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IONX vs OKTG

Defiance Daily Target 2X Long IONQ ETF

IONXDNasdaq

Leverage Shares 2x Long OKTA Daily ETF

OKTGANasdaq

Overlap

Expense ratio

OKTG −0.63pt a year

IONX1.38%OKTG0.75%

Avg volume · 30D

IONX 29.3×the volume

IONX1.13MOKTG38.5K

IONX vs OKTG Performance

Dec 31, 2025 – Nov 2, 2026

−84.1%IONX+170.5%OKTG

Dec 31, 2025 to Nov 2, 2026. IONX −84.1%. OKTG +170.5%. Use the arrow keys to read each point.0%100%300%Dec 2025Jun 2026Nov 2026
Expense ratio
IONX 1.38%
OKTG 0.75%, better
Fund size
IONX $94M
OKTG $8M
1Y total return
IONX −93.3%
OKTG No data
Holdings
IONX 10
OKTG 6
Avg volume (30D)
IONX 1.13M sh, better
OKTG 38.5K sh
NAV per share
IONX $11.79
OKTG $53.95
52W range

ETF.net Grade

IONX: Cost 20, Risk 28, Mission 85, Tradability 70, Holdings not scored, Durability 79. OKTG: Cost 70, Risk 76, Mission 94, Tradability 73, Holdings not scored, Durability 51.
Pillar letters and Scores for IONX, OKTG, with each pillar’s weight
PillarIONXOKTG
Cost30% weightF20A70Higher
Mission25% weightA85A94Higher
Risk15% weightD28A76Higher
Tradability15% weightA70A73Higher
Holdings10% weightNot scoredNot scored
Durability5% weightA79HigherC51

Rank among Single-Stock Long Leveraged funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. IONX and OKTG are both graded against the same 315 Single-Stock Long Leveraged funds, so their Grades compare head to head.

Single-Stock Long Leveraged⁠

Category · 315 funds
See all 315 ›

OKTG ranks 3rd and IONX 252nd of 315 funds in the Single-Stock Long Leveraged Category.

  1. Rank 1ATSMGLeverage Shares 2x Long TSM Daily ETFScore 73
  2. Rank 2AUNHGLeverage Shares 2x Long UNH Daily ETFScore 72
  3. Rank 3AOKTGLeverage Shares 2x Long OKTA Daily ETFScore 70
  4. Rank 3APANGLeverage Shares 2x Long PANW Daily ETFScore 70
  5. Rank 252DFLYTTradr 2X Long FLY Daily ETFScore 38
  6. Rank 252DIONXDefiance Daily Target 2X Long IONQ ETFScore 38
  7. Rank 252DONDLDaily Target 2X Long ONDS ETFScore 38

Our read on each fund

ETF.net Research

IONXDDefiance Daily Target 2X Long IONQ ETF

OKTGALeverage Shares 2x Long OKTA Daily ETF

In short

IONX A pure trading instrument: swaps on IonQ, the trapped-ion quantum computing company, aiming for twice its daily move with no margin account needed. The target resets every day, so this is a day-trade tool by design.

OKTG A 2x daily amplifier on Okta, the identity-security stock, in an ETF wrapper. Leverage Shares prices it at 0.75%, under the typical leveraged single-stock fund, in a corner of the market built mostly around mega-caps.

Stated mandate

IONX The Fund seeks daily leveraged investment results equal to two times the daily percentage change in the share price of IonQ, Inc.

OKTG The fund seeks daily leveraged investment results equal to 200% of the daily performance of the publicly traded common stock identified as OKTA, before fees and expenses.

Why people hold it

  • IONX Simple job, clearly stated: total return swaps on IonQ shares plus Treasury bill collateral, targeting 2x IonQ's daily percentage change. No margin account, no options chain.defianceetfs.comsec.gov
  • Day to day, it has stayed close to its stated 2x target, and it changes hands actively, which matters when your holding period is measured in hours.
  • At 1.38%, it is the cheaper of the two 2x IonQ ETFs: IONL charges 1.50% net of a waiver through December 31, 2026, on a 3.63% gross fee.
  • Live since March 2025 inside Defiance's single-stock lineup, so it has a real operating record rather than a launch-week one.
  • OKTG Costs 0.75% a year, below the roughly 1.01% median for leveraged single-stock funds, and matches the fee on Leverage Shares' other 2x products like UNHG and ASMG.
  • Mechanically simple: it aims for 200% of Okta's daily move before fees and expenses, no margin account, options chain or share borrow involved.leverageshares.com
  • Unusual target. Most 2x single-stock ETFs point at mega-caps such as AAPU and GGLL; this one puts the same machinery on a cybersecurity name.

