IREG vs. AVXX

Last updated Jun 24, 2026

IREG (Leverage Shares 2X Long IREN Daily ETF) and AVXX (Defiance Daily Target 2X Long AVAV ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.39 correlation, their price movements are largely independent. IREG charges 0.75%/yr vs 1.31%/yr for AVXX.

Performance

IREG vs. AVXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long IREN Daily ETF (IREG) and Defiance Daily Target 2X Long AVAV ETF (AVXX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IREG achieves a 15.19% return, which is significantly higher than AVXX's -75.83% return.

IREG

• 1D: -7.71%
• 1M: -15.58%
• YTD: 15.19%
• 6M: -7.34%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVXX

• 1D: -3.19%
• 1M: -33.49%
• YTD: -75.83%
• 6M: -79.36%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IREG vs. AVXX - Yearly Performance Comparison

	2026 (YTD)	2025
IREG Leverage Shares 2X Long IREN Daily ETF	15.19%	16.86%
AVXX Defiance Daily Target 2X Long AVAV ETF	-75.83%	4.64%

Correlation

The correlation between IREG and AVXX is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 16, 2025	0.39

Return for Risk

IREG vs. AVXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long IREN Daily ETF (IREG) and Defiance Daily Target 2X Long AVAV ETF (AVXX). 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.

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

Drawdowns

IREG vs. AVXX - Drawdown Comparison

The maximum IREG drawdown since its inception was -80.08%, smaller than the maximum AVXX drawdown of -91.13%. Use the drawdown chart below to compare losses from any high point for IREG and AVXX.

Drawdown Indicators

	IREG	AVXX	Difference
Max Drawdown Largest peak-to-trough decline	-80.08%	-91.13%	+11.05%
Current Drawdown Current decline from peak	-54.09%	-91.13%	+37.04%
Average Drawdown Average peak-to-trough decline	-44.16%	-63.46%	+19.30%

Volatility

Volatility by Period

	IREG	AVXX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	207.96%	153.82%	+54.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	207.96%	153.82%	+54.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	207.96%	153.82%	+54.14%

IREG vs. AVXX - Expense Ratio Comparison

IREG has a 0.75% expense ratio, which is lower than AVXX's 1.31% expense ratio.

Dividends

IREG vs. AVXX - Dividend Comparison

IREG has not paid dividends to shareholders, while AVXX's dividend yield for the trailing twelve months is around 1.49%.

Position	TTM	2025
AVXX Defiance Daily Target 2X Long AVAV ETF	1.49%	0.36%
IREG Leverage Shares 2X Long IREN Daily ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both IREG and AVXX in my portfolio?

IREG and AVXX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IREG or AVXX?

On fees, IREG 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, IREG or AVXX?

IREG is cheaper with a 0.75% expense ratio, compared with 1.31% for AVXX.

Which ETF pays a higher dividend yield, IREG or AVXX?

AVXX has the higher dividend yield at 1.49%, compared with 0.00% for IREG.

What is the main difference between IREG and AVXX?

They also come from different issuers: Leverage Shares and Defiance ETFs. Their fees differ too: 0.75% for IREG and 1.31% for AVXX.