IREG vs. EZJ
IREG (Leverage Shares 2X Long IREN Daily ETF) and EZJ (ProShares Ultra MSCI Japan) are both exchange-traded funds - IREG is a Leveraged Equities fund actively managed by Leverage Shares, while EZJ is a Japan Equities fund tracking the MSCI Japan Index (200%). IREG is actively managed, while EZJ is passively managed. Their 0.43 correlation means their historical movements had little consistent relationship. IREG charges 0.75%/yr vs 0.95%/yr for EZJ.
Performance
IREG vs. EZJ - Performance Comparison
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Returns By Period
In the year-to-date period, IREG achieves a -57.67% return, which is significantly lower than EZJ's 23.68% return.
IREG
- 1D
- -7.42%
- 1M
- -24.60%
- 6M
- -76.50%
- YTD
- -57.67%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
EZJ
- 1D
- -1.58%
- 1M
- -2.03%
- 6M
- 10.39%
- YTD
- 23.68%
- 1Y
- 52.87%
- 3Y*
- 23.37%
- 5Y*
- 8.08%
- 10Y*
- 9.99%
- ALL TIME*
- 7.88%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $65.91K | $120.27K | $216.70K | |
| $8.88M | $7.65M | $9.55M |
IREG vs. EZJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IREG Leverage Shares 2X Long IREN Daily ETF | -57.67% | 16.86% |
EZJ ProShares Ultra MSCI Japan | 23.68% | -2.90% |
Correlation
The correlation between IREG and EZJ is 0.43, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 16, 2025 | 0.43 |
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Return for Risk
IREG vs. EZJ — Risk / Return Rank
IREG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
EZJ
IREG vs. EZJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long IREN Daily ETF (IREG) and ProShares Ultra MSCI Japan (EZJ). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IREG | EZJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.24 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.06 | — |
| Martin ratioReturn relative to average drawdown | — | 5.92 | — |
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Drawdowns
IREG vs. EZJ - Drawdown Comparison
The maximum IREG drawdown since its inception was -88.63%, which is greater than EZJ's maximum drawdown of -58.63%. Use the drawdown chart below to compare losses from any high point for IREG and EZJ.
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Drawdown Indicators
| IREG | EZJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.63% | -58.63% | -30.00% |
Max Drawdown (1Y)Largest decline over 1 year | — | -26.78% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -31.48% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -58.63% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -58.63% | — |
Current DrawdownCurrent decline from peak | -83.13% | -10.32% | -72.81% |
Average DrawdownAverage peak-to-trough decline | -49.75% | -21.17% | -28.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 9.27% | — |
Volatility
IREG vs. EZJ - Volatility Comparison
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Volatility by Period
| IREG | EZJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 15.30% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 36.05% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 225.92% | 42.75% | +183.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 225.92% | 37.50% | +188.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 225.92% | 34.85% | +191.07% |
IREG vs. EZJ - Expense Ratio Comparison
IREG has a 0.75% expense ratio, which is lower than EZJ's 0.95% expense ratio.
Dividends
IREG vs. EZJ - Dividend Comparison
IREG has not paid dividends to shareholders, while EZJ's dividend yield for the trailing twelve months is around 1.92%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EZJ ProShares Ultra MSCI Japan | 1.92% | 1.13% | 2.09% | 1.11% | 0.56% | 0.00% | 0.00% | 0.24% | 4.49% |
IREG Leverage Shares 2X Long IREN Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IREG and EZJ have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
IREG is cheaper with a 0.75% expense ratio, compared with 0.95% for EZJ.
EZJ has the higher dividend yield at 1.92%, compared with 0.00% for IREG.
IREG is categorized as Leveraged Equities, while EZJ is Japan Equities. They also come from different issuers: Leverage Shares and ProShares. Their fees differ too: 0.75% for IREG and 0.95% for EZJ.
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