RKLZ vs. CARD
RKLZ (Defiance Daily Target 2X Short RKLB ETF) and CARD (Max Auto Industry -3X Inverse Leveraged ETN) are both Inverse Equities funds. RKLZ is actively managed, while CARD is passively managed. At a 0.45 correlation, their price movements are largely independent. RKLZ charges 1.29%/yr vs 0.95%/yr for CARD.
Performance
RKLZ vs. CARD - Performance Comparison
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Returns By Period
In the year-to-date period, RKLZ achieves a -89.18% return, which is significantly lower than CARD's 4.05% return.
RKLZ
- 1D
- 10.97%
- 1M
- 137.97%
- YTD
- -89.18%
- 6M
- -87.03%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CARD
- 1D
- 0.59%
- 1M
- 2.67%
- YTD
- 4.05%
- 6M
- 16.62%
- 1Y
- -35.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
RKLZ vs. CARD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
RKLZ Defiance Daily Target 2X Short RKLB ETF | -89.18% | -75.89% |
CARD Max Auto Industry -3X Inverse Leveraged ETN | 4.05% | -23.35% |
Correlation
The correlation between RKLZ and CARD is 0.45, 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 Nov 18, 2025 | 0.45 |
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Return for Risk
RKLZ vs. CARD — Risk / Return Rank
RKLZ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CARD
RKLZ vs. CARD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short RKLB ETF (RKLZ) and Max Auto Industry -3X Inverse Leveraged ETN (CARD). 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.
| RKLZ | CARD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.96 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.77 | — |
| Martin ratioReturn relative to average drawdown | — | -1.14 | — |
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Drawdowns
RKLZ vs. CARD - Drawdown Comparison
The maximum RKLZ drawdown since its inception was -99.10%, which is greater than CARD's maximum drawdown of -93.51%. Use the drawdown chart below to compare losses from any high point for RKLZ and CARD.
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Drawdown Indicators
| RKLZ | CARD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.10% | -93.51% | -5.59% |
Max Drawdown (1Y)Largest decline over 1 year | — | -46.11% | — |
Current DrawdownCurrent decline from peak | -97.63% | -92.18% | -5.45% |
Average DrawdownAverage peak-to-trough decline | -81.58% | -68.77% | -12.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 31.66% | — |
Volatility
RKLZ vs. CARD - Volatility Comparison
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Volatility by Period
| RKLZ | CARD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 23.66% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 52.57% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 207.29% | 70.15% | +137.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 207.29% | 80.64% | +126.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 207.29% | 80.64% | +126.65% |
RKLZ vs. CARD - Expense Ratio Comparison
RKLZ has a 1.29% expense ratio, which is higher than CARD's 0.95% expense ratio.
Dividends
RKLZ vs. CARD - Dividend Comparison
Neither RKLZ nor CARD has paid dividends to shareholders.
Frequently Asked Questions
RKLZ and CARD have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CARD is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CARD is cheaper with a 0.95% expense ratio, compared with 1.29% for RKLZ.
RKLZ and CARD have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Defiance and Max. Their fees differ too: 1.29% for RKLZ and 0.95% for CARD.
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