# IREX (Tradr 2X Long IREN Daily ETF)

Tradr · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: IREX returned −36.4% where its own daily promise gave −33.1%, 3.3 points short.

## Key facts

- IREX, what IREN did: −5.6%, as of Sep 30, 2026.
- IREX, what 2 times a day gives: −33.1%, as of Sep 30, 2026.
- IREX, what the fund returned: −36.4%, as of Sep 30, 2026.
- IREX, the fund itself cost: −3.3 pts, as of Sep 30, 2026.
- IREX, net assets: $49m (the issuer’s own daily fund list, as of Sep 30, 2026).
- IREX, expense ratio: 1.30% (485BPOS XBRL, Oct 21, 2025).

## IREX over each window to Sep 30, 2026

| Window | Fund | IREN | +2x the move | Difference | IREN moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +15.6% | +10.1% | +20.3% | −4.7 pts | 64% |
| 3 months | −36.4% | −5.6% | −11.3% | −25.2 pts | 113% |
| 6 months | −22.8% | +19.9% | +39.8% | −62.6 pts | 106% |
| Since launch | −84.6% | −26.8% | −53.6% | −30.9 pts | 108% |

## 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 | +6.47 times, against +2 stated | ETFIQ |
| Underlying | IREN | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $49m | the issuer’s own daily fund list, as of Sep 30, 2026 |
| Expense ratio | 1.30% | 485BPOS XBRL, Oct 21, 2025 |
| Launched | Oct 23, 2025 | ETFIQ |
| Underlying volatility over the window | 113% annualized | ETFIQ |

## Questions

### Did IREX return +2 times IREN?

Over the window to Sep 30, 2026, IREN moved −5.6% and IREX returned −36.4%. 2 times that move is −11.3%, so the fund came out 25.2 points short of it.

### Why does IREX not return +2 times over a year?

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.

### Which +2x IREN ETF tracked its stated multiple most closely?

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 figure itself.


## Cite this page

ETFIQ, IREX, data as of Sep 30, 2026. https://etfiq.com/funds/irex
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

HTML: https://etfiq.com/funds/irex  ·  JSON: https://etfiq.com/funds/irex.json