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IREG

GradeBNASDAQ Global Market

Leverage Shares 2x Long IREN Daily ETF

Leveraged · Single-Stock Leveraged · LeverageShares · Inception 2025-12-16 · SEC filings

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$10.66−0.10 (−0.97%)

As of Sep 23, 2026, 2:20 PM EDT

History starts Dec 16, 2025.History starts Dec 16, 2025.
Intraday session: down, 54 prints from 10.77 to 10.66. Range 10.43 to 11.08. Use the arrow keys to read each point.$10.40$10.80$11.0010 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$32M
1Y return
—
Yield · Last 12 months
—
Holdings
5
Volume · 30D
0.7M sh
NAV per share
$10.21
52W range
low $4.57high $41.59

The ETF.net IREG Grade

B

59/ 100

Rank 41 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for IREG. Scores out of 100: Cost 67, Risk 37, Mission 85, Tradability 69, Holdings not scored, Durability 58. Strongest: Mission (85). Weakest: Risk (37). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 59 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 67
    Category rank131/380 · top 34%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 85
    Category rank106/147 · mid-pack

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 37
    Category rank192/285 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 69
    Category rank97/380 · top 26%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 58
    Category rank149/380 · top 39%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on IREG

ETF.net Research

BA 2x daily swing at a single stock, priced like an index fund. IREG aims to deliver twice IREN Limited's daily move for 0.75% a year, roughly half what the other leveraged IREN ETF charges.

Stated mandate

The fund seeks to deliver twice the daily performance of IREN Limited stock, before fees and expenses.

Why people hold it

  1. 010.75% a year, against 1.31% for the only other 2x IREN ETF (IRE), and cheaper than the typical leveraged single-stock fund.leverageshares.com
  2. 02Has hewed closely to its stated job of doubling IREN's daily move, one of the stronger implementations in the leveraged single-stock bull crowd.
  3. 03Standard 1940 Act ETF wrapper: leveraged exposure through an ordinary brokerage ticket, no margin account, options approval or K-1 paperwork.leverageshares.com

Worth knowing

  1. 01The 2x resets every day. Hold past a single session and compounding takes over, so multi-day results can drift far from twice IREN's move, especially in choppy tape.leverageshares.com
  2. 02Leverage points both ways: a rough day in IREN lands about twice as hard here, before fees.leverageshares.com
  3. 03One company, no diversification, and a track record that only starts in December 2025.

IREG Holdings

As of Sep 21, 2026, 6:58 PM
Asset class
Stocks
Holdings
5
Top-10 weight
204%
Largest holding
IREN SWAP CS181.7%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—IREN SWAP CS181.68%1,048,283$44M1
002—IREN SWAP MAR14.58%84,100$4M1
003—First American Treasury Obligations Fund 01/01/20403.96%956,672$957K147
004—IREN LIMITED-SWAP-JNST-L1.92%11,077$464K1
005—IREN SWAP CF1.79%10,300$431K1

Showing 1–5 of 5 holdings

IREG Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

IREG$6,523
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. IREG $6,523. SPY $11,430. Use the arrow keys to read each point.$1,074$13,973$26,873Dec 2025May 2026Sep 2026

Dec 31, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for IREG. Periods over one year show the average yearly return.
PeriodIREG
Year to date−34.8%
1 month+25.1%
3 months−47.7%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for IREG
YearReturn barIREG
2026 YTD−34.8%
2025+3.6%

Since listing, Dec 16, 2025

IREG in the news

ETF.net Research hasn’t filed on IREG yet — coverage lands here as it’s written.

IREG Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Dec 2025. No distributions yet.

IREG Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
9.22
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

IREG Cost

Expense ratio0.75%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

85 of the 329 Single-Stock Long Leveraged funds charge less.

IREG costs $75.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.