OOQB vs. OKLL

Last updated Jun 4, 2026

OOQB (Volatility Shares One+One Nasdaq-100® and Bitcoin ETF) and OKLL (Defiance Daily Target 2x Long OKLO ETF) are both exchange-traded funds - OOQB is a Nasdaq-100 fund actively managed by Volatility Shares, while OKLL is a Leveraged Equities fund actively managed by Defiance. Both are actively managed. At a 0.43 correlation, their price movements are largely independent. OOQB charges 0.75%/yr vs 1.31%/yr for OKLL.

Performance

OOQB vs. OKLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Volatility Shares One+One Nasdaq-100® and Bitcoin ETF (OOQB) and Defiance Daily Target 2x Long OKLO ETF (OKLL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OOQB achieves a -18.43% return, which is significantly higher than OKLL's -51.28% return.

OOQB

• 1D: 0.00%
• 1M: 0.00%
• YTD: -18.43%
• 6M: -24.99%
• 1Y: -27.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

OKLL

• 1D: -22.34%
• 1M: -20.06%
• YTD: -51.28%
• 6M: -75.86%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OOQB vs. OKLL - Yearly Performance Comparison

	2026 (YTD)	2025
OOQB Volatility Shares One+One Nasdaq-100® and Bitcoin ETF	-18.43%	-11.73%
OKLL Defiance Daily Target 2x Long OKLO ETF	-51.28%	-30.34%

Correlation

The correlation between OOQB and OKLL is 0.43, 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 25, 2025	0.43

Return for Risk

OOQB vs. OKLL — Risk / Return Rank

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

OOQB

OOQB Risk / Return Rank: 4
OOQB Sharpe Ratio Rank: 4
OOQB Sortino Ratio Rank: 5
OOQB Omega Ratio Rank: 4
OOQB Calmar Ratio Rank: 4
OOQB Martin Ratio Rank: 5

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.

OOQB vs. OKLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Volatility Shares One+One Nasdaq-100® and Bitcoin ETF (OOQB) and Defiance Daily Target 2x Long OKLO ETF (OKLL). 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.

	OOQB	OKLL	Difference
Sharpe ratio: Return per unit of total volatility	-0.53	—	—
Sortino ratio: Return per unit of downside risk	-0.50	—	—
Omega ratio: Gain probability vs. loss probability	0.94	—	—
Calmar ratio: Return relative to maximum drawdown	-0.51	—	—
Martin ratio: Return relative to average drawdown	-0.91	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	OOQB	OKLL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.41	-0.33	-0.07

Drawdowns

OOQB vs. OKLL - Drawdown Comparison

The maximum OOQB drawdown since its inception was -53.44%, smaller than the maximum OKLL drawdown of -96.29%. Use the drawdown chart below to compare losses from any high point for OOQB and OKLL.

Drawdown Indicators

	OOQB	OKLL	Difference
Max Drawdown Largest peak-to-trough decline	-53.44%	-96.29%	+42.85%
Max Drawdown (1Y) Largest decline over 1 year	-53.44%	—	—
Current Drawdown Current decline from peak	-43.69%	-94.11%	+50.42%
Average Drawdown Average peak-to-trough decline	-23.26%	-60.85%	+37.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.11%	—	—

Volatility

Volatility by Period

	OOQB	OKLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	—	—
Volatility (6M) Calculated over the trailing 6-month period	39.39%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	51.57%	205.33%	-153.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.12%	205.33%	-147.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	58.12%	205.33%	-147.21%

OOQB vs. OKLL - Expense Ratio Comparison

OOQB has a 0.75% expense ratio, which is lower than OKLL's 1.31% expense ratio.

Dividends

OOQB vs. OKLL - Dividend Comparison

OOQB's dividend yield for the trailing twelve months is around 11.62%, while OKLL has not paid dividends to shareholders.

Position	TTM	2025
OKLL Defiance Daily Target 2x Long OKLO ETF	0.00%	0.00%
OOQB Volatility Shares One+One Nasdaq-100® and Bitcoin ETF	11.62%	9.53%

Frequently Asked Questions

Can I hold both OOQB and OKLL in my portfolio?

OOQB and OKLL have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, OOQB or OKLL?

On fees, OOQB is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, OOQB or OKLL?

OOQB is cheaper with a 0.75% expense ratio, compared with 1.31% for OKLL.

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

OOQB has the higher dividend yield at 11.62%, compared with 0.00% for OKLL.

What is the main difference between OOQB and OKLL?

OOQB is categorized as Nasdaq-100, while OKLL is Leveraged Equities. They also come from different issuers: Volatility Shares and Defiance. Their fees differ too: 0.75% for OOQB and 1.31% for OKLL.