PONX vs. IREG

Last updated Jul 17, 2026

PONX (Tradr 2X Long PONY Daily ETF) and IREG (Leverage Shares 2X Long IREN Daily ETF) are both Leveraged Equities funds. Both are actively managed. A 0.54 correlation means they provide meaningful diversification when combined. PONX charges 1.30%/yr vs 0.75%/yr for IREG.

Performance

PONX vs. IREG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long PONY Daily ETF (PONX) 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, PONX achieves a -84.07% return, which is significantly lower than IREG's -56.64% return.

PONX

• 1D: -5.09%
• 1M: -26.45%
• 6M: -86.20%
• YTD: -84.07%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IREG

• 1D: -17.70%
• 1M: -68.18%
• 6M: -75.75%
• YTD: -56.64%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PONX vs. IREG - Yearly Performance Comparison

	2026 (YTD)	2025
PONX Tradr 2X Long PONY Daily ETF	-84.07%	11.02%
IREG Leverage Shares 2X Long IREN Daily ETF	-56.64%	16.86%

Correlation

The correlation between PONX and IREG is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 16, 2025	0.54

Return for Risk

PONX vs. IREG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long PONY Daily ETF (PONX) 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.

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.

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

Drawdowns

PONX vs. IREG - Drawdown Comparison

The maximum PONX drawdown since its inception was -95.86%, which is greater than IREG's maximum drawdown of -82.72%. Use the drawdown chart below to compare losses from any high point for PONX and IREG.

Drawdown Indicators

	PONX	IREG	Difference
Max Drawdown Largest peak-to-trough decline	-95.86%	-82.72%	-13.14%
Current Drawdown Current decline from peak	-95.36%	-82.72%	-12.64%
Average Drawdown Average peak-to-trough decline	-68.95%	-47.36%	-21.59%

Volatility

Volatility by Period

	PONX	IREG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	151.88%	208.41%	-56.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	151.88%	208.41%	-56.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	151.88%	208.41%	-56.53%

PONX vs. IREG - Expense Ratio Comparison

PONX has a 1.30% expense ratio, which is higher than IREG's 0.75% expense ratio.

Dividends

PONX vs. IREG - Dividend Comparison

Neither PONX nor IREG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PONX and IREG in my portfolio?

PONX and IREG have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PONX 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, PONX or IREG?

IREG is cheaper with a 0.75% expense ratio, compared with 1.30% for PONX.

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

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

What is the main difference between PONX and IREG?

They also come from different issuers: Tradr and Leverage Shares. Their fees differ too: 1.30% for PONX and 0.75% for IREG.