LCDL vs. IREG

Last updated Jun 6, 2026

LCDL (GraniteShares 2x Long LCID Daily ETF) and IREG (Leverage Shares 2X Long IREN Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.41 correlation, their price movements are largely independent. LCDL charges 1.15%/yr vs 0.75%/yr for IREG.

Performance

LCDL vs. IREG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long LCID Daily ETF (LCDL) 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, LCDL achieves a -82.24% return, which is significantly lower than IREG's 18.94% return.

LCDL

• 1D: -18.78%
• 1M: -33.34%
• YTD: -82.24%
• 6M: -89.30%
• 1Y: -97.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IREG

• 1D: -23.93%
• 1M: -29.10%
• YTD: 18.94%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LCDL vs. IREG - Yearly Performance Comparison

	2026 (YTD)	2025
LCDL GraniteShares 2x Long LCID Daily ETF	-82.24%	-17.04%
IREG Leverage Shares 2X Long IREN Daily ETF	18.94%	3.65%

Correlation

The correlation between LCDL and IREG is 0.41, 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	0.41

Return for Risk

LCDL vs. IREG — Risk / Return Rank

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

LCDL

LCDL Risk / Return Rank: 2
LCDL Sharpe Ratio Rank: 4
LCDL Sortino Ratio Rank: 0
LCDL Omega Ratio Rank: 0
LCDL Calmar Ratio Rank: 0
LCDL Martin Ratio Rank: 3

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.

LCDL vs. IREG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long LCID Daily ETF (LCDL) 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.

	LCDL	IREG	Difference
Sharpe ratio: Return per unit of total volatility	-0.64	—	—
Sortino ratio: Return per unit of downside risk	-2.44	—	—
Omega ratio: Gain probability vs. loss probability	0.75	—	—
Calmar ratio: Return relative to maximum drawdown	-0.99	—	—
Martin ratio: Return relative to average drawdown	-1.26	—	—
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

	LCDL	IREG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.64	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.65	0.27	-0.92

Drawdowns

LCDL vs. IREG - Drawdown Comparison

The maximum LCDL drawdown since its inception was -98.50%, which is greater than IREG's maximum drawdown of -80.08%. Use the drawdown chart below to compare losses from any high point for LCDL and IREG.

Drawdown Indicators

	LCDL	IREG	Difference
Max Drawdown Largest peak-to-trough decline	-98.50%	-80.08%	-18.42%
Max Drawdown (1Y) Largest decline over 1 year	-98.45%	—	—
Current Drawdown Current decline from peak	-98.50%	-52.59%	-45.91%
Average Drawdown Average peak-to-trough decline	-69.12%	-44.11%	-25.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	76.86%	—	—

Volatility

Volatility by Period

	LCDL	IREG	Difference
Volatility (1M) Calculated over the trailing 1-month period	41.04%	—	—
Volatility (6M) Calculated over the trailing 6-month period	98.89%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	151.10%	210.32%	-59.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	149.61%	210.32%	-60.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	149.61%	210.32%	-60.71%

LCDL vs. IREG - Expense Ratio Comparison

LCDL has a 1.15% expense ratio, which is higher than IREG's 0.75% expense ratio.

Dividends

LCDL vs. IREG - Dividend Comparison

Neither LCDL nor IREG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both LCDL and IREG in my portfolio?

LCDL and IREG have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LCDL 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, LCDL or IREG?

IREG is cheaper with a 0.75% expense ratio, compared with 1.15% for LCDL.

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

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

What is the main difference between LCDL and IREG?

They also come from different issuers: GraniteShares and Leverage Shares. Their fees differ too: 1.15% for LCDL and 0.75% for IREG.