SMCX vs. IRE.MI
SMCX (Defiance Daily Target 2X Long SMCI ETF) is Leveraged Equities fund actively managed by Defiance, while IRE.MI (Iren SpA) is a stock. Over the past year, SMCX returned -82.63% vs 1.29% for IRE.MI. At a correlation of -0.06, they often move in opposite directions.
Performance
SMCX vs. IRE.MI - Performance Comparison
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Different Trading Currencies
SMCX is traded in USD, while IRE.MI is traded in EUR. To make them comparable, the IRE.MI values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SMCX achieves a -48.60% return, which is significantly lower than IRE.MI's 0.58% return.
SMCX
- 1D
- -12.21%
- 1M
- -34.45%
- YTD
- -48.60%
- 6M
- -53.94%
- 1Y
- -82.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IRE.MI
- 1D
- 0.34%
- 1M
- -3.79%
- YTD
- 0.58%
- 6M
- 0.98%
- 1Y
- 1.29%
- 3Y*
- 21.50%
- 5Y*
- 5.14%
- 10Y*
- 11.62%
SMCX vs. IRE.MI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SMCX Defiance Daily Target 2X Long SMCI ETF | -48.60% | -69.78% | -90.42% |
IRE.MI Iren SpA | 0.58% | 58.06% | -5.68% |
Correlation
The correlation between SMCX and IRE.MI is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2024 | -0.06 |
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Return for Risk
SMCX vs. IRE.MI — Risk / Return Rank
SMCX
IRE.MI
SMCX vs. IRE.MI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long SMCI ETF (SMCX) and Iren SpA (IRE.MI). 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.
| SMCX | IRE.MI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.54 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.03 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | 0.07 | -0.94 |
| Martin ratioReturn relative to average drawdown | -1.17 | 0.19 | -1.35 |
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Drawdowns
SMCX vs. IRE.MI - Drawdown Comparison
The maximum SMCX drawdown since its inception was -99.08%, which is greater than IRE.MI's maximum drawdown of -89.88%. Use the drawdown chart below to compare losses from any high point for SMCX and IRE.MI.
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Drawdown Indicators
| SMCX | IRE.MI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.08% | -89.88% | -9.20% |
Max Drawdown (1Y)Largest decline over 1 year | -94.75% | -18.06% | -76.69% |
Max Drawdown (3Y)Largest decline over 3 years | — | -20.79% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -60.54% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.54% | — |
Current DrawdownCurrent decline from peak | -98.51% | -10.28% | -88.23% |
Average DrawdownAverage peak-to-trough decline | -88.12% | -34.23% | -53.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 70.70% | 6.92% | +63.78% |
Volatility
SMCX vs. IRE.MI - Volatility Comparison
Defiance Daily Target 2X Long SMCI ETF (SMCX) has a higher volatility of 105.83% compared to Iren SpA (IRE.MI) at 5.41%. This indicates that SMCX's price experiences larger fluctuations and is considered to be riskier than IRE.MI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMCX | IRE.MI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 105.83% | 5.41% | +100.42% |
Volatility (6M)Calculated over the trailing 6-month period | 177.60% | 17.54% | +160.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 173.86% | 22.90% | +150.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 205.25% | 27.15% | +178.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 205.25% | 26.57% | +178.68% |
Dividends
SMCX vs. IRE.MI - Dividend Comparison
SMCX's dividend yield for the trailing twelve months is around 8.53%, more than IRE.MI's 5.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IRE.MI Iren SpA | 5.50% | 5.01% | 6.19% | 5.58% | 7.14% | 3.58% | 4.34% | 3.04% | 3.33% | 2.50% | 3.53% | 3.51% |
SMCX Defiance Daily Target 2X Long SMCI ETF | 8.53% | 4.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SMCX and IRE.MI have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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