RIOX vs. XMAG

Last updated Jul 12, 2026

RIOX (Defiance Daily Target 2X Long RIOT ETF) and XMAG (Defiance Large Cap ex-Mag 7 ETF) are both exchange-traded funds - RIOX is a Leveraged Equities fund actively managed by Defiance, while XMAG is a Large Cap Blend Equities fund tracking the BITA US 500 ex Magnificent 7 Index. RIOX is actively managed, while XMAG is passively managed. Over the past year, RIOX returned -4.51% vs 21.93% for XMAG. A 0.55 correlation means they provide meaningful diversification when combined. RIOX charges 0.95%/yr vs 0.35%/yr for XMAG.

Performance

RIOX vs. XMAG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long RIOT ETF (RIOX) and Defiance Large Cap ex-Mag 7 ETF (XMAG). 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 XMAG's 14.27% return.

RIOX

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

XMAG

• 1D: 0.16%
• 1M: 2.24%
• 6M: 11.98%
• YTD: 14.27%
• 1Y: 21.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RIOX vs. XMAG - Yearly Performance Comparison

	2026 (YTD)	2025
RIOX Defiance Daily Target 2X Long RIOT ETF	56.03%	-47.32%
XMAG Defiance Large Cap ex-Mag 7 ETF	14.27%	15.93%

Correlation

The correlation between RIOX and XMAG is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (All Time) Calculated using the full available price history since Jan 3, 2025	0.55

The correlation between RIOX and XMAG has been stable across timeframes, ranging from 0.54 to 0.55 - a consistent structural relationship.

Return for Risk

RIOX vs. XMAG — 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

XMAG

XMAG Risk / Return Rank: 73
XMAG Sharpe Ratio Rank: 70
XMAG Sortino Ratio Rank: 72
XMAG Omega Ratio Rank: 66
XMAG Calmar Ratio Rank: 72
XMAG Martin Ratio Rank: 82

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. XMAG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long RIOT ETF (RIOX) and Defiance Large Cap ex-Mag 7 ETF (XMAG). 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	XMAG	Difference
Sharpe ratio: Return per unit of total volatility	-0.04	1.82	-1.86
Sortino ratio: Return per unit of downside risk	1.20	2.61	-1.41
Omega ratio: Gain probability vs. loss probability	1.14	1.31	-0.17
Calmar ratio: Return relative to maximum drawdown	-0.09	2.94	-3.03
Martin ratio: Return relative to average drawdown	-0.14	12.85	-12.98

RIOX vs. XMAG - Sharpe Ratio Comparison

The current RIOX Sharpe Ratio is -0.04, which is lower than the XMAG Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of RIOX and XMAG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

RIOX vs. XMAG - Drawdown Comparison

The maximum RIOX drawdown since its inception was -84.40%, which is greater than XMAG's maximum drawdown of -16.17%. Use the drawdown chart below to compare losses from any high point for RIOX and XMAG.

Drawdown Indicators

	RIOX	XMAG	Difference
Max Drawdown Largest peak-to-trough decline	-84.40%	-16.17%	-68.23%
Max Drawdown (1Y) Largest decline over 1 year	-84.40%	-7.29%	-77.11%
Current Drawdown Current decline from peak	-62.53%	-1.11%	-61.42%
Average Drawdown Average peak-to-trough decline	-51.64%	-2.05%	-49.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	52.20%	1.67%	+50.53%

Volatility

RIOX vs. XMAG - Volatility Comparison

Defiance Daily Target 2X Long RIOT ETF (RIOX) has a higher volatility of 44.93% compared to Defiance Large Cap ex-Mag 7 ETF (XMAG) at 4.22%. This indicates that RIOX's price experiences larger fluctuations and is considered to be riskier than XMAG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RIOX	XMAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	44.93%	4.22%	+40.71%
Volatility (6M) Calculated over the trailing 6-month period	123.96%	9.40%	+114.56%
Volatility (1Y) Calculated over the trailing 1-year period	169.28%	11.81%	+157.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	168.91%	15.12%	+153.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	168.91%	15.12%	+153.79%

RIOX vs. XMAG - Expense Ratio Comparison

RIOX has a 0.95% expense ratio, which is higher than XMAG's 0.35% expense ratio.

Dividends

RIOX vs. XMAG - Dividend Comparison

RIOX's dividend yield for the trailing twelve months is around 38.94%, more than XMAG's 0.45% yield.

Position	TTM	2025	2024
RIOX Defiance Daily Target 2X Long RIOT ETF	38.94%	60.76%	0.00%
XMAG Defiance Large Cap ex-Mag 7 ETF	0.45%	0.51%	0.24%

Frequently Asked Questions

Can I hold both RIOX and XMAG in my portfolio?

RIOX and XMAG have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RIOX or XMAG?

RIOX has higher volatility (44.93%) compared to XMAG (4.22%). In terms of maximum drawdown, RIOX dropped -84.40% vs XMAG's -16.17%.

Which ETF is better, RIOX or XMAG?

On 1-year performance, XMAG leads with 21.93% vs -4.51% for RIOX. On fees, XMAG is cheaper at 0.35% per year. On volatility, XMAG has been the lower-risk option at 4.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RIOX or XMAG?

Over the 1-year period, XMAG has performed better with a 21.93% return vs -4.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RIOX or XMAG?

XMAG is cheaper with a 0.35% expense ratio, compared with 0.95% for RIOX.

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

RIOX has the higher dividend yield at 38.94%, compared with 0.45% for XMAG.

What is the main difference between RIOX and XMAG?

RIOX is categorized as Leveraged Equities, while XMAG is Large Cap Blend Equities. Their fees differ too: 0.95% for RIOX and 0.35% for XMAG.

Which has better risk-adjusted returns?

XMAG currently has the higher Sharpe Ratio (1.82 vs -0.04), 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.