IRE vs. GEVG
IRE (Defiance Daily Target 2X Long IREN ETF) and GEVG (Leverage Shares 2X Long GEV Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.50 correlation, their price movements are largely independent. IRE charges 1.31%/yr vs 0.75%/yr for GEVG.
Performance
IRE vs. GEVG - Performance Comparison
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Returns By Period
In the year-to-date period, IRE achieves a -64.69% return, which is significantly lower than GEVG's 116.01% return.
IRE
- 1D
- -6.98%
- 1M
- -70.17%
- 6M
- -83.84%
- YTD
- -64.69%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GEVG
- 1D
- 4.44%
- 1M
- -2.15%
- 6M
- 102.06%
- YTD
- 116.01%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IRE vs. GEVG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IRE Defiance Daily Target 2X Long IREN ETF | -64.69% | 8.79% |
GEVG Leverage Shares 2X Long GEV Daily ETF | 116.01% | -11.27% |
Correlation
The correlation between IRE and GEVG is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 16, 2025 | 0.50 |
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Return for Risk
IRE vs. GEVG - 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 GEV Daily ETF (GEVG). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Drawdowns
IRE vs. GEVG - Drawdown Comparison
The maximum IRE drawdown since its inception was -93.20%, which is greater than GEVG's maximum drawdown of -45.50%. Use the drawdown chart below to compare losses from any high point for IRE and GEVG.
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Drawdown Indicators
| IRE | GEVG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.20% | -45.50% | -47.70% |
Current DrawdownCurrent decline from peak | -93.20% | -22.65% | -70.55% |
Average DrawdownAverage peak-to-trough decline | -71.90% | -12.09% | -59.81% |
Volatility
IRE vs. GEVG - Volatility Comparison
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Volatility by Period
| IRE | GEVG | Difference | |
|---|---|---|---|
Volatility (1Y)Calculated over the trailing 1-year period | 212.39% | 102.41% | +109.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 212.39% | 102.41% | +109.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 212.39% | 102.41% | +109.98% |
IRE vs. GEVG - Expense Ratio Comparison
IRE has a 1.31% expense ratio, which is higher than GEVG's 0.75% expense ratio.
Dividends
IRE vs. GEVG - Dividend Comparison
Neither IRE nor GEVG has paid dividends to shareholders.
Frequently Asked Questions
IRE and GEVG have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GEVG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GEVG is cheaper with a 0.75% expense ratio, compared with 1.31% for IRE.
IRE and GEVG have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Defiance ETFs and Leverage Shares. Their fees differ too: 1.31% for IRE and 0.75% for GEVG.
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