BIS vs. CRMG

Last updated Jun 24, 2026

BIS (ProShares UltraShort Nasdaq Biotechnology) and CRMG (Leverage Shares 2X Long CRM Daily ETF) are both Leveraged Equities funds. BIS is passively managed, while CRMG is actively managed. Over the past year, BIS returned -55.93% vs -73.99% for CRMG. At a correlation of -0.11, they often move in opposite directions. BIS charges 0.95%/yr vs 0.75%/yr for CRMG.

Performance

BIS vs. CRMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Nasdaq Biotechnology (BIS) and Leverage Shares 2X Long CRM Daily ETF (CRMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BIS achieves a -17.93% return, which is significantly higher than CRMG's -71.26% return.

BIS

• 1D: -1.74%
• 1M: -10.00%
• YTD: -17.93%
• 6M: -14.94%
• 1Y: -55.93%
• 3Y*: -24.98%
• 5Y*: -14.70%
• 10Y*: -26.06%

CRMG

• 1D: 4.23%
• 1M: -29.64%
• YTD: -71.26%
• 6M: -71.01%
• 1Y: -73.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BIS vs. CRMG - Yearly Performance Comparison

	2026 (YTD)	2025
BIS ProShares UltraShort Nasdaq Biotechnology	-17.93%	-50.35%
CRMG Leverage Shares 2X Long CRM Daily ETF	-71.26%	-0.29%

Correlation

The correlation between BIS and CRMG is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Apr 4, 2025	-0.11

Return for Risk

BIS vs. CRMG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BIS

BIS Risk / Return Rank: 0
BIS Sharpe Ratio Rank: 0
BIS Sortino Ratio Rank: 0
BIS Omega Ratio Rank: 0
BIS Calmar Ratio Rank: 0
BIS Martin Ratio Rank: 2

CRMG

CRMG Risk / Return Rank: 1
CRMG Sharpe Ratio Rank: 1
CRMG Sortino Ratio Rank: 1
CRMG Omega Ratio Rank: 1
CRMG Calmar Ratio Rank: 1
CRMG Martin Ratio Rank: 0

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BIS vs. CRMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Nasdaq Biotechnology (BIS) and Leverage Shares 2X Long CRM Daily ETF (CRMG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	BIS	CRMG	Difference
Sharpe ratio: Return per unit of total volatility	-1.38	-0.97	-0.41
Sortino ratio: Return per unit of downside risk	-2.34	-1.82	-0.52
Omega ratio: Gain probability vs. loss probability	0.75	0.79	-0.04
Calmar ratio: Return relative to maximum drawdown	-1.02	-0.97	-0.05
Martin ratio: Return relative to average drawdown	-1.39	-1.70	+0.32

BIS vs. CRMG - Sharpe Ratio Comparison

The current BIS Sharpe Ratio is -1.38, which is lower than the CRMG Sharpe Ratio of -0.97. The chart below compares the historical Sharpe Ratios of BIS and CRMG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BIS vs. CRMG - Drawdown Comparison

The maximum BIS drawdown since its inception was -99.87%, which is greater than CRMG's maximum drawdown of -79.83%. Use the drawdown chart below to compare losses from any high point for BIS and CRMG.

Drawdown Indicators

	BIS	CRMG	Difference
Max Drawdown Largest peak-to-trough decline	-99.87%	-79.83%	-20.04%
Max Drawdown (1Y) Largest decline over 1 year	-55.07%	-76.80%	+21.73%
Max Drawdown (3Y) Largest decline over 3 years	-67.92%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-75.59%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-95.40%	—	—
Current Drawdown Current decline from peak	-99.87%	-78.97%	-20.90%
Average Drawdown Average peak-to-trough decline	-90.04%	-39.18%	-50.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	41.32%	43.41%	-2.09%

Volatility

BIS vs. CRMG - Volatility Comparison

The current volatility for ProShares UltraShort Nasdaq Biotechnology (BIS) is 13.79%, while Leverage Shares 2X Long CRM Daily ETF (CRMG) has a volatility of 32.53%. This indicates that BIS experiences smaller price fluctuations and is considered to be less risky than CRMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIS	CRMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.79%	32.53%	-18.74%
Volatility (6M) Calculated over the trailing 6-month period	32.10%	63.74%	-31.64%
Volatility (1Y) Calculated over the trailing 1-year period	40.51%	76.12%	-35.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.80%	75.39%	-31.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.26%	75.39%	-29.13%

BIS vs. CRMG - Expense Ratio Comparison

BIS has a 0.95% expense ratio, which is higher than CRMG's 0.75% expense ratio.

Dividends

BIS vs. CRMG - Dividend Comparison

BIS's dividend yield for the trailing twelve months is around 5.61%, while CRMG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BIS ProShares UltraShort Nasdaq Biotechnology	5.61%	5.25%	3.73%	1.75%	0.00%	0.00%	0.45%	2.11%	0.37%
CRMG Leverage Shares 2X Long CRM Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BIS and CRMG in my portfolio?

BIS and CRMG have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BIS or CRMG?

CRMG has higher volatility (32.53%) compared to BIS (13.79%). In terms of maximum drawdown, BIS dropped -99.87% vs CRMG's -79.83%.

Which ETF is better, BIS or CRMG?

On 1-year performance, BIS leads with -55.93% vs -73.99% for CRMG. On fees, CRMG is cheaper at 0.75% per year. On volatility, BIS has been the lower-risk option at 13.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BIS or CRMG?

Over the 1-year period, BIS has performed better with a -55.93% return vs -73.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BIS or CRMG?

CRMG is cheaper with a 0.75% expense ratio, compared with 0.95% for BIS.

Which ETF pays a higher dividend yield, BIS or CRMG?

BIS has the higher dividend yield at 5.61%, compared with 0.00% for CRMG.

What is the main difference between BIS and CRMG?

They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for BIS and 0.75% for CRMG.

Which has better risk-adjusted returns?

CRMG currently has the higher Sharpe Ratio (-0.97 vs -1.38), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.