QBTZ vs. FLYD
QBTZ (Defiance Daily Target 2X Short QBTS ETF) and FLYD (MicroSectors Travel -3X Inverse Leveraged ETNs) are both Inverse Equities funds. QBTZ is actively managed, while FLYD is passively managed. At a 0.35 correlation, their price movements are largely independent. QBTZ charges 1.29%/yr vs 0.95%/yr for FLYD.
Performance
QBTZ vs. FLYD - Performance Comparison
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Returns By Period
In the year-to-date period, QBTZ achieves a -86.49% return, which is significantly lower than FLYD's -25.81% return.
QBTZ
- 1D
- 1.31%
- 1M
- 10.26%
- YTD
- -86.49%
- 6M
- -80.92%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FLYD
- 1D
- 3.14%
- 1M
- -24.23%
- YTD
- -25.81%
- 6M
- -19.69%
- 1Y
- -57.21%
- 3Y*
- -55.32%
- 5Y*
- —
- 10Y*
- —
QBTZ vs. FLYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QBTZ Defiance Daily Target 2X Short QBTS ETF | -86.49% | -47.53% |
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs | -25.81% | -12.80% |
Correlation
The correlation between QBTZ and FLYD is 0.35, 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 7, 2025 | 0.35 |
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Return for Risk
QBTZ vs. FLYD — Risk / Return Rank
QBTZ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FLYD
QBTZ vs. FLYD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short QBTS ETF (QBTZ) and MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| QBTZ | FLYD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.89 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -1.01 | — |
| Martin ratioReturn relative to average drawdown | — | -1.69 | — |
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Drawdowns
QBTZ vs. FLYD - Drawdown Comparison
The maximum QBTZ drawdown since its inception was -96.03%, roughly equal to the maximum FLYD drawdown of -98.34%. Use the drawdown chart below to compare losses from any high point for QBTZ and FLYD.
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Drawdown Indicators
| QBTZ | FLYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.03% | -98.34% | +2.31% |
Max Drawdown (1Y)Largest decline over 1 year | — | -57.02% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -94.22% | — |
Current DrawdownCurrent decline from peak | -95.30% | -98.29% | +2.99% |
Average DrawdownAverage peak-to-trough decline | -57.98% | -83.22% | +25.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 36.12% | — |
Volatility
QBTZ vs. FLYD - Volatility Comparison
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Volatility by Period
| QBTZ | FLYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 24.54% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 62.41% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 234.75% | 75.93% | +158.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 234.75% | 83.81% | +150.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 234.75% | 83.81% | +150.94% |
QBTZ vs. FLYD - Expense Ratio Comparison
QBTZ has a 1.29% expense ratio, which is higher than FLYD's 0.95% expense ratio.
Dividends
QBTZ vs. FLYD - Dividend Comparison
Neither QBTZ nor FLYD has paid dividends to shareholders.
Frequently Asked Questions
QBTZ and FLYD have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLYD is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLYD is cheaper with a 0.95% expense ratio, compared with 1.29% for QBTZ.
QBTZ and FLYD have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Defiance ETFs and REX. Their fees differ too: 1.29% for QBTZ and 0.95% for FLYD.
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