ZETX vs. USGG

Last updated Jul 22, 2026

ZETX (Defiance Daily Target 2X Long ZETA ETF) and USGG (Leverage Shares 2X Long USAR Daily ETF) are both Leveraged Equities funds. ZETX is actively managed, while USGG is passively managed. At a 0.32 correlation, their price movements are largely independent. ZETX charges 1.31%/yr vs 0.75%/yr for USGG.

Performance

ZETX vs. USGG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long ZETA ETF (ZETX) and Leverage Shares 2X Long USAR Daily ETF (USGG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZETX

• 1D: -1.47%
• 1M: 20.66%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

USGG

• 1D: 8.06%
• 1M: -61.33%
• 6M: -64.89%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

ZETX vs. USGG - Yearly Performance Comparison

	2026 (YTD)
ZETX Defiance Daily Target 2X Long ZETA ETF	14.36%
USGG Leverage Shares 2X Long USAR Daily ETF	-79.21%

Correlation

The correlation between ZETX and USGG is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 4, 2026	0.32

Return for Risk

ZETX vs. USGG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long ZETA ETF (ZETX) and Leverage Shares 2X Long USAR Daily ETF (USGG). 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

ZETX vs. USGG - Drawdown Comparison

The maximum ZETX drawdown since its inception was -52.42%, smaller than the maximum USGG drawdown of -82.76%. Use the drawdown chart below to compare losses from any high point for ZETX and USGG.

Drawdown Indicators

	ZETX	USGG	Difference
Max Drawdown Largest peak-to-trough decline	-52.42%	-82.76%	+30.34%
Current Drawdown Current decline from peak	-35.13%	-81.37%	+46.24%
Average Drawdown Average peak-to-trough decline	-23.67%	-50.82%	+27.15%

Volatility

Volatility by Period

	ZETX	USGG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	136.94%	215.91%	-78.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	136.94%	215.91%	-78.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	136.94%	215.91%	-78.97%

ZETX vs. USGG - Expense Ratio Comparison

ZETX has a 1.31% expense ratio, which is higher than USGG's 0.75% expense ratio.

Dividends

ZETX vs. USGG - Dividend Comparison

Neither ZETX nor USGG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ZETX and USGG in my portfolio?

ZETX and USGG have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZETX or USGG?

On fees, USGG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZETX or USGG?

USGG is cheaper with a 0.75% expense ratio, compared with 1.31% for ZETX.

Which ETF pays a higher dividend yield, ZETX or USGG?

ZETX and USGG have nearly identical dividend yields, around 0.00%.

What is the main difference between ZETX and USGG?

They also come from different issuers: Defiance and Leverage Shares. Their fees differ too: 1.31% for ZETX and 0.75% for USGG.