{"url":"https://etfiq.com/compare/leverage/ire-vs-irex","section":"compare","title":"IRE vs IREX: which held to its multiple? | ETFIQ","description":"IRE sets out to return +2 times IREN each day and IREX +2 times. Over the three months to Sep 30, 2026 they finished \u221228.4 pts and \u221225.2 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, IRE or IREX?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, IRE finished 28.4 points from what its multiple implies and IREX finished 25.2 points from its own, so IREX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are IRE and IREX levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on IREN, IRE at +2 times and IREX at +2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, IRE or IREX?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window IRE\u2019s moved at 113% annualized and IREX\u2019s at 113%, so IRE has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold IRE or IREX for a year?","acceptedAnswer":{"@type":"Answer","text":"Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year\u2019s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way."}},{"@type":"Question","name":"Which is cheaper, IRE or IREX?","acceptedAnswer":{"@type":"Answer","text":"IRE charges 1.35% a year and IREX charges 1.30%, so IREX is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Leveraged ETFs","item":"https://etfiq.com/leverage/"},{"@type":"ListItem","position":3,"name":"IRE vs IREX","item":"https://etfiq.com/compare/leverage/ire-vs-irex"}]},{"@type":"WebPage","name":"IRE vs IREX: which held to its multiple?","description":"IRE sets out to return +2 times IREN each day and IREX +2 times. Over the three months to Sep 30, 2026 they finished \u221228.4 pts and \u221225.2 pts away.","url":"https://etfiq.com/compare/leverage/ire-vs-irex","dateModified":"2026-09-30","abstract":"Over the days both have traded, IRE finished 6.3 points from its stated multiple and IREX 4.7.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of IRE and IREX","description":"IRE sets out to return +2 times IREN each day and IREX +2 times. Over the three months to Sep 30, 2026 they finished \u221228.4 pts and \u221225.2 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/ire-vs-irex","license":"https://etfiq.com/standards/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/leverage.json"}],"variableMeasured":["Stated multiple","Underlying return","What the stated multiple implies","Fund total return","Difference against the label","Volatility of the underlying","Expense ratio"],"keywords":["exchange-traded funds","ETF","Leveraged ETFs","fund data","SEC filings"]}],"characters":6395,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / IRE vs IREX \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n IRE vs IREX: which held to its multiple?\n\n Over the days both have traded, IRE finished 6.3 points from its stated multiple and IREX 4.7.\n Copy this for sharing \n \n Defiance Daily Target 2X Long IREN ETF and Tradr 2X Long IREN Daily ETF.\n\n Download as PDF \n\n \u221239.6% IRE returned, 3 months \n \u221236.4% IREX returned, 3 months \n \u221228.4 pts IRE from its stated multiple \n \u221225.2 pts IREX from its stated multiple \n\n ETFIQ Decay Resistance Score: IREX scores higher\n Did it keep up wit","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","citation":"ETFIQ, as of Sep 30, 2026. https://etfiq.com/compare/leverage/ire-vs-irex","a":{"ticker":"IRE","name":"Defiance Daily Target 2X Long IREN ETF","issuer":"Defiance","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: IRE returned \u221239.6% where its own daily promise gave \u221233.1%, 6.5 points short.","url":"https://etfiq.com/funds/ire","key_facts":[{"label":"What IREN did","value":"\u22125.6%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"\u221233.1%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221239.6%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22126.5 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$289m","as_of":"2026-09-30","source":"the issuer\u2019s own daily fund list, as of Sep 30, 2026"},{"label":"Expense ratio","value":"1.35%","as_of":"2026-09-30","source":"485BPOS XBRL, Aug 26, 2026"}]},"b":{"ticker":"IREX","name":"Tradr 2X Long IREN Daily ETF","issuer":"Tradr","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: IREX returned \u221236.4% where its own daily promise gave \u221233.1%, 3.3 points short.","url":"https://etfiq.com/funds/irex","key_facts":[{"label":"What IREN did","value":"\u22125.6%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"\u221233.1%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221236.4%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22123.3 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$49m","as_of":"2026-09-30","source":"the issuer\u2019s own daily fund list, as of Sep 30, 2026"},{"label":"Expense ratio","value":"1.30%","as_of":"2026-09-30","source":"485BPOS XBRL, Oct 21, 2025"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/leverage/ire-vs-irex"}