{
 "ticker": "CRCD",
 "name": "T-REX 2X INVERSE CRCL DAILY TARGET ETF",
 "issuer": "T-REX",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/CRCD",
 "html": "https://etfiq.com/funds/CRCD",
 "markdown": "https://etfiq.com/funds/CRCD.md",
 "as_of": "2026-09-11",
 "verdict": "Three months to Sep 11, 2026: CRCD returned \u221260.0% where its own daily promise gave \u221259.5%, 0.5 points short.",
 "key_facts": [
  {
   "key": "what_crcl_did",
   "label": "What CRCL did",
   "value": "+16.4%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "CRCD, what CRCL did: +16.4%, as of Sep 11, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What \u22122 times a day gives",
   "value": "\u221259.5%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "CRCD, what \u22122 times a day gives: \u221259.5%, as of Sep 11, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221260.0%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "CRCD, what the fund returned: \u221260.0%, as of Sep 11, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22120.5 pts",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "CRCD, the fund itself cost: \u22120.5 pts, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$9m",
   "source": "source, as filed for Jun 30, 2026",
   "as_of": "2026-09-11",
   "sentence": "CRCD, net assets: $9m (source, as filed for Jun 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.50%",
   "source": "485BPOS XBRL, Apr 30, 2026",
   "as_of": "2026-09-11",
   "sentence": "CRCD, expense ratio: 1.50% (485BPOS XBRL, Apr 30, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "-2 times the daily move of CRCL, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "-3.66 times, against -2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "CRCL",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$9m",
   "source": "source, as filed for Jun 30, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.50%",
   "source": "485BPOS XBRL, Apr 30, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Sep 26, 2025",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "89% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u221252.7%",
   "CRCL": "+27.1%",
   "-2x the move": "\u221254.2%",
   "Difference": "+1.5 pts",
   "CRCL moved about": "97%"
  },
  {
   "window": "3 months",
   "Fund": "\u221260.0%",
   "CRCL": "+16.4%",
   "-2x the move": "\u221232.8%",
   "Difference": "\u221227.2 pts",
   "CRCL moved about": "89%"
  },
  {
   "window": "6 months",
   "Fund": "\u221262.7%",
   "CRCL": "\u221221.5%",
   "-2x the move": "+43.0%",
   "Difference": "\u2212105.6 pts",
   "CRCL moved about": "97%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221291.3%",
   "CRCL": "\u221228.7%",
   "-2x the move": "+57.3%",
   "Difference": "\u2212148.6 pts",
   "CRCL moved about": "98%"
  }
 ],
 "questions": [
  {
   "q": "Did CRCD return -2 times CRCL?",
   "a": "Over the window to Sep 11, 2026, CRCL moved +16.4% and CRCD returned \u221260.0%. 2 times that move is \u221232.8%, so the fund came out 27.2 points short of it."
  },
  {
   "q": "Why does CRCD not return -2 times over a year?",
   "a": "Because it resets daily. CRCD aims at -2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}