to CARD (23.66%). In terms of maximum drawdown, IONZ dropped -98.66% vs CARD's -93.51%.
On 1-year performance, CARD leads with -35.50% vs -97.85% for IONZ. On fees, CARD is cheaper at 0.95% per year. On volatility, CARD has been the lower-risk option at 23.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CARD has performed better with a -35.50% return vs -97.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CARD is cheaper with a 0.95% expense ratio, compared with 1.29% for IONZ.
IONZ and CARD have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Defiance and Max. Their fees differ too: 1.29% for IONZ and 0.95% for CARD.
CARD currently has the higher Sharpe Ratio (-0.51 vs -0.52), 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.
Find the right allocation for IONZ and CARD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer