IRE vs. CHPY

Last updated Jun 24, 2026

IRE (Defiance Daily Target 2X Long IREN ETF) and CHPY (YieldMax Semiconductor Portfolio Option Income ETF) are both exchange-traded funds - IRE is a Leveraged Equities fund actively managed by Defiance ETFs, while CHPY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. A 0.51 correlation means they provide meaningful diversification when combined. IRE charges 1.31%/yr vs 0.99%/yr for CHPY.

Performance

IRE vs. CHPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long IREN ETF (IRE) and YieldMax Semiconductor Portfolio Option Income ETF (CHPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IRE achieves a 3.96% return, which is significantly lower than CHPY's 82.68% return.

IRE

• 1D: -7.39%
• 1M: -17.03%
• YTD: 3.96%
• 6M: -16.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CHPY

• 1D: -6.97%
• 1M: 10.89%
• YTD: 82.68%
• 6M: 81.99%
• 1Y: 134.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IRE vs. CHPY - Yearly Performance Comparison

	2026 (YTD)	2025
IRE Defiance Daily Target 2X Long IREN ETF	3.96%	-67.36%
CHPY YieldMax Semiconductor Portfolio Option Income ETF	82.68%	3.96%

Correlation

The correlation between IRE and CHPY is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 21, 2025	0.51

Return for Risk

IRE vs. CHPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IRE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

CHPY

CHPY Risk / Return Rank: 95
CHPY Sharpe Ratio Rank: 96
CHPY Sortino Ratio Rank: 93
CHPY Omega Ratio Rank: 94
CHPY Calmar Ratio Rank: 97
CHPY Martin Ratio Rank: 97

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IRE vs. CHPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long IREN ETF (IRE) and YieldMax Semiconductor Portfolio Option Income ETF (CHPY). 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.

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	CHPY	Difference
Sharpe ratio: Return per unit of total volatility	—	4.16	—
Sortino ratio: Return per unit of downside risk	—	4.30	—
Omega ratio: Gain probability vs. loss probability	—	1.64	—
Calmar ratio: Return relative to maximum drawdown	—	11.13	—
Martin ratio: Return relative to average drawdown	—	39.19	—

Drawdowns

IRE vs. CHPY - Drawdown Comparison

The maximum IRE drawdown since its inception was -90.87%, which is greater than CHPY's maximum drawdown of -12.19%. Use the drawdown chart below to compare losses from any high point for IRE and CHPY.

Drawdown Indicators

	IRE	CHPY	Difference
Max Drawdown Largest peak-to-trough decline	-90.87%	-12.19%	-78.68%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.17%	—
Current Drawdown Current decline from peak	-79.98%	-6.97%	-73.01%
Average Drawdown Average peak-to-trough decline	-70.19%	-2.14%	-68.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.45%	—

Volatility

Volatility by Period

	IRE	CHPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	19.72%	—
Volatility (6M) Calculated over the trailing 6-month period	—	27.95%	—
Volatility (1Y) Calculated over the trailing 1-year period	213.47%	32.57%	+180.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	213.47%	36.37%	+177.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	213.47%	36.37%	+177.10%

IRE vs. CHPY - Expense Ratio Comparison

IRE has a 1.31% expense ratio, which is higher than CHPY's 0.99% expense ratio.

Dividends

IRE vs. CHPY - Dividend Comparison

IRE has not paid dividends to shareholders, while CHPY's dividend yield for the trailing twelve months is around 29.64%.

Position	TTM	2025
CHPY YieldMax Semiconductor Portfolio Option Income ETF	29.64%	28.19%
IRE Defiance Daily Target 2X Long IREN ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both IRE and CHPY in my portfolio?

IRE and CHPY have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IRE or CHPY?

On fees, CHPY is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IRE or CHPY?

CHPY is cheaper with a 0.99% expense ratio, compared with 1.31% for IRE.

Which ETF pays a higher dividend yield, IRE or CHPY?

CHPY has the higher dividend yield at 29.64%, compared with 0.00% for IRE.

What is the main difference between IRE and CHPY?

IRE is categorized as Leveraged Equities, while CHPY is Derivative Income. They also come from different issuers: Defiance ETFs and YieldMax. Their fees differ too: 1.31% for IRE and 0.99% for CHPY.