{
 "ticker": "IREZ",
 "name": "Tradr 2X Short IREN Daily ETF",
 "issuer": "Tradr",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/IREZ",
 "html": "https://etfiq.com/funds/IREZ",
 "markdown": "https://etfiq.com/funds/IREZ.md",
 "as_of": "2026-09-11",
 "verdict": "Three months to Sep 11, 2026: IREZ returned \u221240.3% where its own daily promise gave \u221240.0%, 0.3 points short.",
 "key_facts": [
  {
   "key": "what_iren_did",
   "label": "What IREN did",
   "value": "\u221226.7%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "IREZ, what IREN did: \u221226.7%, as of Sep 11, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What \u22122 times a day gives",
   "value": "\u221240.0%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "IREZ, what \u22122 times a day gives: \u221240.0%, as of Sep 11, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221240.3%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "IREZ, what the fund returned: \u221240.3%, as of Sep 11, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22120.3 pts",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "IREZ, the fund itself cost: \u22120.3 pts, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$16m",
   "source": "source, as filed for Jun 30, 2026",
   "as_of": "2026-09-11",
   "sentence": "IREZ, net assets: $16m (source, as filed for Jun 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.49%",
   "source": "485BPOS XBRL, Jan 20, 2026",
   "as_of": "2026-09-11",
   "sentence": "IREZ, expense ratio: 1.49% (485BPOS XBRL, Jan 20, 2026)."
  }
 ],
 "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": "+1.51 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": "$16m",
   "source": "source, as filed for Jun 30, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.49%",
   "source": "485BPOS XBRL, Jan 20, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Jan 22, 2026",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "115% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u221215.0%",
   "IREN": "+0.4%",
   "-2x the move": "\u22120.7%",
   "Difference": "\u221214.3 pts",
   "IREN moved about": "80%"
  },
  {
   "window": "3 months",
   "Fund": "\u221240.3%",
   "IREN": "\u221226.7%",
   "-2x the move": "+53.3%",
   "Difference": "\u221293.6 pts",
   "IREN moved about": "115%"
  },
  {
   "window": "6 months",
   "Fund": "\u221287.1%",
   "IREN": "+5.4%",
   "-2x the move": "\u221210.8%",
   "Difference": "\u221276.3 pts",
   "IREN moved about": "109%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221288.9%",
   "IREN": "\u221216.1%",
   "-2x the move": "+32.3%",
   "Difference": "\u2212121.2 pts",
   "IREN moved about": "111%"
  }
 ],
 "questions": [
  {
   "q": "Did IREZ return -2 times IREN?",
   "a": "Over the window to Sep 11, 2026, IREN moved \u221226.7% and IREZ returned \u221240.3%. 2 times that move is +53.3%, so the fund came out 93.6 points short of it."
  },
  {
   "q": "Why does IREZ not return -2 times over a year?",
   "a": "Because it resets daily. IREZ 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."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}