IRE vs. SPUU
IRE (Defiance Daily Target 2X Long IREN ETF) and SPUU (Direxion Daily S&P 500 Bull 2X ETF) are both Leveraged Equities funds. IRE is actively managed, while SPUU is passively managed. Their 0.49 correlation means their historical movements had little consistent relationship. IRE charges 1.31%/yr vs 0.60%/yr for SPUU.
Performance
IRE vs. SPUU - 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 SPUU's 16.72% return.
IRE
- 1D
- -7.43%
- 1M
- -26.85%
- 6M
- -79.34%
- YTD
- -63.30%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
SPUU
- 1D
- 1.52%
- 1M
- 0.24%
- 6M
- 14.02%
- YTD
- 16.72%
- 1Y
- 38.14%
- 3Y*
- 31.33%
- 5Y*
- 17.73%
- 10Y*
- 23.82%
- ALL TIME*
- 21.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $104.51M | $97.02M | $161.63M | |
| $4.20M | $4.55M | $4.33M |
IRE vs. SPUU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IRE Defiance Daily Target 2X Long IREN ETF | -63.30% | -67.36% |
SPUU Direxion Daily S&P 500 Bull 2X ETF | 16.72% | 2.35% |
Correlation
The correlation between IRE and SPUU is 0.49, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 21, 2025 | 0.49 |
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Return for Risk
IRE vs. SPUU — Risk / Return Rank
IRE
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPUU
IRE vs. SPUU - 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 S&P 500 Bull 2X ETF (SPUU). 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 | SPUU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.23 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.85 | — |
| Martin ratioReturn relative to average drawdown | — | 7.47 | — |
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Drawdowns
IRE vs. SPUU - Drawdown Comparison
The maximum IRE drawdown since its inception was -95.22%, which is greater than SPUU's maximum drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for IRE and SPUU.
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Drawdown Indicators
| IRE | SPUU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.22% | -59.35% | -35.87% |
Max Drawdown (1Y)Largest decline over 1 year | — | -18.19% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -35.18% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -46.59% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -59.35% | — |
Current DrawdownCurrent decline from peak | -92.93% | -3.83% | -89.10% |
Average DrawdownAverage peak-to-trough decline | -72.92% | -9.44% | -63.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 4.51% | — |
Volatility
IRE vs. SPUU - Volatility Comparison
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Volatility by Period
| IRE | SPUU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 7.10% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 20.38% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 226.19% | 25.88% | +200.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 226.19% | 33.70% | +192.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 226.19% | 35.79% | +190.40% |
IRE vs. SPUU - Expense Ratio Comparison
IRE has a 1.31% expense ratio, which is higher than SPUU's 0.60% expense ratio.
Dividends
IRE vs. SPUU - Dividend Comparison
IRE has not paid dividends to shareholders, while SPUU's dividend yield for the trailing twelve months is around 1.34%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
SPUU Direxion Daily S&P 500 Bull 2X ETF | 1.34% | 1.63% | 0.55% | 0.83% | 0.88% | 3.04% | 8.03% | 1.80% | 5.50% | 6.96% | 8.08% | 4.42% |
Frequently Asked Questions
IRE and SPUU have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPUU is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPUU is cheaper with a 0.60% expense ratio, compared with 1.31% for IRE.
SPUU has the higher dividend yield at 1.34%, compared with 0.00% for IRE.
They also come from different issuers: Defiance and Direxion. Their fees differ too: 1.31% for IRE and 0.60% for SPUU.
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