IZRL vs. MOON

Last updated Jun 23, 2026

IZRL (ARK Israel Innovative Technology ETF) and MOON (Direxion Moonshot Innovators ETF) are both Technology Equities funds - IZRL tracks the ARK Israeli Innovation Index while MOON tracks the S&P Kensho Moonshots Index. Both are passively managed. At a correlation of -0.19, they often move in opposite directions. IZRL charges 0.49%/yr vs 0.65%/yr for MOON.

Performance

IZRL vs. MOON - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ARK Israel Innovative Technology ETF (IZRL) and Direxion Moonshot Innovators ETF (MOON). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IZRL

• 1D: -1.61%
• 1M: -5.85%
• YTD: -1.91%
• 6M: -1.00%
• 1Y: 19.76%
• 3Y*: 17.64%
• 5Y*: -1.01%
• 10Y*: —

MOON

• 1D: -5.49%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IZRL vs. MOON - Yearly Performance Comparison

	2026 (YTD)
IZRL ARK Israel Innovative Technology ETF	-0.78%
MOON Direxion Moonshot Innovators ETF	-15.19%

Correlation

The correlation between IZRL and MOON is -0.19, 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 8, 2026	-0.19

IZRL vs. MOON - Sectors Allocation Comparison

Sectors	IZRL	MOON
Technology	36.7%	42.4%
Healthcare	14.9%	23.5%
Communication Services	10.8%	9.3%
Financial Services	5.1%	4.2%
Industrials	3.2%	7.5%
Consumer Cyclical	2.0%	11.9%
Consumer Defensive	1.8%	-
Basic Materials	-	1.2%
Energy	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

IZRL vs. MOON — Risk / Return Rank

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

IZRL

IZRL Risk / Return Rank: 24
IZRL Sharpe Ratio Rank: 25
IZRL Sortino Ratio Rank: 25
IZRL Omega Ratio Rank: 23
IZRL Calmar Ratio Rank: 24
IZRL Martin Ratio Rank: 24

MOON

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.

IZRL vs. MOON - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ARK Israel Innovative Technology ETF (IZRL) and Direxion Moonshot Innovators ETF (MOON). 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.

	IZRL	MOON	Difference
Sharpe ratio: Return per unit of total volatility	0.88	—	—
Sortino ratio: Return per unit of downside risk	1.36	—	—
Omega ratio: Gain probability vs. loss probability	1.16	—	—
Calmar ratio: Return relative to maximum drawdown	1.09	—	—
Martin ratio: Return relative to average drawdown	3.06	—	—

Drawdowns

IZRL vs. MOON - Drawdown Comparison

The maximum IZRL drawdown since its inception was -59.98%, which is greater than MOON's maximum drawdown of -15.19%. Use the drawdown chart below to compare losses from any high point for IZRL and MOON.

Drawdown Indicators

	IZRL	MOON	Difference
Max Drawdown Largest peak-to-trough decline	-59.98%	-15.19%	-44.79%
Max Drawdown (1Y) Largest decline over 1 year	-18.27%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-24.60%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-53.21%	—	—
Current Drawdown Current decline from peak	-20.29%	-15.19%	-5.10%
Average Drawdown Average peak-to-trough decline	-25.72%	-10.52%	-15.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.47%	—	—

Volatility

Volatility by Period

	IZRL	MOON	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.32%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.82%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	22.54%	13.68%	+8.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.49%	13.68%	+10.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.92%	13.68%	+11.24%

IZRL vs. MOON - Expense Ratio Comparison

IZRL has a 0.49% expense ratio, which is lower than MOON's 0.65% expense ratio.

Dividends

IZRL vs. MOON - Dividend Comparison

IZRL's dividend yield for the trailing twelve months is around 2.64%, while MOON has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
IZRL ARK Israel Innovative Technology ETF	2.64%	2.59%	0.45%	0.00%	0.00%	0.34%	0.00%	2.15%	3.08%
MOON Direxion Moonshot Innovators ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IZRL and MOON in my portfolio?

IZRL and MOON have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IZRL or MOON?

On fees, IZRL is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IZRL or MOON?

IZRL is cheaper with a 0.49% expense ratio, compared with 0.65% for MOON.

Which ETF pays a higher dividend yield, IZRL or MOON?

IZRL has the higher dividend yield at 2.64%, compared with 0.00% for MOON.

What is the main difference between IZRL and MOON?

IZRL tracks ARK Israeli Innovation Index, while MOON tracks S&P Kensho Moonshots Index. They also come from different issuers: ARK and Direxion. Their fees differ too: 0.49% for IZRL and 0.65% for MOON.