OKLL vs. IBIE

Last updated Jun 23, 2026

OKLL (Defiance Daily Target 2x Long OKLO ETF) and IBIE (iShares iBonds Oct 2028 Term TIPS ETF) are both exchange-traded funds - OKLL is a Leveraged Equities fund actively managed by Defiance, while IBIE is a Inflation-Protected Bonds fund tracking the ICE 2028 Maturity US Inflation-Linked Treasury Index. OKLL is actively managed, while IBIE is passively managed. At a correlation of -0.01, they often move in opposite directions. OKLL charges 1.31%/yr vs 0.10%/yr for IBIE.

Performance

OKLL vs. IBIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2x Long OKLO ETF (OKLL) and iShares iBonds Oct 2028 Term TIPS ETF (IBIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OKLL achieves a -62.97% return, which is significantly lower than IBIE's 1.39% return.

OKLL

• 1D: -9.34%
• 1M: -27.62%
• YTD: -62.97%
• 6M: -72.96%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBIE

• 1D: -0.17%
• 1M: -0.25%
• YTD: 1.39%
• 6M: 1.45%
• 1Y: 3.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OKLL vs. IBIE - Yearly Performance Comparison

	2026 (YTD)	2025
OKLL Defiance Daily Target 2x Long OKLO ETF	-62.97%	-25.10%
IBIE iShares iBonds Oct 2028 Term TIPS ETF	1.39%	2.17%

Correlation

The correlation between OKLL and IBIE is -0.01, 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 (All Time) Calculated using the full available price history since Jun 24, 2025	-0.01

Return for Risk

OKLL vs. IBIE — 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.

IBIE

IBIE Risk / Return Rank: 86
IBIE Sharpe Ratio Rank: 76
IBIE Sortino Ratio Rank: 89
IBIE Omega Ratio Rank: 85
IBIE Calmar Ratio Rank: 90
IBIE Martin Ratio Rank: 88

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. IBIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2x Long OKLO ETF (OKLL) and iShares iBonds Oct 2028 Term TIPS ETF (IBIE). 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	IBIE	Difference
Sharpe ratio: Return per unit of total volatility	—	2.32	—
Sortino ratio: Return per unit of downside risk	—	3.93	—
Omega ratio: Gain probability vs. loss probability	—	1.49	—
Calmar ratio: Return relative to maximum drawdown	—	5.30	—
Martin ratio: Return relative to average drawdown	—	18.77	—

Drawdowns

OKLL vs. IBIE - Drawdown Comparison

The maximum OKLL drawdown since its inception was -96.29%, which is greater than IBIE's maximum drawdown of -1.70%. Use the drawdown chart below to compare losses from any high point for OKLL and IBIE.

Drawdown Indicators

	OKLL	IBIE	Difference
Max Drawdown Largest peak-to-trough decline	-96.29%	-1.70%	-94.59%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.70%	—
Current Drawdown Current decline from peak	-95.52%	-0.70%	-94.82%
Average Drawdown Average peak-to-trough decline	-62.27%	-0.39%	-61.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.20%	—

Volatility

Volatility by Period

	OKLL	IBIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.58%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.08%	—
Volatility (1Y) Calculated over the trailing 1-year period	203.14%	1.60%	+201.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	203.14%	2.85%	+200.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	203.14%	2.85%	+200.29%

OKLL vs. IBIE - Expense Ratio Comparison

OKLL has a 1.31% expense ratio, which is higher than IBIE's 0.10% expense ratio.

Dividends

OKLL vs. IBIE - Dividend Comparison

OKLL has not paid dividends to shareholders, while IBIE's dividend yield for the trailing twelve months is around 3.27%.

Position	TTM	2025	2024	2023
IBIE iShares iBonds Oct 2028 Term TIPS ETF	3.27%	4.09%	4.23%	0.75%
OKLL Defiance Daily Target 2x Long OKLO ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OKLL and IBIE in my portfolio?

OKLL and IBIE have a correlation of -0.01, 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 IBIE?

On fees, IBIE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, OKLL or IBIE?

IBIE is cheaper with a 0.10% expense ratio, compared with 1.31% for OKLL.

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

IBIE has the higher dividend yield at 3.27%, compared with 0.00% for OKLL.

What is the main difference between OKLL and IBIE?

OKLL is categorized as Leveraged Equities, while IBIE is Inflation-Protected Bonds. They also come from different issuers: Defiance and iShares. Their fees differ too: 1.31% for OKLL and 0.10% for IBIE.