IREX vs. QQQP

Last updated Aug 1, 2026

IREX (Tradr 2X Long IREN Daily ETF) and QQQP (Tradr 2X Long Triple Q Quarterly ETF) are both Leveraged Equities funds from Tradr. Both are actively managed. Their 0.54 correlation means they have sometimes moved together and sometimes differently. Both charge a 1.30% expense ratio.

Performance

IREX vs. QQQP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long IREN Daily ETF (IREX) and Tradr 2X Long Triple Q Quarterly ETF (QQQP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IREX achieves a -59.26% return, which is significantly lower than QQQP's 15.23% return.

IREX

• 1D: -7.69%
• 1M: -25.12%
• 6M: -77.29%
• YTD: -59.26%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

QQQP

• 1D: 1.56%
• 1M: -7.63%
• 6M: 13.12%
• YTD: 15.23%
• 1Y: 37.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 31.06%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IREX Tradr 2X Long IREN Daily ETF	$22.60M	$19.41M	$32.20M
QQQP Tradr 2X Long Triple Q Quarterly ETF	$865.31K	$566.51K	$438.05K

IREX vs. QQQP - Yearly Performance Comparison

	2026 (YTD)	2025
IREX Tradr 2X Long IREN Daily ETF	-59.26%	-61.06%
QQQP Tradr 2X Long Triple Q Quarterly ETF	15.23%	1.80%

Correlation

The correlation between IREX and QQQP is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 23, 2025	0.54

Return for Risk

IREX vs. QQQP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IREX

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

QQQP

QQQP Risk / Return Rank: 36
QQQP Sharpe Ratio Rank: 34
QQQP Sortino Ratio Rank: 36
QQQP Omega Ratio Rank: 34
QQQP Calmar Ratio Rank: 37
QQQP Martin Ratio Rank: 38

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IREX vs. QQQP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long IREN Daily ETF (IREX) and Tradr 2X Long Triple Q Quarterly ETF (QQQP). 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.

	IREX	QQQP	Difference
Sharpe ratio: Return per unit of total volatility	—	0.86	—
Sortino ratio: Return per unit of downside risk	—	1.35	—
Omega ratio: Gain probability vs. loss probability	—	1.16	—
Calmar ratio: Return relative to maximum drawdown	—	1.27	—
Martin ratio: Return relative to average drawdown	—	4.02	—

Drawdowns

IREX vs. QQQP - Drawdown Comparison

The maximum IREX drawdown since its inception was -94.59%, which is greater than QQQP's maximum drawdown of -42.50%. Use the drawdown chart below to compare losses from any high point for IREX and QQQP.

Drawdown Indicators

	IREX	QQQP	Difference
Max Drawdown Largest peak-to-trough decline	-94.59%	-42.50%	-52.09%
Max Drawdown (1Y) Largest decline over 1 year	—	-25.35%	—
Current Drawdown Current decline from peak	-91.95%	-15.47%	-76.48%
Average Drawdown Average peak-to-trough decline	-72.44%	-7.46%	-64.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.01%	—

Volatility

Volatility by Period

	IREX	QQQP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	14.67%	—
Volatility (6M) Calculated over the trailing 6-month period	—	30.88%	—
Volatility (1Y) Calculated over the trailing 1-year period	226.65%	37.67%	+188.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	226.65%	44.67%	+181.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	226.65%	44.67%	+181.98%

IREX vs. QQQP - Expense Ratio Comparison

Both IREX and QQQP have an expense ratio of 1.30%.

Dividends

IREX vs. QQQP - Dividend Comparison

Neither IREX nor QQQP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IREX and QQQP in my portfolio?

IREX and QQQP have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IREX or QQQP?

Both ETFs have the same 1.30% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IREX or QQQP?

IREX and QQQP have the same expense ratio: 1.30% per year.

Which ETF pays a higher dividend yield, IREX or QQQP?

IREX and QQQP have nearly identical dividend yields, around 0.00%.