IRE vs. SOXL

Last updated Jun 24, 2026

IRE (Defiance Daily Target 2X Long IREN ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds. IRE is actively managed, while SOXL is passively managed. A 0.54 correlation means they provide meaningful diversification when combined. IRE charges 1.31%/yr vs 0.75%/yr for SOXL.

Performance

IRE vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long IREN ETF (IRE) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IRE achieves a 3.96% return, which is significantly lower than SOXL's 450.61% return.

IRE

• 1D: -7.39%
• 1M: -17.03%
• YTD: 3.96%
• 6M: -16.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SOXL

• 1D: -23.06%
• 1M: 21.44%
• YTD: 450.61%
• 6M: 429.57%
• 1Y: 976.09%
• 3Y*: 120.84%
• 5Y*: 42.16%
• 10Y*: 64.56%

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

IRE vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025
IRE Defiance Daily Target 2X Long IREN ETF	3.96%	-67.36%
SOXL Direxion Daily Semiconductor Bull 3X ETF	450.61%	-0.50%

Correlation

The correlation between IRE and SOXL is 0.54, 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 21, 2025	0.54

Return for Risk

IRE vs. SOXL — Risk / Return Rank

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

IRE

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

SOXL

SOXL Risk / Return Rank: 96
SOXL Sharpe Ratio Rank: 99
SOXL Sortino Ratio Rank: 90
SOXL Omega Ratio Rank: 92
SOXL Calmar Ratio Rank: 99
SOXL Martin Ratio Rank: 98

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. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long IREN ETF (IRE) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). 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	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	—	8.45	—
Sortino ratio: Return per unit of downside risk	—	4.03	—
Omega ratio: Gain probability vs. loss probability	—	1.58	—
Calmar ratio: Return relative to maximum drawdown	—	22.69	—
Martin ratio: Return relative to average drawdown	—	72.83	—

Drawdowns

IRE vs. SOXL - Drawdown Comparison

The maximum IRE drawdown since its inception was -90.87%, roughly equal to the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for IRE and SOXL.

Drawdown Indicators

	IRE	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-90.87%	-90.46%	-0.41%
Max Drawdown (1Y) Largest decline over 1 year	—	-43.47%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-87.88%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-90.46%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-90.46%	—
Current Drawdown Current decline from peak	-79.98%	-23.06%	-56.92%
Average Drawdown Average peak-to-trough decline	-70.19%	-34.95%	-35.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	13.52%	—

Volatility

Volatility by Period

	IRE	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	68.39%	—
Volatility (6M) Calculated over the trailing 6-month period	—	99.84%	—
Volatility (1Y) Calculated over the trailing 1-year period	213.47%	116.79%	+96.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	213.47%	110.35%	+103.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	213.47%	100.62%	+112.85%

IRE vs. SOXL - Expense Ratio Comparison

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

Dividends

IRE vs. SOXL - Dividend Comparison

IRE has not paid dividends to shareholders, while SOXL's dividend yield for the trailing twelve months is around 0.03%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IRE Defiance Daily Target 2X Long IREN ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SOXL Direxion Daily Semiconductor Bull 3X ETF	0.03%	0.34%	1.18%	0.51%	1.07%	0.04%	0.05%	0.38%	1.30%	0.09%	4.84%

Frequently Asked Questions

Can I hold both IRE and SOXL in my portfolio?

IRE and SOXL have a correlation of 0.54, 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 SOXL?

On fees, SOXL 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 SOXL?

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

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

SOXL has the higher dividend yield at 0.03%, compared with 0.00% for IRE.

What is the main difference between IRE and SOXL?

They also come from different issuers: Defiance ETFs and Direxion. Their fees differ too: 1.31% for IRE and 0.75% for SOXL.