IREN vs. SPHD

Last updated Aug 4, 2026

IREN (IREN Limited) is a stock, while SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) is Dividend fund tracking the S&P 500 Low Volatility High Dividend Index. Over the past 3 years, IREN returned 92.64%/yr vs 12.75%/yr for SPHD. Their 0.12 correlation means their historical movements had little consistent relationship.

Performance

IREN vs. SPHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IREN Limited (IREN) and Invesco S&P 500® High Dividend Low Volatility ETF (SPHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IREN achieves a 5.24% return, which is significantly lower than SPHD's 12.76% return.

IREN

• 1D: 8.02%
• 1M: 2.40%
• 6M: -25.11%
• YTD: 5.24%
• 1Y: 158.12%
• 3Y*: 92.64%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.72%

SPHD

• 1D: 0.42%
• 1M: 1.31%
• 6M: 7.84%
• YTD: 12.76%
• 1Y: 15.99%
• 3Y*: 12.75%
• 5Y*: 8.21%
• 10Y*: 7.28%
• ALL TIME*: 9.85%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IREN IREN Limited	$1.87B	$1.81B	$2.52B
SPHD Invesco S&P 500® High Dividend Low Volatility ETF	$46.06M	$45.99M	$42.71M

IREN vs. SPHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IREN IREN Limited	5.24%	284.62%	37.34%	472.00%	-92.27%	-42.25%
SPHD Invesco S&P 500® High Dividend Low Volatility ETF	12.76%	3.41%	18.08%	1.32%	0.58%	4.31%

Correlation

The correlation between IREN and SPHD is -0.16, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.16
Correlation (3Y) Balances recent behavior with more history.	0.06
Correlation (All Time) Calculated using the full available price history since Nov 17, 2021	0.12

The correlation between IREN and SPHD shifts across timeframes, from -0.16 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IREN vs. SPHD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IREN

IREN Risk / Return Rank: 82
IREN Sharpe Ratio Rank: 84
IREN Sortino Ratio Rank: 84
IREN Omega Ratio Rank: 78
IREN Calmar Ratio Rank: 84
IREN Martin Ratio Rank: 78

SPHD

SPHD Risk / Return Rank: 55
SPHD Sharpe Ratio Rank: 56
SPHD Sortino Ratio Rank: 60
SPHD Omega Ratio Rank: 50
SPHD Calmar Ratio Rank: 61
SPHD Martin Ratio Rank: 47

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IREN vs. SPHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IREN Limited (IREN) and Invesco S&P 500® High Dividend Low Volatility ETF (SPHD). 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.

	IREN	SPHD	Difference
Sharpe ratio: Return per unit of total volatility	1.42	1.36	+0.06
Sortino ratio: Return per unit of downside risk	2.30	2.06	+0.24
Omega ratio: Gain probability vs. loss probability	1.25	1.23	+0.02
Calmar ratio: Return relative to maximum drawdown	2.58	2.19	+0.39
Martin ratio: Return relative to average drawdown	4.58	5.46	-0.88

IREN vs. SPHD - Sharpe Ratio Comparison

The current IREN Sharpe Ratio is 1.42, which is comparable to the SPHD Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of IREN and SPHD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IREN vs. SPHD - Drawdown Comparison

The maximum IREN drawdown since its inception was -96.21%, which is greater than SPHD's maximum drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for IREN and SPHD.

Drawdown Indicators

	IREN	SPHD	Difference
Max Drawdown Largest peak-to-trough decline	-96.21%	-41.39%	-54.82%
Max Drawdown (1Y) Largest decline over 1 year	-61.64%	-7.33%	-54.31%
Max Drawdown (3Y) Largest decline over 3 years	-65.56%	-13.29%	-52.27%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.39%	—
Current Drawdown Current decline from peak	-47.98%	-1.83%	-46.15%
Average Drawdown Average peak-to-trough decline	-64.78%	-4.66%	-60.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.70%	2.94%	+31.76%

Volatility

IREN vs. SPHD - Volatility Comparison

IREN Limited (IREN) has a higher volatility of 44.79% compared to Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) at 4.36%. This indicates that IREN's price experiences larger fluctuations and is considered to be riskier than SPHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IREN	SPHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	44.79%	4.36%	+40.43%
Volatility (6M) Calculated over the trailing 6-month period	79.63%	9.03%	+70.60%
Volatility (1Y) Calculated over the trailing 1-year period	112.30%	11.80%	+100.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	119.15%	14.24%	+104.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	119.15%	17.67%	+101.48%

Dividends

IREN vs. SPHD - Dividend Comparison

IREN has not paid dividends to shareholders, while SPHD's dividend yield for the trailing twelve months is around 4.54%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IREN IREN Limited	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPHD Invesco S&P 500® High Dividend Low Volatility ETF	4.54%	4.02%	3.41%	4.48%	3.89%	3.45%	4.89%	4.07%	4.40%	3.14%	3.83%	3.49%

Frequently Asked Questions

Can I hold both IREN and SPHD in my portfolio?

IREN and SPHD have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IREN or SPHD?

IREN has higher volatility (44.79%) compared to SPHD (4.36%). In terms of maximum drawdown, IREN dropped -96.21% vs SPHD's -41.39%.

Which has better risk-adjusted returns?

IREN currently has the higher Sharpe Ratio (1.42 vs 1.36), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.