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Launched · SEC filings

Tradr 2X Short IREN Daily ETF

IREZCboeBThis 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.

$13.09+0.05 (+0.38%)

At close: Oct 13, 2026, 4:00 PM

B55/ 100

Rank 22 of 58 in Single-Stock Inverse

B55/100Rank 22 of 58inSingle-Stock Inverse
Intraday session: up, 79 prints from 13.04 to 13.09. Range 13.04 to 14.61. Use the arrow keys to read each point.13.5013.7514.0014.2514.5010 AM12 PM2 PM4 PM
Expense ratio
1.49%
Fund size
$9M
1Y total return
—
Yield · Last 12 months
—
Holdings
2
Avg volume · 30D
2.2M sh
NAV per share
$13.06
52W range
low $6.82high $119.01
Launched
Filings
SEC EDGAR

The ETF.net IREZ Grade

Based on 5 of 6 pillars

B

Score 55 out of 100

Category
Single-Stock Inverse⁠
Rank
22 of 58
Six-pillar profile for IREZ. Scores out of 100: Cost 31, Risk 37, Mission 96, Tradability 63, Holdings not scored, Durability 40. Strongest: Mission (96). Weakest: Cost (31). Based on 5 of 6 pillars.

Score 55 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D31 out of 100
    Rank 32 of 58

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A96 out of 100
    Rank 14 of 32

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D37 out of 100
    Rank 36 of 52

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B63 out of 100
    Rank 14 of 58

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C40 out of 100
    Rank 39 of 58

Our read on IREZ

ETF.net Research

BA one-ticker way to lean against IREN Limited. IREZ aims for two times the inverse of the stock's daily move, no margin agreement and no borrowing shares. Daily reset, built around short holding periods.

Stated mandate

The fund seeks daily investment results corresponding to two times the inverse of the daily performance of IREN Limited.

Why people hold it

  1. 01Targets -2x IREN Limited's daily move from a plain brokerage account: no margin agreement, no locating shares to borrow, and no exposure beyond the money you put in.
  2. 02One job, done tightly. Day to day the fund has landed very close to its stated inverse target, which is the whole ballgame for a leveraged trading vehicle.
  3. 03Actively traded for a fund of its size, so entering and exiting a short-term position is generally the easy part.

Worth knowing

  1. 01The -2x goal resets daily. Hold through a choppy stretch and compounding pulls your result away from twice the stock's move over that span, sometimes sharply.
  2. 02The 1.49% expense ratio sits above several rival inverse single-stock funds, such as MSTZ at 1.05% and TSDD at 1.13%.
  3. 03Launched in 2026 and small, so it carries a short operating history next to the longer-running bear funds in its category.

IREZ Holdings

As of Oct 13, 2026
Asset class
Other
Holdings
2
Top-10 weight
124%
Largest holding
Cashusd80.8%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Cashusd80.81%10,377,244$10M51
002—Cfd Iren Ltd43.62%30,546,909$6M1

Showing 1–2 of 2 holdings

IREZ Performance

Launched Jan 21, 2026

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

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
IREZ$5,008
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,332
Jul 10, 2026 to Oct 12, 2026. IREZ $5,008. SPY $10,332. Use the arrow keys to read each point.$1,715$8,882$16,050Jul 2026Aug 2026Oct 2026

Jul 10, 2026 – Oct 12, 2026

Returns run to the Oct 12, 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 IREZ. Periods over one year show the average yearly return.
PeriodIREZ
Year to dateFund launched this year—
1 month+46.7%
3 months−49.9%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper 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 IREZ
YearReturn barIREZ
2026 YTD−83.7%

History from Jan 22, 2026

IREZ in the news

Filtered to IREZ · Single-Stock Inverse

IREZ 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 Oct 12, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Jan 2026. No distributions yet.

IREZ 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 Jan 2026; 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 Jan 2026; 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 Jan 2026; 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.
−5.89
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.

IREZ Cost

Expense ratio1.49%
  • The middle half of Single-Stock Inverse funds
  • Median 1.35%

27 of the 43 Single-Stock Inverse funds charge less.

IREZ costs $149.00 a year on $10,000. The median Single-Stock Inverse fund costs $135.00.

Other funds in Single-Stock Inverse

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