TQQQ vs. IREG
TQQQ (ProShares UltraPro QQQ) and IREG (Leverage Shares 2X Long IREN Daily ETF) are both Leveraged Equities funds. TQQQ is passively managed, while IREG is actively managed. Their 0.57 correlation means they have sometimes moved together and sometimes differently. TQQQ charges 0.95%/yr vs 0.75%/yr for IREG.
Performance
TQQQ vs. IREG - Performance Comparison
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Returns By Period
In the year-to-date period, TQQQ achieves a 29.42% return, which is significantly higher than IREG's -51.43% return.
TQQQ
- 1D
- 5.17%
- 1M
- -7.35%
- 6M
- 23.83%
- YTD
- 29.42%
- 1Y
- 64.98%
- 3Y*
- 50.64%
- 5Y*
- 16.02%
- 10Y*
- 39.51%
- ALL TIME*
- 42.74%
IREG
- 1D
- 14.74%
- 1M
- -13.48%
- 6M
- -72.15%
- YTD
- -51.43%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $8.08M | $7.72M | $9.57M | |
| $4.46B | $4.47B | $5.36B |
TQQQ vs. IREG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TQQQ ProShares UltraPro QQQ | 29.42% | 1.50% |
IREG Leverage Shares 2X Long IREN Daily ETF | -51.43% | 16.86% |
Correlation
The correlation between TQQQ and IREG is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 16, 2025 | 0.57 |
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Return for Risk
TQQQ vs. IREG — Risk / Return Rank
TQQQ
IREG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TQQQ vs. IREG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro QQQ (TQQQ) 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.
| TQQQ | IREG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.21 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.77 | — | — |
| Martin ratioReturn relative to average drawdown | 4.90 | — | — |
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Drawdowns
TQQQ vs. IREG - Drawdown Comparison
The maximum TQQQ drawdown since its inception was -81.66%, smaller than the maximum IREG drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for TQQQ and IREG.
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Drawdown Indicators
| TQQQ | IREG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.66% | -88.63% | +6.97% |
Max Drawdown (1Y)Largest decline over 1 year | -36.97% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -58.04% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -81.66% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -81.66% | — | — |
Current DrawdownCurrent decline from peak | -21.90% | -80.64% | +58.74% |
Average DrawdownAverage peak-to-trough decline | -18.50% | -49.95% | +31.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.31% | — | — |
Volatility
TQQQ vs. IREG - Volatility Comparison
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Volatility by Period
| TQQQ | IREG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.63% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 47.88% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 57.57% | 225.91% | -168.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.10% | 225.91% | -157.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.61% | 225.91% | -159.30% |
TQQQ vs. IREG - Expense Ratio Comparison
TQQQ has a 0.95% expense ratio, which is higher than IREG's 0.75% expense ratio.
Dividends
TQQQ vs. IREG - Dividend Comparison
TQQQ's dividend yield for the trailing twelve months is around 0.56%, 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% |
TQQQ ProShares UltraPro QQQ | 0.56% | 0.65% | 1.27% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% |
Frequently Asked Questions
TQQQ and IREG have a correlation of 0.57, 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 TQQQ.
TQQQ has the higher dividend yield at 0.56%, compared with 0.00% for IREG.
They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for TQQQ and 0.75% for IREG.
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