RKLZ vs. SPYT

Last updated Jun 26, 2026

RKLZ (Defiance Daily Target 2X Short RKLB ETF) and SPYT (Defiance S&P 500 Income Target ETF) are both exchange-traded funds - RKLZ is a Inverse Equities fund actively managed by Defiance, while SPYT is a Derivative Income fund actively managed by Defiance. Both are actively managed. At a correlation of -0.50, they often move in opposite directions. RKLZ charges 1.29%/yr vs 0.87%/yr for SPYT.

Performance

RKLZ vs. SPYT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Short RKLB ETF (RKLZ) and Defiance S&P 500 Income Target ETF (SPYT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RKLZ achieves a -89.18% return, which is significantly lower than SPYT's 7.09% return.

RKLZ

• 1D: 10.97%
• 1M: 137.97%
• YTD: -89.18%
• 6M: -87.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPYT

• 1D: -0.12%
• 1M: -2.17%
• YTD: 7.09%
• 6M: 6.13%
• 1Y: 18.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RKLZ vs. SPYT - Yearly Performance Comparison

	2026 (YTD)	2025
RKLZ Defiance Daily Target 2X Short RKLB ETF	-89.18%	-75.89%
SPYT Defiance S&P 500 Income Target ETF	7.09%	2.10%

Correlation

The correlation between RKLZ and SPYT is -0.50, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025	-0.50

Return for Risk

RKLZ vs. SPYT — Risk / Return Rank

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

RKLZ

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SPYT

SPYT Risk / Return Rank: 56
SPYT Sharpe Ratio Rank: 54
SPYT Sortino Ratio Rank: 52
SPYT Omega Ratio Rank: 59
SPYT Calmar Ratio Rank: 53
SPYT Martin Ratio Rank: 64

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.

RKLZ vs. SPYT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short RKLB ETF (RKLZ) and Defiance S&P 500 Income Target ETF (SPYT). 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	SPYT	Difference
Sharpe ratio: Return per unit of total volatility	—	1.60	—
Sortino ratio: Return per unit of downside risk	—	2.21	—
Omega ratio: Gain probability vs. loss probability	—	1.32	—
Calmar ratio: Return relative to maximum drawdown	—	2.29	—
Martin ratio: Return relative to average drawdown	—	10.05	—

Drawdowns

RKLZ vs. SPYT - Drawdown Comparison

The maximum RKLZ drawdown since its inception was -99.10%, which is greater than SPYT's maximum drawdown of -18.25%. Use the drawdown chart below to compare losses from any high point for RKLZ and SPYT.

Drawdown Indicators

	RKLZ	SPYT	Difference
Max Drawdown Largest peak-to-trough decline	-99.10%	-18.25%	-80.85%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.00%	—
Current Drawdown Current decline from peak	-97.63%	-3.04%	-94.59%
Average Drawdown Average peak-to-trough decline	-81.58%	-2.00%	-79.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.82%	—

Volatility

Volatility by Period

	RKLZ	SPYT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.49%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.20%	—
Volatility (1Y) Calculated over the trailing 1-year period	207.29%	11.43%	+195.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	207.29%	14.88%	+192.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	207.29%	14.88%	+192.41%

RKLZ vs. SPYT - Expense Ratio Comparison

RKLZ has a 1.29% expense ratio, which is higher than SPYT's 0.87% expense ratio.

Dividends

RKLZ vs. SPYT - Dividend Comparison

RKLZ has not paid dividends to shareholders, while SPYT's dividend yield for the trailing twelve months is around 21.23%.

Position	TTM	2025	2024
RKLZ Defiance Daily Target 2X Short RKLB ETF	0.00%	0.00%	0.00%
SPYT Defiance S&P 500 Income Target ETF	21.23%	21.40%	17.37%

Frequently Asked Questions

Can I hold both RKLZ and SPYT in my portfolio?

RKLZ and SPYT have a correlation of -0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RKLZ or SPYT?

On fees, SPYT is cheaper at 0.87% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RKLZ or SPYT?

SPYT is cheaper with a 0.87% expense ratio, compared with 1.29% for RKLZ.

Which ETF pays a higher dividend yield, RKLZ or SPYT?

SPYT has the higher dividend yield at 21.23%, compared with 0.00% for RKLZ.

What is the main difference between RKLZ and SPYT?

RKLZ is categorized as Inverse Equities, while SPYT is Derivative Income. Their fees differ too: 1.29% for RKLZ and 0.87% for SPYT.