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OKTG vs RIOX

Leverage Shares 2x Long OKTA Daily ETF

OKTGANasdaq

Daily Target 2X Long RIOT ETF

RIOXDNYSE Arca

Overlap

Expense ratio

OKTG −0.88pt a year

OKTG0.75%RIOX1.63%

Avg volume · 30D

RIOX 7.1×the volume

OKTG38.5KRIOX274K

OKTG vs RIOX Performance

Dec 31, 2025 – Oct 30, 2026

+247.6%OKTG−60.3%RIOX

Dec 31, 2025 to Oct 30, 2026. OKTG +247.6%. RIOX −60.3%. Use the arrow keys to read each point.0%100%200%300%Dec 2025Jun 2026Oct 2026
Expense ratio
OKTG 0.75%, better
RIOX 1.63%
Fund size
OKTG $8M
RIOX $13M
1Y total return
OKTG No data
RIOX −86.3%
Holdings
OKTG 5
RIOX 10
Avg volume (30D)
OKTG 38.5K sh
RIOX 274K sh, better
NAV per share
OKTG $53.95
RIOX $8.43
52W range

ETF.net Grade

OKTG: Cost 70, Risk 76, Mission 94, Tradability 73, Holdings not scored, Durability 51. RIOX: Cost 2, Risk 34, Mission 98, Tradability 52, Holdings not scored, Durability 71.
Pillar letters and Scores for OKTG, RIOX, with each pillar’s weight
PillarOKTGRIOX
Cost30% weightA70HigherF2
Mission25% weightA94A98Higher
Risk15% weightA76HigherD34
Tradability15% weightA73HigherC52
Holdings10% weightNot scoredNot scored
Durability5% weightC51A71Higher

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. OKTG and RIOX 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 RIOX 291st 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 291DRGTXDaily Target 2X Long RGTI ETFScore 26
  6. Rank 291DRIOXDaily Target 2X Long RIOT ETFScore 26
  7. Rank 291DUSAXTradr 2X Long USAR Daily ETFScore 26

Our read on each fund

ETF.net Research

OKTGALeverage Shares 2x Long OKTA Daily ETF

RIOXDDaily Target 2X Long RIOT ETF

In short

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.

RIOX Two layers of torque in one ticker: Riot Platforms is already a high-voltage bitcoin mining stock, and RIOX aims to double its move every single day. Defiance launched it in 2025 as the first 2x long fund on the miner. A day-trading instrument, reset nightly.

Stated mandate

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.

RIOX The Fund seeks daily leveraged investment results of 200% of the daily percentage change in Riot Platforms, Inc.'s share price. It uses swaps and/or listed options and rebalances daily, so returns for periods beyond one day may differ substantially from 2X.

Why people hold it

  • 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.
  • RIOX Does what the label says: swaps and listed options tuned to 200% of RIOT's daily move, rebalanced every day, with close tracking of that daily target since the January 2025 launch.
  • Defiance launched it as the first 2x long ETF on Riot Platforms, packaging the trade for anyone who would rather not open a margin account.nasdaq.comdefianceetfs.com
  • The leverage sits inside a registered 1940 Act fund, not a brokerage margin line: no margin calls, no borrow to arrange, one ticker to buy and sell.nasdaq.com

Worth knowing

  • 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.
  • RIOX The math resets at every close. Hold longer than a day and compounding takes over, so results over weeks or months can land far from 2x, especially after choppy sessions.defianceetfs.com
  • 1.63% a year, no fee waiver softening it. That sits above the category median and well above 2x single-stock peers such as TSMG (0.76%) and OKTG (0.75%).
  • Doubling a bitcoin miner stacks volatility on volatility, among the sharpest risk profiles in an already extreme category, and trading is moderate rather than deep.

Full OKTG profile⁠

Full RIOX profile⁠

OKTG vs RIOX 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.

OKTG vs RIOX Cost

Overpaying RIOX vs OKTG

$13,611

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

  • OKTG 0.75%

    $14,482

  • RIOX 1.63%

    $28,093

$10,000
30 years

Cost over time

  • OKTG 0.75%
  • RIOX 1.63%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K051015202530RIOX $28,093OKTG $14,482

Year by year

YearOKTGRIOXOverpaying
10$1,336$2,799$1,463
20$5,078$10,230$5,152
30$14,482$28,093$13,611

Expense ratio

  • 0.75%OKTG, cheaper
  • 1.63%RIOX
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

OKTG 87th cheapest of 315 funds

RIOX 306th cheapest of 315 funds

OKTG vs RIOX Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
OKTG None
RIOX No data
Last payment
OKTG No data
RIOX $12.85
Ex-dividend
OKTG No data
RIOX Dec 30, 2025
Paid on
OKTG No data
RIOX Dec 31, 2025
Frequency
OKTG No data
RIOX Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

OKTGAll OKTG payments⁠

No distribution history available.

RIOXIrregular · 1 paymentAll RIOX payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $12.85. Use the arrow keys to read each point.$0$102026YTD

OKTG vs RIOX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
OKTG No dataRIOX 183.2%since Feb 2025
Return per unit of riskSharpe ratio, 3 years
OKTG No dataRIOX 0.26since Feb 2025
Worst fallMax drawdown, 5 years
OKTG No dataRIOX −90.2%since Jan 2025
Market sensitivityBeta, 5 years
OKTG 2.39RIOX 9.28

Popular comparisons

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