FLYU vs. BTCL

Last updated Jul 17, 2026

FLYU (MicroSectors Travel 3X Leveraged ETNs) and BTCL (T-REX 2X Long Bitcoin Daily Target ETF) are both exchange-traded funds - FLYU is a Leveraged Equities fund tracking the MerQube MicroSectors U.S. Travel Index, while BTCL is a Leveraged Cryptocurrency fund actively managed by REX. FLYU is passively managed, while BTCL is actively managed. Over the past year, FLYU returned -16.46% vs -80.36% for BTCL. At a 0.36 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

FLYU vs. BTCL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Travel 3X Leveraged ETNs (FLYU) 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, FLYU achieves a -13.15% return, which is significantly higher than BTCL's -56.59% return.

FLYU

• 1D: 1.01%
• 1M: -4.58%
• 6M: -15.18%
• YTD: -13.15%
• 1Y: -16.46%
• 3Y*: 1.85%
• 5Y*: —
• 10Y*: —

BTCL

• 1D: -2.14%
• 1M: -6.38%
• 6M: -63.03%
• YTD: -56.59%
• 1Y: -80.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FLYU vs. BTCL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FLYU MicroSectors Travel 3X Leveraged ETNs	-13.15%	-2.29%	35.06%
BTCL T-REX 2X Long Bitcoin Daily Target ETF	-56.59%	-39.52%	101.29%

Correlation

The correlation between FLYU and BTCL is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (All Time) Calculated using the full available price history since Jul 10, 2024	0.36

Return for Risk

FLYU vs. BTCL — Risk / Return Rank

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

FLYU

FLYU Risk / Return Rank: 8
FLYU Sharpe Ratio Rank: 7
FLYU Sortino Ratio Rank: 10
FLYU Omega Ratio Rank: 9
FLYU Calmar Ratio Rank: 7
FLYU Martin Ratio Rank: 6

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.

FLYU vs. BTCL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Travel 3X Leveraged ETNs (FLYU) 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.

	FLYU	BTCL	Difference
Sharpe ratio: Return per unit of total volatility	-0.22	-0.91	+0.69
Sortino ratio: Return per unit of downside risk	0.19	-1.85	+2.04
Omega ratio: Gain probability vs. loss probability	1.02	0.80	+0.22
Calmar ratio: Return relative to maximum drawdown	-0.32	-0.96	+0.64
Martin ratio: Return relative to average drawdown	-0.64	-1.40	+0.76

FLYU vs. BTCL - Sharpe Ratio Comparison

The current FLYU Sharpe Ratio is -0.22, which is higher than the BTCL Sharpe Ratio of -0.91. The chart below compares the historical Sharpe Ratios of FLYU 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.

Drawdowns

FLYU vs. BTCL - Drawdown Comparison

The maximum FLYU drawdown since its inception was -69.00%, smaller than the maximum BTCL drawdown of -84.01%. Use the drawdown chart below to compare losses from any high point for FLYU and BTCL.

Drawdown Indicators

	FLYU	BTCL	Difference
Max Drawdown Largest peak-to-trough decline	-69.00%	-84.01%	+15.01%
Max Drawdown (1Y) Largest decline over 1 year	-52.33%	-84.01%	+31.68%
Max Drawdown (3Y) Largest decline over 3 years	-69.00%	—	—
Current Drawdown Current decline from peak	-31.11%	-81.13%	+50.02%
Average Drawdown Average peak-to-trough decline	-26.57%	-36.82%	+10.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.76%	57.56%	-31.80%

Volatility

FLYU vs. BTCL - Volatility Comparison

The current volatility for MicroSectors Travel 3X Leveraged ETNs (FLYU) is 18.87%, while T-REX 2X Long Bitcoin Daily Target ETF (BTCL) has a volatility of 21.40%. This indicates that FLYU experiences smaller price fluctuations and is considered to be less risky than BTCL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLYU	BTCL	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.87%	21.40%	-2.53%
Volatility (6M) Calculated over the trailing 6-month period	61.15%	70.39%	-9.24%
Volatility (1Y) Calculated over the trailing 1-year period	74.43%	88.52%	-14.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	82.97%	97.02%	-14.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	82.97%	97.02%	-14.05%

FLYU vs. BTCL - Expense Ratio Comparison

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

Dividends

FLYU vs. BTCL - Dividend Comparison

FLYU has not paid dividends to shareholders, while BTCL's dividend yield for the trailing twelve months is around 3.91%.

Position	TTM	2025	2024
BTCL T-REX 2X Long Bitcoin Daily Target ETF	3.91%	1.70%	4.35%
FLYU MicroSectors Travel 3X Leveraged ETNs	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FLYU and BTCL in my portfolio?

FLYU and BTCL have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLYU or BTCL?

BTCL has higher volatility (21.40%) compared to FLYU (18.87%). In terms of maximum drawdown, FLYU dropped -69.00% vs BTCL's -84.01%.

Which ETF is better, FLYU or BTCL?

On 1-year performance, FLYU leads with -16.46% vs -80.36% for BTCL. Both ETFs have the same 0.95% expense ratio. On volatility, FLYU has been the lower-risk option at 18.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLYU or BTCL?

Over the 1-year period, FLYU has performed better with a -16.46% return vs -80.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLYU or BTCL?

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

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

BTCL has the higher dividend yield at 3.91%, compared with 0.00% for FLYU.

What is the main difference between FLYU and BTCL?

FLYU is categorized as Leveraged Equities, while BTCL is Leveraged Cryptocurrency.

Which has better risk-adjusted returns?

FLYU currently has the higher Sharpe Ratio (-0.22 vs -0.91), 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.