RIOX vs. GRAG

Last updated Jul 12, 2026

RIOX (Defiance Daily Target 2X Long RIOT ETF) and GRAG (Leverage Shares 2X Long GRAB Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.29 correlation, their price movements are largely independent. RIOX charges 0.95%/yr vs 0.75%/yr for GRAG.

Performance

RIOX vs. GRAG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long RIOT ETF (RIOX) and Leverage Shares 2X Long GRAB Daily ETF (GRAG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RIOX achieves a 56.03% return, which is significantly higher than GRAG's -45.71% return.

RIOX

• 1D: -5.15%
• 1M: -40.16%
• 6M: 8.91%
• YTD: 56.03%
• 1Y: -4.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GRAG

• 1D: 3.50%
• 1M: 35.16%
• 6M: -41.95%
• YTD: -45.71%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RIOX vs. GRAG - Yearly Performance Comparison

	2026 (YTD)	2025
RIOX Defiance Daily Target 2X Long RIOT ETF	56.03%	-40.26%
GRAG Leverage Shares 2X Long GRAB Daily ETF	-45.71%	-5.79%

Correlation

The correlation between RIOX and GRAG is 0.29, 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 Dec 11, 2025	0.29

Return for Risk

RIOX vs. GRAG — Risk / Return Rank

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

RIOX

RIOX Risk / Return Rank: 15
RIOX Sharpe Ratio Rank: 9
RIOX Sortino Ratio Rank: 26
RIOX Omega Ratio Rank: 25
RIOX Calmar Ratio Rank: 8
RIOX Martin Ratio Rank: 9

GRAG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

RIOX vs. GRAG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long RIOT ETF (RIOX) and Leverage Shares 2X Long GRAB Daily ETF (GRAG). 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.

	RIOX	GRAG	Difference
Sharpe ratio: Return per unit of total volatility	-0.04	—	—
Sortino ratio: Return per unit of downside risk	1.20	—	—
Omega ratio: Gain probability vs. loss probability	1.14	—	—
Calmar ratio: Return relative to maximum drawdown	-0.09	—	—
Martin ratio: Return relative to average drawdown	-0.14	—	—

Drawdowns

RIOX vs. GRAG - Drawdown Comparison

The maximum RIOX drawdown since its inception was -84.40%, which is greater than GRAG's maximum drawdown of -65.33%. Use the drawdown chart below to compare losses from any high point for RIOX and GRAG.

Drawdown Indicators

	RIOX	GRAG	Difference
Max Drawdown Largest peak-to-trough decline	-84.40%	-65.33%	-19.07%
Max Drawdown (1Y) Largest decline over 1 year	-84.40%	—	—
Current Drawdown Current decline from peak	-62.53%	-51.08%	-11.45%
Average Drawdown Average peak-to-trough decline	-51.64%	-42.73%	-8.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	52.20%	—	—

Volatility

Volatility by Period

	RIOX	GRAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	44.93%	—	—
Volatility (6M) Calculated over the trailing 6-month period	123.96%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	169.28%	70.55%	+98.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	168.91%	70.55%	+98.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	168.91%	70.55%	+98.36%

RIOX vs. GRAG - Expense Ratio Comparison

RIOX has a 0.95% expense ratio, which is higher than GRAG's 0.75% expense ratio.

Dividends

RIOX vs. GRAG - Dividend Comparison

RIOX's dividend yield for the trailing twelve months is around 38.94%, while GRAG has not paid dividends to shareholders.

Position	TTM	2025
GRAG Leverage Shares 2X Long GRAB Daily ETF	0.00%	0.00%
RIOX Defiance Daily Target 2X Long RIOT ETF	38.94%	60.76%

Frequently Asked Questions

Can I hold both RIOX and GRAG in my portfolio?

RIOX and GRAG have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RIOX or GRAG?

On fees, GRAG 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, RIOX or GRAG?

GRAG is cheaper with a 0.75% expense ratio, compared with 0.95% for RIOX.

Which ETF pays a higher dividend yield, RIOX or GRAG?

RIOX has the higher dividend yield at 38.94%, compared with 0.00% for GRAG.

What is the main difference between RIOX and GRAG?

They also come from different issuers: Defiance and Leverage Shares. Their fees differ too: 0.95% for RIOX and 0.75% for GRAG.