CVNX vs. CRMG
CVNX (Defiance Daily Target 2X Long CVNA ETF) and CRMG (Leverage Shares 2X Long CRM Daily ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, CVNX returned -27.67% vs -74.56% for CRMG. At a 0.16 correlation, their price movements are largely independent. CVNX charges 1.31%/yr vs 0.75%/yr for CRMG.
Performance
CVNX vs. CRMG - Performance Comparison
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Returns By Period
In the year-to-date period, CVNX achieves a -46.52% return, which is significantly higher than CRMG's -72.43% return.
CVNX
- 1D
- 0.00%
- 1M
- 2.52%
- YTD
- -46.52%
- 6M
- -49.11%
- 1Y
- -27.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CRMG
- 1D
- -2.33%
- 1M
- -32.50%
- YTD
- -72.43%
- 6M
- -72.45%
- 1Y
- -74.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CVNX vs. CRMG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CVNX Defiance Daily Target 2X Long CVNA ETF | -46.52% | 29.94% |
CRMG Leverage Shares 2X Long CRM Daily ETF | -72.43% | -18.88% |
Correlation
The correlation between CVNX and CRMG is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since May 29, 2025 | 0.16 |
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Return for Risk
CVNX vs. CRMG — Risk / Return Rank
CVNX
CRMG
CVNX vs. CRMG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long CVNA ETF (CVNX) and Leverage Shares 2X Long CRM Daily ETF (CRMG). 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.
| CVNX | CRMG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +2.31 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 0.79 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.40 | -0.97 | +0.57 |
| Martin ratioReturn relative to average drawdown | -0.73 | -1.73 | +1.00 |
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Drawdowns
CVNX vs. CRMG - Drawdown Comparison
The maximum CVNX drawdown since its inception was -69.62%, smaller than the maximum CRMG drawdown of -79.83%. Use the drawdown chart below to compare losses from any high point for CVNX and CRMG.
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Drawdown Indicators
| CVNX | CRMG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.62% | -79.83% | +10.21% |
Max Drawdown (1Y)Largest decline over 1 year | -69.62% | -76.80% | +7.18% |
Current DrawdownCurrent decline from peak | -57.59% | -79.83% | +22.24% |
Average DrawdownAverage peak-to-trough decline | -30.69% | -39.05% | +8.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.05% | 43.14% | -5.09% |
Volatility
CVNX vs. CRMG - Volatility Comparison
The current volatility for Defiance Daily Target 2X Long CVNA ETF (CVNX) is 26.57%, while Leverage Shares 2X Long CRM Daily ETF (CRMG) has a volatility of 32.09%. This indicates that CVNX experiences smaller price fluctuations and is considered to be less risky than CRMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CVNX | CRMG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 26.57% | 32.09% | -5.52% |
Volatility (6M)Calculated over the trailing 6-month period | 84.77% | 63.54% | +21.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 116.97% | 76.13% | +40.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 115.85% | 75.40% | +40.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 115.85% | 75.40% | +40.45% |
CVNX vs. CRMG - Expense Ratio Comparison
CVNX has a 1.31% expense ratio, which is higher than CRMG's 0.75% expense ratio.
Dividends
CVNX vs. CRMG - Dividend Comparison
Neither CVNX nor CRMG has paid dividends to shareholders.
Frequently Asked Questions
CVNX and CRMG have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CRMG has higher volatility (32.09%) compared to CVNX (26.57%). In terms of maximum drawdown, CVNX dropped -69.62% vs CRMG's -79.83%.
On 1-year performance, CVNX leads with -27.67% vs -74.56% for CRMG. On fees, CRMG is cheaper at 0.75% per year. On volatility, CVNX has been the lower-risk option at 26.57%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CVNX has performed better with a -27.67% return vs -74.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CRMG is cheaper with a 0.75% expense ratio, compared with 1.31% for CVNX.
CVNX and CRMG have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Defiance and Leverage Shares. Their fees differ too: 1.31% for CVNX and 0.75% for CRMG.
CVNX currently has the higher Sharpe Ratio (-0.24 vs -0.98), 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.
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