Worth knowing

  • IONX The 2x target resets daily. Hold longer and your result tracks IonQ's path, not just its endpoint; choppy stretches can grind value down even if the stock ends flat.defianceetfs.com
  • Double the daily move of a single volatile quantum computing stock, with no buffer or downside cushion in the structure. Drawdowns arrive at double speed too.defianceetfs.com
  • The fee sits above the category median, and other issuers' 2x single-stock funds charge less (TSMG, 0.76%). Leverage and swap financing costs stack on top.sec.gov
  • OKTG The leverage resets every day. Hold past that and returns compound, so a choppy stretch can leave you far from 2x Okta's move over the period.
  • One company, doubled. An earnings gap or a breach headline at Okta hits the fund at twice the size, with no other holdings to soften it.
  • Launched in November 2025 and still small and thinly traded, so spreads can run wider than on the long-established mega-cap leveraged funds.

Full IONX profile⁠

Full OKTG profile⁠

IONX vs OKTG Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

IONX vs OKTG Cost

Overpaying IONX vs OKTG

$10,072

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • IONX 1.38%

    $24,554

  • OKTG 0.75%

    $14,482

$10,000
30 years

Cost over time

  • IONX 1.38%
  • OKTG 0.75%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530IONX $24,554OKTG $14,482

Year by year

YearIONXOKTGOverpaying
10$2,395$1,336$1,059
20$8,848$5,078$3,770
30$24,554$14,482$10,072

Expense ratio

  • 1.38%IONX
  • 0.75%OKTG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

OKTG 87th cheapest of 315 funds

IONX 255th cheapest of 315 funds

IONX vs OKTG Dividends

Last 12 months to Nov 2, 2026
Payout (12M)
IONX No data
OKTG None
Last payment
IONX $1.66
OKTG No data
Ex-dividend
IONX Dec 30, 2025
OKTG No data
Paid on
IONX Dec 31, 2025
OKTG No data
Frequency
IONX Irregular
OKTG No data

Distribution history

Per share, 2025 to 2026, same scale for both

IONXIrregular · 1 paymentAll IONX payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $1.66. Use the arrow keys to read each point.$0$12026YTD
OKTGAll OKTG payments⁠

No distribution history available.

IONX vs OKTG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
IONX 204.5%since Apr 2025OKTG No data
Return per unit of riskSharpe ratio, 3 years
IONX 0.45since Apr 2025OKTG No data
Worst fallMax drawdown, 5 years
IONX −96.4%since Mar 2025OKTG No data
Market sensitivityBeta, 5 years
IONX 10.15OKTG 2.39

Popular comparisons

  • IONXDvsTSMGA

    Defiance Daily Target 2X Long IONQ ETF · Leverage Shares 2x Long TSM Daily ETF

    Expense ratio
    1.38% · 0.76%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • OKTGAvsTSMGA

    Leverage Shares 2x Long OKTA Daily ETF · Leverage Shares 2x Long TSM Daily ETF

    Expense ratio
    0.75% · 0.76%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • IONXDvsUNHGA

    Defiance Daily Target 2X Long IONQ ETF · Leverage Shares 2x Long UNH Daily ETF

    Expense ratio
    1.38% · 0.77%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • OKTGAvsUNHGA

    Leverage Shares 2x Long OKTA Daily ETF · Leverage Shares 2x Long UNH Daily ETF

    Expense ratio
    0.75% · 0.77%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • IONXDvsPANGA

    Defiance Daily Target 2X Long IONQ ETF · Leverage Shares 2x Long PANW Daily ETF

    Expense ratio
    1.38% · 0.76%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • OKTGAvsPANGA

    Leverage Shares 2x Long OKTA Daily ETF · Leverage Shares 2x Long PANW Daily ETF

    Expense ratio
    0.75% · 0.76%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.