VIAV vs. IREN

Last updated Apr 1, 2026

Compare and contrast key facts about Viavi Solutions Inc. (VIAV) and Iris Energy Limited (IREN).

Performance

VIAV vs. IREN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Viavi Solutions Inc. (VIAV) and Iris Energy Limited (IREN). The values are adjusted to include any dividend payments, if applicable.

VIAV vs. IREN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VIAV Viavi Solutions Inc.	86.76%	76.44%	0.30%	-4.19%	-40.35%	12.44%
IREN Iris Energy Limited	-9.24%	284.62%	37.34%	472.00%	-92.27%	-33.87%

Fundamentals

Market Cap VIAV : $7.43B IREN : $10.22B
EPS VIAV : -$0.19 IREN : -$0.06
PS Ratio VIAV : 6.01 IREN : 11.28
PB Ratio VIAV : 8.91 IREN : 4.07
Total Revenue (TTM) VIAV : $1.24B IREN : $760.38M
Gross Profit (TTM) VIAV : $701.10M IREN : $461.29M
EBITDA (TTM) VIAV : -$15.80M IREN : $461.18M

Returns By Period

In the year-to-date period, VIAV achieves a 86.76% return, which is significantly higher than IREN's -9.24% return.

VIAV

• 1D: 4.62%
• 1M: 12.02%
• YTD: 86.76%
• 6M: 162.25%
• 1Y: 197.41%
• 3Y*: 45.38%
• 5Y*: 15.75%
• 10Y*: 16.97%

IREN

• 1D: 8.41%
• 1M: -16.29%
• YTD: -9.24%
• 6M: -26.96%
• 1Y: 462.89%
• 3Y*: 123.76%
• 5Y*: —
• 10Y*: —

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

Return for Risk

VIAV vs. IREN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VIAV

VIAV Risk / Return Rank: 97
VIAV Sharpe Ratio Rank: 98
VIAV Sortino Ratio Rank: 97
VIAV Omega Ratio Rank: 97
VIAV Calmar Ratio Rank: 98
VIAV Martin Ratio Rank: 97

IREN

IREN Risk / Return Rank: 96
IREN Sharpe Ratio Rank: 99
IREN Sortino Ratio Rank: 96
IREN Omega Ratio Rank: 92
IREN Calmar Ratio Rank: 98
IREN Martin Ratio Rank: 96

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VIAV vs. IREN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Viavi Solutions Inc. (VIAV) and Iris Energy Limited (IREN). 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.

	VIAV	IREN	Difference
Sharpe ratio Return per unit of total volatility	3.60	4.74	-1.14
Sortino ratio Return per unit of downside risk	3.96	3.68	+0.28
Omega ratio Gain probability vs. loss probability	1.62	1.43	+0.19
Calmar ratio Return relative to maximum drawdown	9.22	7.93	+1.29
Martin ratio Return relative to average drawdown	19.66	17.28	+2.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VIAV vs. IREN - Sharpe Ratio Comparison

The current VIAV Sharpe Ratio is 3.60, which is comparable to the IREN Sharpe Ratio of 4.74. The chart below compares the historical Sharpe Ratios of VIAV and IREN, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VIAV	IREN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.60	4.74	-1.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.07	+0.39

Correlation

The correlation between VIAV and IREN is 0.28, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

VIAV vs. IREN - Dividend Comparison

Neither VIAV nor IREN has paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VIAV Viavi Solutions Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	77.01%
IREN Iris Energy 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%

Drawdowns

VIAV vs. IREN - Drawdown Comparison

The maximum VIAV drawdown since its inception was -62.88%, smaller than the maximum IREN drawdown of -95.73%. Use the drawdown chart below to compare losses from any high point for VIAV and IREN.

Drawdown Indicators

	VIAV	IREN	Difference
Max Drawdown Largest peak-to-trough decline	-62.88%	-95.73%	+32.85%
Max Drawdown (1Y) Largest decline over 1 year	-21.21%	-58.62%	+37.41%
Max Drawdown (5Y) Largest decline over 5 years	-62.88%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-62.88%	—	—
Current Drawdown Current decline from peak	-10.71%	-55.14%	+44.43%
Average Drawdown Average peak-to-trough decline	-20.18%	-63.97%	+43.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.95%	26.89%	-16.94%

Volatility

VIAV vs. IREN - Volatility Comparison

The current volatility for Viavi Solutions Inc. (VIAV) is 25.77%, while Iris Energy Limited (IREN) has a volatility of 30.29%. This indicates that VIAV experiences smaller price fluctuations and is considered to be less risky than IREN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIAV	IREN	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.77%	30.29%	-4.52%
Volatility (6M) Calculated over the trailing 6-month period	47.84%	77.56%	-29.72%
Volatility (1Y) Calculated over the trailing 1-year period	55.18%	98.40%	-43.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.05%	119.14%	-79.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.89%	119.14%	-82.25%

Financials