XMAG vs. TOPT

Last updated Apr 1, 2026

Compare and contrast key facts about Defiance Large Cap ex-Mag 7 ETF (XMAG) and iShares Top 20 U.S. Stocks ETF (TOPT).

XMAG and TOPT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XMAG is a passively managed fund by Defiance that tracks the performance of the BITA US 500 ex Magnificent 7 Index. It was launched on Oct 21, 2024. TOPT is a passively managed fund by iShares that tracks the performance of the S&P 500 Top 20 Select Index. It was launched on Nov 23, 2024. Both XMAG and TOPT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XMAG vs. TOPT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Large Cap ex-Mag 7 ETF (XMAG) and iShares Top 20 U.S. Stocks ETF (TOPT). The values are adjusted to include any dividend payments, if applicable.

XMAG vs. TOPT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XMAG Defiance Large Cap ex-Mag 7 ETF	-1.56%	15.63%	-0.82%
TOPT iShares Top 20 U.S. Stocks ETF	-8.27%	20.35%	5.03%

Returns By Period

In the year-to-date period, XMAG achieves a -1.56% return, which is significantly higher than TOPT's -8.27% return.

XMAG

• 1D: 2.57%
• 1M: -4.91%
• YTD: -1.56%
• 6M: 0.82%
• 1Y: 13.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TOPT

• 1D: 3.55%
• 1M: -4.51%
• YTD: -8.27%
• 6M: -5.85%
• 1Y: 20.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XMAG vs. TOPT - Expense Ratio Comparison

XMAG has a 0.35% expense ratio, which is higher than TOPT's 0.20% expense ratio.

XMAG

Defiance Large Cap ex-Mag 7 ETF

TOPT

iShares Top 20 U.S. Stocks ETF

Return for Risk

XMAG vs. TOPT — Risk / Return Rank

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

XMAG

XMAG Risk / Return Rank: 54
XMAG Sharpe Ratio Rank: 48
XMAG Sortino Ratio Rank: 49
XMAG Omega Ratio Rank: 51
XMAG Calmar Ratio Rank: 55
XMAG Martin Ratio Rank: 67

TOPT

TOPT Risk / Return Rank: 65
TOPT Sharpe Ratio Rank: 60
TOPT Sortino Ratio Rank: 66
TOPT Omega Ratio Rank: 66
TOPT Calmar Ratio Rank: 67
TOPT Martin Ratio Rank: 64

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.

XMAG vs. TOPT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Large Cap ex-Mag 7 ETF (XMAG) and iShares Top 20 U.S. Stocks ETF (TOPT). 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.

	XMAG	TOPT	Difference
Sharpe ratio Return per unit of total volatility	0.82	1.00	-0.18
Sortino ratio Return per unit of downside risk	1.25	1.59	-0.34
Omega ratio Gain probability vs. loss probability	1.18	1.23	-0.04
Calmar ratio Return relative to maximum drawdown	1.29	1.60	-0.31
Martin ratio Return relative to average drawdown	6.26	5.87	+0.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XMAG vs. TOPT - Sharpe Ratio Comparison

The current XMAG Sharpe Ratio is 0.82, which is comparable to the TOPT Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of XMAG and TOPT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XMAG	TOPT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.82	1.00	-0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.54	-0.01

Correlation

The correlation between XMAG and TOPT is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

XMAG vs. TOPT - Dividend Comparison

XMAG's dividend yield for the trailing twelve months is around 0.52%, more than TOPT's 0.42% yield.

	TTM	2025	2024
XMAG Defiance Large Cap ex-Mag 7 ETF	0.52%	0.51%	0.24%
TOPT iShares Top 20 U.S. Stocks ETF	0.42%	0.38%	0.08%

Drawdowns

XMAG vs. TOPT - Drawdown Comparison

The maximum XMAG drawdown since its inception was -16.17%, smaller than the maximum TOPT drawdown of -21.21%. Use the drawdown chart below to compare losses from any high point for XMAG and TOPT.

Drawdown Indicators

	XMAG	TOPT	Difference
Max Drawdown Largest peak-to-trough decline	-16.17%	-21.21%	+5.04%
Max Drawdown (1Y) Largest decline over 1 year	-11.21%	-13.13%	+1.92%
Current Drawdown Current decline from peak	-4.91%	-10.05%	+5.14%
Average Drawdown Average peak-to-trough decline	-2.30%	-3.66%	+1.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.31%	3.59%	-1.28%

Volatility

XMAG vs. TOPT - Volatility Comparison

The current volatility for Defiance Large Cap ex-Mag 7 ETF (XMAG) is 4.64%, while iShares Top 20 U.S. Stocks ETF (TOPT) has a volatility of 5.86%. This indicates that XMAG experiences smaller price fluctuations and is considered to be less risky than TOPT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XMAG	TOPT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.64%	5.86%	-1.22%
Volatility (6M) Calculated over the trailing 6-month period	8.70%	10.59%	-1.89%
Volatility (1Y) Calculated over the trailing 1-year period	16.35%	20.69%	-4.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.48%	20.47%	-4.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.48%	20.47%	-4.99%