LNOK vs. BIDG

Last updated Jul 18, 2026

LNOK (Defiance Daily Target 2X Long NOK ETF) and BIDG (Leverage Shares 2X Long BIDU Daily ETF) are both Leveraged Equities funds. LNOK is actively managed, while BIDG is passively managed. At a 0.12 correlation, their price movements are largely independent. LNOK charges 1.31%/yr vs 0.75%/yr for BIDG.

Performance

LNOK vs. BIDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long NOK ETF (LNOK) and Leverage Shares 2X Long BIDU Daily ETF (BIDG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

LNOK

• 1D: -5.74%
• 1M: -50.10%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BIDG

• 1D: -10.13%
• 1M: -10.18%
• 6M: -56.58%
• YTD: -44.85%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LNOK vs. BIDG - Yearly Performance Comparison

	2026 (YTD)
LNOK Defiance Daily Target 2X Long NOK ETF	78.63%
BIDG Leverage Shares 2X Long BIDU Daily ETF	-56.90%

Correlation

The correlation between LNOK and BIDG is 0.12, 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 Jan 21, 2026	0.12

Return for Risk

LNOK vs. BIDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long NOK ETF (LNOK) and Leverage Shares 2X Long BIDU Daily ETF (BIDG). 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.

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

Drawdowns

LNOK vs. BIDG - Drawdown Comparison

The maximum LNOK drawdown since its inception was -67.95%, roughly equal to the maximum BIDG drawdown of -64.84%. Use the drawdown chart below to compare losses from any high point for LNOK and BIDG.

Drawdown Indicators

	LNOK	BIDG	Difference
Max Drawdown Largest peak-to-trough decline	-67.95%	-64.84%	-3.11%
Current Drawdown Current decline from peak	-67.95%	-63.30%	-4.65%
Average Drawdown Average peak-to-trough decline	-14.27%	-37.28%	+23.01%

Volatility

Volatility by Period

	LNOK	BIDG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	135.17%	103.43%	+31.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	135.17%	103.43%	+31.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	135.17%	103.43%	+31.74%

LNOK vs. BIDG - Expense Ratio Comparison

LNOK has a 1.31% expense ratio, which is higher than BIDG's 0.75% expense ratio.

Dividends

LNOK vs. BIDG - Dividend Comparison

Neither LNOK nor BIDG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both LNOK and BIDG in my portfolio?

LNOK and BIDG have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LNOK or BIDG?

On fees, BIDG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LNOK or BIDG?

BIDG is cheaper with a 0.75% expense ratio, compared with 1.31% for LNOK.

Which ETF pays a higher dividend yield, LNOK or BIDG?

LNOK and BIDG have nearly identical dividend yields, around 0.00%.

What is the main difference between LNOK and BIDG?

They also come from different issuers: Defiance and Leverage Shares. Their fees differ too: 1.31% for LNOK and 0.75% for BIDG.