# CRCD (T-REX 2X INVERSE CRCL DAILY TARGET ETF)

T-REX · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: CRCD returned −60.0% where its own daily promise gave −59.5%, 0.5 points short.

## Key facts

- CRCD, what CRCL did: +16.4%, as of Sep 11, 2026.
- CRCD, what −2 times a day gives: −59.5%, as of Sep 11, 2026.
- CRCD, what the fund returned: −60.0%, as of Sep 11, 2026.
- CRCD, the fund itself cost: −0.5 pts, as of Sep 11, 2026.
- CRCD, net assets: $9m (source, as filed for Jun 30, 2026).
- CRCD, expense ratio: 1.50% (485BPOS XBRL, Apr 30, 2026).

## CRCD over each window to Sep 11, 2026

| Window | Fund | CRCL | -2x the move | Difference | CRCL moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −52.7% | +27.1% | −54.2% | +1.5 pts | 97% |
| 3 months | −60.0% | +16.4% | −32.8% | −27.2 pts | 89% |
| 6 months | −62.7% | −21.5% | +43.0% | −105.6 pts | 97% |
| Since launch | −91.3% | −28.7% | +57.3% | −148.6 pts | 98% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -2 times the daily move of CRCL, reset daily | ETFIQ |
| Multiple a holder actually got over the window | -3.66 times, against -2 stated | ETFIQ |
| Underlying | CRCL | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $9m | source, as filed for Jun 30, 2026 |
| Expense ratio | 1.50% | 485BPOS XBRL, Apr 30, 2026 |
| Launched | Sep 26, 2025 | ETFIQ |
| Underlying volatility over the window | 89% annualized | ETFIQ |

## Questions

### Did CRCD return -2 times CRCL?

Over the window to Sep 11, 2026, CRCL moved +16.4% and CRCD returned −60.0%. 2 times that move is −32.8%, so the fund came out 27.2 points short of it.

### Why does CRCD not return -2 times over a year?

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.


## Cite this page

ETFIQ, CRCD, data as of Sep 11, 2026. https://etfiq.com/funds/CRCD
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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