CRWL vs. OPEG
CRWL (GraniteShares 2x Long CRWD Daily ETF) and OPEG (Leverage Shares 2X Long OPEN Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.23 correlation, their price movements are largely independent. CRWL charges 1.50%/yr vs 0.75%/yr for OPEG.
Performance
CRWL vs. OPEG - Performance Comparison
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Returns By Period
In the year-to-date period, CRWL achieves a 127.84% return, which is significantly higher than OPEG's -60.46% return.
CRWL
- 1D
- -0.41%
- 1M
- 35.19%
- 6M
- 145.85%
- YTD
- 127.84%
- 1Y
- 96.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OPEG
- 1D
- -3.13%
- 1M
- -3.86%
- 6M
- -67.59%
- YTD
- -60.46%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CRWL vs. OPEG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CRWL GraniteShares 2x Long CRWD Daily ETF | 127.84% | -19.92% |
OPEG Leverage Shares 2X Long OPEN Daily ETF | -60.46% | -33.35% |
Correlation
The correlation between CRWL and OPEG is 0.23, 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 Dec 11, 2025 | 0.23 |
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Return for Risk
CRWL vs. OPEG — Risk / Return Rank
CRWL
OPEG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CRWL vs. OPEG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long CRWD Daily ETF (CRWL) and Leverage Shares 2X Long OPEN Daily ETF (OPEG). 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.
| CRWL | OPEG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.23 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | — | — |
| Martin ratioReturn relative to average drawdown | 3.06 | — | — |
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Drawdowns
CRWL vs. OPEG - Drawdown Comparison
The maximum CRWL drawdown since its inception was -64.99%, smaller than the maximum OPEG drawdown of -75.76%. Use the drawdown chart below to compare losses from any high point for CRWL and OPEG.
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Drawdown Indicators
| CRWL | OPEG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.99% | -75.76% | +10.77% |
Max Drawdown (1Y)Largest decline over 1 year | -64.99% | — | — |
Current DrawdownCurrent decline from peak | -7.38% | -73.72% | +66.34% |
Average DrawdownAverage peak-to-trough decline | -24.14% | -54.95% | +30.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.81% | — | — |
Volatility
CRWL vs. OPEG - Volatility Comparison
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Volatility by Period
| CRWL | OPEG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 31.53% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 80.06% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 95.17% | 147.09% | -51.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 97.19% | 147.09% | -49.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 97.19% | 147.09% | -49.90% |
CRWL vs. OPEG - Expense Ratio Comparison
CRWL has a 1.50% expense ratio, which is higher than OPEG's 0.75% expense ratio.
Dividends
CRWL vs. OPEG - Dividend Comparison
Neither CRWL nor OPEG has paid dividends to shareholders.
Frequently Asked Questions
CRWL and OPEG have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, OPEG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
OPEG is cheaper with a 0.75% expense ratio, compared with 1.50% for CRWL.
CRWL and OPEG have nearly identical dividend yields, around 0.00%.
They also come from different issuers: GraniteShares and Leverage Shares. Their fees differ too: 1.50% for CRWL and 0.75% for OPEG.
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