OKLS vs. NFXS
OKLS (Defiance Daily Target 2X Short OKLO ETF) and NFXS (Direxion Daily NFLX Bear 1X Shares) are both Inverse Equities funds. Both are actively managed. At a correlation of -0.01, they often move in opposite directions. OKLS charges 1.31%/yr vs 1.03%/yr for NFXS.
Performance
OKLS vs. NFXS - Performance Comparison
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Returns By Period
In the year-to-date period, OKLS achieves a -65.39% return, which is significantly lower than NFXS's 10.42% return.
OKLS
- 1D
- 21.55%
- 1M
- 40.94%
- YTD
- -65.39%
- 6M
- -37.16%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NFXS
- 1D
- -0.76%
- 1M
- 7.36%
- YTD
- 10.42%
- 6M
- 17.80%
- 1Y
- 46.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OKLS vs. NFXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
OKLS Defiance Daily Target 2X Short OKLO ETF | -65.39% | 15.32% |
NFXS Direxion Daily NFLX Bear 1X Shares | 10.42% | 12.95% |
Correlation
The correlation between OKLS and NFXS 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 Nov 28, 2025 | -0.01 |
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Return for Risk
OKLS vs. NFXS — Risk / Return Rank
OKLS
NFXS
OKLS vs. NFXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short OKLO ETF (OKLS) and Direxion Daily NFLX Bear 1X Shares (NFXS). 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.
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Sharpe Ratios by Period
| OKLS | NFXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.40 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.42 | -0.37 | -0.04 |
Drawdowns
OKLS vs. NFXS - Drawdown Comparison
The maximum OKLS drawdown since its inception was -81.03%, which is greater than NFXS's maximum drawdown of -50.37%. Use the drawdown chart below to compare losses from any high point for OKLS and NFXS.
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Drawdown Indicators
| OKLS | NFXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.03% | -50.37% | -30.66% |
Max Drawdown (1Y)Largest decline over 1 year | — | -31.31% | — |
Current DrawdownCurrent decline from peak | -71.78% | -22.55% | -49.23% |
Average DrawdownAverage peak-to-trough decline | -39.42% | -32.34% | -7.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 11.42% | — |
Volatility
OKLS vs. NFXS - Volatility Comparison
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Volatility by Period
| OKLS | NFXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 6.64% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 25.94% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 201.03% | 33.08% | +167.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 201.03% | 34.61% | +166.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 201.03% | 34.61% | +166.42% |
OKLS vs. NFXS - Expense Ratio Comparison
OKLS has a 1.31% expense ratio, which is higher than NFXS's 1.03% expense ratio.
Dividends
OKLS vs. NFXS - Dividend Comparison
OKLS has not paid dividends to shareholders, while NFXS's dividend yield for the trailing twelve months is around 2.83%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
NFXS Direxion Daily NFLX Bear 1X Shares | 2.83% | 3.53% | 0.87% |
OKLS Defiance Daily Target 2X Short OKLO ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
OKLS and NFXS 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.
On fees, NFXS is cheaper at 1.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NFXS is cheaper with a 1.03% expense ratio, compared with 1.31% for OKLS.
NFXS has the higher dividend yield at 2.83%, compared with 0.00% for OKLS.
They also come from different issuers: Defiance and Direxion. Their fees differ too: 1.31% for OKLS and 1.03% for NFXS.
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