OKLL vs. AIPO

Last updated Jun 3, 2026

OKLL (Defiance Daily Target 2x Long OKLO ETF) and AIPO (Defiance AI & Power Infrastructure ETF) are both exchange-traded funds - OKLL 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. OKLL is actively managed, while AIPO is passively managed. A 0.70 correlation means they provide meaningful diversification when combined. OKLL charges 1.31%/yr vs 0.69%/yr for AIPO.

Performance

OKLL vs. AIPO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2x Long OKLO ETF (OKLL) and Defiance AI & Power Infrastructure ETF (AIPO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OKLL achieves a -37.27% return, which is significantly lower than AIPO's 53.75% return.

OKLL

• 1D: 19.41%
• 1M: -2.68%
• YTD: -37.27%
• 6M: -65.77%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AIPO

• 1D: 3.59%
• 1M: 8.38%
• YTD: 53.75%
• 6M: 48.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OKLL vs. AIPO - Yearly Performance Comparison

	2026 (YTD)	2025
OKLL Defiance Daily Target 2x Long OKLO ETF	-37.27%	-50.76%
AIPO Defiance AI & Power Infrastructure ETF	53.75%	8.68%

Correlation

The correlation between OKLL and AIPO is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 28, 2025	0.70

Return for Risk

OKLL vs. AIPO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2x Long OKLO ETF (OKLL) 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.

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

Sharpe Ratios by Period

	OKLL	AIPO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.29	2.44	-2.73

Drawdowns

OKLL vs. AIPO - Drawdown Comparison

The maximum OKLL drawdown since its inception was -96.29%, which is greater than AIPO's maximum drawdown of -17.31%. Use the drawdown chart below to compare losses from any high point for OKLL and AIPO.

Drawdown Indicators

	OKLL	AIPO	Difference
Max Drawdown Largest peak-to-trough decline	-96.29%	-17.31%	-78.98%
Current Drawdown Current decline from peak	-92.41%	0.00%	-92.41%
Average Drawdown Average peak-to-trough decline	-60.71%	-4.40%	-56.31%

Volatility

Volatility by Period

	OKLL	AIPO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	204.41%	34.13%	+170.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	204.41%	34.13%	+170.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	204.41%	34.13%	+170.28%

OKLL vs. AIPO - Expense Ratio Comparison

OKLL has a 1.31% expense ratio, which is higher than AIPO's 0.69% expense ratio.

Dividends

OKLL vs. AIPO - Dividend Comparison

OKLL 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%
OKLL Defiance Daily Target 2x Long OKLO ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both OKLL and AIPO in my portfolio?

OKLL and AIPO have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, OKLL or AIPO?

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.

Which ETF is cheaper, OKLL or AIPO?

AIPO is cheaper with a 0.69% expense ratio, compared with 1.31% for OKLL.

Which ETF pays a higher dividend yield, OKLL or AIPO?

AIPO has the higher dividend yield at 0.01%, compared with 0.00% for OKLL.

What is the main difference between OKLL and AIPO?

OKLL is categorized as Leveraged Equities, while AIPO is Technology Equities. Their fees differ too: 1.31% for OKLL and 0.69% for AIPO.