EVMU vs. BTCL

Last updated Jul 21, 2026

EVMU (Direxion Daily Ether Bull 2X ETF) and BTCL (T-REX 2X Long Bitcoin Daily Target ETF) are both Leveraged Cryptocurrency funds. Both are actively managed. Their correlation of 0.92 suggests significant overlap in exposure.

Performance

EVMU vs. BTCL - Performance Comparison

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

Returns By Period

EVMU

• 1D: 5.90%
• 1M: 19.91%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BTCL

• 1D: 2.83%
• 1M: 4.89%
• 6M: -62.30%
• YTD: -55.47%
• 1Y: -79.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EVMU vs. BTCL - Yearly Performance Comparison

	2026 (YTD)
EVMU Direxion Daily Ether Bull 2X ETF	-22.83%
BTCL T-REX 2X Long Bitcoin Daily Target ETF	-30.08%

Correlation

The correlation between EVMU and BTCL is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 27, 2026	0.92

Return for Risk

EVMU vs. BTCL — Risk / Return Rank

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

EVMU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

BTCL

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

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.

EVMU vs. BTCL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Ether Bull 2X ETF (EVMU) 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.

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.

	EVMU	BTCL	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.90	—
Sortino ratio: Return per unit of downside risk	—	-1.76	—
Omega ratio: Gain probability vs. loss probability	—	0.81	—
Calmar ratio: Return relative to maximum drawdown	—	-0.94	—
Martin ratio: Return relative to average drawdown	—	-1.36	—

Drawdowns

EVMU vs. BTCL - Drawdown Comparison

The maximum EVMU drawdown since its inception was -46.73%, smaller than the maximum BTCL drawdown of -84.01%. Use the drawdown chart below to compare losses from any high point for EVMU and BTCL.

Drawdown Indicators

	EVMU	BTCL	Difference
Max Drawdown Largest peak-to-trough decline	-46.73%	-84.01%	+37.28%
Max Drawdown (1Y) Largest decline over 1 year	—	-84.01%	—
Current Drawdown Current decline from peak	-22.83%	-80.64%	+57.81%
Average Drawdown Average peak-to-trough decline	-30.64%	-36.99%	+6.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	58.01%	—

Volatility

Volatility by Period

	EVMU	BTCL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	21.04%	—
Volatility (6M) Calculated over the trailing 6-month period	—	69.89%	—
Volatility (1Y) Calculated over the trailing 1-year period	124.60%	88.57%	+36.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	124.60%	96.85%	+27.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	124.60%	96.85%	+27.75%

Dividends

EVMU vs. BTCL - Dividend Comparison

EVMU's dividend yield for the trailing twelve months is around 0.23%, less than BTCL's 3.81% yield.

Position	TTM	2025	2024
BTCL T-REX 2X Long Bitcoin Daily Target ETF	3.81%	1.70%	4.35%
EVMU Direxion Daily Ether Bull 2X ETF	0.23%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EVMU and BTCL in my portfolio?

With a correlation of 0.92, EVMU and BTCL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

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

BTCL has the higher dividend yield at 3.81%, compared with 0.23% for EVMU.

What is the main difference between EVMU and BTCL?

They also come from different issuers: Direxion and REX.