IREZ vs. MSDD
IREZ (Tradr 2X Short IREN Daily ETF) and MSDD (GraniteShares 2x Short MSTR Daily ETF) are both Inverse Equities funds. IREZ is passively managed, while MSDD is actively managed. At a 0.39 correlation, their price movements are largely independent. IREZ charges 1.49%/yr vs 1.50%/yr for MSDD.
Performance
IREZ vs. MSDD - Performance Comparison
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Returns By Period
IREZ
- 1D
- 18.18%
- 1M
- 132.38%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSDD
- 1D
- 0.00%
- 1M
- 0.02%
- 6M
- -31.48%
- YTD
- -48.72%
- 1Y
- 179.44%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IREZ vs. MSDD - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
IREZ Tradr 2X Short IREN Daily ETF | -49.61% |
MSDD GraniteShares 2x Short MSTR Daily ETF | -35.89% |
Correlation
The correlation between IREZ and MSDD is 0.39, 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 Jan 22, 2026 | 0.39 |
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Return for Risk
IREZ vs. MSDD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Short IREN Daily ETF (IREZ) and GraniteShares 2x Short MSTR Daily ETF (MSDD). 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.
| IREZ | MSDD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.22 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.92 | — |
| Martin ratioReturn relative to average drawdown | — | 1.81 | — |
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Drawdowns
IREZ vs. MSDD - Drawdown Comparison
The maximum IREZ drawdown since its inception was -87.43%, roughly equal to the maximum MSDD drawdown of -84.91%. Use the drawdown chart below to compare losses from any high point for IREZ and MSDD.
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Drawdown Indicators
| IREZ | MSDD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.43% | -84.91% | -2.52% |
Max Drawdown (1Y)Largest decline over 1 year | — | -84.91% | — |
Current DrawdownCurrent decline from peak | -67.38% | -68.63% | +1.25% |
Average DrawdownAverage peak-to-trough decline | -51.30% | -31.40% | -19.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 43.10% | — |
Volatility
IREZ vs. MSDD - Volatility Comparison
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Volatility by Period
| IREZ | MSDD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 32.11% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 124.37% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 212.31% | 140.94% | +71.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 212.31% | 138.59% | +73.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 212.31% | 138.59% | +73.72% |
IREZ vs. MSDD - Expense Ratio Comparison
IREZ has a 1.49% expense ratio, which is lower than MSDD's 1.50% expense ratio.
Dividends
IREZ vs. MSDD - Dividend Comparison
Neither IREZ nor MSDD has paid dividends to shareholders.
Frequently Asked Questions
IREZ and MSDD have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IREZ is cheaper at 1.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IREZ is cheaper with a 1.49% expense ratio, compared with 1.50% for MSDD.
IREZ and MSDD have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Tradr and GraniteShares. Their fees differ too: 1.49% for IREZ and 1.50% for MSDD.
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