IONZ vs. NFXS
IONZ (Defiance Daily Target 2X Short IONQ ETF) and NFXS (Direxion Daily NFLX Bear 1X Shares) are both Inverse Equities funds. At a 0.08 correlation, their price movements are largely independent. IONZ charges 1.29%/yr vs 1.03%/yr for NFXS.
Performance
IONZ vs. NFXS - 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 NFXS's 10.42% return.
IONZ
- 1D
- 26.98%
- 1M
- -40.91%
- YTD
- -87.96%
- 6M
- -86.30%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NFXS
- 1D
- -0.76%
- 1M
- 7.36%
- YTD
- 10.42%
- 6M
- 17.80%
- 1Y
- 46.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IONZ vs. NFXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IONZ Defiance Daily Target 2X Short IONQ ETF | -87.96% | -81.41% |
NFXS Direxion Daily NFLX Bear 1X Shares | 10.42% | 34.85% |
Correlation
The correlation between IONZ and NFXS is 0.08, 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 (All Time) Calculated using the full available price history since Jun 25, 2025 | 0.08 |
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Return for Risk
IONZ vs. NFXS — Risk / Return Rank
IONZ
NFXS
IONZ vs. NFXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short IONQ ETF (IONZ) and Direxion Daily NFLX Bear 1X Shares (NFXS). 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 | NFXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.40 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.52 | -0.37 | -0.15 |
Drawdowns
IONZ vs. NFXS - Drawdown Comparison
The maximum IONZ drawdown since its inception was -98.66%, which is greater than NFXS's maximum drawdown of -50.37%. Use the drawdown chart below to compare losses from any high point for IONZ and NFXS.
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Drawdown Indicators
| IONZ | NFXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.66% | -50.37% | -48.29% |
Max Drawdown (1Y)Largest decline over 1 year | — | -31.31% | — |
Current DrawdownCurrent decline from peak | -98.02% | -22.55% | -75.47% |
Average DrawdownAverage peak-to-trough decline | -73.24% | -32.34% | -40.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 11.42% | — |
Volatility
IONZ vs. NFXS - Volatility Comparison
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Volatility by Period
| IONZ | NFXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 6.64% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 25.94% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 187.62% | 33.08% | +154.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 187.62% | 34.61% | +153.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 187.62% | 34.61% | +153.01% |
IONZ vs. NFXS - Expense Ratio Comparison
IONZ has a 1.29% expense ratio, which is higher than NFXS's 1.03% expense ratio.
Dividends
IONZ vs. NFXS - Dividend Comparison
IONZ has not paid dividends to shareholders, while NFXS's dividend yield for the trailing twelve months is around 2.83%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IONZ Defiance Daily Target 2X Short IONQ ETF | 0.00% | 0.00% | 0.00% |
NFXS Direxion Daily NFLX Bear 1X Shares | 2.83% | 3.53% | 0.87% |
Frequently Asked Questions
IONZ and NFXS have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NFXS is cheaper at 1.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NFXS is cheaper with a 1.03% expense ratio, compared with 1.29% for IONZ.
NFXS has the higher dividend yield at 2.83%, compared with 0.00% for IONZ.
They also come from different issuers: Defiance and Direxion. Their fees differ too: 1.29% for IONZ and 1.03% for NFXS.
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