Which came closer to its stated multiple, CCUP or CRCA?

Over the window to Sep 30, 2026, CCUP finished 23.4 points from what its multiple implies and CRCA finished 25.6 points from its own, so CCUP came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are CCUP and CRCA levered on the same thing?

Yes. Both are levered on Circle Internet, CCUP at +2 times and CRCA at +2 times the daily move.

Which one decays faster, CCUP or CRCA?

Decay follows how much the underlying moves about. Over this window CCUP’s moved at 85% annualized and CRCA’s at 85%, so CCUP has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold CCUP 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.

Which is cheaper, CCUP or CRCA?

CCUP charges 1.50% a year and CRCA charges 0.95%, so CRCA is cheaper. Fees come from each fund's prospectus.

Share on X Download as PDF Open live

CCUP vs CRCA: which held to its multiple?

Over the days both have traded, CCUP finished 4.1 points from its stated multiple and CRCA 4.5. T-REX 2X LONG CRCL DAILY TARGET ETF and ProShares Ultra CRCL.

+41.9%

CCUP returned, 3 months

+39.7%

CRCA returned, 3 months

−23.4 pts

CCUP from its stated multiple

−25.6 pts

CRCA from its stated multiple

CCUP · 3 months to Sep 30, 202623.4 pts short of its stated multiple

CCUP returned +41.9% while 2 times CRCL's move would have been +65.3%

CRCA · 3 months to Sep 30, 202625.6 pts short of its stated multiple

CRCA returned +39.7% while 2 times CRCL's move would have been +65.3%

ETFIQ Decay Resistance Score · CCUP scores higherDid it keep up with its own daily multiple, compounded day by day?

CCUP 10.5

CRCA 4.4

0.1, the lowest in this set99.9, the highest

A percentile among the 470 leveraged ETFs, long, over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it → How it is computed →

Performance, window by window

	Total return		Multiple would give		Difference
Window	CCUP	CRCA	CCUP	CRCA	CCUP	CRCA
1 month	−32.1%	−32.5%	−28.0%	−28.0%	−4.1 pts	−4.5 pts
3 months	+41.9%	+39.7%	+65.3%	+65.3%	−23.4 pts	−25.6 pts
6 months	−50.0%	−52.5%	−18.9%	−18.9%	−31.1 pts	−33.7 pts
1 year	−86.6%	−87.8%	−76.0%	−76.0%	−10.6 pts	−11.7 pts
Since launch CCUP Aug 2025 · CRCA Aug 2025	−91.9%	−92.0%	−98.0%	−92.5%	+6.1 pts	+0.6 pts

CCUP and CRCA over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

CCUP

T-REX 2X LONG CRCL DAILY TARGET ETF · Aims to return twice the daily move of Circle Internet (CRCL)

CRCA

ProShares Ultra CRCL · Aims to return twice the daily move of Circle Internet (CRCL)

Issuer T-REX ProShares

Sets out to return +2x +2x

Underlying asset CRCL CRCL

Segment company company

Fund returned, 3 months or since launch +41.9% +39.7%

Underlying returned, over that window +32.6% +32.6%

What the stated multiple implies, over that window +65.3% +65.3%

Difference from stated, over that window −23.4 pts −25.6 pts

Fund returned, 1 year or since launch −86.6% −87.8%

Difference from stated, over that window −10.6 pts −11.7 pts

Underlying volatility 85% 85%

Difference over the days both have traded −4.1 pts −4.5 pts

Expense ratio 1.50% 0.95%

Launched Aug 11, 2025 Aug 7, 2025

Net assets $34m $99m

CCUP and CRCA on the same fields, as of Sep 30, 2026. Source: ETFIQ.

CCUP in plain words

Three months to Sep 30, 2026: CCUP returned +41.9% where its own daily promise gave +47.6%, 5.7 points short. Read the multiple against the whole window instead and 2 times CRCL's 32.6% implies +65.3%, which makes CCUP look 23.4 points short. 17.7 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. CCUP 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 85% 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 30, 2026: CRCA returned +39.7% where its own daily promise gave +47.6%, 8.0 points short. Read the multiple against the whole window instead and 2 times CRCL's 32.6% implies +65.3%, which makes CRCA look 25.6 points short. CRCA aims to return +2 times CRCL's move each day, then resets.

Questions people ask

Which came closer to its stated multiple, CCUP or CRCA?: Over the window to Sep 30, 2026, CCUP finished 23.4 points from what its multiple implies and CRCA finished 25.6 points from its own, so CCUP came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are CCUP and CRCA levered on the same thing?: Yes. Both are levered on Circle Internet, CCUP at +2 times and CRCA at +2 times the daily move.
Which one decays faster, CCUP or CRCA?: Decay follows how much the underlying moves about. Over this window CCUP’s moved at 85% annualized and CRCA’s at 85%, so CCUP has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold CCUP 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.
Which is cheaper, CCUP or CRCA?: CCUP charges 1.50% a year and CRCA charges 0.95%, so CRCA is cheaper. Fees come from each fund's prospectus.

Other comparisons

CCUP vs CIR CCUP vs CRCD CCUP vs CRCG CRCA vs CRCD CRCA vs CRCG CRCA vs CIR

CCUP on its own →CRCA on its own →How every figure is computed →Standards and sources →

Where these figures came from

CCUP filings on SEC EDGAR ↗CCUP prospectus with the expense ratio (SEC) ↗T-REX page for CCUP ↗CRCA filings on SEC EDGAR ↗CRCA prospectus with the expense ratio (SEC) ↗ProShares page for CRCA ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, CCUP against CRCA, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/ccup-vs-crca

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.