IONZ vs SPY
Defiance Daily Target 2X Short IONQ ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, IONZ or SPY?
Trading-Inverse Equity against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | IONZ | SPY |
|---|---|---|
| Expense Ratio | 1.29% | 0.09%Best |
| AUM | $1M | $804.7B |
| Dividend Yield | 0.00% | 0.98% |
| Holdings | 16 | 505 |
| YTD Return | +51.08%Best | +11.52% |
| 1Y Return | -58.84% | +17.48%Best |
| 3Y Return (annualized) | - | +20.62% |
| 5Y Return (annualized) | - | +12.73% |
| Volatility (annualized) | 915.6% | 12.0%Best |
| Max Drawdown | -98.7% | -8.9%Best |
| $10,000 over 1.2 years | $2,598 | $12,596Best |
| Fund Family | Defiance ETFs, LLC | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Trading-Inverse Equity | Large Cap Blend |
| Inception | Jun 23, 2025 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.2 years row, are measured over the window both funds cover: Jun 24, 2025 to Sep 10, 2026 (1.2 years).
IONZ vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.2 years both funds cover.
IONZ vs SPY Performance
Defiance Daily Target 2X Short IONQ ETF (IONZ) is an ETF from Defiance ETFs, LLC and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year IONZ returned -58.84% while SPY returned +17.48%. Year to date, IONZ is up 51.08% versus a gain of 11.52% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IONZ has been the more volatile fund, with annualized monthly volatility of 915.6% compared with 12.0% 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 -98.7% for IONZ and -8.9% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.34. They move together some of the time, and apart the rest.
Fees and Cost Over Time
IONZ 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, IONZ currently yields 0.00% against 0.98% for SPY.
You are not choosing between two funds in isolation.
Whichever of IONZ and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IONZ or SPY?
IONZ has an expense ratio of 1.29% while SPY charges 0.09%. SPY is the cheaper option, by $120 a year on a $10,000 investment.
Which performed better, IONZ or SPY?
Over the past year IONZ returned -58.84% vs +17.48% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), IONZ annualized -67.48% vs +21.21% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IONZ or SPY?
IONZ has been the more volatile fund at 915.6% annualized versus 12.0% for SPY. Worst drawdown: IONZ -98.7% vs SPY -8.9%.
Should I hold both IONZ and SPY?
IONZ and SPY have a monthly-return correlation of -0.34, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, IONZ or SPY?
IONZ yields 0.00% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than IONZ?
SPY has a lower expense ratio. SPY led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.