Which came closer to its stated multiple, ORAC or ORCS?

Over the window to Sep 11, 2026, ORAC finished 1.4 points from what its multiple implies and ORCS finished 3.5 points from its own, so ORAC came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are ORAC and ORCS levered on the same thing?

Yes. Both are levered on ORCL, ORAC at +2 times and ORCS at -1 times the daily move.

Which one decays faster, ORAC or ORCS?

Decay follows how much the underlying moves about. Over this window ORAC’s moved at 47% annualized and ORCS’s at 56%, so ORCS has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold ORAC or ORCS for a year?

Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.

ETFIQetfiq.com · independent ETF data

Data as of Sep 11, 2026.

ORAC vs ORCS: which held to its multiple?

Over a month against its own daily promise, ORAC finished 0.3 points over and ORCS 0.3 points over.

Corgi ORCL 2x Daily ETF and Direxion Daily ORCL Bear 1X ETF, side by side, leveraged ETFs on ETFIQ.

−3.0%ORAC returned, 3 months

+14.6%ORCS returned, 3 months

−8.8 ptsORAC from its stated multiple

−3.5 ptsORCS from its stated multiple

ORAC1.4 pts short of its label · 1 month to Sep 11, 2026

ORCS3.5 pts short of its label · 3 months to Sep 11, 2026

Performance, window by window

ORAC and ORCS over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ.
Window	Total return		Multiple would give		Difference
Window	ORAC	ORCS	ORAC	ORCS	ORAC	ORCS
1 month	−5.3%	+0.4%	−3.9%	+2.0%	−1.4 pts	−1.6 pts
3 months	not published	+14.6%	not published	+18.1%	not published	−3.5 pts
6 months	not published	−12.4%	not published	+2.4%	not published	−14.8 pts
Since launch	−3.0%	+17.9%	+5.8%	+32.7%	−8.8 pts	−14.8 pts

Open the live comparison on ETFIQ

ORAC and ORCS on the same fields, as of Sep 11, 2026. Source: ETFIQ.
	ORAC Corgi ORCL 2x Daily ETF Aims to return twice the daily move of ORCL	ORCS Direxion Daily ORCL Bear 1X ETF Aims to return 1 times the opposite of the daily move of ORCL
Issuer	Corgi	Direxion
Sets out to return	+2x	-1x
On	ORCL	ORCL
Segment	company	company
Fund returned, 3 months	−5.3%	+14.6%
Underlying returned, 3 months	−2.0%	−18.1%
What the stated multiple implies, 3 months	−3.9%	+18.1%
Difference from stated, 3 months	−1.4 pts	−3.5 pts
Fund returned, 1 year or since launch	−3.0%	+17.9%
Difference from stated, over that window	−8.8 pts	−14.8 pts
Underlying volatility	47%	56%
Difference over the days both have traded	−1.4 pts	no shared window
Expense ratio	not published	not published
Launched	Jun 30, 2026	Nov 19, 2025

ORAC in plain words

One month to Sep 11, 2026: ORAC returned −5.3% where its own daily promise gave −5.7%, 0.3 points over. Read the multiple against the whole window instead and +2 times ORCL's −2.0% implies −3.9%, which makes ORAC look 1.4 points short. 1.7 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. ORAC aims to return +2 times ORCL's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. ORCL moved at 47% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.

ORCS in plain words

Three months to Sep 11, 2026: ORCS returned +14.6% where its own daily promise gave +13.0%, 1.5 points over. Read the multiple against the whole window instead and −1 times ORCL's −18.1% implies +18.1%, which makes ORCS look 3.5 points short. 5.1 of that is daily compounding, which happens to any −1 times fund over the same path, and the rest is the fund. ORCS aims to return -1 times ORCL's move each day, then resets. Over longer, the daily results compound, so the total is not -1 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. ORCL moved at 56% annualized over that window.

Questions people ask

Which came closer to its stated multiple, ORAC or ORCS?: Over the window to Sep 11, 2026, ORAC finished 1.4 points from what its multiple implies and ORCS finished 3.5 points from its own, so ORAC came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are ORAC and ORCS levered on the same thing?: Yes. Both are levered on ORCL, ORAC at +2 times and ORCS at -1 times the daily move.
Which one decays faster, ORAC or ORCS?: Decay follows how much the underlying moves about. Over this window ORAC’s moved at 47% annualized and ORCS’s at 56%, so ORCS has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold ORAC or ORCS for a year?: Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.

Other comparisons

Where these figures came from

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.

ORAC against ORCS, ETFIQ, data as of Sep 11, 2026. Every figure is arithmetic on a named public source; the method is at etfiq.com/methodology. A comparison is not a recommendation.

Cite this page. ETFIQ, ORAC against ORCS, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/ORAC-ORCS Free to use with attribution; the underlying files are at Open data.

How every figure is computed · Standards and sources