IRE vs. OOQB

Last updated Jun 4, 2026

IRE (Defiance Daily Target 2X Long IREN ETF) and OOQB (Volatility Shares One+One Nasdaq-100® and Bitcoin ETF) are both exchange-traded funds - IRE is a Leveraged Equities fund actively managed by Defiance ETFs, while OOQB is a Nasdaq-100 fund actively managed by Volatility Shares. Both are actively managed. A 0.53 correlation means they provide meaningful diversification when combined. IRE charges 1.31%/yr vs 0.75%/yr for OOQB.

Performance

IRE vs. OOQB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long IREN ETF (IRE) and Volatility Shares One+One Nasdaq-100® and Bitcoin ETF (OOQB). 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 higher than OOQB's -18.43% return.

IRE

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

OOQB

• 1D: 0.00%
• 1M: 0.00%
• YTD: -18.43%
• 6M: -24.99%
• 1Y: -27.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IRE vs. OOQB - Yearly Performance Comparison

	2026 (YTD)	2025
IRE Defiance Daily Target 2X Long IREN ETF	61.20%	-65.76%
OOQB Volatility Shares One+One Nasdaq-100® and Bitcoin ETF	-18.43%	-23.01%

Correlation

The correlation between IRE and OOQB is 0.53, 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 22, 2025	0.53

Return for Risk

IRE vs. OOQB — Risk / Return Rank

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

OOQB

OOQB Risk / Return Rank: 4
OOQB Sharpe Ratio Rank: 4
OOQB Sortino Ratio Rank: 5
OOQB Omega Ratio Rank: 4
OOQB Calmar Ratio Rank: 4
OOQB Martin Ratio Rank: 5

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. OOQB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long IREN ETF (IRE) and Volatility Shares One+One Nasdaq-100® and Bitcoin ETF (OOQB). 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	OOQB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.29	-0.41	+0.12

Drawdowns

IRE vs. OOQB - Drawdown Comparison

The maximum IRE drawdown since its inception was -90.87%, which is greater than OOQB's maximum drawdown of -53.44%. Use the drawdown chart below to compare losses from any high point for IRE and OOQB.

Drawdown Indicators

	IRE	OOQB	Difference
Max Drawdown Largest peak-to-trough decline	-90.87%	-53.44%	-37.43%
Max Drawdown (1Y) Largest decline over 1 year	—	-53.44%	—
Current Drawdown Current decline from peak	-68.95%	-43.69%	-25.26%
Average Drawdown Average peak-to-trough decline	-69.97%	-23.26%	-46.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	30.11%	—

Volatility

Volatility by Period

	IRE	OOQB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	39.39%	—
Volatility (1Y) Calculated over the trailing 1-year period	214.53%	51.57%	+162.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	214.53%	58.12%	+156.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	214.53%	58.12%	+156.41%

IRE vs. OOQB - Expense Ratio Comparison

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

Dividends

IRE vs. OOQB - Dividend Comparison

IRE has not paid dividends to shareholders, while OOQB's dividend yield for the trailing twelve months is around 11.62%.

Position	TTM	2025
IRE Defiance Daily Target 2X Long IREN ETF	0.00%	0.00%
OOQB Volatility Shares One+One Nasdaq-100® and Bitcoin ETF	11.62%	9.53%

Frequently Asked Questions

Can I hold both IRE and OOQB in my portfolio?

IRE and OOQB have a correlation of 0.53, 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 OOQB?

On fees, OOQB 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 OOQB?

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

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

OOQB has the higher dividend yield at 11.62%, compared with 0.00% for IRE.

What is the main difference between IRE and OOQB?

IRE is categorized as Leveraged Equities, while OOQB is Nasdaq-100. They also come from different issuers: Defiance ETFs and Volatility Shares. Their fees differ too: 1.31% for IRE and 0.75% for OOQB.