- Issuer
- Defiance ETFs
- Inception Date
- Oct 20, 2025
- Region
- North America (U.S.)
- Category
- Leveraged Equities
- Leveraged
- 2x
- Index Tracked
- No Index (Active)
- Domicile
- US
- Distribution Policy
- None
- Asset Class
- Equity
- Assets Under Management
- $280M
Share Price Chart
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Performance
IRE Performance Chart
Defiance Daily Target 2X Long IREN ETF (IRE) is down 46.0% since the beginning of the year. IRE is currently trading at $13 per share.
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Returns By Period
Defiance Daily Target 2X Long IREN ETF
- 1D
- -3.09%
- 1M
- -52.53%
- 6M
- -62.10%
- YTD
- -45.96%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.42%
- 1M
- 1.94%
- 6M
- 8.74%
- YTD
- 10.66%
- 1Y
- 21.02%
- 3Y*
- 19.50%
- 5Y*
- 11.63%
- 10Y*
- 13.41%
IRE Monthly Returns History
Based on dividend-adjusted daily data since Oct 21, 2025, IRE's average daily return is -0.06%, while the average monthly return is -3.52%.
Historically, 40% of months were positive and 60% were negative. The best month was Jan 2026 with a return of +77.6%, while the worst month was Jun 2026 at -53.8%. The longest winning streak lasted 2 consecutive months, and the longest losing streak was 2 months.
On a daily basis, IRE closed higher 45% of trading days. The best single day was Nov 24, 2025 with a return of +29.2%, while the worst single day was Feb 4, 2026 at -34.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 77.61% | -49.95% | -38.21% | 63.07% | 70.11% | -53.84% | -23.16% | -45.96% | |||||
| 2025 | 10.49% | -45.90% | -45.40% | -67.36% |
Benchmark Metrics
Defiance Daily Target 2X Long IREN ETF has an annualized alpha of -77.12%, beta of 7.66, and R2 of 0.23 versus S&P 500 Index. Calculated based on daily prices since October 21, 2025.
- This ETF captured 892.87% of S&P 500 Index gains and 513.18% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- R2 of 0.23 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -77.12%
- Beta
- 7.66
- R²
- 0.23
- Upside Capture
- 892.87%
- Downside Capture
- 513.18%
Expense Ratio
IRE has a high expense ratio of 1.31%, indicating above-average management fees.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Defiance Daily Target 2X Long IREN ETF (IRE) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IRE | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.30 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.28 | — |
| Martin ratioReturn relative to average drawdown | — | 9.88 | — |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Defiance Daily Target 2X Long IREN ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Defiance Daily Target 2X Long IREN ETF was 90.87%, occurring on Mar 30, 2026. The portfolio has not yet recovered.
The current Defiance Daily Target 2X Long IREN ETF drawdown is 89.59%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -90.87%Mar 2026 | 4mo 24d | — | 8mo 9dNov 2025 - now |
2025 bear market2025 | -20.31%Oct 2025 | 2d | 4d | 6dOct 2025 - Nov 2025 |
2025 correction2025 | -17.80%Oct 2025 | 1d | 2d | 3dOct 2025 - Oct 2025 |
2025 pullback2025 | -2.53%Nov 2025 | 0s | 1d | 1dNov 2025 - Nov 2025 |
Drawdown Indicators
| IRE | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.87% | -56.78% | -34.09% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -89.59% | -0.45% | -89.14% |
Average DrawdownAverage peak-to-trough decline | -71.35% | -10.71% | -60.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.09% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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