ZETX vs. XMAG

Last updated Jul 24, 2026

ZETX (Defiance Daily Target 2X Long ZETA ETF) and XMAG (Defiance Large Cap ex-Mag 7 ETF) are both exchange-traded funds - ZETX is a Leveraged Equities fund actively managed by Defiance, while XMAG is a Large Cap Blend Equities fund tracking the BITA US 500 ex Magnificent 7 Index. ZETX is actively managed, while XMAG is passively managed. At a 0.37 correlation, their price movements are largely independent. ZETX charges 1.31%/yr vs 0.35%/yr for XMAG.

Performance

ZETX vs. XMAG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long ZETA ETF (ZETX) and Defiance Large Cap ex-Mag 7 ETF (XMAG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZETX

• 1D: -8.91%
• 1M: -6.45%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

XMAG

• 1D: -0.40%
• 1M: -0.04%
• 6M: 10.50%
• YTD: 12.71%
• 1Y: 18.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.33%

*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)
XMAG Defiance Large Cap ex-Mag 7 ETF	$3.69M	$3.76M	$1.89M
ZETX Defiance Daily Target 2X Long ZETA ETF	$583.26K	$1.08M	$1.15M

ZETX vs. XMAG - Yearly Performance Comparison

	2026 (YTD)
ZETX Defiance Daily Target 2X Long ZETA ETF	-5.01%
XMAG Defiance Large Cap ex-Mag 7 ETF	10.65%

Correlation

The correlation between ZETX and XMAG is 0.37, 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	0.37

Return for Risk

ZETX vs. XMAG — Risk / Return Rank

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

ZETX

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

XMAG

XMAG Risk / Return Rank: 67
XMAG Sharpe Ratio Rank: 64
XMAG Sortino Ratio Rank: 66
XMAG Omega Ratio Rank: 59
XMAG Calmar Ratio Rank: 68
XMAG Martin Ratio Rank: 78

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.

ZETX vs. XMAG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long ZETA ETF (ZETX) and Defiance Large Cap ex-Mag 7 ETF (XMAG). 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.

	ZETX	XMAG	Difference
Sharpe ratio: Return per unit of total volatility	—	1.59	—
Sortino ratio: Return per unit of downside risk	—	2.32	—
Omega ratio: Gain probability vs. loss probability	—	1.27	—
Calmar ratio: Return relative to maximum drawdown	—	2.59	—
Martin ratio: Return relative to average drawdown	—	10.88	—

Drawdowns

ZETX vs. XMAG - Drawdown Comparison

The maximum ZETX drawdown since its inception was -52.42%, which is greater than XMAG's maximum drawdown of -16.17%. Use the drawdown chart below to compare losses from any high point for ZETX and XMAG.

Drawdown Indicators

	ZETX	XMAG	Difference
Max Drawdown Largest peak-to-trough decline	-52.42%	-16.17%	-36.25%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.29%	—
Current Drawdown Current decline from peak	-46.12%	-2.46%	-43.66%
Average Drawdown Average peak-to-trough decline	-24.01%	-2.06%	-21.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.73%	—

Volatility

Volatility by Period

	ZETX	XMAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.45%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.41%	—
Volatility (1Y) Calculated over the trailing 1-year period	137.11%	11.91%	+125.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	137.11%	15.04%	+122.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	137.11%	15.04%	+122.07%

ZETX vs. XMAG - Expense Ratio Comparison

ZETX has a 1.31% expense ratio, which is higher than XMAG's 0.35% expense ratio.

Dividends

ZETX vs. XMAG - Dividend Comparison

ZETX has not paid dividends to shareholders, while XMAG's dividend yield for the trailing twelve months is around 0.46%.

Position	TTM	2025	2024
XMAG Defiance Large Cap ex-Mag 7 ETF	0.46%	0.51%	0.24%
ZETX Defiance Daily Target 2X Long ZETA ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZETX and XMAG in my portfolio?

ZETX and XMAG have a correlation of 0.37, 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 XMAG?

On fees, XMAG is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZETX or XMAG?

XMAG is cheaper with a 0.35% expense ratio, compared with 1.31% for ZETX.

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

XMAG has the higher dividend yield at 0.46%, compared with 0.00% for ZETX.

What is the main difference between ZETX and XMAG?

ZETX is categorized as Leveraged Equities, while XMAG is Large Cap Blend Equities. Their fees differ too: 1.31% for ZETX and 0.35% for XMAG.