RIOX vs. IAK
RIOX (Defiance Daily Target 2X Long RIOT ETF) and IAK (iShares U.S. Insurance ETF) are both exchange-traded funds - RIOX is a Leveraged Equities fund actively managed by Defiance, while IAK is a Financials Equities fund tracking the Dow Jones U.S. Select Insurance Index. RIOX is actively managed, while IAK is passively managed. Over the past year, RIOX returned 7.24% vs 19.63% for IAK. Their -0.05 correlation means they have often moved in opposite directions in the past. RIOX charges 0.95%/yr vs 0.38%/yr for IAK.
Performance
RIOX vs. IAK - Performance Comparison
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Returns By Period
In the year-to-date period, RIOX achieves a 28.32% return, which is significantly higher than IAK's 10.07% return.
RIOX
- 1D
- -17.51%
- 1M
- -27.36%
- 6M
- -6.06%
- YTD
- 28.32%
- 1Y
- 7.24%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -22.05%
IAK
- 1D
- -0.31%
- 1M
- -0.06%
- 6M
- 12.67%
- YTD
- 10.07%
- 1Y
- 19.63%
- 3Y*
- 19.72%
- 5Y*
- 15.95%
- 10Y*
- 13.45%
- ALL TIME*
- 7.39%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $14.76M | $20.90M | $11.89M | |
| $4.70M | $4.01M | $10.22M |
RIOX vs. IAK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
RIOX Defiance Daily Target 2X Long RIOT ETF | 28.32% | -47.32% |
IAK iShares U.S. Insurance ETF | 10.07% | 10.16% |
Correlation
The correlation between RIOX and IAK is -0.19, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.19 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2025 | -0.05 |
The correlation between RIOX and IAK shifts across timeframes, from -0.19 (1 year) to -0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
RIOX vs. IAK — Risk / Return Rank
RIOX
IAK
RIOX vs. IAK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long RIOT ETF (RIOX) and iShares U.S. Insurance ETF (IAK). 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 | IAK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.21 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.37 | 2.45 | -2.82 |
| Martin ratioReturn relative to average drawdown | -0.58 | 5.96 | -6.55 |
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Drawdowns
RIOX vs. IAK - Drawdown Comparison
The maximum RIOX drawdown since its inception was -84.40%, which is greater than IAK's maximum drawdown of -77.38%. Use the drawdown chart below to compare losses from any high point for RIOX and IAK.
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Drawdown Indicators
| RIOX | IAK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.40% | -77.38% | -7.02% |
Max Drawdown (1Y)Largest decline over 1 year | -84.40% | -7.62% | -76.78% |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.58% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.76% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.95% | — |
Current DrawdownCurrent decline from peak | -69.19% | -3.23% | -65.96% |
Average DrawdownAverage peak-to-trough decline | -52.12% | -16.01% | -36.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 53.84% | 3.13% | +50.71% |
Volatility
RIOX vs. IAK - Volatility Comparison
Defiance Daily Target 2X Long RIOT ETF (RIOX) has a higher volatility of 68.42% compared to iShares U.S. Insurance ETF (IAK) at 7.03%. This indicates that RIOX's price experiences larger fluctuations and is considered to be riskier than IAK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RIOX | IAK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 68.42% | 7.03% | +61.39% |
Volatility (6M)Calculated over the trailing 6-month period | 132.16% | 12.43% | +119.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 179.86% | 16.00% | +163.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 173.60% | 18.13% | +155.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 173.60% | 20.92% | +152.68% |
RIOX vs. IAK - Expense Ratio Comparison
RIOX has a 0.95% expense ratio, which is higher than IAK's 0.38% expense ratio.
Dividends
RIOX vs. IAK - Dividend Comparison
RIOX's dividend yield for the trailing twelve months is around 47.35%, more than IAK's 2.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAK iShares U.S. Insurance ETF | 2.43% | 1.69% | 1.49% | 1.44% | 1.69% | 2.26% | 2.07% | 1.84% | 2.33% | 1.62% | 1.68% | 1.62% |
RIOX Defiance Daily Target 2X Long RIOT ETF | 47.35% | 60.76% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RIOX and IAK have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RIOX has higher volatility (68.42%) compared to IAK (7.03%). In terms of maximum drawdown, RIOX dropped -84.40% vs IAK's -77.38%.
On 1-year performance, IAK leads with 19.63% vs 7.24% for RIOX. On fees, IAK is cheaper at 0.38% per year. On volatility, IAK has been the lower-risk option at 7.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IAK has performed better with a 19.63% return vs 7.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IAK is cheaper with a 0.38% expense ratio, compared with 0.95% for RIOX.
RIOX has the higher dividend yield at 47.35%, compared with 2.43% for IAK.
RIOX is categorized as Leveraged Equities, while IAK is Financials Equities. They also come from different issuers: Defiance and iShares. Their fees differ too: 0.95% for RIOX and 0.38% for IAK.
IAK currently has the higher Sharpe Ratio (1.17 vs -0.17), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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