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IONL vs SPY

Comparison between GRANITESHARES 2X LONG IONQ DAILY ETF (IONL, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

IONL vs SPY - Performance Comparison

Key Characteristics

Financial metrics and valuation ratios

Net Assets
IONL
$87M
Winner
SPY
$781B
Expense Ratio
IONL
N/A
SPY
0.09%
Max Drawdown
IONL
93.41%
Winner
SPY
56.47%
Sharpe Ratio
IONL
0.06
Winner
SPY
1.22
5Y Beta
IONL
5.04
Winner
SPY
1.00
P/E Ratio
IONL
N/A
SPY
28.78
Forward P/E
IONL
N/A
SPY
21.25
5Y Dividends CAGR
IONL
N/A
SPY
6.00%
5Y EPS CAGR
IONL
N/A
SPY
25.62%
Debt to Equity
IONL
N/A
SPY
31.92%
P/S Ratio
IONL
N/A
SPY
3.76
P/B Ratio
IONL
N/A
SPY
5.64

IONL vs SPY - Historical Returns

Returns include dividend reinvestment.

1M
IONL
-67.49%
Winner
SPY
+0.63%
3M
IONL
-53.14%
Winner
SPY
+4.46%
6M
IONL
-69.85%
Winner
SPY
+7.67%
1Y
IONL
-77.66%
Winner
SPY
+17.68%
5Y(CAGR)
IONL
N/A
SPY
+12.42%
10Y(CAGR)
IONL
N/A
SPY
+14.84%
Max(CAGR)
IONL
-45.66%
Winner
SPY
+8.44%

IONL vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

YearIONLSPY
2026-70.36%+8.63%
2025+38.57%+18.00%
2024N/A+25.59%
2023N/A+26.72%
2022N/A-18.64%
2021N/A+30.52%
2020N/A+17.28%
2019N/A+31.09%
2018N/A-5.24%
2017N/A+20.78%
2016N/A+13.59%
2015N/A+1.31%
2014N/A+14.56%
2013N/A+29.00%
2012N/A+14.17%
2011N/A+0.85%
2010N/A+13.14%
2009N/A+22.67%
2008N/A-36.25%
2007N/A+5.32%
2006N/A+13.85%
2005N/A+5.32%
2004N/A+10.75%
2003N/A+24.18%
2002N/A-22.42%
2001N/A-10.13%
2000N/A-8.84%
1999N/A+8.61%

IONL vs SPY Drawdown Comparison

The maximum drawdown for IONL was -93.41%, occurring on Mar 30, 2026. This drawdown has not yet recovered.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current IONL drawdown is -92.48%. The current SPY drawdown is -2.57%.

RankIONLSPY
#1-93.41%
Oct 13, 2025 - Mar 30, 2026		-55.20%
Oct 9, 2007 - Aug 16, 2012
#2-49.40%
May 27, 2025 - Sep 12, 2025		-47.50%
Mar 24, 2000 - Oct 26, 2006
#3-37.57%
Mar 25, 2025 - Apr 24, 2025		-33.70%
Feb 19, 2020 - Aug 10, 2020
#4-33.63%
Sep 23, 2025 - Oct 6, 2025		-24.50%
Jan 3, 2022 - Dec 13, 2023
#5-22.02%
Oct 7, 2025 - Oct 13, 2025		-19.34%
Sep 20, 2018 - Apr 12, 2019
#6-10.92%
May 2, 2025 - May 8, 2025		-18.76%
Feb 19, 2025 - Jun 26, 2025
#7-10.34%
May 20, 2025 - May 22, 2025		-13.02%
Jul 20, 2015 - Apr 18, 2016
#8-9.84%
Apr 25, 2025 - May 2, 2025		-10.10%
Jan 26, 2018 - Aug 6, 2018
#9-5.95%
May 14, 2025 - May 16, 2025		-9.44%
Sep 2, 2020 - Nov 11, 2020
#10-4.23%
May 8, 2025 - May 12, 2025		-9.30%
Jan 19, 2000 - Mar 17, 2000
#11-0.86%
May 22, 2025 - May 27, 2025		-9.05%
Jul 19, 2007 - Oct 5, 2007
#12-0.05%
May 16, 2025 - May 20, 2025		-8.88%
Jan 27, 2026 - Apr 14, 2026
#13N/A-8.41%
Jul 16, 2024 - Sep 19, 2024
#14N/A-7.35%
Sep 14, 2012 - Jan 2, 2013
#15N/A-7.27%
Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between IONL and SPY is 0.02 which considered as a very weak or no correlation - the stocks move independently of each other.

0.02
-101

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