CXRN vs. HYGW

Last updated Jun 3, 2026

CXRN (Teucrium 2x Daily Corn ETF) and HYGW (iShares High Yield Corporate Bond Buywrite Strategy ETF) are both exchange-traded funds - CXRN is a Leveraged Commodities fund actively managed by Teucrium, while HYGW is a High Yield Bonds fund tracking the Cboe HYG BuyWrite Index. CXRN is actively managed, while HYGW is passively managed. Over the past year, CXRN returned -19.92% vs 6.58% for HYGW. At a correlation of -0.19, they often move in opposite directions. CXRN charges 0.95%/yr vs 0.69%/yr for HYGW.

Performance

CXRN vs. HYGW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Teucrium 2x Daily Corn ETF (CXRN) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CXRN achieves a -9.43% return, which is significantly lower than HYGW's 1.75% return.

CXRN

• 1D: -2.14%
• 1M: -16.28%
• YTD: -9.43%
• 6M: -12.86%
• 1Y: -19.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYGW

• 1D: -0.07%
• 1M: 0.57%
• YTD: 1.75%
• 6M: 2.57%
• 1Y: 6.58%
• 3Y*: 5.66%
• 5Y*: —
• 10Y*: —

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

CXRN vs. HYGW - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CXRN Teucrium 2x Daily Corn ETF	-9.43%	-25.68%	7.40%
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	1.75%	6.19%	-0.65%

Correlation

The correlation between CXRN and HYGW is -0.24, 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	-0.24
Correlation (All Time) Calculated using the full available price history since Dec 16, 2024	-0.19

Return for Risk

CXRN vs. HYGW — Risk / Return Rank

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

CXRN

CXRN Risk / Return Rank: 3
CXRN Sharpe Ratio Rank: 4
CXRN Sortino Ratio Rank: 4
CXRN Omega Ratio Rank: 4
CXRN Calmar Ratio Rank: 2
CXRN Martin Ratio Rank: 1

HYGW

HYGW Risk / Return Rank: 78
HYGW Sharpe Ratio Rank: 71
HYGW Sortino Ratio Rank: 77
HYGW Omega Ratio Rank: 83
HYGW Calmar Ratio Rank: 74
HYGW Martin Ratio Rank: 83

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.

CXRN vs. HYGW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Teucrium 2x Daily Corn ETF (CXRN) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). 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.

	CXRN	HYGW	Difference
Sharpe ratio Return per unit of total volatility	-0.55	2.36	-2.91
Sortino ratio Return per unit of downside risk	-0.58	3.47	-4.05
Omega ratio Gain probability vs. loss probability	0.93	1.51	-0.58
Calmar ratio Return relative to maximum drawdown	-0.86	3.76	-4.62
Martin ratio Return relative to average drawdown	-1.56	17.24	-18.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CXRN vs. HYGW - Sharpe Ratio Comparison

The current CXRN Sharpe Ratio is -0.55, which is lower than the HYGW Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of CXRN and HYGW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CXRN	HYGW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.55	2.36	-2.91
Sharpe Ratio (All Time) Calculated using the full available price history	-0.55	1.25	-1.80

Drawdowns

CXRN vs. HYGW - Drawdown Comparison

The maximum CXRN drawdown since its inception was -46.71%, which is greater than HYGW's maximum drawdown of -5.49%. Use the drawdown chart below to compare losses from any high point for CXRN and HYGW.

Drawdown Indicators

	CXRN	HYGW	Difference
Max Drawdown Largest peak-to-trough decline	-46.71%	-5.49%	-41.22%
Max Drawdown (1Y) Largest decline over 1 year	-25.27%	-1.82%	-23.45%
Max Drawdown (3Y) Largest decline over 3 years	—	-3.66%	—
Current Drawdown Current decline from peak	-43.68%	-0.10%	-43.58%
Average Drawdown Average peak-to-trough decline	-30.04%	-0.61%	-29.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.89%	0.40%	+13.49%

Volatility

CXRN vs. HYGW - Volatility Comparison

Teucrium 2x Daily Corn ETF (CXRN) has a higher volatility of 15.34% compared to iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) at 0.90%. This indicates that CXRN's price experiences larger fluctuations and is considered to be riskier than HYGW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CXRN	HYGW	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.34%	0.90%	+14.44%
Volatility (6M) Calculated over the trailing 6-month period	26.41%	2.21%	+24.20%
Volatility (1Y) Calculated over the trailing 1-year period	36.13%	2.81%	+33.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.78%	4.68%	+32.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.78%	4.68%	+32.10%

CXRN vs. HYGW - Expense Ratio Comparison

CXRN has a 0.95% expense ratio, which is higher than HYGW's 0.69% expense ratio.

Dividends

CXRN vs. HYGW - Dividend Comparison

CXRN's dividend yield for the trailing twelve months is around 2.49%, less than HYGW's 12.89% yield.

Position	TTM	2025	2024	2023	2022
CXRN Teucrium 2x Daily Corn ETF	2.49%	3.30%	0.13%	0.00%	0.00%
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	12.89%	12.53%	12.30%	15.98%	8.71%

Frequently Asked Questions

Can I hold both CXRN and HYGW in my portfolio?

CXRN and HYGW have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CXRN or HYGW?

CXRN has higher volatility (15.34%) compared to HYGW (0.90%). In terms of maximum drawdown, CXRN dropped -46.71% vs HYGW's -5.49%.

Which ETF is better, CXRN or HYGW?

On 1-year performance, HYGW leads with 6.58% vs -19.92% for CXRN. On fees, HYGW is cheaper at 0.69% per year. On volatility, HYGW has been the lower-risk option at 0.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CXRN or HYGW?

Over the 1-year period, HYGW has performed better with a 6.58% return vs -19.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CXRN or HYGW?

HYGW is cheaper with a 0.69% expense ratio, compared with 0.95% for CXRN.

Which ETF pays a higher dividend yield, CXRN or HYGW?

HYGW has the higher dividend yield at 12.89%, compared with 2.49% for CXRN.

What is the main difference between CXRN and HYGW?

CXRN is categorized as Leveraged Commodities, while HYGW is High Yield Bonds. They also come from different issuers: Teucrium and iShares. Their fees differ too: 0.95% for CXRN and 0.69% for HYGW.

Which has better risk-adjusted returns?

HYGW currently has the higher Sharpe Ratio (2.36 vs -0.55), 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.