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

Over the window to Sep 30, 2026, CCUP finished 23.4 points from what its multiple implies and CRCD finished 2.9 points from its own, so CRCD came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are CCUP and CRCD levered on the same thing?

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

Which one decays faster, CCUP or CRCD?

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

Can I hold CCUP or CRCD 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 CRCD?

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

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CCUP vs CRCD: which held to its multiple?

Over three months against its own daily promise, CCUP finished 5.7 points short and CRCD 0.3 points short. T-REX 2X LONG CRCL DAILY TARGET ETF and T-REX 2X INVERSE CRCL DAILY TARGET ETF.

+41.9%

CCUP returned, 3 months

−68.2%

CRCD returned, 3 months

−23.4 pts

CCUP from its stated multiple

−2.9 pts

CRCD 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%

CRCD · 3 months to Sep 30, 20262.9 pts short of its stated multiple

CRCD returned −68.2% while −2 times CRCL's move would have been −65.3%

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

CCUP among the 470 leveraged ETFs, long, over three months

CCUP 10.5

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

CRCD among the 125 inverse ETFs over three months

CRCD 12.4

0.4, the lowest in this set99.6, the highest

A percentile among the 470 leveraged ETFs, long, over three months. CRCD is a percentile among the 125 inverse ETFs over three months, a different set, so the two marks are not on one scale. 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	CRCD	CCUP	CRCD	CCUP	CRCD
1 month	−32.1%	+5.1%	−28.0%	+28.0%	−4.1 pts	−22.9 pts
3 months	+41.9%	−68.2%	+65.3%	−65.3%	−23.4 pts	−2.9 pts
6 months	−50.0%	−69.6%	−18.9%	+18.9%	−31.1 pts	−88.5 pts
1 year	−86.6%	−89.7%	−76.0%	+76.0%	−10.6 pts	−165.7 pts
Since launch CCUP Aug 2025 · CRCD Sep 2025	−91.9%	−90.6%	−98.0%	+70.6%	+6.1 pts	−161.2 pts

CCUP and CRCD 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)

CRCD

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

Issuer T-REX T-REX

Sets out to return +2x -2x

Underlying asset CRCL CRCL

Segment company company

Fund returned, 3 months or since launch +41.9% −68.2%

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 −2.9 pts

Fund returned, 1 year or since launch −86.6% −89.7%

Difference from stated, over that window −10.6 pts −165.7 pts

Underlying volatility 85% 85%

Difference over the days both have traded −4.1 pts no shared window

Expense ratio 1.50% 1.50%

Launched Aug 11, 2025 Sep 26, 2025

Net assets $34m $9m

CCUP and CRCD 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.

CRCD in plain words

Three months to Sep 30, 2026: CRCD returned −68.2% where its own daily promise gave −67.8%, 0.3 points short. Read the multiple against the whole window instead and −2 times CRCL's 32.6% implies −65.3%, which makes CRCD look 2.9 points short. 2.5 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. CRCD aims to return -2 times CRCL's move each day, then resets. 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.

Questions people ask

Which came closer to its stated multiple, CCUP or CRCD?: Over the window to Sep 30, 2026, CCUP finished 23.4 points from what its multiple implies and CRCD finished 2.9 points from its own, so CRCD came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are CCUP and CRCD levered on the same thing?: Yes. Both are levered on Circle Internet, CCUP at +2 times and CRCD at -2 times the daily move.
Which one decays faster, CCUP or CRCD?: Decay follows how much the underlying moves about. Over this window CCUP’s moved at 85% annualized and CRCD’s at 85%, so CCUP has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold CCUP or CRCD 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 CRCD?: CCUP charges 1.50% a year and CRCD charges 1.50%, so CCUP is cheaper. Fees come from each fund's prospectus.

Other comparisons

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

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

Where these figures came from

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

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 CRCD, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/ccup-vs-crcd

Open data

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