ETF overview
IRE uses swap agreements and short-dated listed call options to make bullish bets on the share price of IREN Limited (NASDAQ: IREN). IREN Limited operates energy-efficient data centers that provide computing infrastructure for Bitcoin mining and AI workloads, focusing on scalable, sustainable power use for high-performance data processing. The fund seeks to maintain daily leveraged exposure equivalent to 200% of the daily percentage change in IRENs price through daily rebalancing. Returns may deviate from the expected 2x if held for longer than a single day due to factors such as volatility, compounding, or rebalancing effects. IRE may also hold US government securities, money market funds, short-term bond ETFs, and investment-grade corporate debt as collateral for its derivatives positions.
Fund facts
- Leverage
- 2x daily
- Expense ratio
- 1.35%
- Fund assets
- 101.43M USD (all share classes)
- Issuer
- Defiance
- Inception date
- Oct 20, 2025
- Number of holdings
- 10
Holdings (10)
| Name | Ticker | Exposure |
|---|---|---|
| United States Treasury Bill 11/19/2026 | 115.62% | |
| IREN LIMITED SWAP JNST-L | 35.98% | |
| IREN LTD SWAP MAR-L | 33.52% | |
| IREN LTD SWAP CS-L | 33.45% | |
| IREN LIMITED-SWAP-MSCS-L | 27.97% | |
| IREN LIMITED SWAP NBC-L | 23.13% | |
| IREN LTD SWAP CANTOR-L | 18.57% | |
| IREN LIMITED SWAP BMOB-L | 15.99% | |
| IREN LIMITED SWAP NM | 13.51% | |
| First American Government Obligations Fund 12/01/2031 | 0.13% |
This is a leveraged or inverse fund. Exposure is each position's value as a share of the fund's net assets, so swaps and futures can take it above 100% or below 0%. Cash held as collateral is not listed.
Historical returns do not guarantee future returns. This is not investment advice.
- Leverage
- 2x daily
- Expense ratio
- 1.35%
- Fund assets
- 101.43M USD (all share classes)
- Issuer
- Defiance
- Inception date
- Oct 20, 2025
- Number of holdings
- 10
| Name | Ticker | Exposure |
|---|---|---|
| United States Treasury Bill 11/19/2026 | 115.62% | |
| IREN LIMITED SWAP JNST-L | 35.98% | |
| IREN LTD SWAP MAR-L | 33.52% | |
| IREN LTD SWAP CS-L | 33.45% | |
| IREN LIMITED-SWAP-MSCS-L | 27.97% | |
| IREN LIMITED SWAP NBC-L | 23.13% | |
| IREN LTD SWAP CANTOR-L | 18.57% | |
| IREN LIMITED SWAP BMOB-L | 15.99% | |
| IREN LIMITED SWAP NM | 13.51% | |
| First American Government Obligations Fund 12/01/2031 | 0.13% |
This is a leveraged or inverse fund. Exposure is each position's value as a share of the fund's net assets, so swaps and futures can take it above 100% or below 0%. Cash held as collateral is not listed.
IRE uses swap agreements and short-dated listed call options to make bullish bets on the share price of IREN Limited (NASDAQ: IREN). IREN Limited operates energy-efficient data centers that provide computing infrastructure for Bitcoin mining and AI workloads, focusing on scalable, sustainable power use for high-performance data processing. The fund seeks to maintain daily leveraged exposure equivalent to 200% of the daily percentage change in IRENs price through daily rebalancing. Returns may deviate from the expected 2x if held for longer than a single day due to factors such as volatility, compounding, or rebalancing effects. IRE may also hold US government securities, money market funds, short-term bond ETFs, and investment-grade corporate debt as collateral for its derivatives positions.
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