{"url":"https://etfiq.com/compare/leverage/ire-vs-irez","section":"compare","title":"IRE vs IREZ: which held to its multiple? | ETFIQ","description":"IRE sets out to return +2 times IREN each day and IREZ -2 times. Over the three months to Sep 30, 2026 they finished \u221228.4 pts and \u221274.8 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, IRE or IREZ?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, IRE finished 28.4 points from what its multiple implies and IREZ finished 74.8 points from its own, so IRE came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are IRE and IREZ levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on IREN, IRE at +2 times and IREZ at -2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, IRE or IREZ?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window IRE\u2019s moved at 113% annualized and IREZ\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 IREZ 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 IREZ?","acceptedAnswer":{"@type":"Answer","text":"IRE charges 1.35% a year and IREZ charges 1.49%, so IRE 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 IREZ","item":"https://etfiq.com/compare/leverage/ire-vs-irez"}]},{"@type":"WebPage","name":"IRE vs IREZ: which held to its multiple?","description":"IRE sets out to return +2 times IREN each day and IREZ -2 times. Over the three months to Sep 30, 2026 they finished \u221228.4 pts and \u221274.8 pts away.","url":"https://etfiq.com/compare/leverage/ire-vs-irez","dateModified":"2026-09-30","abstract":"Over three months against its own daily promise, IRE finished 6.5 points short and IREZ 0.1 points short.","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 IREZ","description":"IRE sets out to return +2 times IREN each day and IREZ -2 times. Over the three months to Sep 30, 2026 they finished \u221228.4 pts and \u221274.8 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/ire-vs-irez","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":6991,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / IRE vs IREZ \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n IRE vs IREZ: which held to its multiple?\n\n Over three months against its own daily promise, IRE finished 6.5 points short and IREZ 0.1 points short.\n Copy this for sharing \n \n Defiance Daily Target 2X Long IREN ETF and Tradr 2X Short IREN Daily ETF.\n\n Download as PDF \n\n \u221239.6% IRE returned, 3 months \n \u221263.5% IREZ returned, 3 months \n \u221228.4 pts IRE from its stated multiple \n \u221274.8 pts IREZ from its stated multiple \n\n ETFIQ Decay Resistance Score: IREZ scores higher\n Did it","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-irez","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":"IREZ","name":"Tradr 2X Short IREN Daily ETF","issuer":"Tradr","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: IREZ returned \u221263.5% where its own daily promise gave \u221263.4%, 0.1 points short.","url":"https://etfiq.com/funds/irez","key_facts":[{"label":"What IREN did","value":"\u22125.6%","as_of":"2026-09-30","source":null},{"label":"What \u22122 times a day gives","value":"\u221263.4%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221263.5%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22120.1 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$10m","as_of":"2026-09-30","source":"the issuer\u2019s own daily fund list, as of Sep 30, 2026"},{"label":"Expense ratio","value":"1.49%","as_of":"2026-09-30","source":"485BPOS XBRL, Jan 20, 2026"}]},"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-irez"}