IONZ vs. ZIVB

Last updated Jun 26, 2026

IONZ (Defiance Daily Target 2X Short IONQ ETF) and ZIVB (-1x Short VIX Mid-Term Futures Strategy ETF) are both Inverse Equities funds. At a correlation of -0.22, they often move in opposite directions. IONZ charges 1.29%/yr vs 1.35%/yr for ZIVB.

Performance

IONZ vs. ZIVB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Short IONQ ETF (IONZ) and -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IONZ

• 1D: 11.28%
• 1M: 22.82%
• YTD: -86.94%
• 6M: -84.33%
• 1Y: -97.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZIVB

• 1D: 0.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IONZ vs. ZIVB - Yearly Performance Comparison

	2026 (YTD)
IONZ Defiance Daily Target 2X Short IONQ ETF	29.82%
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	33.28%

Correlation

The correlation between IONZ and ZIVB is -0.22, 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 May 28, 2026	-0.22

Return for Risk

IONZ vs. ZIVB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IONZ

IONZ Risk / Return Rank: 3
IONZ Sharpe Ratio Rank: 5
IONZ Sortino Ratio Rank: 3
IONZ Omega Ratio Rank: 2
IONZ Calmar Ratio Rank: 0
IONZ Martin Ratio Rank: 3

ZIVB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IONZ vs. ZIVB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short IONQ ETF (IONZ) and -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB). 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	ZIVB	Difference
Sharpe ratio: Return per unit of total volatility	-0.52	—	—
Sortino ratio: Return per unit of downside risk	-1.30	—	—
Omega ratio: Gain probability vs. loss probability	0.84	—	—
Calmar ratio: Return relative to maximum drawdown	-0.99	—	—
Martin ratio: Return relative to average drawdown	-1.28	—	—

Drawdowns

IONZ vs. ZIVB - Drawdown Comparison

The maximum IONZ drawdown since its inception was -98.66%, which is greater than ZIVB's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for IONZ and ZIVB.

Drawdown Indicators

	IONZ	ZIVB	Difference
Max Drawdown Largest peak-to-trough decline	-98.66%	0.00%	-98.66%
Max Drawdown (1Y) Largest decline over 1 year	-98.48%	—	—
Current Drawdown Current decline from peak	-97.85%	0.00%	-97.85%
Average Drawdown Average peak-to-trough decline	-74.23%	0.00%	-74.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	78.39%	—	—

Volatility

Volatility by Period

	IONZ	ZIVB	Difference
Volatility (1M) Calculated over the trailing 1-month period	53.81%	—	—
Volatility (6M) Calculated over the trailing 6-month period	152.53%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	187.36%	106.85%	+80.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	187.10%	106.85%	+80.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	187.10%	106.85%	+80.25%

IONZ vs. ZIVB - Expense Ratio Comparison

IONZ has a 1.29% expense ratio, which is lower than ZIVB's 1.35% expense ratio.

Dividends

IONZ vs. ZIVB - Dividend Comparison

IONZ has not paid dividends to shareholders, while ZIVB's dividend yield for the trailing twelve months is around 2.37%.

Position	TTM
IONZ Defiance Daily Target 2X Short IONQ ETF	0.00%
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	2.37%

Frequently Asked Questions

Can I hold both IONZ and ZIVB in my portfolio?

IONZ and ZIVB have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IONZ or ZIVB?

On fees, IONZ is cheaper at 1.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IONZ or ZIVB?

IONZ is cheaper with a 1.29% expense ratio, compared with 1.35% for ZIVB.

Which ETF pays a higher dividend yield, IONZ or ZIVB?

ZIVB has the higher dividend yield at 2.37%, compared with 0.00% for IONZ.

What is the main difference between IONZ and ZIVB?

They also come from different issuers: Defiance and Volatility Shares. Their fees differ too: 1.29% for IONZ and 1.35% for ZIVB.