SKF vs. IREG

Last updated Jun 5, 2026

SKF (ProShares UltraShort Financials) and IREG (Leverage Shares 2X Long IREN Daily ETF) are both Leveraged Equities funds. SKF is passively managed, while IREG is actively managed. At a correlation of -0.13, they often move in opposite directions. SKF charges 0.95%/yr vs 0.75%/yr for IREG.

Performance

SKF vs. IREG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Financials (SKF) 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, SKF achieves a 9.79% return, which is significantly lower than IREG's 56.37% return.

SKF

• 1D: -5.09%
• 1M: -2.11%
• YTD: 9.79%
• 6M: 5.23%
• 1Y: -4.23%
• 3Y*: -25.95%
• 5Y*: -15.99%
• 10Y*: -26.23%

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)

SKF vs. IREG - Yearly Performance Comparison

	2026 (YTD)	2025
SKF ProShares UltraShort Financials	9.79%	-0.76%
IREG Leverage Shares 2X Long IREN Daily ETF	56.37%	3.65%

Correlation

The correlation between SKF and IREG is -0.13, 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 Dec 17, 2025	-0.13

Return for Risk

SKF vs. IREG — Risk / Return Rank

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

SKF

SKF Risk / Return Rank: 8
SKF Sharpe Ratio Rank: 8
SKF Sortino Ratio Rank: 8
SKF Omega Ratio Rank: 8
SKF Calmar Ratio Rank: 7
SKF Martin Ratio Rank: 7

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.

SKF vs. IREG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Financials (SKF) 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.

	SKF	IREG	Difference
Sharpe ratio: Return per unit of total volatility	-0.14	—	—
Sortino ratio: Return per unit of downside risk	-0.00	—	—
Omega ratio: Gain probability vs. loss probability	1.00	—	—
Calmar ratio: Return relative to maximum drawdown	-0.20	—	—
Martin ratio: Return relative to average drawdown	-0.38	—	—
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

	SKF	IREG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.14	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.44	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.64	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.51	0.90	-1.40

Drawdowns

SKF vs. IREG - Drawdown Comparison

The maximum SKF drawdown since its inception was -99.96%, which is greater than IREG's maximum drawdown of -80.08%. Use the drawdown chart below to compare losses from any high point for SKF and IREG.

Drawdown Indicators

	SKF	IREG	Difference
Max Drawdown Largest peak-to-trough decline	-99.96%	-80.08%	-19.88%
Max Drawdown (1Y) Largest decline over 1 year	-20.76%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-68.09%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-72.40%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-96.51%	—	—
Current Drawdown Current decline from peak	-99.95%	-37.68%	-62.27%
Average Drawdown Average peak-to-trough decline	-89.26%	-44.04%	-45.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.17%	—	—

Volatility

Volatility by Period

	SKF	IREG	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.27%	—	—
Volatility (6M) Calculated over the trailing 6-month period	22.43%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	29.30%	207.94%	-178.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.10%	207.94%	-171.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.92%	207.94%	-167.02%

SKF vs. IREG - Expense Ratio Comparison

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

Dividends

SKF vs. IREG - Dividend Comparison

SKF's dividend yield for the trailing twelve months is around 4.31%, while IREG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
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%
SKF ProShares UltraShort Financials	4.31%	5.61%	7.94%	3.93%	0.03%	0.00%	0.11%	1.29%	0.06%

Frequently Asked Questions

Can I hold both SKF and IREG in my portfolio?

SKF and IREG have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SKF 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, SKF or IREG?

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

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

SKF has the higher dividend yield at 4.31%, compared with 0.00% for IREG.

What is the main difference between SKF and IREG?

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