ZETX vs HWAY

Comparison between Defiance Daily Target 2x Long ZETA ETF (ZETX, ETF) and THEMES US INFRASTRUCTURE ETF (HWAY, ETF).

ZETX vs HWAY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	ZETX(ETF)	HWAY(ETF)
Net Assets	$3.20M	$3.30M
Expense Ratio	N/A	0.29%
Max Drawdown	44.78%	26.12%
Sharpe Ratio	0.76	1.67
5Y Beta	4.88	1.04
P/E Ratio	N/A	31.08
Forward P/E	N/A	23.76
5Y EPS CAGR	N/A	17.59%
Debt to Equity	N/A	31.51%
P/S Ratio	N/A	2.65
P/B Ratio	N/A	4.95

Net Assets

ZETX

$3.20M

Winner

HWAY

$3.30M

Expense Ratio

ZETX

N/A

HWAY

0.29%

Max Drawdown

ZETX

44.78%

Winner

HWAY

26.12%

Sharpe Ratio

ZETX

0.76

Winner

HWAY

1.67

5Y Beta

ZETX

4.88

Winner

HWAY

1.04

P/E Ratio

ZETX

N/A

HWAY

31.08

Forward P/E

ZETX

N/A

HWAY

23.76

5Y EPS CAGR

ZETX

N/A

HWAY

17.59%

Debt to Equity

ZETX

N/A

HWAY

31.51%

P/S Ratio

ZETX

N/A

HWAY

2.65

P/B Ratio

ZETX

N/A

HWAY

4.95

ZETX vs HWAY - Historical Returns

Returns include dividend reinvestment.

Period	ZETX	HWAY
1 month	+41.50%	+2.46%
3 months	+4.82%	+16.45%
6 months	N/A	+21.08%
1 year	N/A	+42.28%
Max(CAGR)	+12.79%	+27.89%

Winner

ZETX

+41.50%

HWAY

+2.46%

ZETX

+4.82%

Winner

HWAY

+16.45%

ZETX

N/A

HWAY

+21.08%

ZETX

N/A

HWAY

+42.28%

Max(CAGR)

ZETX

+12.79%

Winner

HWAY

+27.89%

ZETX vs HWAY - Annual Returns (2024 - 2026)

Returns include dividend reinvestment.

Year	ZETX	HWAY
2026	+4.31%	+21.51%
2025	N/A	+20.79%
2024	N/A	+3.38%

ZETX vs HWAY Drawdown Comparison

The maximum drawdown for ZETX was -44.78%, occurring on Apr 10, 2026. Recovery took 57 trading sessions.

The maximum drawdown for HWAY was -25.96%, occurring on Apr 8, 2025. Recovery took 164 trading sessions.

The current ZETX drawdown is -37.66%. The current HWAY drawdown is -0.40%.

Rank	ZETX	HWAY
#1	-44.78% Mar 9, 2026 - May 29, 2026	-25.96% Nov 25, 2024 - Jul 25, 2025
#2	-39.19% Jun 1, 2026 - Jun 10, 2026	-12.63% Feb 20, 2026 - Apr 23, 2026
#3	-29.94% Feb 4, 2026 - Feb 26, 2026	-7.19% May 6, 2026 - May 19, 2026
#4	-12.82% Feb 26, 2026 - Mar 4, 2026	-5.78% Oct 29, 2025 - Dec 3, 2025
#5	-1.18% Mar 5, 2026 - Mar 9, 2026	-3.97% Jul 25, 2025 - Aug 13, 2025
#6	N/A	-3.77% Dec 11, 2025 - Jan 6, 2026
#7	N/A	-3.51% Nov 6, 2024 - Nov 22, 2024
#8	N/A	-3.47% Oct 8, 2025 - Oct 21, 2025
#9	N/A	-3.12% Oct 18, 2024 - Nov 6, 2024
#10	N/A	-2.79% Sep 19, 2024 - Oct 11, 2024
#11	N/A	-2.43% Aug 22, 2025 - Sep 22, 2025
#12	N/A	-2.39% Apr 23, 2026 - Apr 30, 2026
#13	N/A	-2.29% Aug 13, 2025 - Aug 22, 2025
#14	N/A	-2.19% Feb 11, 2026 - Feb 20, 2026
#15	N/A	-2.18% Jan 6, 2026 - Jan 9, 2026