CRCA vs. NFXS

Last updated Jun 25, 2026

CRCA (ProShares Ultra CRCL) and NFXS (Direxion Daily NFLX Bear 1X Shares) are both exchange-traded funds - CRCA is a Leveraged Equities fund actively managed by ProShares, while NFXS is a Inverse Equities fund actively managed by Direxion. Both are actively managed. At a correlation of -0.19, they often move in opposite directions. CRCA charges 0.95%/yr vs 1.03%/yr for NFXS.

Performance

CRCA vs. NFXS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra CRCL (CRCA) and Direxion Daily NFLX Bear 1X Shares (NFXS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CRCA achieves a -56.81% return, which is significantly lower than NFXS's 26.00% return.

CRCA

• 1D: -13.29%
• 1M: -64.42%
• YTD: -56.81%
• 6M: -60.16%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NFXS

• 1D: 1.44%
• 1M: 23.02%
• YTD: 26.00%
• 6M: 25.81%
• 1Y: 69.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CRCA vs. NFXS - Yearly Performance Comparison

	2026 (YTD)	2025
CRCA ProShares Ultra CRCL	-56.81%	-84.67%
NFXS Direxion Daily NFLX Bear 1X Shares	26.00%	24.47%

Correlation

The correlation between CRCA and NFXS is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 7, 2025	-0.19

Return for Risk

CRCA vs. NFXS — Risk / Return Rank

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

CRCA

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

NFXS

NFXS Risk / Return Rank: 63
NFXS Sharpe Ratio Rank: 75
NFXS Sortino Ratio Rank: 69
NFXS Omega Ratio Rank: 76
NFXS Calmar Ratio Rank: 52
NFXS Martin Ratio Rank: 43

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.

CRCA vs. NFXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra CRCL (CRCA) and Direxion Daily NFLX Bear 1X Shares (NFXS). 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.

	CRCA	NFXS	Difference
Sharpe ratio: Return per unit of total volatility	—	2.08	—
Sortino ratio: Return per unit of downside risk	—	2.72	—
Omega ratio: Gain probability vs. loss probability	—	1.39	—
Calmar ratio: Return relative to maximum drawdown	—	2.24	—
Martin ratio: Return relative to average drawdown	—	6.13	—

Drawdowns

CRCA vs. NFXS - Drawdown Comparison

The maximum CRCA drawdown since its inception was -94.31%, which is greater than NFXS's maximum drawdown of -50.37%. Use the drawdown chart below to compare losses from any high point for CRCA and NFXS.

Drawdown Indicators

	CRCA	NFXS	Difference
Max Drawdown Largest peak-to-trough decline	-94.31%	-50.37%	-43.94%
Max Drawdown (1Y) Largest decline over 1 year	—	-31.31%	—
Current Drawdown Current decline from peak	-93.38%	-11.63%	-81.75%
Average Drawdown Average peak-to-trough decline	-71.83%	-31.89%	-39.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.44%	—

Volatility

Volatility by Period

	CRCA	NFXS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.76%	—
Volatility (6M) Calculated over the trailing 6-month period	—	26.25%	—
Volatility (1Y) Calculated over the trailing 1-year period	194.72%	33.78%	+160.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	194.72%	34.63%	+160.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	194.72%	34.63%	+160.09%

CRCA vs. NFXS - Expense Ratio Comparison

CRCA has a 0.95% expense ratio, which is lower than NFXS's 1.03% expense ratio.

Dividends

CRCA vs. NFXS - Dividend Comparison

CRCA's dividend yield for the trailing twelve months is around 4.01%, more than NFXS's 2.81% yield.

Position	TTM	2025	2024
CRCA ProShares Ultra CRCL	4.01%	1.06%	0.00%
NFXS Direxion Daily NFLX Bear 1X Shares	2.81%	3.53%	0.87%

Frequently Asked Questions

Can I hold both CRCA and NFXS in my portfolio?

CRCA and NFXS have a correlation of -0.19, 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 NFXS?

On fees, CRCA 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, CRCA or NFXS?

CRCA is cheaper with a 0.95% expense ratio, compared with 1.03% for NFXS.

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

CRCA has the higher dividend yield at 4.01%, compared with 2.81% for NFXS.

What is the main difference between CRCA and NFXS?

CRCA is categorized as Leveraged Equities, while NFXS is Inverse Equities. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for CRCA and 1.03% for NFXS.