NVOX vs. IBIC
NVOX (Defiance Daily Target 2X Long NVO ETF) and IBIC (iShares iBonds Oct 2026 Term TIPS ETF) are both exchange-traded funds - NVOX is a Leveraged Equities fund actively managed by Defiance, while IBIC is a Inflation-Protected Bonds fund tracking the ICE 2026 Maturity US Inflation-Linked Treasury Index. NVOX is actively managed, while IBIC is passively managed. Over the past year, NVOX returned -69.97% vs 4.42% for IBIC. At a correlation of -0.12, they often move in opposite directions. NVOX charges 1.29%/yr vs 0.10%/yr for IBIC.
Performance
NVOX vs. IBIC - Performance Comparison
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Returns By Period
In the year-to-date period, NVOX achieves a -28.00% return, which is significantly lower than IBIC's 2.43% return.
NVOX
- 1D
- 6.34%
- 1M
- 8.09%
- YTD
- -28.00%
- 6M
- -30.27%
- 1Y
- -69.97%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBIC
- 1D
- 0.04%
- 1M
- 0.12%
- YTD
- 2.43%
- 6M
- 2.57%
- 1Y
- 4.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NVOX vs. IBIC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NVOX Defiance Daily Target 2X Long NVO ETF | -28.00% | -76.65% | -43.69% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 2.43% | 4.96% | 0.26% |
Correlation
The correlation between NVOX and IBIC is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2024 | -0.12 |
The correlation between NVOX and IBIC shifts across timeframes, from -0.12 (all time) to -0.02 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NVOX vs. IBIC — Risk / Return Rank
NVOX
IBIC
NVOX vs. IBIC - 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 iBonds Oct 2026 Term TIPS ETF (IBIC). 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 | IBIC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.67 | ||
| Sortino ratioReturn per unit of downside risk | -9.73 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 2.22 | -1.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | 16.56 | -17.41 |
| Martin ratioReturn relative to average drawdown | -1.15 | 58.67 | -59.83 |
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Drawdowns
NVOX vs. IBIC - Drawdown Comparison
The maximum NVOX drawdown since its inception was -94.50%, which is greater than IBIC's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for NVOX and IBIC.
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Drawdown Indicators
| NVOX | IBIC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.50% | -0.90% | -93.60% |
Max Drawdown (1Y)Largest decline over 1 year | -82.84% | -0.27% | -82.57% |
Current DrawdownCurrent decline from peak | -90.66% | -0.08% | -90.58% |
Average DrawdownAverage peak-to-trough decline | -74.74% | -0.10% | -74.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 60.68% | 0.08% | +60.60% |
Volatility
NVOX vs. IBIC - Volatility Comparison
Defiance Daily Target 2X Long NVO ETF (NVOX) has a higher volatility of 23.75% compared to iShares iBonds Oct 2026 Term TIPS ETF (IBIC) at 0.17%. This indicates that NVOX's price experiences larger fluctuations and is considered to be riskier than IBIC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVOX | IBIC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.75% | 0.17% | +23.58% |
Volatility (6M)Calculated over the trailing 6-month period | 79.69% | 0.67% | +79.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 103.93% | 0.89% | +103.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 103.16% | 1.56% | +101.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 103.16% | 1.56% | +101.60% |
NVOX vs. IBIC - Expense Ratio Comparison
NVOX has a 1.29% expense ratio, which is higher than IBIC's 0.10% expense ratio.
Dividends
NVOX vs. IBIC - Dividend Comparison
NVOX has not paid dividends to shareholders, while IBIC's dividend yield for the trailing twelve months is around 3.58%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 3.58% | 4.43% | 4.65% | 0.83% |
NVOX Defiance Daily Target 2X Long NVO ETF | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NVOX and IBIC have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVOX has higher volatility (23.75%) compared to IBIC (0.17%). In terms of maximum drawdown, NVOX dropped -94.50% vs IBIC's -0.90%.
On 1-year performance, IBIC leads with 4.42% vs -69.97% for NVOX. On fees, IBIC is cheaper at 0.10% per year. On volatility, IBIC has been the lower-risk option at 0.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBIC has performed better with a 4.42% return vs -69.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIC is cheaper with a 0.10% expense ratio, compared with 1.29% for NVOX.
IBIC has the higher dividend yield at 3.58%, compared with 0.00% for NVOX.
NVOX is categorized as Leveraged Equities, while IBIC is Inflation-Protected Bonds. They also come from different issuers: Defiance and iShares. Their fees differ too: 1.29% for NVOX and 0.10% for IBIC.
IBIC currently has the higher Sharpe Ratio (4.99 vs -0.68), 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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