NVOX vs. COMT

Last updated Jul 17, 2026

NVOX (Defiance Daily Target 2X Long NVO ETF) and COMT (iShares GSCI Commodity Dynamic Roll Strategy ETF) are both exchange-traded funds - NVOX is a Leveraged Equities fund actively managed by Defiance, while COMT is a Commodities fund tracking the S&P GSCI Dynamic Roll (USD) Total Return Index. NVOX is actively managed, while COMT is passively managed. Over the past year, NVOX returned -61.47% vs 33.20% for COMT. At a correlation of -0.10, they often move in opposite directions. NVOX charges 1.29%/yr vs 0.48%/yr for COMT.

Performance

NVOX vs. COMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long NVO ETF (NVOX) and iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVOX achieves a -16.22% return, which is significantly lower than COMT's 30.19% return.

NVOX

• 1D: 3.62%
• 1M: 36.36%
• 6M: -32.50%
• YTD: -16.22%
• 1Y: -61.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

COMT

• 1D: -0.49%
• 1M: 2.53%
• 6M: 26.18%
• YTD: 30.19%
• 1Y: 33.20%
• 3Y*: 12.71%
• 5Y*: 11.75%
• 10Y*: 8.33%

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

NVOX vs. COMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NVOX Defiance Daily Target 2X Long NVO ETF	-16.22%	-76.65%	-43.69%
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF	30.19%	6.07%	2.74%

Correlation

The correlation between NVOX and COMT is -0.13, 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 (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (All Time) Calculated using the full available price history since Dec 3, 2024	-0.10

Return for Risk

NVOX vs. COMT — Risk / Return Rank

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

NVOX

NVOX Risk / Return Rank: 5
NVOX Sharpe Ratio Rank: 4
NVOX Sortino Ratio Rank: 6
NVOX Omega Ratio Rank: 5
NVOX Calmar Ratio Rank: 3
NVOX Martin Ratio Rank: 5

COMT

COMT Risk / Return Rank: 52
COMT Sharpe Ratio Rank: 57
COMT Sortino Ratio Rank: 55
COMT Omega Ratio Rank: 54
COMT Calmar Ratio Rank: 45
COMT Martin Ratio Rank: 47

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.

NVOX vs. COMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long NVO ETF (NVOX) and iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT). 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.

	NVOX	COMT	Difference
Sharpe ratio: Return per unit of total volatility	-0.60	1.55	-2.15
Sortino ratio: Return per unit of downside risk	-0.45	2.13	-2.59
Omega ratio: Gain probability vs. loss probability	0.93	1.27	-0.34
Calmar ratio: Return relative to maximum drawdown	-0.74	1.90	-2.64
Martin ratio: Return relative to average drawdown	-0.98	6.35	-7.32

NVOX vs. COMT - Sharpe Ratio Comparison

The current NVOX Sharpe Ratio is -0.60, which is lower than the COMT Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of NVOX and COMT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NVOX vs. COMT - Drawdown Comparison

The maximum NVOX drawdown since its inception was -94.50%, which is greater than COMT's maximum drawdown of -51.89%. Use the drawdown chart below to compare losses from any high point for NVOX and COMT.

Drawdown Indicators

	NVOX	COMT	Difference
Max Drawdown Largest peak-to-trough decline	-94.50%	-51.89%	-42.61%
Max Drawdown (1Y) Largest decline over 1 year	-82.84%	-17.57%	-65.27%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.57%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.00%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.22%	—
Current Drawdown Current decline from peak	-89.13%	-11.28%	-77.85%
Average Drawdown Average peak-to-trough decline	-75.35%	-23.95%	-51.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	63.07%	5.24%	+57.83%

Volatility

NVOX vs. COMT - Volatility Comparison

Defiance Daily Target 2X Long NVO ETF (NVOX) has a higher volatility of 17.84% compared to iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) at 5.91%. This indicates that NVOX's price experiences larger fluctuations and is considered to be riskier than COMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVOX	COMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.84%	5.91%	+11.93%
Volatility (6M) Calculated over the trailing 6-month period	78.01%	19.67%	+58.34%
Volatility (1Y) Calculated over the trailing 1-year period	103.27%	21.54%	+81.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	101.63%	21.20%	+80.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	101.63%	18.85%	+82.78%

NVOX vs. COMT - Expense Ratio Comparison

NVOX has a 1.29% expense ratio, which is higher than COMT's 0.48% expense ratio.

Dividends

NVOX vs. COMT - Dividend Comparison

NVOX has not paid dividends to shareholders, while COMT's dividend yield for the trailing twelve months is around 5.95%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF	5.95%	7.74%	4.90%	5.19%	29.79%	17.79%	0.36%	2.61%	11.65%	5.16%	0.52%	1.44%
NVOX Defiance Daily Target 2X Long NVO ETF	0.00%	0.00%	0.00%	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 NVOX and COMT in my portfolio?

NVOX and COMT have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVOX or COMT?

NVOX has higher volatility (17.84%) compared to COMT (5.91%). In terms of maximum drawdown, NVOX dropped -94.50% vs COMT's -51.89%.

Which ETF is better, NVOX or COMT?

On 1-year performance, COMT leads with 33.20% vs -61.47% for NVOX. On fees, COMT is cheaper at 0.48% per year. On volatility, COMT has been the lower-risk option at 5.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVOX or COMT?

Over the 1-year period, COMT has performed better with a 33.20% return vs -61.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVOX or COMT?

COMT is cheaper with a 0.48% expense ratio, compared with 1.29% for NVOX.

Which ETF pays a higher dividend yield, NVOX or COMT?

COMT has the higher dividend yield at 5.95%, compared with 0.00% for NVOX.

What is the main difference between NVOX and COMT?

NVOX is categorized as Leveraged Equities, while COMT is Commodities. They also come from different issuers: Defiance and iShares. Their fees differ too: 1.29% for NVOX and 0.48% for COMT.

Which has better risk-adjusted returns?

COMT currently has the higher Sharpe Ratio (1.55 vs -0.60), 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.