IRE vs. QQQY
IRE (Defiance Daily Target 2X Long IREN ETF) and QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) are both exchange-traded funds - IRE is a Leveraged Equities fund actively managed by Defiance, while QQQY is a Nasdaq-100 fund actively managed by Defiance. Both are actively managed. Their 0.53 correlation means they have sometimes moved together and sometimes differently. IRE charges 1.31%/yr vs 0.99%/yr for QQQY.
Performance
IRE vs. QQQY - 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 QQQY's 12.11% return.
IRE
- 1D
- -7.43%
- 1M
- -26.85%
- 6M
- -79.34%
- YTD
- -63.30%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
QQQY
- 1D
- 0.50%
- 1M
- -3.16%
- 6M
- 11.25%
- YTD
- 12.11%
- 1Y
- 21.17%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 14.80%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $104.51M | $97.02M | $161.63M | |
| $1.79M | $2.09M | $2.92M |
IRE vs. QQQY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IRE Defiance Daily Target 2X Long IREN ETF | -63.30% | -67.36% |
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF | 12.11% | 0.98% |
Correlation
The correlation between IRE and QQQY is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 21, 2025 | 0.53 |
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Return for Risk
IRE vs. QQQY — Risk / Return Rank
IRE
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
QQQY
IRE vs. QQQY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long IREN ETF (IRE) and Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY). 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 | QQQY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.21 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.72 | — |
| Martin ratioReturn relative to average drawdown | — | 6.07 | — |
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Drawdowns
IRE vs. QQQY - Drawdown Comparison
The maximum IRE drawdown since its inception was -95.22%, which is greater than QQQY's maximum drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for IRE and QQQY.
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Drawdown Indicators
| IRE | QQQY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.22% | -19.05% | -76.17% |
Max Drawdown (1Y)Largest decline over 1 year | — | -11.14% | — |
Current DrawdownCurrent decline from peak | -92.93% | -6.19% | -86.74% |
Average DrawdownAverage peak-to-trough decline | -72.92% | -2.96% | -69.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.15% | — |
Volatility
IRE vs. QQQY - Volatility Comparison
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Volatility by Period
| IRE | QQQY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 6.53% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 15.23% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 226.19% | 17.41% | +208.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 226.19% | 15.75% | +210.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 226.19% | 15.75% | +210.44% |
IRE vs. QQQY - Expense Ratio Comparison
IRE has a 1.31% expense ratio, which is higher than QQQY's 0.99% expense ratio.
Dividends
IRE vs. QQQY - Dividend Comparison
IRE has not paid dividends to shareholders, while QQQY's dividend yield for the trailing twelve months is around 37.47%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
IRE Defiance Daily Target 2X Long IREN ETF | 0.00% | 0.00% | 0.00% | 0.00% |
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF | 37.47% | 45.34% | 83.34% | 20.64% |
Frequently Asked Questions
IRE and QQQY 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.
On fees, QQQY is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QQQY is cheaper with a 0.99% expense ratio, compared with 1.31% for IRE.
QQQY has the higher dividend yield at 37.47%, compared with 0.00% for IRE.
IRE is categorized as Leveraged Equities, while QQQY is Nasdaq-100. Their fees differ too: 1.31% for IRE and 0.99% for QQQY.
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