OKLS vs. AIPO

Last updated Jun 6, 2026

OKLS (Defiance Daily Target 2X Short OKLO ETF) and AIPO (Defiance AI & Power Infrastructure ETF) are both exchange-traded funds - OKLS is a Inverse Equities fund actively managed by Defiance, while AIPO is a Technology Equities fund tracking the MarketVector™ US Listed AI and Power Infrastructure Index. OKLS is actively managed, while AIPO is passively managed. At a correlation of -0.73, they often move in opposite directions. OKLS charges 1.31%/yr vs 0.69%/yr for AIPO.

Performance

OKLS vs. AIPO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Short OKLO ETF (OKLS) 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, OKLS achieves a -65.39% return, which is significantly lower than AIPO's 40.87% return.

OKLS

• 1D: 21.55%
• 1M: 40.94%
• YTD: -65.39%
• 6M: -37.16%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AIPO

• 1D: -6.65%
• 1M: -6.45%
• YTD: 40.87%
• 6M: 31.16%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OKLS vs. AIPO - Yearly Performance Comparison

	2026 (YTD)	2025
OKLS Defiance Daily Target 2X Short OKLO ETF	-65.39%	15.32%
AIPO Defiance AI & Power Infrastructure ETF	40.87%	-3.44%

Correlation

The correlation between OKLS and AIPO is -0.73, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 28, 2025	-0.73

Return for Risk

OKLS vs. AIPO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short OKLO ETF (OKLS) 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

	OKLS	AIPO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.42	1.85	-2.26

Drawdowns

OKLS vs. AIPO - Drawdown Comparison

The maximum OKLS drawdown since its inception was -81.03%, which is greater than AIPO's maximum drawdown of -17.31%. Use the drawdown chart below to compare losses from any high point for OKLS and AIPO.

Drawdown Indicators

	OKLS	AIPO	Difference
Max Drawdown Largest peak-to-trough decline	-81.03%	-17.31%	-63.72%
Current Drawdown Current decline from peak	-71.78%	-8.38%	-63.40%
Average Drawdown Average peak-to-trough decline	-39.42%	-4.39%	-35.03%

Volatility

Volatility by Period

	OKLS	AIPO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	201.03%	34.75%	+166.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	201.03%	34.75%	+166.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	201.03%	34.75%	+166.28%

OKLS vs. AIPO - Expense Ratio Comparison

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

Dividends

OKLS vs. AIPO - Dividend Comparison

OKLS 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%
OKLS Defiance Daily Target 2X Short OKLO ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both OKLS and AIPO in my portfolio?

OKLS and AIPO have a correlation of -0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, OKLS 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, OKLS or AIPO?

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

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

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

What is the main difference between OKLS and AIPO?

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