# IREZ (Tradr 2X Short IREN Daily ETF)

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

Three months to Sep 30, 2026: IREZ returned −63.5% where its own daily promise gave −63.4%, 0.1 points short.

## Key facts

- IREZ, what IREN did: −5.6%, as of Sep 30, 2026.
- IREZ, what −2 times a day gives: −63.4%, as of Sep 30, 2026.
- IREZ, what the fund returned: −63.5%, as of Sep 30, 2026.
- IREZ, the fund itself cost: −0.1 pts, as of Sep 30, 2026.
- IREZ, net assets: $10m (the issuer’s own daily fund list, as of Sep 30, 2026).
- IREZ, expense ratio: 1.49% (485BPOS XBRL, Jan 20, 2026).

## IREZ over each window to Sep 30, 2026

| Window | Fund | IREN | -2x the move | Difference | IREN moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −25.3% | +10.1% | −20.3% | −5.0 pts | 64% |
| 3 months | −63.5% | −5.6% | +11.3% | −74.8 pts | 113% |
| 6 months | −89.2% | +19.9% | −39.8% | −49.3 pts | 106% |
| Since launch | −87.8% | −21.8% | +43.6% | −131.3 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 | +11.29 times, against -2 stated | ETFIQ |
| Underlying | IREN | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $10m | the issuer’s own daily fund list, as of Sep 30, 2026 |
| Expense ratio | 1.49% | 485BPOS XBRL, Jan 20, 2026 |
| Launched | Jan 22, 2026 | ETFIQ |
| Underlying volatility over the window | 113% annualized | ETFIQ |

## Questions

### Did IREZ return -2 times IREN?

Over the window to Sep 30, 2026, IREN moved −5.6% and IREZ returned −63.5%. −2 times that move is +11.3%, so the fund came out 74.8 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 30, 2026. https://etfiq.com/funds/irez
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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