SMU vs. CWVX

Last updated Aug 1, 2026

SMU (Tradr 2X Long SMR Daily ETF) and CWVX (Tradr 2X Long CRWV Daily ETF) are both Leveraged Equities funds from Tradr. Both are actively managed. Over the past year, SMU returned -98.97% vs -83.03% for CWVX. Their 0.40 correlation means their historical movements had little consistent relationship. Both charge a 1.30% expense ratio.

Performance

SMU vs. CWVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long SMR Daily ETF (SMU) and Tradr 2X Long CRWV Daily ETF (CWVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMU achieves a -82.38% return, which is significantly lower than CWVX's -45.27% return.

SMU

• 1D: -4.21%
• 1M: -31.75%
• 6M: -87.18%
• YTD: -82.38%
• 1Y: -98.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -98.16%

CWVX

• 1D: -5.82%
• 1M: -30.81%
• 6M: -65.40%
• YTD: -45.27%
• 1Y: -83.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -88.55%

*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)
CWVX Tradr 2X Long CRWV Daily ETF	$16.79M	$16.48M	$36.04M
SMU Tradr 2X Long SMR Daily ETF	$8.65M	$9.72M	$17.75M

SMU vs. CWVX - Yearly Performance Comparison

	2026 (YTD)	2025
SMU Tradr 2X Long SMR Daily ETF	-82.38%	-91.57%
CWVX Tradr 2X Long CRWV Daily ETF	-45.27%	-81.40%

Correlation

The correlation between SMU and CWVX is 0.45, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.45
Correlation (All Time) Calculated using the full available price history since Jul 11, 2025	0.40

Return for Risk

SMU vs. CWVX — Risk / Return Rank

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

SMU

SMU Risk / Return Rank: 2
SMU Sharpe Ratio Rank: 5
SMU Sortino Ratio Rank: 1
SMU Omega Ratio Rank: 1
SMU Calmar Ratio Rank: 0
SMU Martin Ratio Rank: 3

CWVX

CWVX Risk / Return Rank: 6
CWVX Sharpe Ratio Rank: 6
CWVX Sortino Ratio Rank: 9
CWVX Omega Ratio Rank: 9
CWVX Calmar Ratio Rank: 1
CWVX Martin Ratio Rank: 3

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.

SMU vs. CWVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long SMR Daily ETF (SMU) and Tradr 2X Long CRWV Daily ETF (CWVX). 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.

	SMU	CWVX	Difference
Sharpe ratio: Return per unit of total volatility	-0.49	-0.45	-0.05
Sortino ratio: Return per unit of downside risk	-1.98	-0.06	-1.92
Omega ratio: Gain probability vs. loss probability	0.80	0.99	-0.20
Calmar ratio: Return relative to maximum drawdown	-1.00	-0.92	-0.08
Martin ratio: Return relative to average drawdown	-1.18	-1.19	0.00

SMU vs. CWVX - Sharpe Ratio Comparison

The current SMU Sharpe Ratio is -0.49, which is comparable to the CWVX Sharpe Ratio of -0.45. The chart below compares the historical Sharpe Ratios of SMU and CWVX, 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

SMU vs. CWVX - Drawdown Comparison

The maximum SMU drawdown since its inception was -99.39%, which is greater than CWVX's maximum drawdown of -93.85%. Use the drawdown chart below to compare losses from any high point for SMU and CWVX.

Drawdown Indicators

	SMU	CWVX	Difference
Max Drawdown Largest peak-to-trough decline	-99.39%	-93.85%	-5.54%
Max Drawdown (1Y) Largest decline over 1 year	-99.27%	-93.85%	-5.42%
Current Drawdown Current decline from peak	-99.25%	-91.74%	-7.51%
Average Drawdown Average peak-to-trough decline	-79.07%	-67.33%	-11.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	85.27%	72.12%	+13.15%

Volatility

SMU vs. CWVX - Volatility Comparison

The current volatility for Tradr 2X Long SMR Daily ETF (SMU) is 52.39%, while Tradr 2X Long CRWV Daily ETF (CWVX) has a volatility of 62.07%. This indicates that SMU experiences smaller price fluctuations and is considered to be less risky than CWVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMU	CWVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	52.39%	62.07%	-9.68%
Volatility (6M) Calculated over the trailing 6-month period	134.27%	138.54%	-4.27%
Volatility (1Y) Calculated over the trailing 1-year period	200.59%	194.23%	+6.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	200.68%	192.08%	+8.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	200.68%	192.08%	+8.60%

SMU vs. CWVX - Expense Ratio Comparison

Both SMU and CWVX have an expense ratio of 1.30%.

Dividends

SMU vs. CWVX - Dividend Comparison

SMU has not paid dividends to shareholders, while CWVX's dividend yield for the trailing twelve months is around 3.83%.

Position	TTM	2025
CWVX Tradr 2X Long CRWV Daily ETF	3.83%	2.10%
SMU Tradr 2X Long SMR Daily ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both SMU and CWVX in my portfolio?

SMU and CWVX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMU or CWVX?

CWVX has higher volatility (62.07%) compared to SMU (52.39%). In terms of maximum drawdown, SMU dropped -99.39% vs CWVX's -93.85%.

Which ETF is better, SMU or CWVX?

On 1-year performance, CWVX leads with -83.03% vs -98.97% for SMU. Both ETFs have the same 1.30% expense ratio. On volatility, SMU has been the lower-risk option at 52.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMU or CWVX?

Over the 1-year period, CWVX has performed better with a -83.03% return vs -98.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMU or CWVX?

SMU and CWVX have the same expense ratio: 1.30% per year.

Which ETF pays a higher dividend yield, SMU or CWVX?

CWVX has the higher dividend yield at 3.83%, compared with 0.00% for SMU.

Which has better risk-adjusted returns?

CWVX currently has the higher Sharpe Ratio (-0.45 vs -0.49), 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.