RKLZ vs. FLYD
RKLZ (Defiance Daily Target 2X Short RKLB ETF) and FLYD (MicroSectors Travel -3X Inverse Leveraged ETNs) are both Inverse Equities funds. RKLZ is actively managed, while FLYD is passively managed. At a 0.32 correlation, their price movements are largely independent. RKLZ charges 1.29%/yr vs 0.95%/yr for FLYD.
Performance
RKLZ vs. FLYD - Performance Comparison
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Returns By Period
In the year-to-date period, RKLZ achieves a -92.66% return, which is significantly lower than FLYD's -25.81% return.
RKLZ
- 1D
- 13.11%
- 1M
- 43.13%
- YTD
- -92.66%
- 6M
- -91.14%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FLYD
- 1D
- 3.14%
- 1M
- -24.23%
- YTD
- -25.81%
- 6M
- -19.69%
- 1Y
- -57.21%
- 3Y*
- -55.32%
- 5Y*
- —
- 10Y*
- —
RKLZ vs. FLYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
RKLZ Defiance Daily Target 2X Short RKLB ETF | -92.66% | -75.89% |
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs | -25.81% | -26.47% |
Correlation
The correlation between RKLZ and FLYD is 0.32, 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 | 0.32 |
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Return for Risk
RKLZ vs. FLYD — Risk / Return Rank
RKLZ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FLYD
RKLZ vs. FLYD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short RKLB ETF (RKLZ) and MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD). 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 | FLYD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.89 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -1.01 | — |
| Martin ratioReturn relative to average drawdown | — | -1.69 | — |
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Drawdowns
RKLZ vs. FLYD - Drawdown Comparison
The maximum RKLZ drawdown since its inception was -99.10%, roughly equal to the maximum FLYD drawdown of -98.34%. Use the drawdown chart below to compare losses from any high point for RKLZ and FLYD.
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Drawdown Indicators
| RKLZ | FLYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.10% | -98.34% | -0.76% |
Max Drawdown (1Y)Largest decline over 1 year | — | -57.02% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -94.22% | — |
Current DrawdownCurrent decline from peak | -98.39% | -98.29% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -81.24% | -83.22% | +1.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 36.12% | — |
Volatility
RKLZ vs. FLYD - Volatility Comparison
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Volatility by Period
| RKLZ | FLYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 24.54% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 62.41% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 206.15% | 75.93% | +130.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 206.15% | 83.81% | +122.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 206.15% | 83.81% | +122.34% |
RKLZ vs. FLYD - Expense Ratio Comparison
RKLZ has a 1.29% expense ratio, which is higher than FLYD's 0.95% expense ratio.
Dividends
RKLZ vs. FLYD - Dividend Comparison
Neither RKLZ nor FLYD has paid dividends to shareholders.
Frequently Asked Questions
RKLZ and FLYD have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLYD is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLYD is cheaper with a 0.95% expense ratio, compared with 1.29% for RKLZ.
RKLZ and FLYD have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Defiance and REX. Their fees differ too: 1.29% for RKLZ and 0.95% for FLYD.
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