CORD -2x T-REX 2X Inverse CRWV Daily Target ETF

CORD

ETF -2x BEAR standard
T-REX 2X Inverse CRWV Daily Target ETF
Issuer: T-Rex · Tracks: CRWV · Listed: 2025-09-25
Implied AUM
$14.1M
Last Close
$9.03
20260720
30d Avg Vol
4,243,044
Options
available
Realized return vs theoretical -2x CRWV
Pair counterpart found: CRWG (+2x bull, Leverage Shares 2X Long CRWV Daily ETF)
Shorting both legs of a daily-reset bull/bear pair captures combined decay drift over time. Theoretical "free money" — actual edge depends on borrow rates (often punitive on the bear leg) and assignment risk on hard-to-borrow products.
Other leveraged products tracking CRWV
Symbol Factor Direction Issuer Name Implied AUM 30d Vol Options
CRWG +2x BULL Leverage Shares Leverage Shares 2X Long CRWV Daily ETF $112.1M 1,443,941
CWVX +2x BULL Tradr Tradr 2X Long CRWV Daily ETF $85.8M 1,070,917
CRWU +2x BULL T-Rex T-REX 2X Long CRWV Daily Target ETF $25.9M 3,870,652

How CORD works

CORD targets -2x the daily return of CRWV — not the cumulative return over multi-day windows. The fund rebalances at the close each day using swaps or futures, which is what creates the volatility drag the chart above visualizes.

Mathematical headline: drag ≈ −0.5 × N × (N−1) × σ² per period. For a -2x product on an underlying with 25% annualized vol, expected annual drag is around 6.2%. Add expense ratio and the realized number is typically worse.

  • Short-term tactical: daily and intraday holds are where these products were designed to live.
  • Premium selling: options on CORD carry very rich IV — see the quote page for IV rank and straddle pricing.
  • Multi-day directional: works in strong trends; gets eaten alive in chop. Use the chart above to gauge the realized vs theoretical track record.