CARU vs. HOOG

Last updated Jun 4, 2026

CARU (Max Auto Industry 3X Leveraged ETN) and HOOG (Leverage Shares 2X Long HOOD Daily ETF) are both Leveraged Equities funds. CARU is passively managed, while HOOG is actively managed. Over the past year, CARU returned -15.14% vs -29.31% for HOOG. At a 0.49 correlation, their price movements are largely independent. CARU charges 0.95%/yr vs 0.75%/yr for HOOG.

Performance

CARU vs. HOOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Max Auto Industry 3X Leveraged ETN (CARU) and Leverage Shares 2X Long HOOD Daily ETF (HOOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CARU achieves a -23.03% return, which is significantly higher than HOOG's -60.40% return.

CARU

• 1D: -1.30%
• 1M: 8.25%
• YTD: -23.03%
• 6M: -25.68%
• 1Y: -15.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HOOG

• 1D: -12.13%
• 1M: 10.59%
• YTD: -60.40%
• 6M: -72.73%
• 1Y: -29.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CARU vs. HOOG - Yearly Performance Comparison

	2026 (YTD)	2025
CARU Max Auto Industry 3X Leveraged ETN	-23.03%	51.67%
HOOG Leverage Shares 2X Long HOOD Daily ETF	-60.40%	291.44%

Correlation

The correlation between CARU and HOOG is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (All Time) Calculated using the full available price history since Mar 24, 2025	0.49

Return for Risk

CARU vs. HOOG — Risk / Return Rank

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

CARU

CARU Risk / Return Rank: 7
CARU Sharpe Ratio Rank: 7
CARU Sortino Ratio Rank: 9
CARU Omega Ratio Rank: 9
CARU Calmar Ratio Rank: 6
CARU Martin Ratio Rank: 6

HOOG

HOOG Risk / Return Rank: 9
HOOG Sharpe Ratio Rank: 6
HOOG Sortino Ratio Rank: 14
HOOG Omega Ratio Rank: 13
HOOG Calmar Ratio Rank: 6
HOOG Martin Ratio Rank: 6

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.

CARU vs. HOOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Max Auto Industry 3X Leveraged ETN (CARU) and Leverage Shares 2X Long HOOD Daily ETF (HOOG). 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.

	CARU	HOOG	Difference
Sharpe ratio: Return per unit of total volatility	-0.22	-0.22	-0.01
Sortino ratio: Return per unit of downside risk	0.15	0.64	-0.49
Omega ratio: Gain probability vs. loss probability	1.02	1.07	-0.06
Calmar ratio: Return relative to maximum drawdown	-0.30	-0.34	+0.04
Martin ratio: Return relative to average drawdown	-0.63	-0.55	-0.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CARU vs. HOOG - Sharpe Ratio Comparison

The current CARU Sharpe Ratio is -0.22, which is comparable to the HOOG Sharpe Ratio of -0.22. The chart below compares the historical Sharpe Ratios of CARU and HOOG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CARU	HOOG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.22	-0.22	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	-0.05	0.31	-0.35

Drawdowns

CARU vs. HOOG - Drawdown Comparison

The maximum CARU drawdown since its inception was -66.44%, smaller than the maximum HOOG drawdown of -86.94%. Use the drawdown chart below to compare losses from any high point for CARU and HOOG.

Drawdown Indicators

	CARU	HOOG	Difference
Max Drawdown Largest peak-to-trough decline	-66.44%	-86.94%	+20.50%
Max Drawdown (1Y) Largest decline over 1 year	-50.87%	-86.94%	+36.07%
Current Drawdown Current decline from peak	-39.22%	-81.53%	+42.31%
Average Drawdown Average peak-to-trough decline	-35.91%	-37.56%	+1.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.99%	53.22%	-29.23%

Volatility

CARU vs. HOOG - Volatility Comparison

The current volatility for Max Auto Industry 3X Leveraged ETN (CARU) is 22.70%, while Leverage Shares 2X Long HOOD Daily ETF (HOOG) has a volatility of 41.51%. This indicates that CARU experiences smaller price fluctuations and is considered to be less risky than HOOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CARU	HOOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.70%	41.51%	-18.81%
Volatility (6M) Calculated over the trailing 6-month period	50.26%	100.64%	-50.38%
Volatility (1Y) Calculated over the trailing 1-year period	68.70%	137.15%	-68.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.27%	144.88%	-64.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.27%	144.88%	-64.61%

CARU vs. HOOG - Expense Ratio Comparison

CARU has a 0.95% expense ratio, which is higher than HOOG's 0.75% expense ratio.

Dividends

CARU vs. HOOG - Dividend Comparison

CARU has not paid dividends to shareholders, while HOOG's dividend yield for the trailing twelve months is around 31.07%.

Position	TTM	2025
CARU Max Auto Industry 3X Leveraged ETN	0.00%	0.00%
HOOG Leverage Shares 2X Long HOOD Daily ETF	31.07%	12.30%

Frequently Asked Questions

Can I hold both CARU and HOOG in my portfolio?

CARU and HOOG have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CARU or HOOG?

HOOG has higher volatility (41.51%) compared to CARU (22.70%). In terms of maximum drawdown, CARU dropped -66.44% vs HOOG's -86.94%.

Which ETF is better, CARU or HOOG?

On 1-year performance, CARU leads with -15.14% vs -29.31% for HOOG. On fees, HOOG is cheaper at 0.75% per year. On volatility, CARU has been the lower-risk option at 22.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CARU or HOOG?

Over the 1-year period, CARU has performed better with a -15.14% return vs -29.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CARU or HOOG?

HOOG is cheaper with a 0.75% expense ratio, compared with 0.95% for CARU.

Which ETF pays a higher dividend yield, CARU or HOOG?

HOOG has the higher dividend yield at 31.07%, compared with 0.00% for CARU.

What is the main difference between CARU and HOOG?

They also come from different issuers: Max and Leverage Shares. Their fees differ too: 0.95% for CARU and 0.75% for HOOG.

Which has better risk-adjusted returns?

HOOG currently has the higher Sharpe Ratio (-0.22 vs -0.22), 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.