IONX vs SPY
Defiance Daily Target 2X Long IONQ ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | IONX | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.29% | 0.09% | |
| AUM | $110M | $789.1B | |
| Dividend Yield | 1.09% | 1.01% | |
| Holdings | 11 | 505 | |
| YTD Return | -54.28% | +13.68% | |
| 1Y Return | -65.87% | +21.53% | |
| 3Y Return (annualized) | - | +21.44% | |
| 5Y Return (annualized) | - | +13.18% | |
| Volatility (annualized) | 211.2% | 15.3% | |
| Max Drawdown | -94.0% | -56.5% | |
| Fund Family | Defiance ETFs, LLC | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Mar 11, 2025 | Jan 22, 1993 |
IONX vs SPY Performance
Defiance Daily Target 2X Long IONQ ETF (IONX) is a ETF from Defiance ETFs, LLC and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year IONX returned -65.87% while SPY returned +21.53%. Year to date, IONX is down 54.28% versus a gain of 13.68% for SPY.
Risk: Volatility and Drawdowns
IONX has been the more volatile fund, with annualized monthly volatility of 211.2% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -94.0% for IONX and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IONX charges 1.29% per year while SPY charges 0.09%. On a $10,000 position that is $129 vs $9 annually, a gap of $120 per year that compounds over a long holding period. On income, IONX currently yields 1.09% against 1.01% for SPY.
Holdings Overlap
IONX and SPY share 0 holdings out of 504 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IONX or SPY?
IONX has an expense ratio of 1.29% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $120 per year of difference.
Which performed better, IONX or SPY?
Over the past year IONX returned -65.87% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), IONX annualized -12.73% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, IONX or SPY?
IONX has been the more volatile fund at 211.2% annualized versus 15.3% for SPY. Worst drawdown: IONX -94.0% vs SPY -56.5%.
Should I hold both IONX and SPY?
IONX and SPY have a monthly-return correlation of 0.78, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IONX and SPY?
IONX and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, IONX or SPY?
IONX yields 1.09% while SPY yields 1.01%, so IONX currently pays the higher dividend yield.
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