IREG vs. MSTP
IREG (Leverage Shares 2X Long IREN Daily ETF) and MSTP (GraniteShares 2x Long MSTR Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.48 correlation, their price movements are largely independent. IREG charges 0.75%/yr vs 1.50%/yr for MSTP.
Performance
IREG vs. MSTP - Performance Comparison
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Returns By Period
In the year-to-date period, IREG achieves a 76.42% return, which is significantly higher than MSTP's -52.13% return.
IREG
- 1D
- -3.13%
- 1M
- 56.03%
- YTD
- 76.42%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSTP
- 1D
- -13.74%
- 1M
- -54.90%
- YTD
- -52.13%
- 6M
- -70.05%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IREG vs. MSTP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IREG Leverage Shares 2X Long IREN Daily ETF | 76.42% | 3.65% |
MSTP GraniteShares 2x Long MSTR Daily ETF | -52.13% | -19.17% |
Correlation
The correlation between IREG and MSTP is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 17, 2025 | 0.48 |
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Return for Risk
IREG vs. MSTP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long IREN Daily ETF (IREG) and GraniteShares 2x Long MSTR Daily ETF (MSTP). 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.
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Sharpe Ratios by Period
| IREG | MSTP | Difference | |
|---|---|---|---|
Sharpe Ratio (All Time)Calculated using the full available price history | 1.33 | -0.67 | +2.00 |
Drawdowns
IREG vs. MSTP - Drawdown Comparison
The maximum IREG drawdown since its inception was -80.08%, smaller than the maximum MSTP drawdown of -96.25%. Use the drawdown chart below to compare losses from any high point for IREG and MSTP.
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Drawdown Indicators
| IREG | MSTP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.08% | -96.25% | +16.17% |
Current DrawdownCurrent decline from peak | -29.69% | -95.92% | +66.23% |
Average DrawdownAverage peak-to-trough decline | -44.09% | -68.56% | +24.47% |
Volatility
IREG vs. MSTP - Volatility Comparison
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Volatility by Period
| IREG | MSTP | Difference | |
|---|---|---|---|
Volatility (1Y)Calculated over the trailing 1-year period | 208.00% | 141.47% | +66.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 208.00% | 141.47% | +66.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 208.00% | 141.47% | +66.53% |
IREG vs. MSTP - Expense Ratio Comparison
IREG has a 0.75% expense ratio, which is lower than MSTP's 1.50% expense ratio.
Dividends
IREG vs. MSTP - Dividend Comparison
Neither IREG nor MSTP has paid dividends to shareholders.
Frequently Asked Questions
IREG and MSTP have a correlation of 0.48, 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 1.50% for MSTP.
IREG and MSTP have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Leverage Shares and GraniteShares. Their fees differ too: 0.75% for IREG and 1.50% for MSTP.
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