Data as of .
CIR vs CRCA: which held to its multiple?
Over the days both have traded, CIR finished 4.5 points from its stated multiple and CRCA 6.4.
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| CIR | CRCA | CIR | CRCA | CIR | CRCA | |
| 1 month | +49.7% | +47.8% | +54.2% | +54.2% | −4.5 pts | −6.4 pts |
| 3 months | not published | +4.9% | not published | +32.8% | not published | −27.8 pts |
| 6 months | not published | −66.2% | not published | −43.0% | not published | −23.2 pts |
| 1 year | not published | −85.2% | not published | −64.5% | not published | −20.7 pts |
| Since launch | +67.4% | −89.8% | +78.1% | −81.5% | −10.7 pts | −8.3 pts |
| CIR Corgi CRCL 2x Daily ETF Aims to return twice the daily move of CRCL | CRCA ProShares Ultra CRCL Aims to return twice the daily move of CRCL | |
|---|---|---|
| Issuer | Corgi | ProShares |
| Sets out to return | +2x | +2x |
| On | CRCL | CRCL |
| Segment | company | company |
| Fund returned, 3 months | +49.7% | +4.9% |
| Underlying returned, 3 months | +27.1% | +16.4% |
| What the stated multiple implies, 3 months | +54.2% | +32.8% |
| Difference from stated, 3 months | −4.5 pts | −27.8 pts |
| Fund returned, 1 year or since launch | +67.4% | −85.2% |
| Difference from stated, over that window | −10.7 pts | −20.7 pts |
| Underlying volatility | 97% | 89% |
| Difference over the days both have traded | −4.5 pts | −6.4 pts |
| Expense ratio | not published | not published |
| Launched | Jul 7, 2026 | Aug 7, 2025 |
CIR in plain words
One month to Sep 11, 2026: CIR returned +49.7% where its own daily promise gave +50.2%, 0.5 points short. Read the multiple against the whole window instead and +2 times CRCL's 27.1% implies +54.2%, which makes CIR look 4.5 points short. 4.0 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. CIR aims to return +2 times CRCL's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. CRCL moved at 97% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
CRCA in plain words
Three months to Sep 11, 2026: CRCA returned +4.9% where its own daily promise gave +10.8%, 5.9 points short. Read the multiple against the whole window instead and +2 times CRCL's 16.4% implies +32.8%, which makes CRCA look 27.8 points short. 21.9 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. CRCA aims to return +2 times CRCL's move each day, then resets. CRCL moved at 89% annualized over that window.
Questions people ask
- Which came closer to its stated multiple, CIR or CRCA?
- Over the window to Sep 11, 2026, CIR finished 4.5 points from what its multiple implies and CRCA finished 27.8 points from its own, so CIR came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are CIR and CRCA levered on the same thing?
- Yes. Both are levered on CRCL, CIR at +2 times and CRCA at +2 times the daily move.
- Which one decays faster, CIR or CRCA?
- Decay follows how much the underlying moves about. Over this window CIR’s moved at 97% annualized and CRCA’s at 89%, so CIR has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold CIR or CRCA for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, CIR against CRCA, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/CIR-CRCA Free to use with attribution; the underlying files are at Open data.