CARD vs. CRCD

Last updated Aug 2, 2026

CARD (Max Auto Industry -3X Inverse Leveraged ETN) and CRCD (T-REX 2X Inverse CRCL Daily Target ETF) are both Inverse Equities funds. CARD is passively managed, while CRCD is actively managed. Their 0.33 correlation means their historical movements had little consistent relationship. CARD charges 0.95%/yr vs 1.50%/yr for CRCD.

Performance

CARD vs. CRCD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Max Auto Industry -3X Inverse Leveraged ETN (CARD) and T-REX 2X Inverse CRCL Daily Target ETF (CRCD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CARD achieves a -8.92% return, which is significantly higher than CRCD's -82.71% return.

CARD

• 1D: 3.59%
• 1M: 1.66%
• 6M: -6.13%
• YTD: -8.92%
• 1Y: -38.90%
• 3Y*: -47.16%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -52.24%

CRCD

• 1D: 4.76%
• 1M: -8.47%
• 6M: -87.34%
• YTD: -82.71%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CARD Max Auto Industry -3X Inverse Leveraged ETN	$47.33K	$47.63K	$45.90K
CRCD T-REX 2X Inverse CRCL Daily Target ETF	$6.16M	$8.34M	$16.64M

CARD vs. CRCD - Yearly Performance Comparison

	2026 (YTD)	2025
CARD Max Auto Industry -3X Inverse Leveraged ETN	-8.92%	-7.24%
CRCD T-REX 2X Inverse CRCL Daily Target ETF	-82.71%	38.83%

Correlation

The correlation between CARD and CRCD is 0.33, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 26, 2025	0.33

Return for Risk

CARD vs. CRCD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CARD

CARD Risk / Return Rank: 5
CARD Sharpe Ratio Rank: 5
CARD Sortino Ratio Rank: 6
CARD Omega Ratio Rank: 6
CARD Calmar Ratio Rank: 2
CARD Martin Ratio Rank: 3

CRCD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CARD vs. CRCD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Max Auto Industry -3X Inverse Leveraged ETN (CARD) and T-REX 2X Inverse CRCL Daily Target ETF (CRCD). 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.

	CARD	CRCD	Difference
Sharpe ratio: Return per unit of total volatility	-0.50	—	—
Sortino ratio: Return per unit of downside risk	-0.36	—	—
Omega ratio: Gain probability vs. loss probability	0.96	—	—
Calmar ratio: Return relative to maximum drawdown	-0.81	—	—
Martin ratio: Return relative to average drawdown	-1.23	—	—

Drawdowns

CARD vs. CRCD - Drawdown Comparison

The maximum CARD drawdown since its inception was -93.74%, roughly equal to the maximum CRCD drawdown of -96.95%. Use the drawdown chart below to compare losses from any high point for CARD and CRCD.

Drawdown Indicators

	CARD	CRCD	Difference
Max Drawdown Largest peak-to-trough decline	-93.74%	-96.95%	+3.21%
Max Drawdown (1Y) Largest decline over 1 year	-44.14%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-93.74%	—	—
Current Drawdown Current decline from peak	-93.16%	-91.80%	-1.36%
Average Drawdown Average peak-to-trough decline	-69.56%	-61.66%	-7.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.16%	—	—

Volatility

Volatility by Period

	CARD	CRCD	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.32%	—	—
Volatility (6M) Calculated over the trailing 6-month period	54.55%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	72.06%	198.91%	-126.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.51%	198.91%	-118.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.51%	198.91%	-118.40%

CARD vs. CRCD - Expense Ratio Comparison

CARD has a 0.95% expense ratio, which is lower than CRCD's 1.50% expense ratio.

Dividends

CARD vs. CRCD - Dividend Comparison

Neither CARD nor CRCD has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CARD and CRCD in my portfolio?

CARD and CRCD have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CARD or CRCD?

On fees, CARD is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CARD or CRCD?

CARD is cheaper with a 0.95% expense ratio, compared with 1.50% for CRCD.

Which ETF pays a higher dividend yield, CARD or CRCD?

CARD and CRCD have nearly identical dividend yields, around 0.00%.

What is the main difference between CARD and CRCD?

They also come from different issuers: Max and T-Rex. Their fees differ too: 0.95% for CARD and 1.50% for CRCD.