RKLZ vs. SEF
RKLZ (Defiance Daily Target 2X Short RKLB ETF) and SEF (ProShares Short Financials) are both Inverse Equities funds. RKLZ is actively managed, while SEF is passively managed. At a 0.28 correlation, their price movements are largely independent. RKLZ charges 1.29%/yr vs 0.95%/yr for SEF.
Performance
RKLZ vs. SEF - 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 SEF's 3.69% return.
RKLZ
- 1D
- 10.97%
- 1M
- 137.97%
- YTD
- -89.18%
- 6M
- -87.03%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SEF
- 1D
- 0.58%
- 1M
- -2.84%
- YTD
- 3.69%
- 6M
- 5.55%
- 1Y
- -0.67%
- 3Y*
- -11.90%
- 5Y*
- -6.42%
- 10Y*
- -12.61%
RKLZ vs. SEF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
RKLZ Defiance Daily Target 2X Short RKLB ETF | -89.18% | -75.89% |
SEF ProShares Short Financials | 3.69% | -5.87% |
Correlation
The correlation between RKLZ and SEF is 0.28, 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 | 0.28 |
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Return for Risk
RKLZ vs. SEF — Risk / Return Rank
RKLZ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SEF
RKLZ vs. SEF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short RKLB ETF (RKLZ) and ProShares Short Financials (SEF). 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 | SEF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.00 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.06 | — |
| Martin ratioReturn relative to average drawdown | — | -0.14 | — |
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Drawdowns
RKLZ vs. SEF - Drawdown Comparison
The maximum RKLZ drawdown since its inception was -99.10%, roughly equal to the maximum SEF drawdown of -96.51%. Use the drawdown chart below to compare losses from any high point for RKLZ and SEF.
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Drawdown Indicators
| RKLZ | SEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.10% | -96.51% | -2.59% |
Max Drawdown (1Y)Largest decline over 1 year | — | -11.14% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -39.40% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -41.62% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.07% | — |
Current DrawdownCurrent decline from peak | -97.63% | -96.28% | -1.35% |
Average DrawdownAverage peak-to-trough decline | -81.58% | -82.74% | +1.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 4.79% | — |
Volatility
RKLZ vs. SEF - Volatility Comparison
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Volatility by Period
| RKLZ | SEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.12% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 11.10% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 207.29% | 14.39% | +192.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 207.29% | 17.97% | +189.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 207.29% | 20.48% | +186.81% |
RKLZ vs. SEF - Expense Ratio Comparison
RKLZ has a 1.29% expense ratio, which is higher than SEF's 0.95% expense ratio.
Dividends
RKLZ vs. SEF - Dividend Comparison
RKLZ has not paid dividends to shareholders, while SEF's dividend yield for the trailing twelve months is around 3.24%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
RKLZ Defiance Daily Target 2X Short RKLB ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SEF ProShares Short Financials | 3.24% | 4.33% | 5.72% | 4.43% | 0.39% | 0.00% | 0.12% | 1.25% | 0.41% |
Frequently Asked Questions
RKLZ and SEF have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SEF is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SEF is cheaper with a 0.95% expense ratio, compared with 1.29% for RKLZ.
SEF has the higher dividend yield at 3.24%, compared with 0.00% for RKLZ.
They also come from different issuers: Defiance and ProShares. Their fees differ too: 1.29% for RKLZ and 0.95% for SEF.
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