{
 "ticker": "IREX",
 "name": "Tradr 2X Long IREN Daily ETF",
 "issuer": "Tradr",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/IREX",
 "html": "https://etfiq.com/funds/IREX",
 "markdown": "https://etfiq.com/funds/IREX.md",
 "as_of": "2026-09-11",
 "verdict": "Three months to Sep 11, 2026: IREX returned \u221261.8% where its own daily promise gave \u221259.8%, 1.9 points short.",
 "key_facts": [
  {
   "key": "what_iren_did",
   "label": "What IREN did",
   "value": "\u221226.7%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "IREX, what IREN did: \u221226.7%, as of Sep 11, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What +2 times a day gives",
   "value": "\u221259.8%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "IREX, what +2 times a day gives: \u221259.8%, as of Sep 11, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221261.8%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "IREX, what the fund returned: \u221261.8%, as of Sep 11, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22121.9 pts",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "IREX, the fund itself cost: \u22121.9 pts, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$60m",
   "source": "source, as filed for Jun 30, 2026",
   "as_of": "2026-09-11",
   "sentence": "IREX, net assets: $60m (source, as filed for Jun 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.30%",
   "source": "485BPOS XBRL, Oct 21, 2025",
   "as_of": "2026-09-11",
   "sentence": "IREX, expense ratio: 1.30% (485BPOS XBRL, Oct 21, 2025)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of IREN, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+2.32 times, against +2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "IREN",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$60m",
   "source": "source, as filed for Jun 30, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.30%",
   "source": "485BPOS XBRL, Oct 21, 2025"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Oct 23, 2025",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "115% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u22126.4%",
   "IREN": "+0.4%",
   "+2x the move": "+0.7%",
   "Difference": "\u22127.1 pts",
   "IREN moved about": "80%"
  },
  {
   "window": "3 months",
   "Fund": "\u221261.8%",
   "IREN": "\u221226.7%",
   "+2x the move": "\u221253.3%",
   "Difference": "\u22128.4 pts",
   "IREN moved about": "115%"
  },
  {
   "window": "6 months",
   "Fund": "\u221241.8%",
   "IREN": "+5.4%",
   "+2x the move": "+10.8%",
   "Difference": "\u221252.6 pts",
   "IREN moved about": "109%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221281.8%",
   "IREN": "\u221221.5%",
   "+2x the move": "\u221243.1%",
   "Difference": "\u221238.7 pts",
   "IREN moved about": "110%"
  }
 ],
 "questions": [
  {
   "q": "Did IREX return +2 times IREN?",
   "a": "Over the window to Sep 11, 2026, IREN moved \u221226.7% and IREX returned \u221261.8%. 2 times that move is \u221253.3%, so the fund came out 8.4 points short of it."
  },
  {
   "q": "Why does IREX not return +2 times over a year?",
   "a": "Because it resets daily. IREX aims at +2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get."
  },
  {
   "q": "Which +2x IREN ETF tracked its stated multiple most closely?",
   "a": "4 issuers sell one. Over the days all of them have been trading, the table on this page ranks them by how far each finished from 2 times the underlying's move. ETFIQ does not rate funds; the order is the arithmetic."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}