IREZ vs. SVIX

Last updated Jun 26, 2026

IREZ (Tradr 2X Short IREN Daily ETF) and SVIX (-1x Short VIX Futures ETF) are both exchange-traded funds - IREZ is a Inverse Equities fund tracking the IREN Limited (IREN), while SVIX is a Volatility fund tracking the Short VIX Futures Index. Both are passively managed. At a correlation of -0.42, they often move in opposite directions. IREZ charges 1.49%/yr vs 1.47%/yr for SVIX.

Performance

IREZ vs. SVIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Short IREN Daily ETF (IREZ) and -1x Short VIX Futures ETF (SVIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IREZ

• 1D: 10.21%
• 1M: 20.36%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SVIX

• 1D: 2.03%
• 1M: 6.99%
• YTD: -6.56%
• 6M: -4.99%
• 1Y: 47.49%
• 3Y*: -5.10%
• 5Y*: —
• 10Y*: —

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

IREZ vs. SVIX - Yearly Performance Comparison

	2026 (YTD)
IREZ Tradr 2X Short IREN Daily ETF	-68.01%
SVIX -1x Short VIX Futures ETF	-3.00%

Correlation

The correlation between IREZ and SVIX is -0.42, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 22, 2026	-0.42

Return for Risk

IREZ vs. SVIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IREZ

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

SVIX

SVIX Risk / Return Rank: 27
SVIX Sharpe Ratio Rank: 26
SVIX Sortino Ratio Rank: 27
SVIX Omega Ratio Rank: 31
SVIX Calmar Ratio Rank: 25
SVIX Martin Ratio Rank: 26

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IREZ vs. SVIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Short IREN Daily ETF (IREZ) and -1x Short VIX Futures ETF (SVIX). 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	SVIX	Difference
Sharpe ratio: Return per unit of total volatility	—	0.87	—
Sortino ratio: Return per unit of downside risk	—	1.38	—
Omega ratio: Gain probability vs. loss probability	—	1.19	—
Calmar ratio: Return relative to maximum drawdown	—	1.12	—
Martin ratio: Return relative to average drawdown	—	3.18	—

Drawdowns

IREZ vs. SVIX - Drawdown Comparison

The maximum IREZ drawdown since its inception was -87.43%, which is greater than SVIX's maximum drawdown of -79.30%. Use the drawdown chart below to compare losses from any high point for IREZ and SVIX.

Drawdown Indicators

	IREZ	SVIX	Difference
Max Drawdown Largest peak-to-trough decline	-87.43%	-79.30%	-8.13%
Max Drawdown (1Y) Largest decline over 1 year	—	-42.69%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-79.30%	—
Current Drawdown Current decline from peak	-79.29%	-55.37%	-23.92%
Average Drawdown Average peak-to-trough decline	-48.23%	-31.91%	-16.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	14.96%	—

Volatility

Volatility by Period

	IREZ	SVIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	16.55%	—
Volatility (6M) Calculated over the trailing 6-month period	—	43.22%	—
Volatility (1Y) Calculated over the trailing 1-year period	213.32%	55.03%	+158.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	213.32%	66.20%	+147.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	213.32%	66.20%	+147.12%

IREZ vs. SVIX - Expense Ratio Comparison

IREZ has a 1.49% expense ratio, which is higher than SVIX's 1.47% expense ratio.

Dividends

IREZ vs. SVIX - Dividend Comparison

Neither IREZ nor SVIX has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IREZ and SVIX in my portfolio?

IREZ and SVIX have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IREZ or SVIX?

On fees, SVIX is cheaper at 1.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IREZ or SVIX?

SVIX is cheaper with a 1.47% expense ratio, compared with 1.49% for IREZ.

Which ETF pays a higher dividend yield, IREZ or SVIX?

IREZ and SVIX have nearly identical dividend yields, around 0.00%.

What is the main difference between IREZ and SVIX?

IREZ is categorized as Inverse Equities, while SVIX is Volatility. IREZ tracks IREN Limited (IREN), while SVIX tracks Short VIX Futures Index. They also come from different issuers: Tradr and Volatility Shares. Their fees differ too: 1.49% for IREZ and 1.47% for SVIX.