CRWG vs. AAPU

Last updated Jun 5, 2026

CRWG (Leverage Shares 2X Long CRWV Daily ETF) and AAPU (Direxion Daily AAPL Bull 2X Shares) are both Leveraged Equities funds. CRWG is actively managed, while AAPU is passively managed. At a 0.07 correlation, their price movements are largely independent. CRWG charges 0.75%/yr vs 1.04%/yr for AAPU.

Performance

CRWG vs. AAPU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long CRWV Daily ETF (CRWG) and Direxion Daily AAPL Bull 2X Shares (AAPU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CRWG achieves a 46.05% return, which is significantly higher than AAPU's 23.73% return.

CRWG

• 1D: -5.06%
• 1M: -34.22%
• YTD: 46.05%
• 6M: -7.18%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AAPU

• 1D: 0.46%
• 1M: 19.06%
• YTD: 23.73%
• 6M: 15.25%
• 1Y: 106.09%
• 3Y*: 26.68%
• 5Y*: —
• 10Y*: —

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

CRWG vs. AAPU - Yearly Performance Comparison

	2026 (YTD)	2025
CRWG Leverage Shares 2X Long CRWV Daily ETF	46.05%	-83.24%
AAPU Direxion Daily AAPL Bull 2X Shares	23.73%	36.38%

Correlation

The correlation between CRWG and AAPU is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 12, 2025	0.07

Return for Risk

CRWG vs. AAPU — Risk / Return Rank

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

AAPU

AAPU Risk / Return Rank: 67
AAPU Sharpe Ratio Rank: 75
AAPU Sortino Ratio Rank: 68
AAPU Omega Ratio Rank: 65
AAPU Calmar Ratio Rank: 75
AAPU Martin Ratio Rank: 53

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.

CRWG vs. AAPU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long CRWV Daily ETF (CRWG) and Direxion Daily AAPL Bull 2X Shares (AAPU). 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

	CRWG	AAPU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.39	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.43	0.46	-0.89

Drawdowns

CRWG vs. AAPU - Drawdown Comparison

The maximum CRWG drawdown since its inception was -89.42%, which is greater than AAPU's maximum drawdown of -58.61%. Use the drawdown chart below to compare losses from any high point for CRWG and AAPU.

Drawdown Indicators

	CRWG	AAPU	Difference
Max Drawdown Largest peak-to-trough decline	-89.42%	-58.61%	-30.81%
Max Drawdown (1Y) Largest decline over 1 year	—	-28.90%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-58.61%	—
Current Drawdown Current decline from peak	-78.18%	-2.59%	-75.59%
Average Drawdown Average peak-to-trough decline	-68.58%	-17.67%	-50.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.98%	—

Volatility

Volatility by Period

	CRWG	AAPU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.81%	—
Volatility (6M) Calculated over the trailing 6-month period	—	31.73%	—
Volatility (1Y) Calculated over the trailing 1-year period	191.34%	44.65%	+146.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	191.34%	48.90%	+142.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	191.34%	48.90%	+142.44%

CRWG vs. AAPU - Expense Ratio Comparison

CRWG has a 0.75% expense ratio, which is lower than AAPU's 1.04% expense ratio.

Dividends

CRWG vs. AAPU - Dividend Comparison

CRWG's dividend yield for the trailing twelve months is around 5.06%, less than AAPU's 6.87% yield.

Position	TTM	2025	2024	2023	2022
AAPU Direxion Daily AAPL Bull 2X Shares	6.87%	8.66%	14.58%	2.32%	0.79%
CRWG Leverage Shares 2X Long CRWV Daily ETF	5.06%	7.39%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CRWG and AAPU in my portfolio?

CRWG and AAPU have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CRWG or AAPU?

On fees, CRWG 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, CRWG or AAPU?

CRWG is cheaper with a 0.75% expense ratio, compared with 1.04% for AAPU.

Which ETF pays a higher dividend yield, CRWG or AAPU?

AAPU has the higher dividend yield at 6.87%, compared with 5.06% for CRWG.

What is the main difference between CRWG and AAPU?

They also come from different issuers: Leverage Shares and Direxion. Their fees differ too: 0.75% for CRWG and 1.04% for AAPU.