IPAY vs. GOOX

Last updated Aug 4, 2026

IPAY (ETFMG Prime Mobile Payments ETF) and GOOX (T-Rex 2X Long Alphabet Daily Target ETF) are both exchange-traded funds - IPAY is a Technology Equities fund tracking the Prime Mobile Payments Index, while GOOX is a Leveraged Equities fund actively managed by T-Rex. IPAY is passively managed, while GOOX is actively managed. Over the past year, IPAY returned -9.51% vs 213.88% for GOOX. Their 0.39 correlation means their historical movements had little consistent relationship. IPAY charges 0.75%/yr vs 1.05%/yr for GOOX.

Performance

IPAY vs. GOOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETFMG Prime Mobile Payments ETF (IPAY) and T-Rex 2X Long Alphabet Daily Target ETF (GOOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IPAY achieves a -2.46% return, which is significantly lower than GOOX's 24.05% return.

IPAY

• 1D: 1.56%
• 1M: 4.88%
• 6M: 3.61%
• YTD: -2.46%
• 1Y: -9.51%
• 3Y*: 6.01%
• 5Y*: -5.73%
• 10Y*: 7.66%
• ALL TIME*: 6.67%

GOOX

• 1D: 8.51%
• 1M: 6.14%
• 6M: 3.76%
• YTD: 24.05%
• 1Y: 213.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 71.25%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GOOX T-Rex 2X Long Alphabet Daily Target ETF	$9.21M	$7.02M	$7.62M
IPAY ETFMG Prime Mobile Payments ETF	$3.69M	$3.96M	$2.49M

IPAY vs. GOOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IPAY ETFMG Prime Mobile Payments ETF	-2.46%	-9.55%	27.95%
GOOX T-Rex 2X Long Alphabet Daily Target ETF	24.05%	121.41%	44.31%

Correlation

The correlation between IPAY and GOOX is 0.34, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.34
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.39

Return for Risk

IPAY vs. GOOX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IPAY

IPAY Risk / Return Rank: 7
IPAY Sharpe Ratio Rank: 6
IPAY Sortino Ratio Rank: 6
IPAY Omega Ratio Rank: 6
IPAY Calmar Ratio Rank: 7
IPAY Martin Ratio Rank: 8

GOOX

GOOX Risk / Return Rank: 93
GOOX Sharpe Ratio Rank: 97
GOOX Sortino Ratio Rank: 94
GOOX Omega Ratio Rank: 92
GOOX Calmar Ratio Rank: 95
GOOX Martin Ratio Rank: 89

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IPAY vs. GOOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETFMG Prime Mobile Payments ETF (IPAY) and T-Rex 2X Long Alphabet Daily Target ETF (GOOX). 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.

	IPAY	GOOX	Difference
Sharpe ratio: Return per unit of total volatility	-0.39	3.36	-3.75
Sortino ratio: Return per unit of downside risk	-0.37	3.74	-4.11
Omega ratio: Gain probability vs. loss probability	0.95	1.46	-0.50
Calmar ratio: Return relative to maximum drawdown	-0.31	5.52	-5.83
Martin ratio: Return relative to average drawdown	-0.52	14.22	-14.75

IPAY vs. GOOX - Sharpe Ratio Comparison

The current IPAY Sharpe Ratio is -0.39, which is lower than the GOOX Sharpe Ratio of 3.36. The chart below compares the historical Sharpe Ratios of IPAY and GOOX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IPAY vs. GOOX - Drawdown Comparison

The maximum IPAY drawdown since its inception was -51.75%, roughly equal to the maximum GOOX drawdown of -52.46%. Use the drawdown chart below to compare losses from any high point for IPAY and GOOX.

Drawdown Indicators

	IPAY	GOOX	Difference
Max Drawdown Largest peak-to-trough decline	-51.75%	-52.46%	+0.71%
Max Drawdown (1Y) Largest decline over 1 year	-30.88%	-39.00%	+8.12%
Max Drawdown (3Y) Largest decline over 3 years	-32.74%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-51.49%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-51.75%	—	—
Current Drawdown Current decline from peak	-29.38%	-17.55%	-11.83%
Average Drawdown Average peak-to-trough decline	-16.93%	-17.47%	+0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.21%	15.11%	+3.10%

Volatility

IPAY vs. GOOX - Volatility Comparison

The current volatility for ETFMG Prime Mobile Payments ETF (IPAY) is 7.11%, while T-Rex 2X Long Alphabet Daily Target ETF (GOOX) has a volatility of 27.63%. This indicates that IPAY experiences smaller price fluctuations and is considered to be less risky than GOOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPAY	GOOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.11%	27.63%	-20.52%
Volatility (6M) Calculated over the trailing 6-month period	19.94%	49.57%	-29.63%
Volatility (1Y) Calculated over the trailing 1-year period	24.73%	64.16%	-39.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.33%	61.98%	-35.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.43%	61.98%	-36.55%

IPAY vs. GOOX - Expense Ratio Comparison

IPAY has a 0.75% expense ratio, which is lower than GOOX's 1.05% expense ratio.

Dividends

IPAY vs. GOOX - Dividend Comparison

IPAY's dividend yield for the trailing twelve months is around 0.81%, more than GOOX's 0.25% yield.

Position	TTM	2025	2024
GOOX T-Rex 2X Long Alphabet Daily Target ETF	0.25%	0.30%	16.78%
IPAY ETFMG Prime Mobile Payments ETF	0.81%	0.79%	0.77%

Frequently Asked Questions

Can I hold both IPAY and GOOX in my portfolio?

IPAY and GOOX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IPAY or GOOX?

GOOX has higher volatility (27.63%) compared to IPAY (7.11%). In terms of maximum drawdown, IPAY dropped -51.75% vs GOOX's -52.46%.

Which ETF is better, IPAY or GOOX?

On 1-year performance, GOOX leads with 213.88% vs -9.51% for IPAY. On fees, IPAY is cheaper at 0.75% per year. On volatility, IPAY has been the lower-risk option at 7.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IPAY or GOOX?

Over the 1-year period, GOOX has performed better with a 213.88% return vs -9.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IPAY or GOOX?

IPAY is cheaper with a 0.75% expense ratio, compared with 1.05% for GOOX.

Which ETF pays a higher dividend yield, IPAY or GOOX?

IPAY has the higher dividend yield at 0.81%, compared with 0.25% for GOOX.

What is the main difference between IPAY and GOOX?

IPAY is categorized as Technology Equities, while GOOX is Leveraged Equities. They also come from different issuers: ETFMG and T-Rex. Their fees differ too: 0.75% for IPAY and 1.05% for GOOX.

Which has better risk-adjusted returns?

GOOX currently has the higher Sharpe Ratio (3.36 vs -0.39), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.