RKLX vs. METE.TO

Last updated Jun 4, 2026

RKLX (Defiance Daily Target 2X Long RKLB ETF) and METE.TO (Harvest Meta Enhanced High Income Shares ETF - Class A Units) are both exchange-traded funds - RKLX is a Leveraged Equities fund actively managed by Defiance, while METE.TO is a Derivative Income fund actively managed by Harvest Portfolios Group. Both are actively managed. Over the past year, RKLX returned 535.41% vs -7.15% for METE.TO. At a 0.28 correlation, their price movements are largely independent. RKLX charges 1.29%/yr vs 0.40%/yr for METE.TO.

Performance

RKLX vs. METE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long RKLB ETF (RKLX) and Harvest Meta Enhanced High Income Shares ETF - Class A Units (METE.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

RKLX is traded in USD, while METE.TO is traded in CAD. To make them comparable, the METE.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, RKLX achieves a 59.46% return, which is significantly higher than METE.TO's -5.73% return.

RKLX

• 1D: -14.06%
• 1M: 69.79%
• YTD: 59.46%
• 6M: 247.53%
• 1Y: 535.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

METE.TO

• 1D: 5.05%
• 1M: 2.59%
• YTD: -5.73%
• 6M: -2.48%
• 1Y: -7.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RKLX vs. METE.TO - Yearly Performance Comparison

	2026 (YTD)	2025
RKLX Defiance Daily Target 2X Long RKLB ETF	59.46%	654.37%
METE.TO Harvest Meta Enhanced High Income Shares ETF - Class A Units	-5.73%	10.31%

Correlation

The correlation between RKLX and METE.TO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (All Time) Calculated using the full available price history since Mar 14, 2025	0.28

Return for Risk

RKLX vs. METE.TO — Risk / Return Rank

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

RKLX

RKLX Risk / Return Rank: 78
RKLX Sharpe Ratio Rank: 88
RKLX Sortino Ratio Rank: 69
RKLX Omega Ratio Rank: 63
RKLX Calmar Ratio Rank: 94
RKLX Martin Ratio Rank: 77

METE.TO

METE.TO Risk / Return Rank: 8
METE.TO Sharpe Ratio Rank: 8
METE.TO Sortino Ratio Rank: 8
METE.TO Omega Ratio Rank: 8
METE.TO Calmar Ratio Rank: 8
METE.TO Martin Ratio Rank: 7

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.

RKLX vs. METE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long RKLB ETF (RKLX) and Harvest Meta Enhanced High Income Shares ETF - Class A Units (METE.TO). 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.

	RKLX	METE.TO	Difference
Sharpe ratio Return per unit of total volatility	2.94	-0.19	+3.14
Sortino ratio Return per unit of downside risk	3.12	-0.02	+3.14
Omega ratio Gain probability vs. loss probability	1.38	1.00	+0.38
Calmar ratio Return relative to maximum drawdown	7.53	-0.20	+7.73
Martin ratio Return relative to average drawdown	14.71	-0.43	+15.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RKLX vs. METE.TO - Sharpe Ratio Comparison

The current RKLX Sharpe Ratio is 2.94, which is higher than the METE.TO Sharpe Ratio of -0.19. The chart below compares the historical Sharpe Ratios of RKLX and METE.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RKLX	METE.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.94	-0.19	+3.14
Sharpe Ratio (All Time) Calculated using the full available price history	3.69	-0.03	+3.72

Drawdowns

RKLX vs. METE.TO - Drawdown Comparison

The maximum RKLX drawdown since its inception was -71.71%, which is greater than METE.TO's maximum drawdown of -38.63%. Use the drawdown chart below to compare losses from any high point for RKLX and METE.TO.

Drawdown Indicators

	RKLX	METE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-71.71%	-38.63%	-33.08%
Max Drawdown (1Y) Largest decline over 1 year	-71.71%	-36.03%	-35.68%
Current Drawdown Current decline from peak	-44.20%	-22.79%	-21.41%
Average Drawdown Average peak-to-trough decline	-25.90%	-15.34%	-10.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	36.65%	16.68%	+19.97%

Volatility

RKLX vs. METE.TO - Volatility Comparison

Defiance Daily Target 2X Long RKLB ETF (RKLX) has a higher volatility of 80.64% compared to Harvest Meta Enhanced High Income Shares ETF - Class A Units (METE.TO) at 9.81%. This indicates that RKLX's price experiences larger fluctuations and is considered to be riskier than METE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RKLX	METE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	80.64%	9.81%	+70.83%
Volatility (6M) Calculated over the trailing 6-month period	142.22%	28.78%	+113.44%
Volatility (1Y) Calculated over the trailing 1-year period	183.57%	37.12%	+146.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	181.89%	42.60%	+139.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	181.89%	42.60%	+139.29%

RKLX vs. METE.TO - Expense Ratio Comparison

RKLX has a 1.29% expense ratio, which is higher than METE.TO's 0.40% expense ratio.

Dividends

RKLX vs. METE.TO - Dividend Comparison

RKLX's dividend yield for the trailing twelve months is around 9.37%, less than METE.TO's 25.77% yield.

Position	TTM	2025
METE.TO Harvest Meta Enhanced High Income Shares ETF - Class A Units	25.77%	21.31%
RKLX Defiance Daily Target 2X Long RKLB ETF	9.37%	14.94%

Frequently Asked Questions

Can I hold both RKLX and METE.TO in my portfolio?

RKLX and METE.TO have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RKLX or METE.TO?

On fees, METE.TO is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RKLX or METE.TO?

METE.TO is cheaper with a 0.40% expense ratio, compared with 1.29% for RKLX.

What is the main difference between RKLX and METE.TO?

RKLX is categorized as Leveraged Equities, while METE.TO is Derivative Income. They also come from different issuers: Defiance and Harvest Portfolios Group. Their fees differ too: 1.29% for RKLX and 0.40% for METE.TO.