CRCA vs. GRAG

Last updated Jun 4, 2026

CRCA (ProShares Ultra CRCL) and GRAG (Leverage Shares 2X Long GRAB Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.13 correlation, their price movements are largely independent. CRCA charges 0.95%/yr vs 0.75%/yr for GRAG.

Performance

CRCA vs. GRAG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra CRCL (CRCA) and Leverage Shares 2X Long GRAB Daily ETF (GRAG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CRCA achieves a -25.37% return, which is significantly higher than GRAG's -58.07% return.

CRCA

• 1D: -20.86%
• 1M: -48.25%
• YTD: -25.37%
• 6M: -39.99%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GRAG

• 1D: -9.91%
• 1M: -12.45%
• YTD: -58.07%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CRCA vs. GRAG - Yearly Performance Comparison

	2026 (YTD)	2025
CRCA ProShares Ultra CRCL	-25.37%	-23.10%
GRAG Leverage Shares 2X Long GRAB Daily ETF	-58.07%	-7.82%

Correlation

The correlation between CRCA and GRAG is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 12, 2025	0.13

Return for Risk

CRCA vs. GRAG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra CRCL (CRCA) and Leverage Shares 2X Long GRAB Daily ETF (GRAG). 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.

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

Sharpe Ratios by Period

	CRCA	GRAG	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.47	-1.25	+0.78

Drawdowns

CRCA vs. GRAG - Drawdown Comparison

The maximum CRCA drawdown since its inception was -94.02%, which is greater than GRAG's maximum drawdown of -62.22%. Use the drawdown chart below to compare losses from any high point for CRCA and GRAG.

Drawdown Indicators

	CRCA	GRAG	Difference
Max Drawdown Largest peak-to-trough decline	-94.02%	-62.22%	-31.80%
Current Drawdown Current decline from peak	-87.98%	-62.22%	-25.76%
Average Drawdown Average peak-to-trough decline	-69.26%	-39.65%	-29.61%

Volatility

Volatility by Period

	CRCA	GRAG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	196.79%	69.83%	+126.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	196.79%	69.83%	+126.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	196.79%	69.83%	+126.96%

CRCA vs. GRAG - Expense Ratio Comparison

CRCA has a 0.95% expense ratio, which is higher than GRAG's 0.75% expense ratio.

Dividends

CRCA vs. GRAG - Dividend Comparison

CRCA's dividend yield for the trailing twelve months is around 2.32%, while GRAG has not paid dividends to shareholders.

Position	TTM	2025
CRCA ProShares Ultra CRCL	2.32%	1.06%
GRAG Leverage Shares 2X Long GRAB Daily ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both CRCA and GRAG in my portfolio?

CRCA and GRAG have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CRCA or GRAG?

On fees, GRAG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CRCA or GRAG?

GRAG is cheaper with a 0.75% expense ratio, compared with 0.95% for CRCA.

Which ETF pays a higher dividend yield, CRCA or GRAG?

CRCA has the higher dividend yield at 2.32%, compared with 0.00% for GRAG.

What is the main difference between CRCA and GRAG?

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