BMNU vs. IREG

Last updated Jun 5, 2026

BMNU (T-REX 2X Long BMNR Daily Target ETF) and IREG (Leverage Shares 2X Long IREN Daily ETF) are both Leveraged Equities funds. Both are actively managed. A 0.58 correlation means they provide meaningful diversification when combined. BMNU charges 1.50%/yr vs 0.75%/yr for IREG.

Performance

BMNU vs. IREG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-REX 2X Long BMNR Daily Target ETF (BMNU) and Leverage Shares 2X Long IREN Daily ETF (IREG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BMNU achieves a -73.22% return, which is significantly lower than IREG's 56.37% return.

BMNU

• 1D: 10.82%
• 1M: -43.61%
• YTD: -73.22%
• 6M: -86.27%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IREG

• 1D: -11.36%
• 1M: 14.10%
• YTD: 56.37%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BMNU vs. IREG - Yearly Performance Comparison

	2026 (YTD)	2025
BMNU T-REX 2X Long BMNR Daily Target ETF	-73.22%	-27.47%
IREG Leverage Shares 2X Long IREN Daily ETF	56.37%	3.65%

Correlation

The correlation between BMNU and IREG is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 17, 2025	0.58

Return for Risk

BMNU vs. IREG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-REX 2X Long BMNR Daily Target ETF (BMNU) and Leverage Shares 2X Long IREN Daily ETF (IREG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BMNU	IREG	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.53	0.90	-1.42

Drawdowns

BMNU vs. IREG - Drawdown Comparison

The maximum BMNU drawdown since its inception was -97.05%, which is greater than IREG's maximum drawdown of -80.08%. Use the drawdown chart below to compare losses from any high point for BMNU and IREG.

Drawdown Indicators

	BMNU	IREG	Difference
Max Drawdown Largest peak-to-trough decline	-97.05%	-80.08%	-16.97%
Current Drawdown Current decline from peak	-96.73%	-37.68%	-59.05%
Average Drawdown Average peak-to-trough decline	-79.79%	-44.04%	-35.75%

Volatility

Volatility by Period

	BMNU	IREG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	187.61%	207.94%	-20.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	187.61%	207.94%	-20.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	187.61%	207.94%	-20.33%

BMNU vs. IREG - Expense Ratio Comparison

BMNU has a 1.50% expense ratio, which is higher than IREG's 0.75% expense ratio.

Dividends

BMNU vs. IREG - Dividend Comparison

Neither BMNU nor IREG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BMNU and IREG in my portfolio?

BMNU and IREG have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BMNU or IREG?

On fees, IREG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BMNU or IREG?

IREG is cheaper with a 0.75% expense ratio, compared with 1.50% for BMNU.

Which ETF pays a higher dividend yield, BMNU or IREG?

BMNU and IREG have nearly identical dividend yields, around 0.00%.

What is the main difference between BMNU and IREG?

They also come from different issuers: REX and Leverage Shares. Their fees differ too: 1.50% for BMNU and 0.75% for IREG.