ETF Evaluator:
2x Cardano ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Digital Assets Over the Last Year
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Risk
Index
Risk
Index
ETF Details
2x Cardano ETF Overview
2x Cardano ETF (CRDX) is an actively managed Miscellaneous Digital Assets exchange-traded fund (ETF). Volatility Shares LLC launched the ETF in 2026.
The investment seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of ADA.
The fund is an exchange-traded fund (“ETF”) that seeks to achieve its investment objective primarily through managed exposure to ADA futures contracts that trade only on an exchange registered with the CFTC, and cash, cash-like instruments or high-quality securities that serve as collateral to the fund’s investments in ADA Futures Contracts. In this manner, the fund seeks to provide investment results that correspond to twice the performance of the price of ADA for a single day. It is non-diversified.
About 2x Cardano ETF (CRDX)
There are 3 members of the management team with an average tenure of 0.33 years: Charles Lowery (2026), Anand Desai (2026) and Dustin Shidaker (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
2x Cardano ETF has 6 securities in its portfolio. The top 10 holdings constitute 0.0% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
2x Cardano ETF is part of the Other global asset class and is within the Miscellaneous ETF group. 2x Cardano ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). 2x Cardano ETF has 5.8% of the portfolio in cash.
Assets Under Management
The fund has $817 million in total assets, which is below the $564 million average for the Digital Assets category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
CRDX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The 2x Cardano ETF expense ratio is high compared to funds in the Digital Assets category. 2x Cardano ETF has an expense ratio of 1.85%, which is 91% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. 2x Cardano ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 82% for the Digital Assets category.
Recently, in the month of July 2026, 2x Cardano ETF returned 23.5%, which earned it a grade of A, as the Digital Assets category had an average return of 2.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
2x Cardano ETF has a trailing yield of 0.00%, which is below the 15.12% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
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CRDX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| CRDX Return (NAV) | 23.5% | -63.2% | na | na | na | na |
| CRDX Return (Price) | 23.4% | -63.1% | na | na | na | na |
| NAV +/- Price Return | 0.107% | -0.106% | na | na | na | na |
| Digital Assets Avg | 2.9% | -16.7% | -32.2% | 6.2% | -17.1% | 54.9% |
| CRDX Grade (NAV) | A | F | na | na | na | na |
| +/- Category (NAV) | 20.6% | -46.5% | na | na | na | na |
| CRDX Tax-Cost Ratio | na | na | na | na | na | na |
CRDX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CRDX Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| CRDX Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| Digital Assets Avg | -30.7% | -9.9% | 65.8% | 127.8% | -72.3% | 199.4% | 175.1% | 11.8% | -81.4% | 1391.4% | 119.9% |
| CRDX Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 1 Mil |
| Share Class Assets: | $ 1 Mil |
| Turnover: | na |
| Expense Ratio: | 1.85% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | Yes |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 0.3 years | |||
| Average Tenure: 0.3 years | |||
| Managers (Year): Lowery Charles (2026), Desai Anand (2026), Shidaker Dustin (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 6 |
| % in Top 10 Holdings: | 0.0% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 94.2% |
| Cash: | 5.8% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Volatility Shares LLC |
| Phone Number: | 866-261-0273 |
| Website: | |
| Inception Date: | March 31, 2026 |
Expenses and Fees
| Expense Ratio (%): | 1.85% (Rating: High) |
| Category Average Expense Ratio (%): | 0.97% |
