SMHB vs. CRMG

Last updated Jun 24, 2026

SMHB (ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B) and CRMG (Leverage Shares 2X Long CRM Daily ETF) are both Leveraged Equities funds. SMHB is passively managed, while CRMG is actively managed. Over the past year, SMHB returned 5.50% vs -73.99% for CRMG. At a 0.26 correlation, their price movements are largely independent. SMHB charges 0.85%/yr vs 0.75%/yr for CRMG.

Performance

SMHB vs. CRMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B (SMHB) and Leverage Shares 2X Long CRM Daily ETF (CRMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMHB achieves a 7.31% return, which is significantly higher than CRMG's -71.26% return.

SMHB

• 1D: 1.24%
• 1M: 0.69%
• YTD: 7.31%
• 6M: 8.42%
• 1Y: 5.50%
• 3Y*: 9.13%
• 5Y*: -6.82%
• 10Y*: —

CRMG

• 1D: 4.23%
• 1M: -29.64%
• YTD: -71.26%
• 6M: -71.01%
• 1Y: -73.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMHB vs. CRMG - Yearly Performance Comparison

	2026 (YTD)	2025
SMHB ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B	7.31%	3.20%
CRMG Leverage Shares 2X Long CRM Daily ETF	-71.26%	-0.29%

Correlation

The correlation between SMHB and CRMG is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (All Time) Calculated using the full available price history since Apr 4, 2025	0.26

Return for Risk

SMHB vs. CRMG — Risk / Return Rank

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

SMHB

SMHB Risk / Return Rank: 11
SMHB Sharpe Ratio Rank: 11
SMHB Sortino Ratio Rank: 12
SMHB Omega Ratio Rank: 11
SMHB Calmar Ratio Rank: 11
SMHB Martin Ratio Rank: 11

CRMG

CRMG Risk / Return Rank: 1
CRMG Sharpe Ratio Rank: 1
CRMG Sortino Ratio Rank: 1
CRMG Omega Ratio Rank: 1
CRMG Calmar Ratio Rank: 1
CRMG Martin Ratio Rank: 0

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.

SMHB vs. CRMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B (SMHB) and Leverage Shares 2X Long CRM Daily ETF (CRMG). 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.

	SMHB	CRMG	Difference
Sharpe ratio: Return per unit of total volatility	0.14	-0.97	+1.12
Sortino ratio: Return per unit of downside risk	0.48	-1.82	+2.30
Omega ratio: Gain probability vs. loss probability	1.06	0.79	+0.26
Calmar ratio: Return relative to maximum drawdown	0.22	-0.97	+1.18
Martin ratio: Return relative to average drawdown	0.53	-1.70	+2.23

SMHB vs. CRMG - Sharpe Ratio Comparison

The current SMHB Sharpe Ratio is 0.14, which is higher than the CRMG Sharpe Ratio of -0.97. The chart below compares the historical Sharpe Ratios of SMHB and CRMG, 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

SMHB vs. CRMG - Drawdown Comparison

The maximum SMHB drawdown since its inception was -90.30%, which is greater than CRMG's maximum drawdown of -79.83%. Use the drawdown chart below to compare losses from any high point for SMHB and CRMG.

Drawdown Indicators

	SMHB	CRMG	Difference
Max Drawdown Largest peak-to-trough decline	-90.30%	-79.83%	-10.47%
Max Drawdown (1Y) Largest decline over 1 year	-25.16%	-76.80%	+51.64%
Max Drawdown (3Y) Largest decline over 3 years	-45.05%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-58.11%	—	—
Current Drawdown Current decline from peak	-40.93%	-78.97%	+38.04%
Average Drawdown Average peak-to-trough decline	-37.21%	-39.18%	+1.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.47%	43.41%	-32.94%

Volatility

SMHB vs. CRMG - Volatility Comparison

The current volatility for ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B (SMHB) is 8.17%, while Leverage Shares 2X Long CRM Daily ETF (CRMG) has a volatility of 32.53%. This indicates that SMHB experiences smaller price fluctuations and is considered to be less risky than CRMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMHB	CRMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.17%	32.53%	-24.36%
Volatility (6M) Calculated over the trailing 6-month period	24.75%	63.74%	-38.99%
Volatility (1Y) Calculated over the trailing 1-year period	38.33%	76.12%	-37.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.92%	75.39%	-26.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.13%	75.39%	-9.26%

SMHB vs. CRMG - Expense Ratio Comparison

SMHB has a 0.85% expense ratio, which is higher than CRMG's 0.75% expense ratio.

Dividends

SMHB vs. CRMG - Dividend Comparison

SMHB's dividend yield for the trailing twelve months is around 21.04%, while CRMG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CRMG Leverage Shares 2X Long CRM Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SMHB ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN Series B	21.04%	22.22%	21.95%	15.27%	24.18%	12.22%	16.86%	19.97%	0.91%

Frequently Asked Questions

Can I hold both SMHB and CRMG in my portfolio?

SMHB and CRMG have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMHB or CRMG?

CRMG has higher volatility (32.53%) compared to SMHB (8.17%). In terms of maximum drawdown, SMHB dropped -90.30% vs CRMG's -79.83%.

Which ETF is better, SMHB or CRMG?

On 1-year performance, SMHB leads with 5.50% vs -73.99% for CRMG. On fees, CRMG is cheaper at 0.75% per year. On volatility, SMHB has been the lower-risk option at 8.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMHB or CRMG?

Over the 1-year period, SMHB has performed better with a 5.50% return vs -73.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMHB or CRMG?

CRMG is cheaper with a 0.75% expense ratio, compared with 0.85% for SMHB.

Which ETF pays a higher dividend yield, SMHB or CRMG?

SMHB has the higher dividend yield at 21.04%, compared with 0.00% for CRMG.

What is the main difference between SMHB and CRMG?

They also come from different issuers: UBS and Leverage Shares. Their fees differ too: 0.85% for SMHB and 0.75% for CRMG.

Which has better risk-adjusted returns?

SMHB currently has the higher Sharpe Ratio (0.14 vs -0.97), 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.