MAGX vs. IEO
MAGX (Roundhill Daily 2X Long Magnificent Seven ETF) and IEO (iShares U.S. Oil & Gas Exploration & Production ETF) are both exchange-traded funds - MAGX is a Leveraged Equities fund actively managed by Roundhill, while IEO is a Energy Equities fund tracking the Dow Jones U.S. Select Oil Exploration & Production Index. MAGX is actively managed, while IEO is passively managed. Over the past year, MAGX returned 28.07% vs 43.17% for IEO. Their -0.00 correlation means they have often moved in opposite directions in the past. MAGX charges 0.95%/yr vs 0.38%/yr for IEO.
Performance
MAGX vs. IEO - Performance Comparison
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Returns By Period
In the year-to-date period, MAGX achieves a 0.37% return, which is significantly lower than IEO's 39.03% return.
MAGX
- 1D
- 0.95%
- 1M
- 9.92%
- 6M
- 4.52%
- YTD
- 0.37%
- 1Y
- 28.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 41.16%
IEO
- 1D
- -0.91%
- 1M
- 11.27%
- 6M
- 25.75%
- YTD
- 39.03%
- 1Y
- 43.17%
- 3Y*
- 11.67%
- 5Y*
- 23.01%
- 10Y*
- 10.64%
- ALL TIME*
- 6.09%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $8.72M | $7.71M | $8.53M | |
| $3.93M | $4.39M | $4.75M |
MAGX vs. IEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MAGX Roundhill Daily 2X Long Magnificent Seven ETF | 0.37% | 26.16% | 82.41% |
IEO iShares U.S. Oil & Gas Exploration & Production ETF | 39.03% | 2.15% | -3.16% |
Correlation
The correlation between MAGX and IEO is -0.26, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.26 |
Correlation (All Time) Calculated using the full available price history since Feb 29, 2024 | -0.00 |
Over the past year, the inverse relationship between MAGX and IEO has strengthened: their correlation has moved from -0.00 to -0.26, meaning they now move in opposite directions more often than their long-term average.
MAGX vs. IEO - Sectors Allocation Comparison
Sectors
MAGX
IEO
Financial Services
-
Basic Materials
-
Communication Services
-
-
Consumer Cyclical
-
-
Consumer Defensive
-
-
Energy
-
Healthcare
-
-
Industrials
-
Real Estate
-
-
Technology
-
-
Utilities
-
-
Financial Services
MAGX
IEO
-
Basic Materials
MAGX
-
IEO
Communication Services
MAGX
-
IEO
-
Consumer Cyclical
MAGX
-
IEO
-
Consumer Defensive
MAGX
-
IEO
-
Energy
MAGX
-
IEO
Healthcare
MAGX
-
IEO
-
Industrials
MAGX
-
IEO
Real Estate
MAGX
-
IEO
-
Technology
MAGX
-
IEO
-
Utilities
MAGX
-
IEO
-
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Return for Risk
MAGX vs. IEO — Risk / Return Rank
MAGX
IEO
MAGX vs. IEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) and iShares U.S. Oil & Gas Exploration & Production ETF (IEO). 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.
| MAGX | IEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.05 | ||
| Sortino ratioReturn per unit of downside risk | -1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.27 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.76 | 2.66 | -1.90 |
| Martin ratioReturn relative to average drawdown | 2.03 | 6.64 | -4.61 |
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Drawdowns
MAGX vs. IEO - Drawdown Comparison
The maximum MAGX drawdown since its inception was -54.19%, smaller than the maximum IEO drawdown of -79.17%. Use the drawdown chart below to compare losses from any high point for MAGX and IEO.
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Drawdown Indicators
| MAGX | IEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.19% | -79.17% | +24.98% |
Max Drawdown (1Y)Largest decline over 1 year | -37.24% | -16.32% | -20.92% |
Max Drawdown (3Y)Largest decline over 3 years | — | -31.46% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -31.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.00% | — |
Current DrawdownCurrent decline from peak | -8.51% | -4.24% | -4.27% |
Average DrawdownAverage peak-to-trough decline | -13.91% | -26.13% | +12.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.85% | 6.52% | +7.33% |
Volatility
MAGX vs. IEO - Volatility Comparison
Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) has a higher volatility of 17.19% compared to iShares U.S. Oil & Gas Exploration & Production ETF (IEO) at 7.87%. This indicates that MAGX's price experiences larger fluctuations and is considered to be riskier than IEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MAGX | IEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.19% | 7.87% | +9.32% |
Volatility (6M)Calculated over the trailing 6-month period | 35.81% | 20.37% | +15.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.80% | 25.76% | +19.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.95% | 30.22% | +23.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.95% | 34.91% | +19.04% |
MAGX vs. IEO - Expense Ratio Comparison
MAGX has a 0.95% expense ratio, which is higher than IEO's 0.38% expense ratio.
Dividends
MAGX vs. IEO - Dividend Comparison
MAGX's dividend yield for the trailing twelve months is around 2.04%, more than IEO's 1.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEO iShares U.S. Oil & Gas Exploration & Production ETF | 1.90% | 2.61% | 2.63% | 3.00% | 3.77% | 2.62% | 3.17% | 1.85% | 1.67% | 0.94% | 0.98% | 2.03% |
MAGX Roundhill Daily 2X Long Magnificent Seven ETF | 2.04% | 2.05% | 0.86% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MAGX and IEO have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MAGX has higher volatility (17.19%) compared to IEO (7.87%). In terms of maximum drawdown, MAGX dropped -54.19% vs IEO's -79.17%.
On 1-year performance, IEO leads with 43.17% vs 28.07% for MAGX. On fees, IEO is cheaper at 0.38% per year. On volatility, IEO has been the lower-risk option at 7.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IEO has performed better with a 43.17% return vs 28.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IEO is cheaper with a 0.38% expense ratio, compared with 0.95% for MAGX.
MAGX has the higher dividend yield at 2.04%, compared with 1.90% for IEO.
MAGX is categorized as Leveraged Equities, while IEO is Energy Equities. They also come from different issuers: Roundhill and iShares. Their fees differ too: 0.95% for MAGX and 0.38% for IEO.
IEO currently has the higher Sharpe Ratio (1.68 vs 0.63), 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.
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