{"url":"https://etfiq.com/compare/leverage/irex-vs-irez","section":"compare","title":"IREX vs IREZ: which held to its multiple? | ETFIQ","description":"IREX sets out to return +2 times IREN each day and IREZ -2 times. Over the three months to Sep 30, 2026 they finished \u221225.2 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, IREX or IREZ?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, IREX finished 25.2 points from what its multiple implies and IREZ finished 74.8 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 IREX and IREZ levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on IREN, IREX at +2 times and IREZ at -2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, IREX or IREZ?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window IREX\u2019s moved at 113% annualized and IREZ\u2019s at 113%, so IREX has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold IREX 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, IREX or IREZ?","acceptedAnswer":{"@type":"Answer","text":"IREX charges 1.30% a year and IREZ charges 1.49%, 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":"IREX vs IREZ","item":"https://etfiq.com/compare/leverage/irex-vs-irez"}]},{"@type":"WebPage","name":"IREX vs IREZ: which held to its multiple?","description":"IREX sets out to return +2 times IREN each day and IREZ -2 times. Over the three months to Sep 30, 2026 they finished \u221225.2 pts and \u221274.8 pts away.","url":"https://etfiq.com/compare/leverage/irex-vs-irez","dateModified":"2026-09-30","abstract":"Over three months against its own daily promise, IREX finished 3.3 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 IREX and IREZ","description":"IREX sets out to return +2 times IREN each day and IREZ -2 times. Over the three months to Sep 30, 2026 they finished \u221225.2 pts and \u221274.8 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/irex-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":6971,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / IREX vs IREZ \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n IREX vs IREZ: which held to its multiple?\n\n Over three months against its own daily promise, IREX finished 3.3 points short and IREZ 0.1 points short.\n Copy this for sharing \n \n Tradr 2X Long IREN Daily ETF and Tradr 2X Short IREN Daily ETF.\n\n Download as PDF \n\n \u221236.4% IREX returned, 3 months \n \u221263.5% IREZ returned, 3 months \n \u221225.2 pts IREX from its stated multiple \n \u221274.8 pts IREZ from its stated multiple \n\n ETFIQ Decay Resistance Score: IREX scores higher\n Did it keep","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/irex-vs-irez","a":{"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"}]},"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/irex-vs-irez"}