USAX vs. AAOX

Last updated Aug 1, 2026

USAX (Tradr 2X Long USAR Daily ETF) and AAOX (Tradr 2X Long AAOI Daily ETF) are both Leveraged Equities funds from Tradr - USAX tracks the USA Rare Earth, Inc. (USAR) while AAOX tracks the Applied Optoelectronics, Inc. (AAOI). Both are passively managed. Their 0.46 correlation means their historical movements had little consistent relationship. Both charge a 1.49% expense ratio.

Performance

USAX vs. AAOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long USAR Daily ETF (USAX) and Tradr 2X Long AAOI Daily ETF (AAOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

USAX

• 1D: 4.61%
• 1M: -43.31%
• 6M: -76.33%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

AAOX

• 1D: 9.47%
• 1M: -48.97%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AAOX Tradr 2X Long AAOI Daily ETF	$74.06M	$85.47M	$246.24M
USAX Tradr 2X Long USAR Daily ETF	$757.62K	$934.11K	$3.07M

USAX vs. AAOX - Yearly Performance Comparison

	2026 (YTD)
USAX Tradr 2X Long USAR Daily ETF	-51.20%
AAOX Tradr 2X Long AAOI Daily ETF	-59.23%

Correlation

The correlation between USAX and AAOX is 0.46, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 24, 2026	0.46

Return for Risk

USAX vs. AAOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long USAR Daily ETF (USAX) and Tradr 2X Long AAOI Daily ETF (AAOX). 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.

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

Drawdowns

USAX vs. AAOX - Drawdown Comparison

The maximum USAX drawdown since its inception was -87.42%, smaller than the maximum AAOX drawdown of -92.64%. Use the drawdown chart below to compare losses from any high point for USAX and AAOX.

Drawdown Indicators

	USAX	AAOX	Difference
Max Drawdown Largest peak-to-trough decline	-87.42%	-92.64%	+5.22%
Current Drawdown Current decline from peak	-83.73%	-89.09%	+5.36%
Average Drawdown Average peak-to-trough decline	-52.72%	-42.84%	-9.88%

Volatility

Volatility by Period

	USAX	AAOX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	215.51%	294.73%	-79.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	215.51%	294.73%	-79.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	215.51%	294.73%	-79.22%

USAX vs. AAOX - Expense Ratio Comparison

Both USAX and AAOX have an expense ratio of 1.49%.

Dividends

USAX vs. AAOX - Dividend Comparison

Neither USAX nor AAOX has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both USAX and AAOX in my portfolio?

USAX and AAOX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USAX or AAOX?

Both ETFs have the same 1.49% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USAX or AAOX?

USAX and AAOX have the same expense ratio: 1.49% per year.

Which ETF pays a higher dividend yield, USAX or AAOX?

USAX and AAOX have nearly identical dividend yields, around 0.00%.

What is the main difference between USAX and AAOX?

USAX tracks USA Rare Earth, Inc. (USAR), while AAOX tracks Applied Optoelectronics, Inc. (AAOI).