EFO vs. CRMG

Last updated Jun 4, 2026

EFO (ProShares Ultra MSCI EAFE) and CRMG (Leverage Shares 2X Long CRM Daily ETF) are both Leveraged Equities funds. EFO is passively managed, while CRMG is actively managed. Over the past year, EFO returned 34.57% vs -59.79% for CRMG. At a 0.15 correlation, their price movements are largely independent. EFO charges 0.95%/yr vs 0.75%/yr for CRMG.

Performance

EFO vs. CRMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra MSCI EAFE (EFO) and Leverage Shares 2X Long CRM Daily ETF (CRMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EFO achieves a 12.87% return, which is significantly higher than CRMG's -55.22% return.

EFO

• 1D: -1.58%
• 1M: 6.17%
• YTD: 12.87%
• 6M: 17.60%
• 1Y: 34.57%
• 3Y*: 23.50%
• 5Y*: 7.18%
• 10Y*: 10.16%

CRMG

• 1D: -10.50%
• 1M: 1.49%
• YTD: -55.22%
• 6M: -45.71%
• 1Y: -59.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EFO vs. CRMG - Yearly Performance Comparison

	2026 (YTD)	2025
EFO ProShares Ultra MSCI EAFE	12.87%	64.44%
CRMG Leverage Shares 2X Long CRM Daily ETF	-55.22%	3.69%

Correlation

The correlation between EFO and CRMG is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (All Time) Calculated using the full available price history since Apr 7, 2025	0.15

Return for Risk

EFO vs. CRMG — Risk / Return Rank

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

EFO

EFO Risk / Return Rank: 32
EFO Sharpe Ratio Rank: 31
EFO Sortino Ratio Rank: 31
EFO Omega Ratio Rank: 30
EFO Calmar Ratio Rank: 32
EFO Martin Ratio Rank: 35

CRMG

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

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.

EFO vs. CRMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra MSCI EAFE (EFO) 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.

	EFO	CRMG	Difference
Sharpe ratio Return per unit of total volatility	1.14	-0.80	+1.94
Sortino ratio Return per unit of downside risk	1.71	-1.11	+2.82
Omega ratio Gain probability vs. loss probability	1.21	0.87	+0.34
Calmar ratio Return relative to maximum drawdown	1.57	-0.85	+2.41
Martin ratio Return relative to average drawdown	5.42	-1.46	+6.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EFO vs. CRMG - Sharpe Ratio Comparison

The current EFO Sharpe Ratio is 1.14, which is higher than the CRMG Sharpe Ratio of -0.80. The chart below compares the historical Sharpe Ratios of EFO and CRMG, 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

	EFO	CRMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.14	-0.80	+1.94
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	-0.64	+0.87

Drawdowns

EFO vs. CRMG - Drawdown Comparison

The maximum EFO drawdown since its inception was -63.52%, smaller than the maximum CRMG drawdown of -74.38%. Use the drawdown chart below to compare losses from any high point for EFO and CRMG.

Drawdown Indicators

	EFO	CRMG	Difference
Max Drawdown Largest peak-to-trough decline	-63.52%	-74.38%	+10.86%
Max Drawdown (1Y) Largest decline over 1 year	-22.18%	-70.91%	+48.73%
Max Drawdown (3Y) Largest decline over 3 years	-26.85%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-53.95%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-63.52%	—	—
Current Drawdown Current decline from peak	-5.54%	-67.23%	+61.69%
Average Drawdown Average peak-to-trough decline	-18.67%	-37.71%	+19.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.39%	40.88%	-34.49%

Volatility

EFO vs. CRMG - Volatility Comparison

The current volatility for ProShares Ultra MSCI EAFE (EFO) is 10.08%, while Leverage Shares 2X Long CRM Daily ETF (CRMG) has a volatility of 34.00%. This indicates that EFO 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.

Volatility by Period

	EFO	CRMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.08%	34.00%	-23.92%
Volatility (6M) Calculated over the trailing 6-month period	25.18%	63.89%	-38.71%
Volatility (1Y) Calculated over the trailing 1-year period	30.54%	75.33%	-44.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.98%	75.73%	-42.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.09%	75.73%	-41.64%

EFO vs. CRMG - Expense Ratio Comparison

EFO has a 0.95% expense ratio, which is higher than CRMG's 0.75% expense ratio.

Dividends

EFO vs. CRMG - Dividend Comparison

EFO's dividend yield for the trailing twelve months is around 1.54%, while CRMG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CRMG Leverage Shares 2X Long CRM Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EFO ProShares Ultra MSCI EAFE	1.54%	1.65%	2.24%	1.93%	0.00%	0.00%	0.00%	0.37%	0.11%

Frequently Asked Questions

Can I hold both EFO and CRMG in my portfolio?

EFO and CRMG have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EFO or CRMG?

CRMG has higher volatility (34.00%) compared to EFO (10.08%). In terms of maximum drawdown, EFO dropped -63.52% vs CRMG's -74.38%.

Which ETF is better, EFO or CRMG?

On 1-year performance, EFO leads with 34.57% vs -59.79% for CRMG. On fees, CRMG is cheaper at 0.75% per year. On volatility, EFO has been the lower-risk option at 10.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EFO or CRMG?

Over the 1-year period, EFO has performed better with a 34.57% return vs -59.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EFO or CRMG?

CRMG is cheaper with a 0.75% expense ratio, compared with 0.95% for EFO.

Which ETF pays a higher dividend yield, EFO or CRMG?

EFO has the higher dividend yield at 1.54%, compared with 0.00% for CRMG.

What is the main difference between EFO and CRMG?

They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for EFO and 0.75% for CRMG.

Which has better risk-adjusted returns?

EFO currently has the higher Sharpe Ratio (1.14 vs -0.80), 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.