CRCA vs. UVXY
CRCA (ProShares Ultra CRCL) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - CRCA is a Leveraged Equities fund actively managed by ProShares, while UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%). CRCA is actively managed, while UVXY is passively managed. Their -0.33 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.
Performance
CRCA vs. UVXY - Performance Comparison
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Returns By Period
In the year-to-date period, CRCA achieves a -70.23% return, which is significantly lower than UVXY's -35.24% return.
CRCA
- 1D
- -5.20%
- 1M
- -12.09%
- 6M
- -51.11%
- YTD
- -70.23%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
UVXY
- 1D
- -4.24%
- 1M
- -6.17%
- 6M
- -37.50%
- YTD
- -35.24%
- 1Y
- -73.24%
- 3Y*
- -61.42%
- 5Y*
- -68.18%
- 10Y*
- -71.50%
- ALL TIME*
- -80.18%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $13.28M | $18.49M | $44.45M | |
| $190.03M | $191.90M | $239.87M |
CRCA vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CRCA ProShares Ultra CRCL | -70.23% | -84.67% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -35.24% | -52.35% |
Correlation
The correlation between CRCA and UVXY is -0.33, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 7, 2025 | -0.33 |
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Return for Risk
CRCA vs. UVXY — Risk / Return Rank
CRCA
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
UVXY
CRCA vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra CRCL (CRCA) and ProShares Ultra VIX Short-Term Futures ETF (UVXY). 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 | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.85 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.95 | — |
| Martin ratioReturn relative to average drawdown | — | -1.35 | — |
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Drawdowns
CRCA vs. UVXY - Drawdown Comparison
The maximum CRCA drawdown since its inception was -95.61%, roughly equal to the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for CRCA and UVXY.
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Drawdown Indicators
| CRCA | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.61% | -100.00% | +4.39% |
Max Drawdown (1Y)Largest decline over 1 year | — | -73.88% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -95.42% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -99.68% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | -95.44% | -100.00% | +4.56% |
Average DrawdownAverage peak-to-trough decline | -74.24% | -98.76% | +24.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 51.60% | — |
Volatility
CRCA vs. UVXY - Volatility Comparison
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Volatility by Period
| CRCA | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 22.30% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 65.55% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 193.78% | 87.28% | +106.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 193.78% | 103.39% | +90.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 193.78% | 112.09% | +81.69% |
CRCA vs. UVXY - Expense Ratio Comparison
Both CRCA and UVXY have an expense ratio of 0.95%.
Dividends
CRCA vs. UVXY - Dividend Comparison
CRCA's dividend yield for the trailing twelve months is around 7.40%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
CRCA ProShares Ultra CRCL | 7.40% | 1.06% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | 0.00% | 0.00% |
Frequently Asked Questions
CRCA and UVXY 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.
Both ETFs have the same 0.95% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
CRCA and UVXY have the same expense ratio: 0.95% per year.
CRCA has the higher dividend yield at 7.40%, compared with 0.00% for UVXY.
CRCA is categorized as Leveraged Equities, while UVXY is Volatility.
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