IRE vs. CRMG

Last updated Jul 17, 2026

IRE (Defiance Daily Target 2X Long IREN ETF) and CRMG (Leverage Shares 2X Long CRM Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a correlation of -0.09, they often move in opposite directions. IRE charges 1.31%/yr vs 0.75%/yr for CRMG.

Performance

IRE vs. CRMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long IREN ETF (IRE) and Leverage Shares 2X Long CRM Daily ETF (CRMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with IRE having a -62.04% return and CRMG slightly lower at -64.33%.

IRE

• 1D: -18.15%
• 1M: -69.04%
• 6M: -78.73%
• YTD: -62.04%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CRMG

• 1D: 6.77%
• 1M: 10.88%
• 6M: -53.43%
• YTD: -64.33%
• 1Y: -65.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IRE vs. CRMG - Yearly Performance Comparison

	2026 (YTD)	2025
IRE Defiance Daily Target 2X Long IREN ETF	-62.04%	-67.36%
CRMG Leverage Shares 2X Long CRM Daily ETF	-64.33%	4.18%

Correlation

The correlation between IRE and CRMG is -0.09, 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 (All Time) Calculated using the full available price history since Oct 21, 2025	-0.09

Return for Risk

IRE vs. CRMG — 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.

CRMG

CRMG Risk / Return Rank: 2
CRMG Sharpe Ratio Rank: 3
CRMG Sortino Ratio Rank: 2
CRMG Omega Ratio Rank: 3
CRMG Calmar Ratio Rank: 2
CRMG Martin Ratio Rank: 1

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. CRMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long IREN ETF (IRE) and Leverage Shares 2X Long CRM Daily ETF (CRMG). 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	CRMG	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.85	—
Sortino ratio: Return per unit of downside risk	—	-1.33	—
Omega ratio: Gain probability vs. loss probability	—	0.85	—
Calmar ratio: Return relative to maximum drawdown	—	-0.87	—
Martin ratio: Return relative to average drawdown	—	-1.45	—

Drawdowns

IRE vs. CRMG - Drawdown Comparison

The maximum IRE drawdown since its inception was -92.69%, which is greater than CRMG's maximum drawdown of -79.83%. Use the drawdown chart below to compare losses from any high point for IRE and CRMG.

Drawdown Indicators

	IRE	CRMG	Difference
Max Drawdown Largest peak-to-trough decline	-92.69%	-79.83%	-12.86%
Max Drawdown (1Y) Largest decline over 1 year	—	-75.82%	—
Current Drawdown Current decline from peak	-92.69%	-73.90%	-18.79%
Average Drawdown Average peak-to-trough decline	-71.78%	-41.04%	-30.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	45.39%	—

Volatility

Volatility by Period

	IRE	CRMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	23.42%	—
Volatility (6M) Calculated over the trailing 6-month period	—	64.24%	—
Volatility (1Y) Calculated over the trailing 1-year period	212.83%	77.97%	+134.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	212.83%	75.77%	+137.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	212.83%	75.77%	+137.06%

IRE vs. CRMG - Expense Ratio Comparison

IRE has a 1.31% expense ratio, which is higher than CRMG's 0.75% expense ratio.

Dividends

IRE vs. CRMG - Dividend Comparison

Neither IRE nor CRMG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IRE and CRMG in my portfolio?

IRE and CRMG have a correlation of -0.09, 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 CRMG?

On fees, CRMG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IRE or CRMG?

CRMG is cheaper with a 0.75% expense ratio, compared with 1.31% for IRE.

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

IRE and CRMG have nearly identical dividend yields, around 0.00%.

What is the main difference between IRE and CRMG?

They also come from different issuers: Defiance ETFs and Leverage Shares. Their fees differ too: 1.31% for IRE and 0.75% for CRMG.