BTCL vs. TERG

Last updated Apr 1, 2026

Compare and contrast key facts about T-REX 2X Long Bitcoin Daily Target ETF (BTCL) and Leverage Shares 2X Long TER Daily ETF (TERG).

BTCL and TERG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BTCL is an actively managed fund by REX. It was launched on Jul 9, 2024. TERG is an actively managed fund by Leverage Shares. It was launched on Nov 17, 2025.

Performance

BTCL vs. TERG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-REX 2X Long Bitcoin Daily Target ETF (BTCL) and Leverage Shares 2X Long TER Daily ETF (TERG). The values are adjusted to include any dividend payments, if applicable.

BTCL vs. TERG - Yearly Performance Comparison

	2026 (YTD)	2025
BTCL T-REX 2X Long Bitcoin Daily Target ETF	-47.24%	-14.51%
TERG Leverage Shares 2X Long TER Daily ETF	102.79%	28.17%

Returns By Period

In the year-to-date period, BTCL achieves a -47.24% return, which is significantly lower than TERG's 102.79% return.

BTCL

• 1D: 3.83%
• 1M: 3.32%
• YTD: -47.24%
• 6M: -72.39%
• 1Y: -54.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TERG

• 1D: 14.40%
• 1M: -19.76%
• YTD: 102.79%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BTCL vs. TERG - Expense Ratio Comparison

BTCL has a 0.95% expense ratio, which is higher than TERG's 0.75% expense ratio.

BTCL

T-REX 2X Long Bitcoin Daily Target ETF

TERG

Leverage Shares 2X Long TER Daily ETF

Return for Risk

BTCL vs. TERG — Risk / Return Rank

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

BTCL

BTCL Risk / Return Rank: 3
BTCL Sharpe Ratio Rank: 3
BTCL Sortino Ratio Rank: 4
BTCL Omega Ratio Rank: 4
BTCL Calmar Ratio Rank: 2
BTCL Martin Ratio Rank: 2

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.

BTCL vs. TERG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-REX 2X Long Bitcoin Daily Target ETF (BTCL) and Leverage Shares 2X Long TER Daily ETF (TERG). 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.

	BTCL	TERG	Difference
Sharpe ratio Return per unit of total volatility	-0.60	—	—
Sortino ratio Return per unit of downside risk	-0.57	—	—
Omega ratio Gain probability vs. loss probability	0.94	—	—
Calmar ratio Return relative to maximum drawdown	-0.71	—	—
Martin ratio Return relative to average drawdown	-1.37	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	BTCL	TERG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.60	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.22	10.56	-10.78

Correlation

The correlation between BTCL and TERG is 0.42, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

BTCL vs. TERG - Dividend Comparison

BTCL's dividend yield for the trailing twelve months is around 3.21%, while TERG has not paid dividends to shareholders.

	TTM	2025	2024
BTCL T-REX 2X Long Bitcoin Daily Target ETF	3.21%	1.70%	4.35%
TERG Leverage Shares 2X Long TER Daily ETF	0.00%	0.00%	0.00%

Drawdowns

BTCL vs. TERG - Drawdown Comparison

The maximum BTCL drawdown since its inception was -78.41%, which is greater than TERG's maximum drawdown of -39.32%. Use the drawdown chart below to compare losses from any high point for BTCL and TERG.

Drawdown Indicators

	BTCL	TERG	Difference
Max Drawdown Largest peak-to-trough decline	-78.41%	-39.32%	-39.09%
Max Drawdown (1Y) Largest decline over 1 year	-78.41%	—	—
Current Drawdown Current decline from peak	-77.06%	-30.58%	-46.48%
Average Drawdown Average peak-to-trough decline	-30.30%	-9.77%	-20.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	40.75%	—	—

Volatility

Volatility by Period

	BTCL	TERG	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.79%	—	—
Volatility (6M) Calculated over the trailing 6-month period	74.36%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	90.60%	124.59%	-33.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	100.43%	124.59%	-24.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	100.43%	124.59%	-24.16%