Which came closer to its stated multiple, IONC or IONX?

Over the window to Sep 30, 2026, IONC finished 9.8 points from what its multiple implies and IONX finished 12.7 points from its own, so IONC came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are IONC and IONX levered on the same thing?

Yes. Both are levered on IONQ, IONC at +2 times and IONX at +2 times the daily move.

Which one decays faster, IONC or IONX?

Decay follows how much the underlying moves about. Over this window IONC’s moved at 76% annualized and IONX’s at 76%, so IONC has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold IONC or IONX for a year?

Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.

Which is cheaper, IONC or IONX?

IONC charges 0.45% a year and IONX charges 1.38%, so IONC is cheaper. Fees come from each fund's prospectus.

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IONC vs IONX: which held to its multiple?

Over the days both have traded, IONC finished 9.8 points from its stated multiple and IONX 12.7. Corgi IONQ 2x Daily ETF and Defiance Daily Target 2X Long IONQ ETF.

−39.1%

IONC returned, 3 months

−42.0%

IONX returned, 3 months

−9.8 pts

IONC from its stated multiple

−12.7 pts

IONX from its stated multiple

IONC · 3 months to Sep 30, 20269.8 pts short of its stated multiple

IONC returned −39.1% while 2 times IONQ's move would have been −29.3%

IONX · 3 months to Sep 30, 202612.7 pts short of its stated multiple

IONX returned −42.0% while 2 times IONQ's move would have been −29.3%

ETFIQ Decay Resistance Score · IONC scores higherDid it keep up with its own daily multiple, compounded day by day?

IONC 62.6

IONX 13.7

0.1, the lowest in this set99.9, the highest

A percentile among the 470 leveraged ETFs, long, over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it → How it is computed →

Performance, window by window

	Total return		Multiple would give		Difference
Window	IONC	IONX	IONC	IONX	IONC	IONX
1 month	+20.0%	+19.0%	+23.1%	+23.1%	−3.2 pts	−4.2 pts
3 months	−39.1%	−42.0%	−29.3%	−29.3%	−9.8 pts	−12.7 pts
6 months	not published	+41.9%	not published	+115.7%	not published	−73.8 pts
1 year	not published	−84.0%	not published	−57.4%	not published	−26.6 pts
Since launch IONC Jun 2026 · IONX Mar 2025	−43.5%	−29.6%	−35.3%	not meaningful	−8.2 pts	not meaningful

IONC and IONX over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

IONC

Corgi IONQ 2x Daily ETF · Aims to return twice the daily move of IONQ

IONX

Defiance Daily Target 2X Long IONQ ETF · Aims to return twice the daily move of IONQ

Issuer Corgi Defiance

Sets out to return +2x +2x

Underlying asset IONQ IONQ

Segment company company

Fund returned, 3 months or since launch −39.1% −42.0%

Underlying returned, over that window −14.7% −14.7%

What the stated multiple implies, over that window −29.3% −29.3%

Difference from stated, over that window −9.8 pts −12.7 pts

Fund returned, 1 year or since launch −43.5% −84.0%

Difference from stated, over that window −8.2 pts −26.6 pts

Underlying volatility 76% 76%

Difference over the days both have traded −9.8 pts −12.7 pts

Expense ratio 0.45% 1.38%

Launched Jun 30, 2026 Mar 12, 2025

Net assets $348,593 $210m

IONC and IONX on the same fields, as of Sep 30, 2026. Source: ETFIQ.

IONC in plain words

Three months to Sep 30, 2026: IONC returned −39.1% where its own daily promise gave −36.9%, 2.2 points short. Read the multiple against the whole window instead and 2 times IONQ's −14.7% implies −29.3%, which makes IONC look 9.8 points short. 7.5 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. IONC aims to return +2 times IONQ's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. IONQ moved at 76% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.

IONX in plain words

Three months to Sep 30, 2026: IONX returned −42.0% where its own daily promise gave −36.9%, 5.1 points short. Read the multiple against the whole window instead and 2 times IONQ's −14.7% implies −29.3%, which makes IONX look 12.7 points short. IONX aims to return +2 times IONQ's move each day, then resets.

Questions people ask

Which came closer to its stated multiple, IONC or IONX?: Over the window to Sep 30, 2026, IONC finished 9.8 points from what its multiple implies and IONX finished 12.7 points from its own, so IONC came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are IONC and IONX levered on the same thing?: Yes. Both are levered on IONQ, IONC at +2 times and IONX at +2 times the daily move.
Which one decays faster, IONC or IONX?: Decay follows how much the underlying moves about. Over this window IONC’s moved at 76% annualized and IONX’s at 76%, so IONC has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold IONC or IONX for a year?: Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
Which is cheaper, IONC or IONX?: IONC charges 0.45% a year and IONX charges 1.38%, so IONC is cheaper. Fees come from each fund's prospectus.

Other comparisons

IONC vs IONL IONC vs IONZ IONX vs IONZ IONX vs IONL

IONC on its own →IONX on its own →How every figure is computed →Standards and sources →

Where these figures came from

IONC filings on SEC EDGAR ↗IONC prospectus with the expense ratio (SEC) ↗Corgi website ↗IONX filings on SEC EDGAR ↗IONX prospectus with the expense ratio (SEC) ↗Defiance page for IONX ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, IONC against IONX, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/ionc-vs-ionx

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.