NVOX vs. AIPO
NVOX (Defiance Daily Target 2X Long NVO ETF) and AIPO (Defiance AI & Power Infrastructure ETF) are both exchange-traded funds - NVOX is a Leveraged Equities fund actively managed by Defiance, while AIPO is a Technology Equities fund tracking the MarketVector™ US Listed AI and Power Infrastructure Index. NVOX is actively managed, while AIPO is passively managed. At a 0.26 correlation, their price movements are largely independent. NVOX charges 1.29%/yr vs 0.69%/yr for AIPO.
Performance
NVOX vs. AIPO - Performance Comparison
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Returns By Period
In the year-to-date period, NVOX achieves a -42.21% return, which is significantly lower than AIPO's 52.03% return.
NVOX
- 1D
- -4.31%
- 1M
- -12.27%
- YTD
- -42.21%
- 6M
- -35.19%
- 1Y
- -77.12%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AIPO
- 1D
- -1.12%
- 1M
- 6.63%
- YTD
- 52.03%
- 6M
- 45.92%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NVOX vs. AIPO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NVOX Defiance Daily Target 2X Long NVO ETF | -42.21% | -59.52% |
AIPO Defiance AI & Power Infrastructure ETF | 52.03% | 8.68% |
Correlation
The correlation between NVOX and AIPO is 0.26, 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 Jul 28, 2025 | 0.26 |
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Return for Risk
NVOX vs. AIPO — Risk / Return Rank
NVOX
AIPO
NVOX vs. AIPO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long NVO ETF (NVOX) and Defiance AI & Power Infrastructure ETF (AIPO). 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.
| NVOX | AIPO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.85 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | — | — |
| Martin ratioReturn relative to average drawdown | -1.15 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NVOX | AIPO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.75 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.79 | 2.36 | -3.15 |
Drawdowns
NVOX vs. AIPO - Drawdown Comparison
The maximum NVOX drawdown since its inception was -94.50%, which is greater than AIPO's maximum drawdown of -17.31%. Use the drawdown chart below to compare losses from any high point for NVOX and AIPO.
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Drawdown Indicators
| NVOX | AIPO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.50% | -17.31% | -77.19% |
Max Drawdown (1Y)Largest decline over 1 year | -87.05% | — | — |
Current DrawdownCurrent decline from peak | -92.50% | -1.12% | -91.38% |
Average DrawdownAverage peak-to-trough decline | -74.32% | -4.38% | -69.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 66.88% | — | — |
Volatility
NVOX vs. AIPO - Volatility Comparison
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Volatility by Period
| NVOX | AIPO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.71% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 78.61% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 103.37% | 34.09% | +69.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 103.59% | 34.09% | +69.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 103.59% | 34.09% | +69.50% |
NVOX vs. AIPO - Expense Ratio Comparison
NVOX has a 1.29% expense ratio, which is higher than AIPO's 0.69% expense ratio.
Dividends
NVOX vs. AIPO - Dividend Comparison
NVOX has not paid dividends to shareholders, while AIPO's dividend yield for the trailing twelve months is around 0.01%.
| Position | TTM | 2025 |
|---|---|---|
AIPO Defiance AI & Power Infrastructure ETF | 0.01% | 0.01% |
NVOX Defiance Daily Target 2X Long NVO ETF | 0.00% | 0.00% |
Frequently Asked Questions
NVOX and AIPO 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.
On fees, AIPO is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AIPO is cheaper with a 0.69% expense ratio, compared with 1.29% for NVOX.
AIPO has the higher dividend yield at 0.01%, compared with 0.00% for NVOX.
NVOX is categorized as Leveraged Equities, while AIPO is Technology Equities. Their fees differ too: 1.29% for NVOX and 0.69% for AIPO.
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