KEEX vs. IWMY

Last updated Jul 1, 2026

KEEX (Defiance Daily Target 2X Long KEEL ETF) and IWMY (Defiance R2000 Enhanced Options & 0DTE Income ETF) are both exchange-traded funds - KEEX is a Leveraged Equities fund actively managed by Defiance, while IWMY is a Options Trading fund tracking the Russell 2000 Index. KEEX is actively managed, while IWMY is passively managed. At a 0.48 correlation, their price movements are largely independent. KEEX charges 1.31%/yr vs 0.99%/yr for IWMY.

Performance

KEEX vs. IWMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long KEEL ETF (KEEX) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

KEEX

• 1D: -2.44%
• 1M: -7.60%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IWMY

• 1D: 0.40%
• 1M: 2.98%
• YTD: 16.42%
• 6M: 15.40%
• 1Y: 22.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KEEX vs. IWMY - Yearly Performance Comparison

	2026 (YTD)
KEEX Defiance Daily Target 2X Long KEEL ETF	161.55%
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	7.36%

Correlation

The correlation between KEEX and IWMY is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 27, 2026	0.48

Return for Risk

KEEX vs. IWMY — Risk / Return Rank

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

KEEX

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

IWMY

IWMY Risk / Return Rank: 43
IWMY Sharpe Ratio Rank: 44
IWMY Sortino Ratio Rank: 41
IWMY Omega Ratio Rank: 41
IWMY Calmar Ratio Rank: 44
IWMY Martin Ratio Rank: 44

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.

KEEX vs. IWMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long KEEL ETF (KEEX) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY). 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.

	KEEX	IWMY	Difference
Sharpe ratio: Return per unit of total volatility	—	1.38	—
Sortino ratio: Return per unit of downside risk	—	1.89	—
Omega ratio: Gain probability vs. loss probability	—	1.24	—
Calmar ratio: Return relative to maximum drawdown	—	1.95	—
Martin ratio: Return relative to average drawdown	—	6.37	—

Drawdowns

KEEX vs. IWMY - Drawdown Comparison

The maximum KEEX drawdown since its inception was -33.20%, which is greater than IWMY's maximum drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for KEEX and IWMY.

Drawdown Indicators

	KEEX	IWMY	Difference
Max Drawdown Largest peak-to-trough decline	-33.20%	-18.72%	-14.48%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.57%	—
Current Drawdown Current decline from peak	-27.13%	0.00%	-27.13%
Average Drawdown Average peak-to-trough decline	-10.81%	-2.92%	-7.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.54%	—

Volatility

Volatility by Period

	KEEX	IWMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.97%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.54%	—
Volatility (1Y) Calculated over the trailing 1-year period	191.26%	16.34%	+174.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	191.26%	15.90%	+175.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	191.26%	15.90%	+175.36%

KEEX vs. IWMY - Expense Ratio Comparison

KEEX has a 1.31% expense ratio, which is higher than IWMY's 0.99% expense ratio.

Dividends

KEEX vs. IWMY - Dividend Comparison

KEEX has not paid dividends to shareholders, while IWMY's dividend yield for the trailing twelve months is around 42.81%.

Position	TTM	2025	2024	2023
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	42.81%	63.33%	107.92%	11.34%
KEEX Defiance Daily Target 2X Long KEEL ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KEEX and IWMY in my portfolio?

KEEX and IWMY have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KEEX or IWMY?

On fees, IWMY is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KEEX or IWMY?

IWMY is cheaper with a 0.99% expense ratio, compared with 1.31% for KEEX.

Which ETF pays a higher dividend yield, KEEX or IWMY?

IWMY has the higher dividend yield at 42.81%, compared with 0.00% for KEEX.

What is the main difference between KEEX and IWMY?

KEEX is categorized as Leveraged Equities, while IWMY is Options Trading. Their fees differ too: 1.31% for KEEX and 0.99% for IWMY.