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. 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 -87.96% return, which is significantly lower than CARD's 2.62% return.
IONZ
- 1D
- 26.98%
- 1M
- -40.91%
- YTD
- -87.96%
- 6M
- -86.30%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CARD
- 1D
- 6.19%
- 1M
- -1.41%
- YTD
- 2.62%
- 6M
- 6.48%
- 1Y
- -37.79%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IONZ vs. CARD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IONZ Defiance Daily Target 2X Short IONQ ETF | -87.96% | -81.41% |
CARD Max Auto Industry -3X Inverse Leveraged ETN | 2.62% | -34.52% |
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 (All Time) Calculated using the full available price history since Jun 25, 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
Loading charts...
Sharpe Ratios by Period
| IONZ | CARD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -0.55 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.52 | -0.64 | +0.12 |
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 | — | -49.57% | — |
Current DrawdownCurrent decline from peak | -98.02% | -92.29% | -5.73% |
Average DrawdownAverage peak-to-trough decline | -73.24% | -68.20% | -5.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 34.14% | — |
Volatility
IONZ vs. CARD - Volatility Comparison
Loading charts...
Volatility by Period
| IONZ | CARD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 22.85% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 49.91% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 187.62% | 68.83% | +118.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 187.62% | 80.51% | +107.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 187.62% | 80.51% | +107.11% |
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.
On fees, CARD is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.
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.
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