SOFX vs. SPYT

Last updated Jun 4, 2026

SOFX (Defiance Daily Target 2X Long SOFI ETF) and SPYT (Defiance S&P 500 Income Target ETF) are both exchange-traded funds - SOFX is a Leveraged Equities fund actively managed by Defiance, while SPYT is a Derivative Income fund actively managed by Defiance. Both are actively managed. Over the past year, SOFX returned -13.23% vs 23.29% for SPYT. A 0.57 correlation means they provide meaningful diversification when combined. SOFX charges 1.29%/yr vs 0.87%/yr for SPYT.

Performance

SOFX vs. SPYT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long SOFI ETF (SOFX) 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, SOFX achieves a -67.58% return, which is significantly lower than SPYT's 9.70% return.

SOFX

• 1D: -12.03%
• 1M: 1.43%
• YTD: -67.58%
• 6M: -74.61%
• 1Y: -13.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPYT

• 1D: -0.68%
• 1M: 3.81%
• YTD: 9.70%
• 6M: 9.51%
• 1Y: 23.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SOFX vs. SPYT - Yearly Performance Comparison

	2026 (YTD)	2025
SOFX Defiance Daily Target 2X Long SOFI ETF	-67.58%	44.42%
SPYT Defiance S&P 500 Income Target ETF	9.70%	11.53%

Correlation

The correlation between SOFX and SPYT is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (All Time) Calculated using the full available price history since Jan 17, 2025	0.57

The correlation between SOFX and SPYT has been stable across timeframes, ranging from 0.51 to 0.57 - a consistent structural relationship.

SOFX vs. SPYT - Sectors Allocation Comparison

Sectors	SOFX	SPYT
Financial Services	100.0%	11.9%
Basic Materials	-	1.8%
Communication Services	-	10.9%
Consumer Cyclical	-	10.1%
Consumer Defensive	-	4.9%
Energy	-	3.5%
Healthcare	-	8.4%
Industrials	-	8.1%
Real Estate	-	1.9%
Technology	-	36.2%
Utilities	-	2.3%

Return for Risk

SOFX vs. SPYT — Risk / Return Rank

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

SOFX

SOFX Risk / Return Rank: 10
SOFX Sharpe Ratio Rank: 8
SOFX Sortino Ratio Rank: 14
SOFX Omega Ratio Rank: 14
SOFX Calmar Ratio Rank: 8
SOFX Martin Ratio Rank: 8

SPYT

SPYT Risk / Return Rank: 65
SPYT Sharpe Ratio Rank: 63
SPYT Sortino Ratio Rank: 63
SPYT Omega Ratio Rank: 70
SPYT Calmar Ratio Rank: 58
SPYT Martin Ratio Rank: 72

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. SPYT - Risk-Adjusted Trends Comparison

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

	SOFX	SPYT	Difference
Sharpe ratio: Return per unit of total volatility	-0.12	2.16	-2.27
Sortino ratio: Return per unit of downside risk	0.62	2.98	-2.36
Omega ratio: Gain probability vs. loss probability	1.07	1.43	-0.35
Calmar ratio: Return relative to maximum drawdown	-0.16	2.93	-3.08
Martin ratio: Return relative to average drawdown	-0.28	13.59	-13.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SOFX vs. SPYT - Sharpe Ratio Comparison

The current SOFX Sharpe Ratio is -0.12, which is lower than the SPYT Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of SOFX and SPYT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SOFX	SPYT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.12	2.16	-2.27
Sharpe Ratio (All Time) Calculated using the full available price history	-0.35	1.08	-1.43

Drawdowns

SOFX vs. SPYT - Drawdown Comparison

The maximum SOFX drawdown since its inception was -83.23%, which is greater than SPYT's maximum drawdown of -18.25%. Use the drawdown chart below to compare losses from any high point for SOFX and SPYT.

Drawdown Indicators

	SOFX	SPYT	Difference
Max Drawdown Largest peak-to-trough decline	-83.23%	-18.25%	-64.98%
Max Drawdown (1Y) Largest decline over 1 year	-83.23%	-8.00%	-75.23%
Current Drawdown Current decline from peak	-80.35%	-0.68%	-79.67%
Average Drawdown Average peak-to-trough decline	-42.33%	-2.00%	-40.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	47.31%	1.72%	+45.59%

Volatility

SOFX vs. SPYT - Volatility Comparison

Defiance Daily Target 2X Long SOFI ETF (SOFX) has a higher volatility of 31.12% compared to Defiance S&P 500 Income Target ETF (SPYT) at 2.54%. This indicates that SOFX's price experiences larger fluctuations and is considered to be riskier than SPYT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOFX	SPYT	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.12%	2.54%	+28.58%
Volatility (6M) Calculated over the trailing 6-month period	77.48%	8.32%	+69.16%
Volatility (1Y) Calculated over the trailing 1-year period	111.80%	10.86%	+100.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	122.37%	14.80%	+107.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	122.37%	14.80%	+107.57%

SOFX vs. SPYT - Expense Ratio Comparison

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

Dividends

SOFX vs. SPYT - Dividend Comparison

SOFX's dividend yield for the trailing twelve months is around 39.07%, more than SPYT's 20.73% yield.

Position	TTM	2025	2024
SOFX Defiance Daily Target 2X Long SOFI ETF	39.07%	12.67%	0.00%
SPYT Defiance S&P 500 Income Target ETF	20.73%	21.40%	17.37%

Frequently Asked Questions

Can I hold both SOFX and SPYT in my portfolio?

SOFX and SPYT have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOFX or SPYT?

SOFX has higher volatility (31.12%) compared to SPYT (2.54%). In terms of maximum drawdown, SOFX dropped -83.23% vs SPYT's -18.25%.

Which ETF is better, SOFX or SPYT?

On 1-year performance, SPYT leads with 23.29% vs -13.23% for SOFX. On fees, SPYT is cheaper at 0.87% per year. On volatility, SPYT has been the lower-risk option at 2.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOFX or SPYT?

Over the 1-year period, SPYT has performed better with a 23.29% return vs -13.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOFX or SPYT?

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

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

SOFX has the higher dividend yield at 39.07%, compared with 20.73% for SPYT.

What is the main difference between SOFX and SPYT?

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

Which has better risk-adjusted returns?

SPYT currently has the higher Sharpe Ratio (2.16 vs -0.12), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.