ORAC vs ORCS: which held to its multiple?
Over three months against its own daily promise, ORAC finished 3.0 points short and ORCS 1.4 points over. Corgi ORCL 2x Daily ETF and Direxion Daily ORCL Bear 1X ETF.
ORAC returned −16.1% while 2 times ORCL's move would have been −6.6%
ORCS returned −2.6% while −1 times ORCL's move would have been +3.3%
ORAC among the 470 leveraged ETFs, long, over three months
ORCS among the 125 inverse ETFs over three months
A percentile among the 470 leveraged ETFs, long, over three months. ORCS is a percentile among the 125 inverse ETFs over three months, a different set, so the two marks are not on one scale. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it → How it is computed →
Performance, window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | ORAC | ORCS | ORAC | ORCS | ORAC | ORCS |
| 1 month | −18.0% | +6.7% | −15.9% | +7.9% | −2.1 pts | −1.3 pts |
| 3 months | −16.1% | −2.6% | −6.6% | +3.3% | −9.5 pts | −5.9 pts |
| 6 months | not published | −10.5% | not published | +4.8% | not published | −15.3 pts |
| Since launch ORAC Jun 2026 · ORCS Nov 2025 | −20.8% | +27.7% | −12.0% | +38.5% | −8.8 pts | −10.9 pts |
ORAC and ORCS over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
ORAC and ORCS on the same fields, as of Sep 30, 2026. Source: ETFIQ.
ORAC in plain words
Three months to Sep 30, 2026: ORAC returned −16.1% where its own daily promise gave −13.1%, 3.0 points short. Read the multiple against the whole window instead and 2 times ORCL's −3.3% implies −6.6%, which makes ORAC look 9.5 points short. 6.5 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 54% 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 30, 2026: ORCS returned −2.6% where its own daily promise gave −4.0%, 1.4 points over. Read the multiple against the whole window instead and −1 times ORCL's −3.3% implies +3.3%, which makes ORCS look 5.9 points short. 7.3 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.
Questions people ask
- Which came closer to its stated multiple, ORAC or ORCS?
- Over the window to Sep 30, 2026, ORAC finished 9.5 points from what its multiple implies and ORCS finished 5.9 points from its own, so ORCS 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 Oracle, 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 54% annualized and ORCS’s at 54%, so ORAC 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.
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.
ETFIQ, ORAC against ORCS, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/orac-vs-orcs
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, ORAC against ORCS, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/orac-vs-orcs Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, ORAC against ORCS, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/orac-vs-orcs
- APA
- ETFIQ. (Sep 30, 2026). ORAC against ORCS. Retrieved from https://etfiq.com/compare/leverage/orac-vs-orcs
- Markdown
- [ORAC against ORCS (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/orac-vs-orcs)