IRE.MI vs. SMCX
IRE.MI (Iren SpA) is a stock, while SMCX (Defiance Daily Target 2X Long SMCI ETF) is Leveraged Equities fund actively managed by Defiance. Over the past year, IRE.MI returned 0.66% vs -66.81% for SMCX. At a correlation of -0.06, they often move in opposite directions.
Performance
IRE.MI vs. SMCX - Performance Comparison
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Different Trading Currencies
IRE.MI is traded in EUR, while SMCX is traded in USD. To make them comparable, the SMCX values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IRE.MI achieves a 1.25% return, which is significantly lower than SMCX's 3.84% return.
IRE.MI
- 1D
- -0.08%
- 1M
- -1.37%
- YTD
- 1.25%
- 6M
- 2.13%
- 1Y
- 0.66%
- 3Y*
- 18.21%
- 5Y*
- 5.52%
- 10Y*
- 9.47%
SMCX
- 1D
- -21.85%
- 1M
- 34.38%
- YTD
- 3.84%
- 6M
- -29.30%
- 1Y
- -66.81%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IRE.MI vs. SMCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IRE.MI Iren SpA | 1.25% | 39.87% | 0.95% |
SMCX Defiance Daily Target 2X Long SMCI ETF | 3.84% | -73.37% | -88.80% |
Correlation
The correlation between IRE.MI and SMCX is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Aug 23, 2024 | -0.06 |
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Return for Risk
IRE.MI vs. SMCX — Risk / Return Rank
IRE.MI
SMCX
IRE.MI vs. SMCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Iren SpA (IRE.MI) and Defiance Daily Target 2X Long SMCI ETF (SMCX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| IRE.MI | SMCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.04 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | -0.71 | +0.69 |
| Martin ratioReturn relative to average drawdown | -0.04 | -0.97 | +0.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IRE.MI | SMCX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.01 | -0.43 | +0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.38 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | -0.43 | +0.65 |
Drawdowns
IRE.MI vs. SMCX - Drawdown Comparison
The maximum IRE.MI drawdown since its inception was -89.17%, smaller than the maximum SMCX drawdown of -99.06%. Use the drawdown chart below to compare losses from any high point for IRE.MI and SMCX.
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Drawdown Indicators
| IRE.MI | SMCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.17% | -99.06% | +9.89% |
Max Drawdown (1Y)Largest decline over 1 year | -16.26% | -94.82% | +78.56% |
Max Drawdown (3Y)Largest decline over 3 years | -19.21% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -52.87% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -52.87% | — | — |
Current DrawdownCurrent decline from peak | -8.94% | -96.96% | +88.02% |
Average DrawdownAverage peak-to-trough decline | -34.76% | -87.20% | +52.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.97% | 68.62% | -62.65% |
Volatility
IRE.MI vs. SMCX - Volatility Comparison
The current volatility for Iren SpA (IRE.MI) is 5.76%, while Defiance Daily Target 2X Long SMCI ETF (SMCX) has a volatility of 51.70%. This indicates that IRE.MI experiences smaller price fluctuations and is considered to be less risky than SMCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IRE.MI | SMCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.76% | 51.70% | -45.94% |
Volatility (6M)Calculated over the trailing 6-month period | 16.26% | 150.92% | -134.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.75% | 158.30% | -137.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.59% | 200.05% | -175.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.80% | 200.05% | -175.25% |
Dividends
IRE.MI vs. SMCX - Dividend Comparison
IRE.MI's dividend yield for the trailing twelve months is around 4.96%, more than SMCX's 4.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IRE.MI Iren SpA | 4.96% | 5.02% | 6.19% | 5.58% | 7.15% | 3.58% | 4.35% | 3.04% | 3.34% | 2.50% | 3.53% | 3.51% |
SMCX Defiance Daily Target 2X Long SMCI ETF | 4.31% | 4.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IRE.MI and SMCX have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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