SOFX vs. GEMG

Last updated Jun 24, 2026

SOFX (Defiance Daily Target 2X Long SOFI ETF) and GEMG (Leverage Shares 2X Long GEMI Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.47 correlation, their price movements are largely independent. SOFX charges 1.29%/yr vs 0.75%/yr for GEMG.

Performance

SOFX vs. GEMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long SOFI ETF (SOFX) and Leverage Shares 2X Long GEMI Daily ETF (GEMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SOFX achieves a -66.17% return, which is significantly higher than GEMG's -89.02% return.

SOFX

• 1D: 2.02%
• 1M: 16.48%
• YTD: -66.17%
• 6M: -68.88%
• 1Y: -26.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GEMG

• 1D: -6.14%
• 1M: -33.52%
• YTD: -89.02%
• 6M: -91.24%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SOFX vs. GEMG - Yearly Performance Comparison

	2026 (YTD)	2025
SOFX Defiance Daily Target 2X Long SOFI ETF	-66.17%	-28.64%
GEMG Leverage Shares 2X Long GEMI Daily ETF	-89.02%	-71.91%

Correlation

The correlation between SOFX and GEMG is 0.47, 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 5, 2025	0.47

Return for Risk

SOFX vs. GEMG — Risk / Return Rank

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

SOFX

SOFX Risk / Return Rank: 8
SOFX Sharpe Ratio Rank: 7
SOFX Sortino Ratio Rank: 11
SOFX Omega Ratio Rank: 11
SOFX Calmar Ratio Rank: 6
SOFX Martin Ratio Rank: 7

GEMG

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

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.

SOFX vs. GEMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long SOFI ETF (SOFX) and Leverage Shares 2X Long GEMI Daily ETF (GEMG). 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.

	SOFX	GEMG	Difference
Sharpe ratio: Return per unit of total volatility	-0.24	—	—
Sortino ratio: Return per unit of downside risk	0.41	—	—
Omega ratio: Gain probability vs. loss probability	1.05	—	—
Calmar ratio: Return relative to maximum drawdown	-0.32	—	—
Martin ratio: Return relative to average drawdown	-0.52	—	—

Drawdowns

SOFX vs. GEMG - Drawdown Comparison

The maximum SOFX drawdown since its inception was -83.23%, smaller than the maximum GEMG drawdown of -97.26%. Use the drawdown chart below to compare losses from any high point for SOFX and GEMG.

Drawdown Indicators

	SOFX	GEMG	Difference
Max Drawdown Largest peak-to-trough decline	-83.23%	-97.26%	+14.03%
Max Drawdown (1Y) Largest decline over 1 year	-83.23%	—	—
Current Drawdown Current decline from peak	-79.50%	-97.10%	+17.60%
Average Drawdown Average peak-to-trough decline	-43.58%	-81.17%	+37.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	50.68%	—	—

Volatility

Volatility by Period

	SOFX	GEMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	35.21%	—	—
Volatility (6M) Calculated over the trailing 6-month period	78.17%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	111.51%	219.33%	-107.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	121.86%	219.33%	-97.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	121.86%	219.33%	-97.47%

SOFX vs. GEMG - Expense Ratio Comparison

SOFX has a 1.29% expense ratio, which is higher than GEMG's 0.75% expense ratio.

Dividends

SOFX vs. GEMG - Dividend Comparison

SOFX's dividend yield for the trailing twelve months is around 37.44%, while GEMG has not paid dividends to shareholders.

Position	TTM	2025
GEMG Leverage Shares 2X Long GEMI Daily ETF	0.00%	0.00%
SOFX Defiance Daily Target 2X Long SOFI ETF	37.44%	12.67%

Frequently Asked Questions

Can I hold both SOFX and GEMG in my portfolio?

SOFX and GEMG have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SOFX or GEMG?

On fees, GEMG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SOFX or GEMG?

GEMG is cheaper with a 0.75% expense ratio, compared with 1.29% for SOFX.

Which ETF pays a higher dividend yield, SOFX or GEMG?

SOFX has the higher dividend yield at 37.44%, compared with 0.00% for GEMG.

What is the main difference between SOFX and GEMG?

They also come from different issuers: Defiance and Leverage Shares. Their fees differ too: 1.29% for SOFX and 0.75% for GEMG.