SOUX vs. IWMY

Last updated Jun 4, 2026

SOUX (Defiance Daily Target 2X Long SOUN ETF) and IWMY (Defiance R2000 Enhanced Options & 0DTE Income ETF) are both exchange-traded funds - SOUX is a Leveraged Equities fund managed by Defiance, while IWMY is a Options Trading fund tracking the Russell 2000 Index. A 0.50 correlation means they provide meaningful diversification when combined. SOUX charges 1.29%/yr vs 0.99%/yr for IWMY.

Performance

SOUX vs. IWMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long SOUN ETF (SOUX) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SOUX achieves a -56.02% return, which is significantly lower than IWMY's 12.25% return.

SOUX

• 1D: -17.03%
• 1M: -32.26%
• YTD: -56.02%
• 6M: -70.56%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IWMY

• 1D: -1.36%
• 1M: 3.06%
• YTD: 12.25%
• 6M: 10.99%
• 1Y: 23.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SOUX vs. IWMY - Yearly Performance Comparison

	2026 (YTD)	2025
SOUX Defiance Daily Target 2X Long SOUN ETF	-56.02%	-40.03%
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	12.25%	5.54%

Correlation

The correlation between SOUX and IWMY is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025	0.50

Return for Risk

SOUX vs. IWMY — Risk / Return Rank

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

IWMY

IWMY Risk / Return Rank: 40
IWMY Sharpe Ratio Rank: 42
IWMY Sortino Ratio Rank: 38
IWMY Omega Ratio Rank: 39
IWMY Calmar Ratio Rank: 41
IWMY Martin Ratio Rank: 41

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.

SOUX vs. IWMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long SOUN ETF (SOUX) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY). 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.

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

Sharpe Ratios by Period

	SOUX	IWMY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.46	0.95	-1.42

Drawdowns

SOUX vs. IWMY - Drawdown Comparison

The maximum SOUX drawdown since its inception was -95.03%, which is greater than IWMY's maximum drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for SOUX and IWMY.

Drawdown Indicators

	SOUX	IWMY	Difference
Max Drawdown Largest peak-to-trough decline	-95.03%	-18.72%	-76.31%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.57%	—
Current Drawdown Current decline from peak	-92.24%	-1.36%	-90.88%
Average Drawdown Average peak-to-trough decline	-59.54%	-2.98%	-56.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.51%	—

Volatility

Volatility by Period

	SOUX	IWMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.42%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.62%	—
Volatility (1Y) Calculated over the trailing 1-year period	163.45%	15.69%	+147.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	163.45%	15.75%	+147.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	163.45%	15.75%	+147.70%

SOUX vs. IWMY - Expense Ratio Comparison

SOUX has a 1.29% expense ratio, which is higher than IWMY's 0.99% expense ratio.

Dividends

SOUX vs. IWMY - Dividend Comparison

SOUX's dividend yield for the trailing twelve months is around 46.14%, which matches IWMY's 45.96% yield.

Position	TTM	2025	2024	2023
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	45.96%	63.33%	107.92%	11.34%
SOUX Defiance Daily Target 2X Long SOUN ETF	46.14%	20.29%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SOUX and IWMY in my portfolio?

SOUX and IWMY 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, SOUX or IWMY?

On fees, IWMY is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SOUX or IWMY?

IWMY is cheaper with a 0.99% expense ratio, compared with 1.29% for SOUX.

Which ETF pays a higher dividend yield, SOUX or IWMY?

SOUX has the higher dividend yield at 46.14%, compared with 45.96% for IWMY.

What is the main difference between SOUX and IWMY?

SOUX is categorized as Leveraged Equities, while IWMY is Options Trading. Their fees differ too: 1.29% for SOUX and 0.99% for IWMY.