QBTZ vs. CARD
QBTZ (Defiance Daily Target 2X Short QBTS ETF) and CARD (Max Auto Industry -3X Inverse Leveraged ETN) are both Inverse Equities funds. QBTZ is actively managed, while CARD is passively managed. At a 0.44 correlation, their price movements are largely independent. QBTZ charges 1.29%/yr vs 0.95%/yr for CARD.
Performance
QBTZ vs. CARD - Performance Comparison
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Returns By Period
In the year-to-date period, QBTZ achieves a -86.84% return, which is significantly lower than CARD's -3.37% return.
QBTZ
- 1D
- -1.57%
- 1M
- -73.34%
- YTD
- -86.84%
- 6M
- -88.85%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CARD
- 1D
- -0.79%
- 1M
- -13.02%
- YTD
- -3.37%
- 6M
- -0.02%
- 1Y
- -37.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QBTZ vs. CARD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QBTZ Defiance Daily Target 2X Short QBTS ETF | -86.84% | -50.03% |
CARD Max Auto Industry -3X Inverse Leveraged ETN | -3.37% | -9.74% |
Correlation
The correlation between QBTZ and CARD is 0.44, 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 Oct 8, 2025 | 0.44 |
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Return for Risk
QBTZ vs. CARD — Risk / Return Rank
QBTZ
CARD
QBTZ vs. CARD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short QBTS ETF (QBTZ) and Max Auto Industry -3X Inverse Leveraged ETN (CARD). 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
| QBTZ | CARD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -0.55 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.42 | -0.66 | +0.23 |
Drawdowns
QBTZ vs. CARD - Drawdown Comparison
The maximum QBTZ drawdown since its inception was -96.03%, roughly equal to the maximum CARD drawdown of -93.51%. Use the drawdown chart below to compare losses from any high point for QBTZ and CARD.
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Drawdown Indicators
| QBTZ | CARD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.03% | -93.51% | -2.52% |
Max Drawdown (1Y)Largest decline over 1 year | — | -49.57% | — |
Current DrawdownCurrent decline from peak | -95.42% | -92.74% | -2.68% |
Average DrawdownAverage peak-to-trough decline | -55.88% | -68.17% | +12.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 34.04% | — |
Volatility
QBTZ vs. CARD - Volatility Comparison
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Volatility by Period
| QBTZ | CARD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 22.78% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 49.82% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 234.44% | 68.57% | +165.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 234.44% | 80.47% | +153.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 234.44% | 80.47% | +153.97% |
QBTZ vs. CARD - Expense Ratio Comparison
QBTZ has a 1.29% expense ratio, which is higher than CARD's 0.95% expense ratio.
Dividends
QBTZ vs. CARD - Dividend Comparison
Neither QBTZ nor CARD has paid dividends to shareholders.
Frequently Asked Questions
QBTZ and CARD have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CARD is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CARD is cheaper with a 0.95% expense ratio, compared with 1.29% for QBTZ.
QBTZ and CARD have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Defiance ETFs and Max. Their fees differ too: 1.29% for QBTZ and 0.95% for CARD.
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