- Issuer
- Max
- Inception Date
- Jun 27, 2023
- Region
- North America (U.S.)
- Category
- Leveraged Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- Prime Auto Industry Index - Benchmark TR Net (--300%)
- Distribution Policy
- Accumulating
- Asset Class
- Equity
- Assets Under Management
- $5M
Share Price Chart
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Performance
CARU Performance Chart
Max Auto Industry 3X Leveraged ETN (CARU) is down 30.4% since the beginning of the year. CARU is currently trading at $22 per share.
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Returns By Period
Max Auto Industry 3X Leveraged ETN (CARU) has returned -30.42% so far this year and -16.88% over the past 12 months.
Max Auto Industry 3X Leveraged ETN
- 1D
- -5.08%
- 1M
- -6.67%
- YTD
- -30.42%
- 6M
- -38.19%
- 1Y
- -16.88%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
CARU Monthly Returns History
Based on dividend-adjusted daily data since Jun 28, 2023, CARU's average daily return is +0.10%, while the average monthly return is +1.38%. At this rate, an investment would double in approximately 4.2 years.
Historically, 51% of months were positive and 49% were negative. The best month was Dec 2023 with a return of +45.8%, while the worst month was Oct 2023 at -49.1%. The longest winning streak lasted 3 consecutive months, and the longest losing streak was 3 months.
On a daily basis, CARU closed higher 53% of trading days. The best single day was Apr 9, 2025 with a return of +36.5%, while the worst single day was Apr 3, 2025 at -15.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -1.59% | -12.98% | -22.29% | 20.39% | 4.01% | -16.51% | -30.42% | ||||||
| 2025 | 5.69% | -20.06% | -11.82% | -2.16% | 32.05% | -3.52% | 3.35% | 13.96% | 13.01% | -20.46% | 8.23% | 0.82% | 7.29% |
| 2024 | -26.46% | 21.63% | 9.82% | -23.38% | 5.41% | 14.77% | 17.09% | -0.70% | -8.43% | -4.11% | 37.21% | -3.22% | 23.44% |
| 2023 | 11.13% | 20.31% | -13.82% | -9.79% | -49.05% | 16.93% | 45.75% | -9.74% |
Benchmark Metrics
Max Auto Industry 3X Leveraged ETN has an annualized alpha of -38.38%, beta of 3.87, and R2 of 0.52 versus S&P 500 Index. Calculated based on daily prices since June 28, 2023.
- This ETF participated in 335.45% of S&P 500 Index downside but only 324.64% of its upside - more exposed to losses than it benefited from rallies.
- This ETF had an annualized alpha of -38.38% versus S&P 500 Index - delivering less than market exposure alone would predict.
- Beta of 3.87 means this ETF moves significantly more than S&P 500 Index - expect amplified gains in rallies and amplified losses in downturns.
- Alpha
- -38.38%
- Beta
- 3.87
- R²
- 0.52
- Upside Capture
- 324.64%
- Downside Capture
- 335.45%
Expense Ratio
CARU has a high expense ratio of 0.95%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
CARU ranks 7 for risk / return — in the bottom 7% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Max Auto Industry 3X Leveraged ETN (CARU) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CARU | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.27 | ||
| Sortino ratioReturn per unit of downside risk | -2.63 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.37 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.33 | 2.78 | -3.12 |
| Martin ratioReturn relative to average drawdown | -0.67 | 12.44 | -13.11 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Max Auto Industry 3X Leveraged ETN. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Max Auto Industry 3X Leveraged ETN was 66.44%, occurring on Oct 30, 2023. The portfolio has not yet recovered.
The current Max Auto Industry 3X Leveraged ETN drawdown is 45.06%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2023 bear market2023 | -66.44%Oct 2023 | 3mo 12d | — | 2y 11moJul 2023 - now |
2023 pullback2023 | -6.67%Jul 2023 | 4d | 2d | 6dJul 2023 - Jul 2023 |
2023 pullback2023 | -2.43%Jul 2023 | 0s | 1d | 1dJul 2023 - Jul 2023 |
Drawdown Indicators
| CARU | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.44% | -56.78% | -9.66% |
Max Drawdown (1Y)Largest decline over 1 year | -50.87% | -9.10% | -41.77% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -45.06% | -1.80% | -43.26% |
Average DrawdownAverage peak-to-trough decline | -35.95% | -10.71% | -25.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.34% | 2.03% | +23.31% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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