IRE vs. XMAG
IRE (Defiance Daily Target 2X Long IREN ETF) and XMAG (Defiance Large Cap ex-Mag 7 ETF) are both exchange-traded funds - IRE is a Leveraged Equities fund actively managed by Defiance, while XMAG is a Large Cap Blend Equities fund tracking the BITA US 500 ex Magnificent 7 Index. IRE is actively managed, while XMAG is passively managed. Their 0.45 correlation means their historical movements had little consistent relationship. IRE charges 1.31%/yr vs 0.35%/yr for XMAG.
Performance
IRE vs. XMAG - 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 XMAG's 12.36% return.
IRE
- 1D
- -7.43%
- 1M
- -26.85%
- 6M
- -79.34%
- YTD
- -63.30%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
XMAG
- 1D
- -0.04%
- 1M
- -1.41%
- 6M
- 10.62%
- YTD
- 12.36%
- 1Y
- 21.36%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 14.93%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $104.51M | $97.02M | $161.63M | |
| $1.40M | $2.49M | $1.91M |
IRE vs. XMAG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IRE Defiance Daily Target 2X Long IREN ETF | -63.30% | -67.36% |
XMAG Defiance Large Cap ex-Mag 7 ETF | 12.36% | 1.48% |
Correlation
The correlation between IRE and XMAG is 0.45, 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 | 0.45 |
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Return for Risk
IRE vs. XMAG — Risk / Return Rank
IRE
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
XMAG
IRE vs. XMAG - 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 Large Cap ex-Mag 7 ETF (XMAG). 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 | XMAG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.29 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.77 | — |
| Martin ratioReturn relative to average drawdown | — | 11.56 | — |
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Drawdowns
IRE vs. XMAG - Drawdown Comparison
The maximum IRE drawdown since its inception was -95.22%, which is greater than XMAG's maximum drawdown of -16.17%. Use the drawdown chart below to compare losses from any high point for IRE and XMAG.
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Drawdown Indicators
| IRE | XMAG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.22% | -16.17% | -79.05% |
Max Drawdown (1Y)Largest decline over 1 year | — | -7.29% | — |
Current DrawdownCurrent decline from peak | -92.93% | -2.76% | -90.17% |
Average DrawdownAverage peak-to-trough decline | -72.92% | -2.07% | -70.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.75% | — |
Volatility
IRE vs. XMAG - Volatility Comparison
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Volatility by Period
| IRE | XMAG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.55% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 9.62% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 226.19% | 12.06% | +214.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 226.19% | 15.03% | +211.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 226.19% | 15.03% | +211.16% |
IRE vs. XMAG - Expense Ratio Comparison
IRE has a 1.31% expense ratio, which is higher than XMAG's 0.35% expense ratio.
Dividends
IRE vs. XMAG - Dividend Comparison
IRE has not paid dividends to shareholders, while XMAG's dividend yield for the trailing twelve months is around 0.46%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IRE Defiance Daily Target 2X Long IREN ETF | 0.00% | 0.00% | 0.00% |
XMAG Defiance Large Cap ex-Mag 7 ETF | 0.46% | 0.51% | 0.24% |
Frequently Asked Questions
IRE and XMAG have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XMAG is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XMAG is cheaper with a 0.35% expense ratio, compared with 1.31% for IRE.
XMAG has the higher dividend yield at 0.46%, compared with 0.00% for IRE.
IRE is categorized as Leveraged Equities, while XMAG is Large Cap Blend Equities. Their fees differ too: 1.31% for IRE and 0.35% for XMAG.
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