IRE vs. IREN

Last updated Jun 4, 2026

IRE (Defiance Daily Target 2X Long IREN ETF) is Leveraged Equities fund actively managed by Defiance ETFs, while IREN (IREN Limited) is a stock. With a 1.00 correlation, they move nearly in lockstep.

Performance

IRE vs. IREN - Performance Comparison

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

Returns By Period

In the year-to-date period, IRE achieves a 61.20% return, which is significantly lower than IREN's 73.37% return.

IRE

• 1D: -3.62%
• 1M: 53.26%
• YTD: 61.20%
• 6M: 8.68%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IREN

• 1D: -1.68%
• 1M: 32.34%
• YTD: 73.37%
• 6M: 48.95%
• 1Y: 636.56%
• 3Y*: 165.47%
• 5Y*: —
• 10Y*: —

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

IRE vs. IREN - Yearly Performance Comparison

	2026 (YTD)	2025
IRE Defiance Daily Target 2X Long IREN ETF	61.20%	-65.76%
IREN IREN Limited	73.37%	-31.57%

Correlation

The correlation between IRE and IREN is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 22, 2025	1.00

Return for Risk

IRE vs. IREN — Risk / Return Rank

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

IREN

IREN Risk / Return Rank: 96
IREN Sharpe Ratio Rank: 99
IREN Sortino Ratio Rank: 95
IREN Omega Ratio Rank: 92
IREN Calmar Ratio Rank: 98
IREN Martin Ratio Rank: 95

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. IREN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long IREN ETF (IRE) and IREN Limited (IREN). 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.

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

Sharpe Ratios by Period

	IRE	IREN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	6.33	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.29	0.21	-0.50

Drawdowns

IRE vs. IREN - Drawdown Comparison

The maximum IRE drawdown since its inception was -90.87%, smaller than the maximum IREN drawdown of -95.73%. Use the drawdown chart below to compare losses from any high point for IRE and IREN.

Drawdown Indicators

	IRE	IREN	Difference
Max Drawdown Largest peak-to-trough decline	-90.87%	-95.73%	+4.86%
Max Drawdown (1Y) Largest decline over 1 year	—	-58.62%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-65.56%	—
Current Drawdown Current decline from peak	-68.95%	-14.30%	-54.65%
Average Drawdown Average peak-to-trough decline	-69.97%	-62.79%	-7.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	30.44%	—

Volatility

Volatility by Period

	IRE	IREN	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	32.69%	—
Volatility (6M) Calculated over the trailing 6-month period	—	75.24%	—
Volatility (1Y) Calculated over the trailing 1-year period	214.53%	101.57%	+112.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	214.53%	118.41%	+96.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	214.53%	118.41%	+96.12%

Dividends

IRE vs. IREN - Dividend Comparison

Neither IRE nor IREN has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IRE and IREN in my portfolio?

With a correlation of 1.00, IRE and IREN move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.