IONZ vs. JEDI
IONZ (Defiance Daily Target 2X Short IONQ ETF) and JEDI (Defiance Drone and Modern Warfare ETF) are both exchange-traded funds - IONZ is a Inverse Equities fund actively managed by Defiance, while JEDI is a Aerospace & Defense fund tracking the BITA Drone & Modern Warfare Select Index. IONZ is actively managed, while JEDI is passively managed. At a correlation of -0.60, they often move in opposite directions. IONZ charges 1.29%/yr vs 0.69%/yr for JEDI.
Performance
IONZ vs. JEDI - Performance Comparison
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Returns By Period
In the year-to-date period, IONZ achieves a -76.00% return, which is significantly lower than JEDI's -4.33% return.
IONZ
- 1D
- 12.86%
- 1M
- 116.73%
- 6M
- -71.26%
- YTD
- -76.00%
- 1Y
- -94.12%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
JEDI
- 1D
- -6.45%
- 1M
- -24.78%
- 6M
- -21.69%
- YTD
- -4.33%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IONZ vs. JEDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IONZ Defiance Daily Target 2X Short IONQ ETF | -76.00% | -8.07% |
JEDI Defiance Drone and Modern Warfare ETF | -4.33% | -3.42% |
Correlation
The correlation between IONZ and JEDI is -0.60, 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 Sep 26, 2025 | -0.60 |
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Return for Risk
IONZ vs. JEDI — Risk / Return Rank
IONZ
JEDI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IONZ vs. JEDI - 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 Drone and Modern Warfare ETF (JEDI). 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 | JEDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.92 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | — | — |
| Martin ratioReturn relative to average drawdown | -1.20 | — | — |
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Drawdowns
IONZ vs. JEDI - Drawdown Comparison
The maximum IONZ drawdown since its inception was -98.66%, which is greater than JEDI's maximum drawdown of -45.26%. Use the drawdown chart below to compare losses from any high point for IONZ and JEDI.
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Drawdown Indicators
| IONZ | JEDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.66% | -45.26% | -53.40% |
Max Drawdown (1Y)Largest decline over 1 year | -98.41% | — | — |
Current DrawdownCurrent decline from peak | -96.05% | -45.26% | -50.79% |
Average DrawdownAverage peak-to-trough decline | -75.45% | -12.33% | -63.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 78.56% | — | — |
Volatility
IONZ vs. JEDI - Volatility Comparison
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Volatility by Period
| IONZ | JEDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 40.37% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 155.08% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 186.72% | 52.37% | +134.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 185.79% | 52.37% | +133.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 185.79% | 52.37% | +133.42% |
IONZ vs. JEDI - Expense Ratio Comparison
IONZ has a 1.29% expense ratio, which is higher than JEDI's 0.69% expense ratio.
Dividends
IONZ vs. JEDI - Dividend Comparison
Neither IONZ nor JEDI has paid dividends to shareholders.
Frequently Asked Questions
IONZ and JEDI have a correlation of -0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JEDI is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JEDI is cheaper with a 0.69% expense ratio, compared with 1.29% for IONZ.
IONZ and JEDI have nearly identical dividend yields, around 0.00%.
IONZ is categorized as Inverse Equities, while JEDI is Aerospace & Defense. Their fees differ too: 1.29% for IONZ and 0.69% for JEDI.
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