OKLL vs. DLLL

Last updated Jun 24, 2026

OKLL (Defiance Daily Target 2x Long OKLO ETF) and DLLL (GraniteShares 2x Long DELL Daily ETF) are both Leveraged Equities funds. OKLL is actively managed, while DLLL is passively managed. Over the past year, OKLL returned -73.38% vs 765.95% for DLLL. At a 0.25 correlation, their price movements are largely independent. OKLL charges 1.31%/yr vs 1.50%/yr for DLLL.

Performance

OKLL vs. DLLL - Performance Comparison

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

Returns By Period

In the year-to-date period, OKLL achieves a -64.46% return, which is significantly lower than DLLL's 762.51% return.

OKLL

• 1D: -4.03%
• 1M: -30.54%
• YTD: -64.46%
• 6M: -73.01%
• 1Y: -73.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DLLL

• 1D: 4.21%
• 1M: 89.37%
• YTD: 762.51%
• 6M: 738.64%
• 1Y: 765.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OKLL vs. DLLL - Yearly Performance Comparison

	2026 (YTD)	2025
OKLL Defiance Daily Target 2x Long OKLO ETF	-64.46%	-25.10%
DLLL GraniteShares 2x Long DELL Daily ETF	762.51%	0.40%

Correlation

The correlation between OKLL and DLLL is 0.25, 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 Jun 24, 2025	0.25

Return for Risk

OKLL vs. DLLL — Risk / Return Rank

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

OKLL

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

DLLL

DLLL Risk / Return Rank: 96
DLLL Sharpe Ratio Rank: 99
DLLL Sortino Ratio Rank: 94
DLLL Omega Ratio Rank: 92
DLLL Calmar Ratio Rank: 98
DLLL Martin Ratio Rank: 95

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.

OKLL vs. DLLL - Risk-Adjusted Trends Comparison

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

	OKLL	DLLL	Difference
Sharpe ratio: Return per unit of total volatility	—	5.91	—
Sortino ratio: Return per unit of downside risk	—	4.55	—
Omega ratio: Gain probability vs. loss probability	—	1.56	—
Calmar ratio: Return relative to maximum drawdown	—	13.52	—
Martin ratio: Return relative to average drawdown	—	27.52	—

Drawdowns

OKLL vs. DLLL - Drawdown Comparison

The maximum OKLL drawdown since its inception was -96.29%, which is greater than DLLL's maximum drawdown of -68.58%. Use the drawdown chart below to compare losses from any high point for OKLL and DLLL.

Drawdown Indicators

	OKLL	DLLL	Difference
Max Drawdown Largest peak-to-trough decline	-96.29%	-68.58%	-27.71%
Max Drawdown (1Y) Largest decline over 1 year	-96.29%	-57.19%	-39.10%
Current Drawdown Current decline from peak	-95.70%	-18.41%	-77.29%
Average Drawdown Average peak-to-trough decline	-62.40%	-25.86%	-36.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	28.05%	—

Volatility

Volatility by Period

	OKLL	DLLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	66.89%	—
Volatility (6M) Calculated over the trailing 6-month period	—	102.56%	—
Volatility (1Y) Calculated over the trailing 1-year period	202.78%	131.00%	+71.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	202.78%	129.67%	+73.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	202.78%	129.67%	+73.11%

OKLL vs. DLLL - Expense Ratio Comparison

OKLL has a 1.31% expense ratio, which is lower than DLLL's 1.50% expense ratio.

Dividends

OKLL vs. DLLL - Dividend Comparison

Neither OKLL nor DLLL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both OKLL and DLLL in my portfolio?

OKLL and DLLL have a correlation of 0.25, 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 DLLL?

On 1-year performance, DLLL leads with 765.95% vs -73.38% for OKLL. On fees, OKLL is cheaper at 1.31% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OKLL or DLLL?

Over the 1-year period, DLLL has performed better with a 765.95% return vs -73.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OKLL or DLLL?

OKLL is cheaper with a 1.31% expense ratio, compared with 1.50% for DLLL.

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

OKLL and DLLL have nearly identical dividend yields, around 0.00%.

What is the main difference between OKLL and DLLL?

They also come from different issuers: Defiance and GraniteShares. Their fees differ too: 1.31% for OKLL and 1.50% for DLLL.