RXL vs. IREG
RXL (ProShares Ultra Health Care) and IREG (Leverage Shares 2X Long IREN Daily ETF) are both Leveraged Equities funds. RXL is passively managed, while IREG is actively managed. At a 0.08 correlation, their price movements are largely independent. RXL charges 0.95%/yr vs 0.75%/yr for IREG.
Performance
RXL vs. IREG - Performance Comparison
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Returns By Period
In the year-to-date period, RXL achieves a -5.87% return, which is significantly lower than IREG's 56.37% return.
RXL
- 1D
- 6.28%
- 1M
- 8.64%
- YTD
- -5.87%
- 6M
- -4.29%
- 1Y
- 24.14%
- 3Y*
- 5.25%
- 5Y*
- 3.09%
- 10Y*
- 11.97%
IREG
- 1D
- -11.36%
- 1M
- 14.10%
- YTD
- 56.37%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
RXL vs. IREG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
RXL ProShares Ultra Health Care | -5.87% | 1.49% |
IREG Leverage Shares 2X Long IREN Daily ETF | 56.37% | 3.65% |
Correlation
The correlation between RXL and IREG is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 17, 2025 | 0.08 |
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Return for Risk
RXL vs. IREG — Risk / Return Rank
RXL
IREG
RXL vs. IREG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Health Care (RXL) 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.
| RXL | IREG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.15 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.14 | — | — |
| Martin ratioReturn relative to average drawdown | 2.68 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| RXL | IREG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.80 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.10 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.90 | -0.49 |
Drawdowns
RXL vs. IREG - Drawdown Comparison
The maximum RXL drawdown since its inception was -67.70%, smaller than the maximum IREG drawdown of -80.08%. Use the drawdown chart below to compare losses from any high point for RXL and IREG.
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Drawdown Indicators
| RXL | IREG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.70% | -80.08% | +12.38% |
Max Drawdown (1Y)Largest decline over 1 year | -21.33% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -36.08% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -36.08% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -51.00% | — | — |
Current DrawdownCurrent decline from peak | -14.45% | -37.68% | +23.23% |
Average DrawdownAverage peak-to-trough decline | -15.86% | -44.04% | +28.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.05% | — | — |
Volatility
RXL vs. IREG - Volatility Comparison
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Volatility by Period
| RXL | IREG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.34% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 21.51% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 30.16% | 207.94% | -177.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.73% | 207.94% | -178.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.28% | 207.94% | -174.66% |
RXL vs. IREG - Expense Ratio Comparison
RXL has a 0.95% expense ratio, which is higher than IREG's 0.75% expense ratio.
Dividends
RXL vs. IREG - Dividend Comparison
RXL's dividend yield for the trailing twelve months is around 1.54%, while IREG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IREG Leverage Shares 2X Long IREN Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
RXL ProShares Ultra Health Care | 1.54% | 1.43% | 1.22% | 0.18% | 0.32% | 0.10% | 0.15% | 0.27% | 0.32% | 0.11% | 0.12% | 0.93% |
Frequently Asked Questions
RXL and IREG have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
IREG is cheaper with a 0.75% expense ratio, compared with 0.95% for RXL.
RXL has the higher dividend yield at 1.54%, compared with 0.00% for IREG.
They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for RXL and 0.75% for IREG.
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