# IREZ (Tradr 2X Short IREN Daily ETF)

Tradr · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: IREZ returned −40.3% where its own daily promise gave −40.0%, 0.3 points short.

## Key facts

- IREZ, what IREN did: −26.7%, as of Sep 11, 2026.
- IREZ, what −2 times a day gives: −40.0%, as of Sep 11, 2026.
- IREZ, what the fund returned: −40.3%, as of Sep 11, 2026.
- IREZ, the fund itself cost: −0.3 pts, as of Sep 11, 2026.
- IREZ, net assets: $16m (source, as filed for Jun 30, 2026).
- IREZ, expense ratio: 1.49% (485BPOS XBRL, Jan 20, 2026).

## IREZ over each window to Sep 11, 2026

| Window | Fund | IREN | -2x the move | Difference | IREN moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −15.0% | +0.4% | −0.7% | −14.3 pts | 80% |
| 3 months | −40.3% | −26.7% | +53.3% | −93.6 pts | 115% |
| 6 months | −87.1% | +5.4% | −10.8% | −76.3 pts | 109% |
| Since launch | −88.9% | −16.1% | +32.3% | −121.2 pts | 111% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -2 times the daily move of IREN, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.51 times, against -2 stated | ETFIQ |
| Underlying | IREN | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $16m | source, as filed for Jun 30, 2026 |
| Expense ratio | 1.49% | 485BPOS XBRL, Jan 20, 2026 |
| Launched | Jan 22, 2026 | ETFIQ |
| Underlying volatility over the window | 115% annualized | ETFIQ |

## Questions

### Did IREZ return -2 times IREN?

Over the window to Sep 11, 2026, IREN moved −26.7% and IREZ returned −40.3%. 2 times that move is +53.3%, so the fund came out 93.6 points short of it.

### Why does IREZ not return -2 times over a year?

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.


## Cite this page

ETFIQ, IREZ, data as of Sep 11, 2026. https://etfiq.com/funds/IREZ
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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