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IREZ vs TSDD

Tradr 2X Short IREN Daily ETF

IREZBCboe

GraniteShares 2x Short TSLA Daily ETF

TSDDANasdaq

Overlap

Expense ratio

TSDD −0.51pt a year

IREZ1.49%TSDD0.98%

Avg volume · 30D

TSDD 5.4×the volume

IREZ2.03MTSDD11M

IREZ vs TSDD Performance

Jul 31, 2026 – Nov 2, 2026

+63.4%IREZ−47.1%TSDD

Jul 31, 2026 to Nov 2, 2026. IREZ +63.4%. TSDD −47.1%. Use the arrow keys to read each point.−25%0%25%50%Jul 2026Sep 2026Nov 2026
Expense ratio
IREZ 1.49%
TSDD 0.98%, better
Fund size
IREZ $10M
TSDD $30M
1Y total return
IREZ No data
TSDD −26.1%
Yield (12M)
IREZ No data
TSDD 10.76%
Holdings
IREZ 2
TSDD 1
Avg volume (30D)
IREZ 2.03M sh
TSDD 11M sh, better
NAV per share
IREZ $26.56
TSDD $6.18
52W range

ETF.net Grade

IREZ: Cost 25, Risk 40, Mission 97, Tradability 67, Holdings not scored, Durability 39. TSDD: Cost 94, Risk 49, Mission 98, Tradability 81, Holdings not scored, Durability 72.
Pillar letters and Scores for IREZ, TSDD, with each pillar’s weight
PillarIREZTSDD
Cost30% weightD25A94Higher
Mission25% weightA97A98Higher
Risk15% weightC40C49Higher
Tradability15% weightB67A81Higher
Holdings10% weightNot scoredNot scored
Durability5% weightD39A72Higher

Rank among Single-Stock Inverse funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. IREZ and TSDD are both graded against the same 43 Single-Stock Inverse funds, so their Grades compare head to head.

Single-Stock Inverse⁠

Category · 43 funds
See all 43 ›

TSDD ranks 2nd and IREZ 22nd of 43 funds in the Single-Stock Inverse Category.

  1. Rank 1AAAPDDirexion Daily AAPL Bear 1X ETFScore 86
  2. Rank 2ATSDDGraniteShares 2x Short TSLA Daily ETFScore 84
  3. Rank 3ATSLSDirexion Daily TSLA Bear 1X ETFScore 81
  4. Rank 21BAMDDDirexion Daily AMD Bear 1X ETFScore 56
  5. Rank 22BIREZTradr 2X Short IREN Daily ETFScore 55
  6. Rank 23CCONIGraniteShares 2x Short COIN Daily ETFScore 50

Our read on each fund

ETF.net Research

IREZBTradr 2X Short IREN Daily ETF

TSDDAGraniteShares 2x Short TSLA Daily ETF

In short

IREZ A 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.

TSDD Tesla bears pick their dosage; this is the double. TSDD aims for -2x TSLA's move each day, reset daily, at 0.95% net of a waiver through December 31, 2026. Designed as a short-term tool, not a buy-and-forget holding.

Stated mandate

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

TSDD The fund seeks daily results before fees and expenses equal to negative 200% of the daily percentage change in Tesla's common stock. It is designed as a short-term inverse leveraged vehicle.

Why people hold it

  • IREZ Targets -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.
  • One 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.
  • Actively traded for a fund of its size, so entering and exiting a short-term position is generally the easy part.
  • TSDD 0.95% net of a waiver through December 31, 2026 (1.13% gross) undercuts fellow 2x short Tesla fund TSLZ at 1.05% and matches 1x bear TSLS at 0.95%, for double the daily exposure.
  • Hews closely to its stated -2x daily target, one of the tighter implementations among single-stock bear funds.
  • Heavily traded for an inverse single-stock fund, so getting in and out is rarely a chore.
  • A 1940 Act ETF that uses swaps and options on TSLA to sit near 200% short at each close: no margin account or stock borrow on your end.graniteshares.com

Worth knowing

  • IREZ The -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.
  • The 1.49% expense ratio sits above several rival inverse single-stock funds, such as MSTZ at 1.05% and TSDD at 1.13%.
  • Launched in 2026 and small, so it carries a short operating history next to the longer-running bear funds in its category.
  • TSDD The -2x target resets every day. Hold longer and compounding pulls results away from -2x TSLA's cumulative move, in either direction.graniteshares.com
  • One stock, geared twice: a sharp TSLA rally bites just as hard in reverse. Risk is the highest-octane part of this package.
  • A small fund, and the fee waiver runs through December 31, 2026; after that costs can step up toward the 1.13% gross level.

Full IREZ profile⁠

Full TSDD profile⁠

IREZ vs TSDD Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

IREZ vs TSDD Cost

Overpaying IREZ vs TSDD

$7,779

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • IREZ 1.49%

    $26,141

  • TSDD 0.98%

    $18,362

$10,000
30 years

Cost over time

  • IREZ 1.49%
  • TSDD 0.98%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K051015202530IREZ $26,141TSDD $18,362

Year by year

YearIREZTSDDOverpaying
10$2,574$1,729$845
20$9,464$6,504$2,960
30$26,141$18,362$7,779

Expense ratio

  • 1.49%IREZ
  • 0.98%TSDD, cheaper
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

TSDD 5th cheapest of 43 funds

IREZ 31st cheapest of 43 funds

IREZ vs TSDD Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
IREZ No data
TSDD 10.76%
Payout (12M)
IREZ None
TSDD $0.65
Last payment
IREZ No data
TSDD $0.65
Ex-dividend
IREZ No data
TSDD Dec 29, 2025
Paid on
IREZ No data
TSDD Dec 31, 2025
Frequency
IREZ No data
TSDD Irregular

Distribution history

Per share, 2023 to 2026, same scale for both

IREZAll IREZ payments⁠

No distribution history available.

TSDDIrregular · 2 paymentsAll TSDD payments⁠
One bar per payment. 2 payments from 2023 to 2026 YTD. Dec 27, 2023 $77.34; Dec 29, 2025 $0.65. Use the arrow keys to read each point.$0$5020232026YTD

IREZ vs TSDD Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
IREZ No dataTSDD 100.6%
Return per unit of riskSharpe ratio, 3 years
IREZ No dataTSDD −0.87
Worst fallMax drawdown, 5 years
IREZ No dataTSDD −99.1%since Aug 2023
Market sensitivityBeta, 5 years
IREZ −5.89TSDD −2.40

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