IREG vs IREZ: which held to its multiple?
Over three months against its own daily promise, IREG finished 2.6 points short and IREZ 0.1 points short. Leverage Shares 2X Long IREN Daily ETF and Tradr 2X Short IREN Daily ETF.
IREG returned −35.7% while 2 times IREN's move would have been −11.3%
IREZ returned −63.5% while −2 times IREN's move would have been +11.3%
IREG among the 470 leveraged ETFs, long, over three months
IREZ among the 125 inverse ETFs over three months
A percentile among the 470 leveraged ETFs, long, over three months. IREZ is a percentile among the 125 inverse ETFs over three months, a different set, so the two marks are not on one scale. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it → How it is computed →
Performance, window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | IREG | IREZ | IREG | IREZ | IREG | IREZ |
| 1 month | +15.9% | −25.3% | +20.3% | −20.3% | −4.3 pts | −5.0 pts |
| 3 months | −35.7% | −63.5% | −11.3% | +11.3% | −24.4 pts | −74.8 pts |
| 6 months | −20.7% | −89.2% | +39.8% | −39.8% | −60.5 pts | −49.3 pts |
| Since launch IREG Dec 2025 · IREZ Jan 2026 | −52.5% | −87.8% | +23.4% | +43.6% | −76.0 pts | −131.3 pts |
IREG and IREZ over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
IREG and IREZ on the same fields, as of Sep 30, 2026. Source: ETFIQ.
IREG in plain words
Three months to Sep 30, 2026: IREG returned −35.7% where its own daily promise gave −33.1%, 2.6 points short. Read the multiple against the whole window instead and 2 times IREN's −5.6% implies −11.3%, which makes IREG look 24.4 points short. 21.8 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. IREG aims to return +2 times IREN's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. IREN moved at 113% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
IREZ in plain words
Three months to Sep 30, 2026: IREZ returned −63.5% where its own daily promise gave −63.4%, 0.1 points short. Read the multiple against the whole window instead and −2 times IREN's −5.6% implies +11.3%, which makes IREZ look 74.8 points short. 74.7 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. IREZ aims to return -2 times IREN's move each day, then resets. Over longer, the daily results compound, so the total is not -2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more.
Questions people ask
- Which came closer to its stated multiple, IREG or IREZ?
- Over the window to Sep 30, 2026, IREG finished 24.4 points from what its multiple implies and IREZ finished 74.8 points from its own, so IREG came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are IREG and IREZ levered on the same thing?
- Yes. Both are levered on IREN, IREG at +2 times and IREZ at -2 times the daily move.
- Which one decays faster, IREG or IREZ?
- Decay follows how much the underlying moves about. Over this window IREG’s moved at 113% annualized and IREZ’s at 113%, so IREG has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold IREG or IREZ for a year?
- 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’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.
ETFIQ, IREG against IREZ, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/ireg-vs-irez
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, IREG against IREZ, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/ireg-vs-irez Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, IREG against IREZ, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/ireg-vs-irez
- APA
- ETFIQ. (Sep 30, 2026). IREG against IREZ. Retrieved from https://etfiq.com/compare/leverage/ireg-vs-irez
- Markdown
- [IREG against IREZ (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/ireg-vs-irez)