IRE vs. DLLL
IRE (Defiance Daily Target 2X Long IREN ETF) and DLLL (GraniteShares 2x Long DELL Daily ETF) are both Leveraged Equities funds. IRE is actively managed, while DLLL is passively managed. Their 0.33 correlation means their historical movements had little consistent relationship. IRE charges 1.31%/yr vs 1.50%/yr for DLLL.
Performance
IRE vs. DLLL - Performance Comparison
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Returns By Period
In the year-to-date period, IRE achieves a -63.30% return, which is significantly lower than DLLL's 615.57% return.
IRE
- 1D
- -7.43%
- 1M
- -26.85%
- 6M
- -79.34%
- YTD
- -63.30%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
DLLL
- 1D
- 0.15%
- 1M
- -0.53%
- 6M
- 775.99%
- YTD
- 615.57%
- 1Y
- 526.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 275.30%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $23.39M | $34.88M | $51.04M | |
| $104.51M | $97.02M | $161.63M |
IRE vs. DLLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IRE Defiance Daily Target 2X Long IREN ETF | -63.30% | -67.36% |
DLLL GraniteShares 2x Long DELL Daily ETF | 615.57% | -30.97% |
Correlation
The correlation between IRE and DLLL is 0.33, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 21, 2025 | 0.33 |
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Return for Risk
IRE vs. DLLL — Risk / Return Rank
IRE
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
DLLL
IRE vs. DLLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long IREN ETF (IRE) and GraniteShares 2x Long DELL Daily ETF (DLLL). 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 | DLLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.43 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 8.37 | — |
| Martin ratioReturn relative to average drawdown | — | 16.29 | — |
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Drawdowns
IRE vs. DLLL - Drawdown Comparison
The maximum IRE drawdown since its inception was -95.22%, which is greater than DLLL's maximum drawdown of -68.58%. Use the drawdown chart below to compare losses from any high point for IRE and DLLL.
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Drawdown Indicators
| IRE | DLLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.22% | -68.58% | -26.64% |
Max Drawdown (1Y)Largest decline over 1 year | — | -57.19% | — |
Current DrawdownCurrent decline from peak | -92.93% | -32.31% | -60.62% |
Average DrawdownAverage peak-to-trough decline | -72.92% | -25.81% | -47.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 29.32% | — |
Volatility
IRE vs. DLLL - Volatility Comparison
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Volatility by Period
| IRE | DLLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 52.08% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 114.38% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 226.19% | 140.57% | +85.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 226.19% | 132.69% | +93.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 226.19% | 132.69% | +93.50% |
IRE vs. DLLL - Expense Ratio Comparison
IRE has a 1.31% expense ratio, which is lower than DLLL's 1.50% expense ratio.
Dividends
IRE vs. DLLL - Dividend Comparison
Neither IRE nor DLLL has paid dividends to shareholders.
Frequently Asked Questions
IRE and DLLL have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IRE is cheaper at 1.31% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IRE is cheaper with a 1.31% expense ratio, compared with 1.50% for DLLL.
IRE and DLLL have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Defiance and GraniteShares. Their fees differ too: 1.31% for IRE and 1.50% for DLLL.
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