IRE vs. USOY
IRE (Defiance Daily Target 2X Long IREN ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - IRE is a Leveraged Equities fund actively managed by Defiance, while USOY is a Derivative Income fund actively managed by Defiance. Both are actively managed. Their -0.04 correlation means they have often moved in opposite directions in the past. IRE charges 1.31%/yr vs 1.22%/yr for USOY.
Performance
IRE vs. USOY - 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 USOY's 51.25% return.
IRE
- 1D
- -7.43%
- 1M
- -26.85%
- 6M
- -79.34%
- YTD
- -63.30%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
USOY
- 1D
- 1.10%
- 1M
- 18.05%
- 6M
- 38.09%
- YTD
- 51.25%
- 1Y
- 41.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 19.21%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $104.51M | $97.02M | $161.63M | |
| $3.02M | $3.27M | $3.42M |
IRE vs. USOY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IRE Defiance Daily Target 2X Long IREN ETF | -63.30% | -67.36% |
USOY Defiance Oil Enhanced Options Income ETF | 51.25% | 3.20% |
Correlation
The correlation between IRE and USOY is -0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 21, 2025 | -0.04 |
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Return for Risk
IRE vs. USOY — Risk / Return Rank
IRE
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
USOY
IRE vs. USOY - 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 Oil Enhanced Options Income ETF (USOY). 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 | USOY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.22 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.53 | — |
| Martin ratioReturn relative to average drawdown | — | 4.54 | — |
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Drawdowns
IRE vs. USOY - Drawdown Comparison
The maximum IRE drawdown since its inception was -95.22%, which is greater than USOY's maximum drawdown of -25.51%. Use the drawdown chart below to compare losses from any high point for IRE and USOY.
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Drawdown Indicators
| IRE | USOY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.22% | -25.51% | -69.71% |
Max Drawdown (1Y)Largest decline over 1 year | — | -25.51% | — |
Current DrawdownCurrent decline from peak | -92.93% | -11.50% | -81.43% |
Average DrawdownAverage peak-to-trough decline | -72.92% | -7.16% | -65.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 8.81% | — |
Volatility
IRE vs. USOY - Volatility Comparison
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Volatility by Period
| IRE | USOY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 15.28% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 32.32% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 226.19% | 34.89% | +191.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 226.19% | 28.20% | +197.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 226.19% | 28.20% | +197.99% |
IRE vs. USOY - Expense Ratio Comparison
IRE has a 1.31% expense ratio, which is higher than USOY's 1.22% expense ratio.
Dividends
IRE vs. USOY - Dividend Comparison
IRE has not paid dividends to shareholders, while USOY's dividend yield for the trailing twelve months is around 56.58%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IRE Defiance Daily Target 2X Long IREN ETF | 0.00% | 0.00% | 0.00% |
USOY Defiance Oil Enhanced Options Income ETF | 56.58% | 104.32% | 48.60% |
Frequently Asked Questions
IRE and USOY have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USOY is cheaper at 1.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USOY is cheaper with a 1.22% expense ratio, compared with 1.31% for IRE.
USOY has the higher dividend yield at 56.58%, compared with 0.00% for IRE.
IRE is categorized as Leveraged Equities, while USOY is Derivative Income. Their fees differ too: 1.31% for IRE and 1.22% for USOY.
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