OKLL vs. XMAG

Last updated Apr 2, 2026

Compare and contrast key facts about Defiance Daily Target 2x Long OKLO ETF (OKLL) and Defiance Large Cap ex-Mag 7 ETF (XMAG).

OKLL and XMAG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. OKLL is an actively managed fund by Defiance. It was launched on Jun 23, 2025. XMAG is a passively managed fund by Defiance that tracks the performance of the BITA US 500 ex Magnificent 7 Index. It was launched on Oct 21, 2024.

Performance

OKLL vs. XMAG - 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 Large Cap ex-Mag 7 ETF (XMAG). The values are adjusted to include any dividend payments, if applicable.

OKLL vs. XMAG - Yearly Performance Comparison

	2026 (YTD)	2025
OKLL Defiance Daily Target 2x Long OKLO ETF	-66.31%	-30.34%
XMAG Defiance Large Cap ex-Mag 7 ETF	-1.15%	8.65%

Returns By Period

In the year-to-date period, OKLL achieves a -66.31% return, which is significantly lower than XMAG's -1.15% return.

OKLL

• 1D: -6.61%
• 1M: -48.78%
• YTD: -66.31%
• 6M: -91.26%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XMAG

• 1D: 0.42%
• 1M: -4.41%
• YTD: -1.15%
• 6M: 0.87%
• 1Y: 14.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OKLL vs. XMAG - Expense Ratio Comparison

OKLL has a 1.31% expense ratio, which is higher than XMAG's 0.35% expense ratio.

OKLL

Defiance Daily Target 2x Long OKLO ETF

XMAG

Defiance Large Cap ex-Mag 7 ETF

Return for Risk

OKLL vs. XMAG — Risk / Return Rank

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

XMAG

XMAG Risk / Return Rank: 48
XMAG Sharpe Ratio Rank: 45
XMAG Sortino Ratio Rank: 46
XMAG Omega Ratio Rank: 48
XMAG Calmar Ratio Rank: 45
XMAG Martin Ratio Rank: 58

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. XMAG - 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 Large Cap ex-Mag 7 ETF (XMAG). 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	XMAG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.86	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.42	0.55	-0.97

Correlation

The correlation between OKLL and XMAG is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

OKLL vs. XMAG - Dividend Comparison

OKLL has not paid dividends to shareholders, while XMAG's dividend yield for the trailing twelve months is around 0.52%.

	TTM	2025	2024
OKLL Defiance Daily Target 2x Long OKLO ETF	0.00%	0.00%	0.00%
XMAG Defiance Large Cap ex-Mag 7 ETF	0.52%	0.51%	0.24%

Drawdowns

OKLL vs. XMAG - Drawdown Comparison

The maximum OKLL drawdown since its inception was -96.29%, which is greater than XMAG's maximum drawdown of -16.17%. Use the drawdown chart below to compare losses from any high point for OKLL and XMAG.

Drawdown Indicators

	OKLL	XMAG	Difference
Max Drawdown Largest peak-to-trough decline	-96.29%	-16.17%	-80.12%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.21%	—
Current Drawdown Current decline from peak	-95.93%	-4.51%	-91.42%
Average Drawdown Average peak-to-trough decline	-53.66%	-2.31%	-51.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.33%	—

Volatility

Volatility by Period

	OKLL	XMAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.56%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.70%	—
Volatility (1Y) Calculated over the trailing 1-year period	202.02%	16.33%	+185.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	202.02%	15.46%	+186.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	202.02%	15.46%	+186.56%