NIOG vs. CCUP

Last updated Jun 4, 2026

NIOG (Leverage Shares 2X Long NIO Daily ETF) and CCUP (T-REX 2X Long CRCL Daily Target ETF) are both Leveraged Equities funds. NIOG is passively managed, while CCUP is actively managed. At a 0.18 correlation, their price movements are largely independent. NIOG charges 0.75%/yr vs 1.50%/yr for CCUP.

Performance

NIOG vs. CCUP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long NIO Daily ETF (NIOG) and T-REX 2X Long CRCL Daily Target ETF (CCUP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NIOG achieves a 5.09% return, which is significantly higher than CCUP's -20.97% return.

NIOG

• 1D: -8.37%
• 1M: -14.00%
• YTD: 5.09%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CCUP

• 1D: -20.05%
• 1M: -47.47%
• YTD: -20.97%
• 6M: -36.36%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NIOG vs. CCUP - Yearly Performance Comparison

	2026 (YTD)	2025
NIOG Leverage Shares 2X Long NIO Daily ETF	5.09%	5.33%
CCUP T-REX 2X Long CRCL Daily Target ETF	-20.97%	-5.45%

Correlation

The correlation between NIOG and CCUP is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 19, 2025	0.18

Return for Risk

NIOG vs. CCUP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long NIO Daily ETF (NIOG) and T-REX 2X Long CRCL Daily Target ETF (CCUP). 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.

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

Sharpe Ratios by Period

	NIOG	CCUP	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	-0.47	+0.68

Drawdowns

NIOG vs. CCUP - Drawdown Comparison

The maximum NIOG drawdown since its inception was -45.19%, smaller than the maximum CCUP drawdown of -93.74%. Use the drawdown chart below to compare losses from any high point for NIOG and CCUP.

Drawdown Indicators

	NIOG	CCUP	Difference
Max Drawdown Largest peak-to-trough decline	-45.19%	-93.74%	+48.55%
Current Drawdown Current decline from peak	-34.15%	-86.98%	+52.83%
Average Drawdown Average peak-to-trough decline	-19.65%	-69.18%	+49.53%

Volatility

Volatility by Period

	NIOG	CCUP	Difference
Volatility (1Y) Calculated over the trailing 1-year period	120.05%	197.62%	-77.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	120.05%	197.62%	-77.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	120.05%	197.62%	-77.57%

NIOG vs. CCUP - Expense Ratio Comparison

NIOG has a 0.75% expense ratio, which is lower than CCUP's 1.50% expense ratio.

Dividends

NIOG vs. CCUP - Dividend Comparison

Neither NIOG nor CCUP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both NIOG and CCUP in my portfolio?

NIOG and CCUP have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NIOG or CCUP?

On fees, NIOG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NIOG or CCUP?

NIOG is cheaper with a 0.75% expense ratio, compared with 1.50% for CCUP.

Which ETF pays a higher dividend yield, NIOG or CCUP?

NIOG and CCUP have nearly identical dividend yields, around 0.00%.

What is the main difference between NIOG and CCUP?

They also come from different issuers: Leverage Shares and T-Rex. Their fees differ too: 0.75% for NIOG and 1.50% for CCUP.