SEF vs. CRCD

Last updated Aug 2, 2026

SEF (ProShares Short Financials) and CRCD (T-REX 2X Inverse CRCL Daily Target ETF) are both Inverse Equities funds. SEF is passively managed, while CRCD is actively managed. Their 0.26 correlation means their historical movements had little consistent relationship. SEF charges 0.95%/yr vs 1.50%/yr for CRCD.

Performance

SEF vs. CRCD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short Financials (SEF) and T-REX 2X Inverse CRCL Daily Target ETF (CRCD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SEF achieves a -2.43% return, which is significantly higher than CRCD's -82.71% return.

SEF

• 1D: 0.04%
• 1M: -2.18%
• 6M: -5.14%
• YTD: -2.43%
• 1Y: -7.05%
• 3Y*: -11.58%
• 5Y*: -7.41%
• 10Y*: -12.37%
• ALL TIME*: -13.88%

CRCD

• 1D: 4.76%
• 1M: -8.47%
• 6M: -87.34%
• YTD: -82.71%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CRCD T-REX 2X Inverse CRCL Daily Target ETF	$6.16M	$8.34M	$16.64M
SEF ProShares Short Financials	$302.73K	$217.23K	$276.76K

SEF vs. CRCD - Yearly Performance Comparison

	2026 (YTD)	2025
SEF ProShares Short Financials	-2.43%	-1.48%
CRCD T-REX 2X Inverse CRCL Daily Target ETF	-82.71%	38.83%

Correlation

The correlation between SEF and CRCD is 0.26, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 26, 2025	0.26

Return for Risk

SEF vs. CRCD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SEF

SEF Risk / Return Rank: 6
SEF Sharpe Ratio Rank: 6
SEF Sortino Ratio Rank: 6
SEF Omega Ratio Rank: 6
SEF Calmar Ratio Rank: 6
SEF Martin Ratio Rank: 5

CRCD

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SEF vs. CRCD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short Financials (SEF) and T-REX 2X Inverse CRCL Daily Target ETF (CRCD). 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.

	SEF	CRCD	Difference
Sharpe ratio: Return per unit of total volatility	-0.37	—	—
Sortino ratio: Return per unit of downside risk	-0.45	—	—
Omega ratio: Gain probability vs. loss probability	0.95	—	—
Calmar ratio: Return relative to maximum drawdown	-0.34	—	—
Martin ratio: Return relative to average drawdown	-0.84	—	—

Drawdowns

SEF vs. CRCD - Drawdown Comparison

The maximum SEF drawdown since its inception was -96.53%, roughly equal to the maximum CRCD drawdown of -96.95%. Use the drawdown chart below to compare losses from any high point for SEF and CRCD.

Drawdown Indicators

	SEF	CRCD	Difference
Max Drawdown Largest peak-to-trough decline	-96.53%	-96.95%	+0.42%
Max Drawdown (1Y) Largest decline over 1 year	-15.98%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-39.77%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-41.98%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-73.36%	—	—
Current Drawdown Current decline from peak	-96.50%	-91.80%	-4.70%
Average Drawdown Average peak-to-trough decline	-82.82%	-61.66%	-21.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.40%	—	—

Volatility

Volatility by Period

	SEF	CRCD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.01%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.02%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.64%	198.91%	-184.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.91%	198.91%	-181.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.46%	198.91%	-178.45%

SEF vs. CRCD - Expense Ratio Comparison

SEF has a 0.95% expense ratio, which is lower than CRCD's 1.50% expense ratio.

Dividends

SEF vs. CRCD - Dividend Comparison

SEF's dividend yield for the trailing twelve months is around 3.44%, while CRCD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CRCD T-REX 2X Inverse CRCL Daily Target ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SEF ProShares Short Financials	3.44%	4.33%	5.72%	4.43%	0.39%	0.00%	0.12%	1.25%	0.41%

Frequently Asked Questions

Can I hold both SEF and CRCD in my portfolio?

SEF and CRCD have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SEF or CRCD?

On fees, SEF is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SEF or CRCD?

SEF is cheaper with a 0.95% expense ratio, compared with 1.50% for CRCD.

Which ETF pays a higher dividend yield, SEF or CRCD?

SEF has the higher dividend yield at 3.44%, compared with 0.00% for CRCD.

What is the main difference between SEF and CRCD?

They also come from different issuers: ProShares and T-Rex. Their fees differ too: 0.95% for SEF and 1.50% for CRCD.