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. A 0.51 correlation means they provide meaningful diversification when combined. 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 15.19% return, which is significantly higher than MSTP's -69.31% return.
IREG
- 1D
- -7.71%
- 1M
- -15.58%
- YTD
- 15.19%
- 6M
- -7.34%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSTP
- 1D
- -9.68%
- 1M
- -60.57%
- YTD
- -69.31%
- 6M
- -71.78%
- 1Y
- -96.14%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IREG vs. MSTP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IREG Leverage Shares 2X Long IREN Daily ETF | 15.19% | 16.86% |
MSTP GraniteShares 2x Long MSTR Daily ETF | -69.31% | -14.11% |
Correlation
The correlation between IREG and MSTP is 0.51, 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 16, 2025 | 0.51 |
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Return for Risk
IREG vs. MSTP — Risk / Return Rank
IREG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MSTP
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.
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 | MSTP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.78 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.99 | — |
| Martin ratioReturn relative to average drawdown | — | -1.24 | — |
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Drawdowns
IREG vs. MSTP - Drawdown Comparison
The maximum IREG drawdown since its inception was -80.08%, smaller than the maximum MSTP drawdown of -97.39%. 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% | -97.39% | +17.31% |
Max Drawdown (1Y)Largest decline over 1 year | — | -97.39% | — |
Current DrawdownCurrent decline from peak | -54.09% | -97.39% | +43.30% |
Average DrawdownAverage peak-to-trough decline | -44.16% | -69.72% | +25.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 77.44% | — |
Volatility
IREG vs. MSTP - Volatility Comparison
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Volatility by Period
| IREG | MSTP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 44.19% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 115.53% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 207.96% | 143.94% | +64.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 207.96% | 141.80% | +66.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 207.96% | 141.80% | +66.16% |
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 0.51, 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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