CRMG vs. LSEQ

Last updated Jul 12, 2026

CRMG (Leverage Shares 2X Long CRM Daily ETF) and LSEQ (Harbor Long-Short Equity ETF) are both exchange-traded funds - CRMG is a Leveraged Equities fund actively managed by Leverage Shares, while LSEQ is a Long-Short fund actively managed by Harbor. Both are actively managed. Over the past year, CRMG returned -69.19% vs 28.09% for LSEQ. At a correlation of -0.19, they often move in opposite directions. CRMG charges 0.75%/yr vs 1.70%/yr for LSEQ.

Performance

CRMG vs. LSEQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long CRM Daily ETF (CRMG) and Harbor Long-Short Equity ETF (LSEQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CRMG achieves a -67.91% return, which is significantly lower than LSEQ's 24.65% return.

CRMG

• 1D: 0.46%
• 1M: -5.38%
• 6M: -66.41%
• YTD: -67.91%
• 1Y: -69.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

LSEQ

• 1D: 0.05%
• 1M: -3.92%
• 6M: 19.89%
• YTD: 24.65%
• 1Y: 28.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CRMG vs. LSEQ - Yearly Performance Comparison

	2026 (YTD)	2025
CRMG Leverage Shares 2X Long CRM Daily ETF	-67.91%	-0.29%
LSEQ Harbor Long-Short Equity ETF	24.65%	-3.74%

Correlation

The correlation between CRMG and LSEQ is -0.22, 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 (1Y) Calculated over the trailing 1-year period	-0.22
Correlation (All Time) Calculated using the full available price history since Apr 4, 2025	-0.19

Return for Risk

CRMG vs. LSEQ — Risk / Return Rank

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

CRMG

CRMG Risk / Return Rank: 1
CRMG Sharpe Ratio Rank: 2
CRMG Sortino Ratio Rank: 1
CRMG Omega Ratio Rank: 1
CRMG Calmar Ratio Rank: 1
CRMG Martin Ratio Rank: 1

LSEQ

LSEQ Risk / Return Rank: 73
LSEQ Sharpe Ratio Rank: 68
LSEQ Sortino Ratio Rank: 66
LSEQ Omega Ratio Rank: 67
LSEQ Calmar Ratio Rank: 86
LSEQ Martin Ratio Rank: 77

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.

CRMG vs. LSEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long CRM Daily ETF (CRMG) and Harbor Long-Short Equity ETF (LSEQ). 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.

	CRMG	LSEQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.92	1.77	-2.69
Sortino ratio: Return per unit of downside risk	-1.60	2.44	-4.04
Omega ratio: Gain probability vs. loss probability	0.82	1.32	-0.50
Calmar ratio: Return relative to maximum drawdown	-0.93	3.80	-4.74
Martin ratio: Return relative to average drawdown	-1.59	11.44	-13.02

CRMG vs. LSEQ - Sharpe Ratio Comparison

The current CRMG Sharpe Ratio is -0.92, which is lower than the LSEQ Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of CRMG and LSEQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CRMG vs. LSEQ - Drawdown Comparison

The maximum CRMG drawdown since its inception was -79.83%, which is greater than LSEQ's maximum drawdown of -8.35%. Use the drawdown chart below to compare losses from any high point for CRMG and LSEQ.

Drawdown Indicators

	CRMG	LSEQ	Difference
Max Drawdown Largest peak-to-trough decline	-79.83%	-8.35%	-71.48%
Max Drawdown (1Y) Largest decline over 1 year	-75.82%	-7.40%	-68.42%
Current Drawdown Current decline from peak	-76.52%	-4.55%	-71.97%
Average Drawdown Average peak-to-trough decline	-40.61%	-3.20%	-37.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.54%	2.45%	+42.09%

Volatility

CRMG vs. LSEQ - Volatility Comparison

Leverage Shares 2X Long CRM Daily ETF (CRMG) has a higher volatility of 20.86% compared to Harbor Long-Short Equity ETF (LSEQ) at 5.76%. This indicates that CRMG's price experiences larger fluctuations and is considered to be riskier than LSEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CRMG	LSEQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.86%	5.76%	+15.10%
Volatility (6M) Calculated over the trailing 6-month period	64.67%	13.65%	+51.02%
Volatility (1Y) Calculated over the trailing 1-year period	77.21%	15.92%	+61.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.38%	14.56%	+60.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	75.38%	14.56%	+60.82%

CRMG vs. LSEQ - Expense Ratio Comparison

CRMG has a 0.75% expense ratio, which is lower than LSEQ's 1.70% expense ratio.

Dividends

CRMG vs. LSEQ - Dividend Comparison

CRMG has not paid dividends to shareholders, while LSEQ's dividend yield for the trailing twelve months is around 1.77%.

Position	TTM	2025
CRMG Leverage Shares 2X Long CRM Daily ETF	0.00%	0.00%
LSEQ Harbor Long-Short Equity ETF	1.77%	2.20%

Frequently Asked Questions

Can I hold both CRMG and LSEQ in my portfolio?

CRMG and LSEQ have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CRMG or LSEQ?

CRMG has higher volatility (20.86%) compared to LSEQ (5.76%). In terms of maximum drawdown, CRMG dropped -79.83% vs LSEQ's -8.35%.

Which ETF is better, CRMG or LSEQ?

On 1-year performance, LSEQ leads with 28.09% vs -69.19% for CRMG. On fees, CRMG is cheaper at 0.75% per year. On volatility, LSEQ has been the lower-risk option at 5.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CRMG or LSEQ?

Over the 1-year period, LSEQ has performed better with a 28.09% return vs -69.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CRMG or LSEQ?

CRMG is cheaper with a 0.75% expense ratio, compared with 1.70% for LSEQ.

Which ETF pays a higher dividend yield, CRMG or LSEQ?

LSEQ has the higher dividend yield at 1.77%, compared with 0.00% for CRMG.

What is the main difference between CRMG and LSEQ?

CRMG is categorized as Leveraged Equities, while LSEQ is Long-Short. They also come from different issuers: Leverage Shares and Harbor. Their fees differ too: 0.75% for CRMG and 1.70% for LSEQ.

Which has better risk-adjusted returns?

LSEQ currently has the higher Sharpe Ratio (1.77 vs -0.92), 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.