XDSQ vs. IONX

Last updated Jun 23, 2026

XDSQ (Innovator US Equity Accelerated ETF) and IONX (Defiance Daily Target 2X Long IONQ ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, XDSQ returned 15.56% vs -32.00% for IONX. At a 0.41 correlation, their price movements are largely independent. XDSQ charges 0.79%/yr vs 1.31%/yr for IONX.

Performance

XDSQ vs. IONX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator US Equity Accelerated ETF (XDSQ) and Defiance Daily Target 2X Long IONQ ETF (IONX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XDSQ achieves a 3.09% return, which is significantly higher than IONX's -3.95% return.

XDSQ

• 1D: 0.07%
• 1M: 0.66%
• YTD: 3.09%
• 6M: 2.64%
• 1Y: 15.56%
• 3Y*: 14.48%
• 5Y*: 9.70%
• 10Y*: —

IONX

• 1D: 6.60%
• 1M: -23.74%
• YTD: -3.95%
• 6M: -34.32%
• 1Y: -32.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XDSQ vs. IONX - Yearly Performance Comparison

	2026 (YTD)	2025
XDSQ Innovator US Equity Accelerated ETF	3.09%	20.13%
IONX Defiance Daily Target 2X Long IONQ ETF	-3.95%	80.91%

Correlation

The correlation between XDSQ and IONX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (All Time) Calculated using the full available price history since Mar 12, 2025	0.41

XDSQ vs. IONX - Sectors Allocation Comparison

Sectors	XDSQ	IONX
Technology	39.1%	100.0%
Financial Services	10.9%	-
Communication Services	10.7%	-
Consumer Cyclical	9.9%	-
Healthcare	8.3%	-
Industrials	7.8%	-
Consumer Defensive	4.5%	-
Energy	3.1%	-
Utilities	2.1%	-
Real Estate	1.8%	-
Basic Materials	1.7%	-

Return for Risk

XDSQ vs. IONX — Risk / Return Rank

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

XDSQ

XDSQ Risk / Return Rank: 43
XDSQ Sharpe Ratio Rank: 44
XDSQ Sortino Ratio Rank: 41
XDSQ Omega Ratio Rank: 50
XDSQ Calmar Ratio Rank: 33
XDSQ Martin Ratio Rank: 48

IONX

IONX Risk / Return Rank: 12
IONX Sharpe Ratio Rank: 7
IONX Sortino Ratio Rank: 20
IONX Omega Ratio Rank: 18
IONX Calmar Ratio Rank: 6
IONX Martin Ratio Rank: 6

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.

XDSQ vs. IONX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator US Equity Accelerated ETF (XDSQ) and Defiance Daily Target 2X Long IONQ ETF (IONX). 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.

	XDSQ	IONX	Difference
Sharpe ratio: Return per unit of total volatility	1.49	-0.17	+1.66
Sortino ratio: Return per unit of downside risk	2.05	1.10	+0.95
Omega ratio: Gain probability vs. loss probability	1.31	1.12	+0.19
Calmar ratio: Return relative to maximum drawdown	1.63	-0.34	+1.97
Martin ratio: Return relative to average drawdown	7.76	-0.49	+8.26

XDSQ vs. IONX - Sharpe Ratio Comparison

The current XDSQ Sharpe Ratio is 1.49, which is higher than the IONX Sharpe Ratio of -0.17. The chart below compares the historical Sharpe Ratios of XDSQ and IONX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XDSQ vs. IONX - Drawdown Comparison

The maximum XDSQ drawdown since its inception was -26.06%, smaller than the maximum IONX drawdown of -93.75%. Use the drawdown chart below to compare losses from any high point for XDSQ and IONX.

Drawdown Indicators

	XDSQ	IONX	Difference
Max Drawdown Largest peak-to-trough decline	-26.06%	-93.75%	+67.69%
Max Drawdown (1Y) Largest decline over 1 year	-9.60%	-93.75%	+84.15%
Max Drawdown (3Y) Largest decline over 3 years	-19.15%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.06%	—	—
Current Drawdown Current decline from peak	0.00%	-78.10%	+78.10%
Average Drawdown Average peak-to-trough decline	-4.92%	-50.62%	+45.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	64.77%	-62.76%

Volatility

XDSQ vs. IONX - Volatility Comparison

The current volatility for Innovator US Equity Accelerated ETF (XDSQ) is 0.61%, while Defiance Daily Target 2X Long IONQ ETF (IONX) has a volatility of 60.94%. This indicates that XDSQ experiences smaller price fluctuations and is considered to be less risky than IONX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XDSQ	IONX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.61%	60.94%	-60.33%
Volatility (6M) Calculated over the trailing 6-month period	8.16%	133.89%	-125.73%
Volatility (1Y) Calculated over the trailing 1-year period	10.52%	186.18%	-175.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.28%	199.51%	-184.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.03%	199.51%	-184.48%

XDSQ vs. IONX - Expense Ratio Comparison

XDSQ has a 0.79% expense ratio, which is lower than IONX's 1.31% expense ratio.

Dividends

XDSQ vs. IONX - Dividend Comparison

XDSQ has not paid dividends to shareholders, while IONX's dividend yield for the trailing twelve months is around 2.65%.

Position	TTM	2025
IONX Defiance Daily Target 2X Long IONQ ETF	2.65%	2.55%
XDSQ Innovator US Equity Accelerated ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both XDSQ and IONX in my portfolio?

XDSQ and IONX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XDSQ or IONX?

IONX has higher volatility (60.94%) compared to XDSQ (0.61%). In terms of maximum drawdown, XDSQ dropped -26.06% vs IONX's -93.75%.

Which ETF is better, XDSQ or IONX?

On 1-year performance, XDSQ leads with 15.56% vs -32.00% for IONX. On fees, XDSQ is cheaper at 0.79% per year. On volatility, XDSQ has been the lower-risk option at 0.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XDSQ or IONX?

Over the 1-year period, XDSQ has performed better with a 15.56% return vs -32.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XDSQ or IONX?

XDSQ is cheaper with a 0.79% expense ratio, compared with 1.31% for IONX.

Which ETF pays a higher dividend yield, XDSQ or IONX?

IONX has the higher dividend yield at 2.65%, compared with 0.00% for XDSQ.

What is the main difference between XDSQ and IONX?

They also come from different issuers: Innovator and Defiance. Their fees differ too: 0.79% for XDSQ and 1.31% for IONX.

Which has better risk-adjusted returns?

XDSQ currently has the higher Sharpe Ratio (1.49 vs -0.17), 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.