{"url":"https://etfiq.com/compare/leverage/irec-vs-irez","section":"compare","title":"IREC vs IREZ: which held to its multiple? | ETFIQ","description":"IREC sets out to return +2 times IREN each day and IREZ -2 times. Over the month to Sep 30, 2026 they finished \u22125.1 pts and \u22125.0 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, IREC or IREZ?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, IREC finished 5.1 points from what its multiple implies and IREZ finished 74.8 points from its own, so IREC came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are IREC and IREZ levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on IREN, IREC at +2 times and IREZ at -2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, IREC or IREZ?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window IREC\u2019s moved at 64% annualized and IREZ\u2019s at 113%, so IREZ has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold IREC 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, IREC or IREZ?","acceptedAnswer":{"@type":"Answer","text":"IREC charges 0.45% a year and IREZ charges 1.49%, so IREC 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":"IREC vs IREZ","item":"https://etfiq.com/compare/leverage/irec-vs-irez"}]},{"@type":"WebPage","name":"IREC vs IREZ: which held to its multiple?","description":"IREC sets out to return +2 times IREN each day and IREZ -2 times. Over the month to Sep 30, 2026 they finished \u22125.1 pts and \u22125.0 pts away.","url":"https://etfiq.com/compare/leverage/irec-vs-irez","dateModified":"2026-09-30","abstract":"Over a month against its own daily promise, IREC finished 2.3 points short and IREZ 0.5 points over.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of IREC and IREZ","description":"IREC sets out to return +2 times IREN each day and IREZ -2 times. Over the month to Sep 30, 2026 they finished \u22125.1 pts and \u22125.0 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/irec-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":6397,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / IREC vs IREZ \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n IREC vs IREZ: which held to its multiple?\n\n Over a month against its own daily promise, IREC finished 2.3 points short and IREZ 0.5 points over.\n Copy this for sharing \n \n Corgi IREN 2x Daily ETF and Tradr 2X Short IREN Daily ETF.\n\n Download as PDF \n\n \u221217.3% IREC returned, since launch \n \u221263.5% IREZ returned, 3 months \n \u221229.1 pts IREC from its stated multiple \n \u221274.8 pts IREZ from its stated multiple \n\n IREC 5.1 pts short of its stated multiple \u00b7 1 month to Sep 30, 2026 ","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/irec-vs-irez","a":{"ticker":"IREC","name":"Corgi IREN 2x Daily ETF","issuer":"Corgi","desk":"leverage","as_of":"2026-09-30","verdict":"One month to Sep 30, 2026: IREC returned +15.2% where its own daily promise gave +17.4%, 2.3 points short.","url":"https://etfiq.com/funds/irec","key_facts":[{"label":"What IREN did","value":"+10.1%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"+17.4%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"+15.2%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22122.3 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$403,521","as_of":"2026-09-30","source":"the issuer\u2019s own daily fund list, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.45%","as_of":"2026-09-30","source":"485BPOS XBRL, Jun 5, 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/irec-vs-irez"}