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

Over the window to Sep 30, 2026, CRCA finished 25.6 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 CRCA and CRCD levered on the same thing?

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

Which one decays faster, CRCA or CRCD?

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

Can I hold CRCA 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, CRCA or CRCD?

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

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CRCA vs CRCD: which held to its multiple?

Over three months against its own daily promise, CRCA finished 8.0 points short and CRCD 0.3 points short. ProShares Ultra CRCL and T-REX 2X INVERSE CRCL DAILY TARGET ETF.

+39.7%

CRCA returned, 3 months

−68.2%

CRCD returned, 3 months

−25.6 pts

CRCA from its stated multiple

−2.9 pts

CRCD from its stated multiple

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%

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?

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

CRCA 4.4

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	CRCA	CRCD	CRCA	CRCD	CRCA	CRCD
1 month	−32.5%	+5.1%	−28.0%	+28.0%	−4.5 pts	−22.9 pts
3 months	+39.7%	−68.2%	+65.3%	−65.3%	−25.6 pts	−2.9 pts
6 months	−52.5%	−69.6%	−18.9%	+18.9%	−33.7 pts	−88.5 pts
1 year	−87.8%	−89.7%	−76.0%	+76.0%	−11.7 pts	−165.7 pts
Since launch CRCA Aug 2025 · CRCD Sep 2025	−92.0%	−90.6%	−92.5%	+70.6%	+0.6 pts	−161.2 pts

CRCA 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

CRCA

ProShares Ultra CRCL · 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 ProShares T-REX

Sets out to return +2x -2x

Underlying asset CRCL CRCL

Segment company company

Fund returned, 3 months or since launch +39.7% −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 −25.6 pts −2.9 pts

Fund returned, 1 year or since launch −87.8% −89.7%

Difference from stated, over that window −11.7 pts −165.7 pts

Underlying volatility 85% 85%

Difference over the days both have traded −4.5 pts no shared window

Expense ratio 0.95% 1.50%

Launched Aug 7, 2025 Sep 26, 2025

Net assets $99m $9m

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

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. 17.7 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. 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, CRCA or CRCD?: Over the window to Sep 30, 2026, CRCA finished 25.6 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 CRCA and CRCD levered on the same thing?: Yes. Both are levered on Circle Internet, CRCA at +2 times and CRCD at -2 times the daily move.
Which one decays faster, CRCA or CRCD?: Decay follows how much the underlying moves about. Over this window CRCA’s moved at 85% annualized and CRCD’s at 85%, so CRCA has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold CRCA 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, CRCA or CRCD?: CRCA charges 0.95% a year and CRCD charges 1.50%, so CRCA is cheaper. Fees come from each fund's prospectus.

Other comparisons

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

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

Where these figures came from

CRCA filings on SEC EDGAR ↗CRCA prospectus with the expense ratio (SEC) ↗ProShares page for CRCA ↗CRCD filings on SEC EDGAR ↗CRCD prospectus with the expense ratio (SEC) ↗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, CRCA against CRCD, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/crca-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.