UCYB vs. IREG
UCYB (ProShares Ultra Nasdaq Cybersecurity) and IREG (Leverage Shares 2X Long IREN Daily ETF) are both Leveraged Equities funds. UCYB is passively managed, while IREG is actively managed. At a 0.13 correlation, their price movements are largely independent. UCYB charges 0.97%/yr vs 0.75%/yr for IREG.
Performance
UCYB vs. IREG - Performance Comparison
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Returns By Period
In the year-to-date period, UCYB achieves a 51.10% return, which is significantly lower than IREG's 56.37% return.
UCYB
- 1D
- -1.99%
- 1M
- 61.03%
- YTD
- 51.10%
- 6M
- 38.20%
- 1Y
- 37.94%
- 3Y*
- 43.47%
- 5Y*
- 18.13%
- 10Y*
- —
IREG
- 1D
- -11.36%
- 1M
- 14.10%
- YTD
- 56.37%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UCYB vs. IREG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
UCYB ProShares Ultra Nasdaq Cybersecurity | 51.10% | -3.13% |
IREG Leverage Shares 2X Long IREN Daily ETF | 56.37% | 3.65% |
Correlation
The correlation between UCYB and IREG is 0.13, 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 | 0.13 |
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Return for Risk
UCYB vs. IREG — Risk / Return Rank
UCYB
IREG
UCYB vs. IREG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Nasdaq Cybersecurity (UCYB) 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.
| UCYB | IREG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.17 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.89 | — | — |
| Martin ratioReturn relative to average drawdown | 1.97 | — | — |
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
| UCYB | IREG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.77 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 0.90 | -0.60 |
Drawdowns
UCYB vs. IREG - Drawdown Comparison
The maximum UCYB drawdown since its inception was -62.69%, smaller than the maximum IREG drawdown of -80.08%. Use the drawdown chart below to compare losses from any high point for UCYB and IREG.
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Drawdown Indicators
| UCYB | IREG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.69% | -80.08% | +17.39% |
Max Drawdown (1Y)Largest decline over 1 year | -43.04% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -43.04% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -62.69% | — | — |
Current DrawdownCurrent decline from peak | -8.02% | -37.68% | +29.66% |
Average DrawdownAverage peak-to-trough decline | -27.47% | -44.04% | +16.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.33% | — | — |
Volatility
UCYB vs. IREG - Volatility Comparison
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Volatility by Period
| UCYB | IREG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.45% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 42.18% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 49.53% | 207.94% | -158.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.95% | 207.94% | -157.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.63% | 207.94% | -158.31% |
UCYB vs. IREG - Expense Ratio Comparison
UCYB has a 0.97% expense ratio, which is higher than IREG's 0.75% expense ratio.
Dividends
UCYB vs. IREG - Dividend Comparison
UCYB's dividend yield for the trailing twelve months is around 1.43%, while IREG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
IREG Leverage Shares 2X Long IREN Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UCYB ProShares Ultra Nasdaq Cybersecurity | 1.43% | 1.90% | 2.16% | 0.56% | 0.00% | 0.91% |
Frequently Asked Questions
UCYB 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.
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 0.97% for UCYB.
UCYB has the higher dividend yield at 1.43%, compared with 0.00% for IREG.
They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.97% for UCYB and 0.75% for IREG.
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