ETU vs. BTCL

Last updated Jun 5, 2026

ETU (T-Rex 2X Long Ether Daily Target ETF) and BTCL (T-REX 2X Long Bitcoin Daily Target ETF) are both Leveraged Cryptocurrency funds. Both are actively managed. Over the past year, ETU returned -75.56% vs -74.96% for BTCL. Their correlation of 0.81 suggests significant overlap in exposure. Both charge a 0.95% expense ratio.

Performance

ETU vs. BTCL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Long Ether Daily Target ETF (ETU) and T-REX 2X Long Bitcoin Daily Target ETF (BTCL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETU achieves a -72.00% return, which is significantly lower than BTCL's -55.71% return.

ETU

• 1D: -2.42%
• 1M: -45.33%
• YTD: -72.00%
• 6M: -76.01%
• 1Y: -75.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BTCL

• 1D: -5.31%
• 1M: -40.66%
• YTD: -55.71%
• 6M: -61.59%
• 1Y: -74.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ETU vs. BTCL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ETU T-Rex 2X Long Ether Daily Target ETF	-72.00%	-62.44%	50.47%
BTCL T-REX 2X Long Bitcoin Daily Target ETF	-55.71%	-39.52%	69.94%

Correlation

The correlation between ETU and BTCL is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (All Time) Calculated using the full available price history since Oct 25, 2024	0.81

The correlation between ETU and BTCL has been stable across timeframes, ranging from 0.81 to 0.87 - a consistent structural relationship.

Return for Risk

ETU vs. BTCL — Risk / Return Rank

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

ETU

ETU Risk / Return Rank: 4
ETU Sharpe Ratio Rank: 4
ETU Sortino Ratio Rank: 5
ETU Omega Ratio Rank: 5
ETU Calmar Ratio Rank: 2
ETU Martin Ratio Rank: 3

BTCL

BTCL Risk / Return Rank: 2
BTCL Sharpe Ratio Rank: 2
BTCL Sortino Ratio Rank: 1
BTCL Omega Ratio Rank: 2
BTCL Calmar Ratio Rank: 1
BTCL 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.

ETU vs. BTCL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Long Ether Daily Target ETF (ETU) and T-REX 2X Long Bitcoin Daily Target ETF (BTCL). 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.

	ETU	BTCL	Difference
Sharpe ratio: Return per unit of total volatility	-0.56	-0.86	+0.30
Sortino ratio: Return per unit of downside risk	-0.50	-1.53	+1.03
Omega ratio: Gain probability vs. loss probability	0.94	0.83	+0.11
Calmar ratio: Return relative to maximum drawdown	-0.83	-0.93	+0.10
Martin ratio: Return relative to average drawdown	-1.21	-1.48	+0.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETU vs. BTCL - Sharpe Ratio Comparison

The current ETU Sharpe Ratio is -0.56, which is higher than the BTCL Sharpe Ratio of -0.86. The chart below compares the historical Sharpe Ratios of ETU and BTCL, 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

	ETU	BTCL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.56	-0.86	+0.30
Sharpe Ratio (All Time) Calculated using the full available price history	-0.47	-0.28	-0.19

Drawdowns

ETU vs. BTCL - Drawdown Comparison

The maximum ETU drawdown since its inception was -93.19%, which is greater than BTCL's maximum drawdown of -80.75%. Use the drawdown chart below to compare losses from any high point for ETU and BTCL.

Drawdown Indicators

	ETU	BTCL	Difference
Max Drawdown Largest peak-to-trough decline	-93.19%	-80.75%	-12.44%
Max Drawdown (1Y) Largest decline over 1 year	-91.69%	-80.75%	-10.94%
Current Drawdown Current decline from peak	-93.19%	-80.75%	-12.44%
Average Drawdown Average peak-to-trough decline	-62.47%	-34.25%	-28.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	62.34%	50.74%	+11.60%

Volatility

ETU vs. BTCL - Volatility Comparison

T-Rex 2X Long Ether Daily Target ETF (ETU) has a higher volatility of 20.14% compared to T-REX 2X Long Bitcoin Daily Target ETF (BTCL) at 18.49%. This indicates that ETU's price experiences larger fluctuations and is considered to be riskier than BTCL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETU	BTCL	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.14%	18.49%	+1.65%
Volatility (6M) Calculated over the trailing 6-month period	91.27%	68.72%	+22.55%
Volatility (1Y) Calculated over the trailing 1-year period	136.32%	87.41%	+48.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	145.77%	97.85%	+47.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	145.77%	97.85%	+47.92%

ETU vs. BTCL - Expense Ratio Comparison

Both ETU and BTCL have an expense ratio of 0.95%.

Dividends

ETU vs. BTCL - Dividend Comparison

ETU's dividend yield for the trailing twelve months is around 0.01%, less than BTCL's 3.83% yield.

Position	TTM	2025	2024
BTCL T-REX 2X Long Bitcoin Daily Target ETF	3.83%	1.70%	4.35%
ETU T-Rex 2X Long Ether Daily Target ETF	0.01%	0.00%	0.05%

Frequently Asked Questions

Can I hold both ETU and BTCL in my portfolio?

ETU and BTCL have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETU or BTCL?

ETU has higher volatility (20.14%) compared to BTCL (18.49%). In terms of maximum drawdown, ETU dropped -93.19% vs BTCL's -80.75%.

Which ETF is better, ETU or BTCL?

On 1-year performance, BTCL leads with -74.96% vs -75.56% for ETU. Both ETFs have the same 0.95% expense ratio. On volatility, BTCL has been the lower-risk option at 18.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ETU or BTCL?

Over the 1-year period, BTCL has performed better with a -74.96% return vs -75.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ETU or BTCL?

ETU and BTCL have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, ETU or BTCL?

BTCL has the higher dividend yield at 3.83%, compared with 0.01% for ETU.

What is the main difference between ETU and BTCL?

They also come from different issuers: REX Shares and REX.

Which has better risk-adjusted returns?

ETU currently has the higher Sharpe Ratio (-0.56 vs -0.86), 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.