CXRN vs. UGL

Last updated Jul 14, 2026

CXRN (Teucrium 2x Daily Corn ETF) and UGL (ProShares Ultra Gold) are both Leveraged Commodities funds. CXRN is actively managed, while UGL is passively managed. Over the past year, CXRN returned -10.34% vs 21.38% for UGL. At a 0.06 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

CXRN vs. UGL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Teucrium 2x Daily Corn ETF (CXRN) and ProShares Ultra Gold (UGL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CXRN achieves a -12.91% return, which is significantly higher than UGL's -21.87% return.

CXRN

• 1D: 0.56%
• 1M: 8.98%
• 6M: -4.70%
• YTD: -12.91%
• 1Y: -10.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UGL

• 1D: -5.20%
• 1M: -10.54%
• 6M: -30.93%
• YTD: -21.87%
• 1Y: 21.38%
• 3Y*: 42.32%
• 5Y*: 23.26%
• 10Y*: 14.39%

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

CXRN vs. UGL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CXRN Teucrium 2x Daily Corn ETF	-12.91%	-25.68%	7.40%
UGL ProShares Ultra Gold	-21.87%	137.57%	-4.49%

Correlation

The correlation between CXRN and UGL is -0.00, 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 (1Y) Calculated over the trailing 1-year period	-0.00
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024	0.06

Return for Risk

CXRN vs. UGL — Risk / Return Rank

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

CXRN

CXRN Risk / Return Rank: 6
CXRN Sharpe Ratio Rank: 7
CXRN Sortino Ratio Rank: 7
CXRN Omega Ratio Rank: 7
CXRN Calmar Ratio Rank: 6
CXRN Martin Ratio Rank: 5

UGL

UGL Risk / Return Rank: 17
UGL Sharpe Ratio Rank: 16
UGL Sortino Ratio Rank: 19
UGL Omega Ratio Rank: 21
UGL Calmar Ratio Rank: 15
UGL Martin Ratio Rank: 15

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. UGL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Teucrium 2x Daily Corn ETF (CXRN) and ProShares Ultra Gold (UGL). 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.

	CXRN	UGL	Difference
Sharpe ratio: Return per unit of total volatility	-0.28	0.39	-0.67
Sortino ratio: Return per unit of downside risk	-0.16	0.84	-1.00
Omega ratio: Gain probability vs. loss probability	0.98	1.12	-0.14
Calmar ratio: Return relative to maximum drawdown	-0.32	0.43	-0.76
Martin ratio: Return relative to average drawdown	-0.90	0.99	-1.89

CXRN vs. UGL - Sharpe Ratio Comparison

The current CXRN Sharpe Ratio is -0.28, which is lower than the UGL Sharpe Ratio of 0.39. The chart below compares the historical Sharpe Ratios of CXRN and UGL, 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

CXRN vs. UGL - Drawdown Comparison

The maximum CXRN drawdown since its inception was -53.17%, smaller than the maximum UGL drawdown of -75.93%. Use the drawdown chart below to compare losses from any high point for CXRN and UGL.

Drawdown Indicators

	CXRN	UGL	Difference
Max Drawdown Largest peak-to-trough decline	-53.17%	-75.93%	+22.76%
Max Drawdown (1Y) Largest decline over 1 year	-31.96%	-49.38%	+17.42%
Max Drawdown (3Y) Largest decline over 3 years	—	-49.38%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-49.38%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-49.38%	—
Current Drawdown Current decline from peak	-45.84%	-49.33%	+3.49%
Average Drawdown Average peak-to-trough decline	-31.28%	-43.63%	+12.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.49%	21.73%	-10.24%

Volatility

CXRN vs. UGL - Volatility Comparison

Teucrium 2x Daily Corn ETF (CXRN) and ProShares Ultra Gold (UGL) have volatilities of 15.36% and 15.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CXRN	UGL	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.36%	15.14%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	29.82%	48.71%	-18.89%
Volatility (1Y) Calculated over the trailing 1-year period	36.85%	55.56%	-18.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.77%	36.94%	+0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.77%	32.63%	+5.14%

CXRN vs. UGL - Expense Ratio Comparison

Both CXRN and UGL have an expense ratio of 0.95%.

Dividends

CXRN vs. UGL - Dividend Comparison

CXRN's dividend yield for the trailing twelve months is around 2.47%, while UGL has not paid dividends to shareholders.

Position	TTM	2025	2024
CXRN Teucrium 2x Daily Corn ETF	2.47%	3.30%	0.13%
UGL ProShares Ultra Gold	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CXRN and UGL in my portfolio?

CXRN and UGL have a correlation of -0.00, 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 UGL?

CXRN has higher volatility (15.36%) compared to UGL (15.14%). In terms of maximum drawdown, CXRN dropped -53.17% vs UGL's -75.93%.

Which ETF is better, CXRN or UGL?

On 1-year performance, UGL leads with 21.38% vs -10.34% for CXRN. Both ETFs have the same 0.95% expense ratio. On volatility, UGL has been the lower-risk option at 15.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CXRN or UGL?

Over the 1-year period, UGL has performed better with a 21.38% return vs -10.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CXRN or UGL?

CXRN and UGL have the same expense ratio: 0.95% per year.

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

CXRN has the higher dividend yield at 2.47%, compared with 0.00% for UGL.

What is the main difference between CXRN and UGL?

They also come from different issuers: Teucrium and ProShares.

Which has better risk-adjusted returns?

UGL currently has the higher Sharpe Ratio (0.39 vs -0.28), 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.