IONZ vs. GLDY
IONZ (Defiance Daily Target 2X Short IONQ ETF) and GLDY (Defiance Gold Enhanced Options Income ETF) are both exchange-traded funds - IONZ is a Inverse Equities fund managed by Defiance, while GLDY is a Derivative Income fund actively managed by Defiance. At a correlation of -0.13, they often move in opposite directions. IONZ charges 1.29%/yr vs 0.99%/yr for GLDY.
Performance
IONZ vs. GLDY - Performance Comparison
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Returns By Period
In the year-to-date period, IONZ achieves a -87.96% return, which is significantly lower than GLDY's -5.06% return.
IONZ
- 1D
- 26.98%
- 1M
- -40.91%
- YTD
- -87.96%
- 6M
- -86.30%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GLDY
- 1D
- -3.20%
- 1M
- -6.81%
- YTD
- -5.06%
- 6M
- -3.13%
- 1Y
- 10.32%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IONZ vs. GLDY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IONZ Defiance Daily Target 2X Short IONQ ETF | -87.96% | -81.41% |
GLDY Defiance Gold Enhanced Options Income ETF | -5.06% | 15.24% |
Correlation
The correlation between IONZ and GLDY is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025 | -0.13 |
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Return for Risk
IONZ vs. GLDY — Risk / Return Rank
IONZ
GLDY
IONZ vs. GLDY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short IONQ ETF (IONZ) and Defiance Gold Enhanced Options Income ETF (GLDY). 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.
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Sharpe Ratios by Period
| IONZ | GLDY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 0.52 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.52 | 0.41 | -0.94 |
Drawdowns
IONZ vs. GLDY - Drawdown Comparison
The maximum IONZ drawdown since its inception was -98.66%, which is greater than GLDY's maximum drawdown of -15.57%. Use the drawdown chart below to compare losses from any high point for IONZ and GLDY.
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Drawdown Indicators
| IONZ | GLDY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.66% | -15.57% | -83.09% |
Max Drawdown (1Y)Largest decline over 1 year | — | -15.57% | — |
Current DrawdownCurrent decline from peak | -98.02% | -15.57% | -82.45% |
Average DrawdownAverage peak-to-trough decline | -73.24% | -3.98% | -69.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 5.75% | — |
Volatility
IONZ vs. GLDY - Volatility Comparison
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Volatility by Period
| IONZ | GLDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.94% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 18.56% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 187.62% | 20.12% | +167.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 187.62% | 19.75% | +167.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 187.62% | 19.75% | +167.87% |
IONZ vs. GLDY - Expense Ratio Comparison
IONZ has a 1.29% expense ratio, which is higher than GLDY's 0.99% expense ratio.
Dividends
IONZ vs. GLDY - Dividend Comparison
IONZ has not paid dividends to shareholders, while GLDY's dividend yield for the trailing twelve months is around 48.65%.
| Position | TTM | 2025 |
|---|---|---|
GLDY Defiance Gold Enhanced Options Income ETF | 48.65% | 37.38% |
IONZ Defiance Daily Target 2X Short IONQ ETF | 0.00% | 0.00% |
Frequently Asked Questions
IONZ and GLDY have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLDY is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLDY is cheaper with a 0.99% expense ratio, compared with 1.29% for IONZ.
GLDY has the higher dividend yield at 48.65%, compared with 0.00% for IONZ.
IONZ is categorized as Inverse Equities, while GLDY is Derivative Income. Their fees differ too: 1.29% for IONZ and 0.99% for GLDY.
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