The Defiance Daily Target 2X Short IONQ ETF (NYSE:IONZ) has won the unwanted distinction of one of the worst-performing ETF over the last month, as shorters of IonQ Inc. (NYSE:IONQ) are on the wrong end of a quantum leap.
IONZ is meant to provide short negative 200% of IonQ’s daily returns, targeting short-term traders with bearish views on the quantum computing company. Rather, the fund turned out to be a cautionary tale as IonQ shares moved to all-time highs, driven by a plethora of bullish catalysts that have recharged the space.
