IREZ vs. UPSX
IREZ (Tradr 2X Short IREN Daily ETF) and UPSX (Tradr 2X Long UPST Daily ETF) are both exchange-traded funds - IREZ is a Inverse Equities fund tracking the IREN Limited (IREN), while UPSX is a Leveraged Equities fund actively managed by Tradr. IREZ is passively managed, while UPSX is actively managed. At a correlation of -0.28, they often move in opposite directions. IREZ charges 1.49%/yr vs 1.30%/yr for UPSX.
Performance
IREZ vs. UPSX - Performance Comparison
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Returns By Period
IREZ
- 1D
- 10.21%
- 1M
- 20.36%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UPSX
- 1D
- 2.52%
- 1M
- 9.80%
- YTD
- -59.70%
- 6M
- -67.07%
- 1Y
- -86.05%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IREZ vs. UPSX - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
IREZ Tradr 2X Short IREN Daily ETF | -68.01% |
UPSX Tradr 2X Long UPST Daily ETF | -62.39% |
Correlation
The correlation between IREZ and UPSX is -0.28, 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 | -0.28 |
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Return for Risk
IREZ vs. UPSX — Risk / Return Rank
IREZ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
UPSX
IREZ vs. UPSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Short IREN Daily ETF (IREZ) and Tradr 2X Long UPST Daily ETF (UPSX). 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 | UPSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.89 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.91 | — |
| Martin ratioReturn relative to average drawdown | — | -1.14 | — |
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Drawdowns
IREZ vs. UPSX - Drawdown Comparison
The maximum IREZ drawdown since its inception was -87.43%, smaller than the maximum UPSX drawdown of -95.01%. Use the drawdown chart below to compare losses from any high point for IREZ and UPSX.
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Drawdown Indicators
| IREZ | UPSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.43% | -95.01% | +7.58% |
Max Drawdown (1Y)Largest decline over 1 year | — | -95.01% | — |
Current DrawdownCurrent decline from peak | -79.29% | -92.06% | +12.77% |
Average DrawdownAverage peak-to-trough decline | -48.23% | -67.31% | +19.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 75.40% | — |
Volatility
IREZ vs. UPSX - Volatility Comparison
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Volatility by Period
| IREZ | UPSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 41.86% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 102.28% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 213.32% | 139.08% | +74.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 213.32% | 140.76% | +72.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 213.32% | 140.76% | +72.56% |
IREZ vs. UPSX - Expense Ratio Comparison
IREZ has a 1.49% expense ratio, which is higher than UPSX's 1.30% expense ratio.
Dividends
IREZ vs. UPSX - Dividend Comparison
Neither IREZ nor UPSX has paid dividends to shareholders.
Frequently Asked Questions
IREZ and UPSX have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UPSX is cheaper at 1.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UPSX is cheaper with a 1.30% expense ratio, compared with 1.49% for IREZ.
IREZ and UPSX have nearly identical dividend yields, around 0.00%.
IREZ is categorized as Inverse Equities, while UPSX is Leveraged Equities. Their fees differ too: 1.49% for IREZ and 1.30% for UPSX.
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