CRCA vs. SPUU
CRCA (ProShares Ultra CRCL) and SPUU (Direxion Daily S&P 500 Bull 2X ETF) are both Leveraged Equities funds. CRCA is actively managed, while SPUU is passively managed. At a 0.44 correlation, their price movements are largely independent. CRCA charges 0.95%/yr vs 0.60%/yr for SPUU.
Performance
CRCA vs. SPUU - Performance Comparison
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Returns By Period
In the year-to-date period, CRCA achieves a -68.22% return, which is significantly lower than SPUU's 17.85% return.
CRCA
- 1D
- -9.58%
- 1M
- -40.68%
- 6M
- -70.42%
- YTD
- -68.22%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPUU
- 1D
- -1.52%
- 1M
- 1.98%
- 6M
- 13.42%
- YTD
- 17.85%
- 1Y
- 38.09%
- 3Y*
- 33.08%
- 5Y*
- 18.17%
- 10Y*
- 23.89%
CRCA vs. SPUU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CRCA ProShares Ultra CRCL | -68.22% | -84.67% |
SPUU Direxion Daily S&P 500 Bull 2X ETF | 17.85% | 14.39% |
Correlation
The correlation between CRCA and SPUU is 0.44, 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 Aug 7, 2025 | 0.44 |
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Return for Risk
CRCA vs. SPUU — Risk / Return Rank
CRCA
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPUU
CRCA vs. SPUU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra CRCL (CRCA) and Direxion Daily S&P 500 Bull 2X ETF (SPUU). 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 | SPUU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.26 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.10 | — |
| Martin ratioReturn relative to average drawdown | — | 8.72 | — |
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Drawdowns
CRCA vs. SPUU - Drawdown Comparison
The maximum CRCA drawdown since its inception was -95.18%, which is greater than SPUU's maximum drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for CRCA and SPUU.
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Drawdown Indicators
| CRCA | SPUU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.18% | -59.35% | -35.83% |
Max Drawdown (1Y)Largest decline over 1 year | — | -18.19% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -35.18% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -46.59% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -59.35% | — |
Current DrawdownCurrent decline from peak | -95.13% | -2.90% | -92.23% |
Average DrawdownAverage peak-to-trough decline | -72.99% | -9.46% | -63.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 4.38% | — |
Volatility
CRCA vs. SPUU - Volatility Comparison
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Volatility by Period
| CRCA | SPUU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 8.12% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 20.13% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 195.27% | 25.30% | +169.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 195.27% | 33.69% | +161.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 195.27% | 35.76% | +159.51% |
CRCA vs. SPUU - Expense Ratio Comparison
CRCA has a 0.95% expense ratio, which is higher than SPUU's 0.60% expense ratio.
Dividends
CRCA vs. SPUU - Dividend Comparison
CRCA's dividend yield for the trailing twelve months is around 6.93%, more than SPUU's 1.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CRCA ProShares Ultra CRCL | 6.93% | 1.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPUU Direxion Daily S&P 500 Bull 2X ETF | 1.33% | 1.63% | 0.55% | 0.83% | 0.88% | 3.04% | 8.03% | 1.80% | 5.50% | 6.96% | 8.08% | 4.42% |
Frequently Asked Questions
CRCA and SPUU have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPUU is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPUU is cheaper with a 0.60% expense ratio, compared with 0.95% for CRCA.
CRCA has the higher dividend yield at 6.93%, compared with 1.33% for SPUU.
They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for CRCA and 0.60% for SPUU.
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