IWFL vs. IREG

Last updated Jun 5, 2026

IWFL (ETRACS 2x Leveraged US Growth Factor TR ETN) and IREG (Leverage Shares 2X Long IREN Daily ETF) are both Leveraged Equities funds. IWFL is passively managed, while IREG is actively managed. At a 0.47 correlation, their price movements are largely independent. IWFL charges 0.95%/yr vs 0.75%/yr for IREG.

Performance

IWFL vs. IREG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS 2x Leveraged US Growth Factor TR ETN (IWFL) and Leverage Shares 2X Long IREN Daily ETF (IREG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWFL achieves a 10.56% return, which is significantly lower than IREG's 56.37% return.

IWFL

• 1D: 0.37%
• 1M: 9.92%
• YTD: 10.56%
• 6M: 8.50%
• 1Y: 43.44%
• 3Y*: 38.72%
• 5Y*: 19.33%
• 10Y*: —

IREG

• 1D: -11.36%
• 1M: 14.10%
• YTD: 56.37%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IWFL vs. IREG - Yearly Performance Comparison

	2026 (YTD)	2025
IWFL ETRACS 2x Leveraged US Growth Factor TR ETN	10.56%	1.15%
IREG Leverage Shares 2X Long IREN Daily ETF	56.37%	3.65%

Correlation

The correlation between IWFL and IREG is 0.47, 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 Dec 17, 2025	0.47

Return for Risk

IWFL vs. IREG — Risk / Return Rank

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

IWFL

IWFL Risk / Return Rank: 34
IWFL Sharpe Ratio Rank: 39
IWFL Sortino Ratio Rank: 36
IWFL Omega Ratio Rank: 37
IWFL Calmar Ratio Rank: 28
IWFL Martin Ratio Rank: 30

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.

IWFL vs. IREG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETRACS 2x Leveraged US Growth Factor TR ETN (IWFL) and Leverage Shares 2X Long IREN Daily ETF (IREG). 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.

	IWFL	IREG	Difference
Sharpe ratio: Return per unit of total volatility	1.36	—	—
Sortino ratio: Return per unit of downside risk	1.84	—	—
Omega ratio: Gain probability vs. loss probability	1.24	—	—
Calmar ratio: Return relative to maximum drawdown	1.33	—	—
Martin ratio: Return relative to average drawdown	4.24	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	IWFL	IREG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.36	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.90	-0.48

Drawdowns

IWFL vs. IREG - Drawdown Comparison

The maximum IWFL drawdown since its inception was -59.29%, smaller than the maximum IREG drawdown of -80.08%. Use the drawdown chart below to compare losses from any high point for IWFL and IREG.

Drawdown Indicators

	IWFL	IREG	Difference
Max Drawdown Largest peak-to-trough decline	-59.29%	-80.08%	+20.79%
Max Drawdown (1Y) Largest decline over 1 year	-32.80%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-46.84%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-59.29%	—	—
Current Drawdown Current decline from peak	-2.55%	-37.68%	+35.13%
Average Drawdown Average peak-to-trough decline	-19.93%	-44.04%	+24.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.28%	—	—

Volatility

Volatility by Period

	IWFL	IREG	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.56%	—	—
Volatility (6M) Calculated over the trailing 6-month period	25.17%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	32.03%	207.94%	-175.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.67%	207.94%	-161.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.27%	207.94%	-161.67%

IWFL vs. IREG - Expense Ratio Comparison

IWFL has a 0.95% expense ratio, which is higher than IREG's 0.75% expense ratio.

Dividends

IWFL vs. IREG - Dividend Comparison

Neither IWFL nor IREG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IWFL and IREG in my portfolio?

IWFL and IREG have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IWFL or IREG?

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.

Which ETF is cheaper, IWFL or IREG?

IREG is cheaper with a 0.75% expense ratio, compared with 0.95% for IWFL.

Which ETF pays a higher dividend yield, IWFL or IREG?

IWFL and IREG have nearly identical dividend yields, around 0.00%.

What is the main difference between IWFL and IREG?

They also come from different issuers: UBS and Leverage Shares. Their fees differ too: 0.95% for IWFL and 0.75% for IREG.