Which came closer to its stated multiple, ORCU or ORCX?

Over the window to Sep 30, 2026, ORCU finished 9.5 points from what its multiple implies and ORCX finished 9.7 points from its own, so ORCU came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are ORCU and ORCX levered on the same thing?

Yes. Both are levered on Oracle, ORCU at +2 times and ORCX at +2 times the daily move.

Which one decays faster, ORCU or ORCX?

Decay follows how much the underlying moves about. Over this window ORCU’s moved at 54% annualized and ORCX’s at 54%, so ORCU has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold ORCU or ORCX 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.

Which is cheaper, ORCU or ORCX?

ORCU charges 0.97% a year and ORCX charges 1.31%, so ORCU is cheaper. Fees come from each fund's prospectus.

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ORCU vs ORCX: which held to its multiple?

Over the days both have traded, ORCU finished 9.5 points from its stated multiple and ORCX 9.7. Direxion Daily ORCL Bull 2X ETF and Defiance Daily Target 2X Long ORCL ETF.

−16.2%

ORCU returned, 3 months

−16.3%

ORCX returned, 3 months

−9.5 pts

ORCU from its stated multiple

−9.7 pts

ORCX from its stated multiple

ORCU · 3 months to Sep 30, 20269.5 pts short of its stated multiple

ORCU returned −16.2% while 2 times ORCL's move would have been −6.6%

ORCX · 3 months to Sep 30, 20269.7 pts short of its stated multiple

ORCX returned −16.3% while 2 times ORCL's move would have been −6.6%

ETFIQ Decay Resistance Score · ORCU scores higherDid it keep up with its own daily multiple, compounded day by day?

ORCU 39

ORCX 35

0.1, the lowest in this set99.9, the highest

A percentile among the 470 leveraged ETFs, long, over three months. 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	ORCU	ORCX	ORCU	ORCX	ORCU	ORCX
1 month	−17.8%	−18.0%	−15.9%	−15.9%	−2.0 pts	−2.1 pts
3 months	−16.2%	−16.3%	−6.6%	−6.6%	−9.5 pts	−9.7 pts
6 months	−28.6%	−29.6%	−9.6%	−9.6%	−19.1 pts	−20.0 pts
1 year	not published	−84.6%	not published	−101.2%	not published	+16.6 pts
Since launch ORCU Nov 2025 · ORCX Feb 2025	−74.4%	−70.2%	−77.1%	−39.9%	+2.6 pts	−30.4 pts

ORCU and ORCX over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

ORCU

Direxion Daily ORCL Bull 2X ETF · Aims to return twice the daily move of Oracle (ORCL)

ORCX

Defiance Daily Target 2X Long ORCL ETF · Aims to return twice the daily move of Oracle (ORCL)

Issuer Direxion Defiance

Sets out to return +2x +2x

Underlying asset ORCL ORCL

Segment company company

Fund returned, 3 months or since launch −16.2% −16.3%

Underlying returned, over that window −3.3% −3.3%

What the stated multiple implies, over that window −6.6% −6.6%

Difference from stated, over that window −9.5 pts −9.7 pts

Fund returned, 1 year or since launch −74.4% −84.6%

Difference from stated, over that window +2.6 pts +16.6 pts

Underlying volatility 54% 54%

Difference over the days both have traded −9.5 pts −9.7 pts

Expense ratio 0.97% 1.31%

Launched Nov 19, 2025 Feb 7, 2025

Net assets $157m $235m

ORCU and ORCX on the same fields, as of Sep 30, 2026. Source: ETFIQ.

ORCU in plain words

Three months to Sep 30, 2026: ORCU returned −16.2% where its own daily promise gave −13.1%, 3.1 points short. Read the multiple against the whole window instead and 2 times ORCL's −3.3% implies −6.6%, which makes ORCU 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. ORCU 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.

ORCX in plain words

Three months to Sep 30, 2026: ORCX returned −16.3% where its own daily promise gave −13.1%, 3.2 points short. Read the multiple against the whole window instead and 2 times ORCL's −3.3% implies −6.6%, which makes ORCX look 9.7 points short. ORCX aims to return +2 times ORCL's move each day, then resets.

Questions people ask

Which came closer to its stated multiple, ORCU or ORCX?: Over the window to Sep 30, 2026, ORCU finished 9.5 points from what its multiple implies and ORCX finished 9.7 points from its own, so ORCU came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are ORCU and ORCX levered on the same thing?: Yes. Both are levered on Oracle, ORCU at +2 times and ORCX at +2 times the daily move.
Which one decays faster, ORCU or ORCX?: Decay follows how much the underlying moves about. Over this window ORCU’s moved at 54% annualized and ORCX’s at 54%, so ORCU has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold ORCU or ORCX 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.
Which is cheaper, ORCU or ORCX?: ORCU charges 0.97% a year and ORCX charges 1.31%, so ORCU is cheaper. Fees come from each fund's prospectus.

Other comparisons

ORCU vs ORAC ORCU vs ORCS ORCU vs ORCZ ORCX vs ORAC ORCX vs ORCS ORCX vs ORCZ

ORCU on its own →ORCX on its own →How every figure is computed →Standards and sources →

Where these figures came from

ORCU filings on SEC EDGAR ↗ORCU prospectus with the expense ratio (SEC) ↗Direxion website ↗ORCX filings on SEC EDGAR ↗ORCX prospectus with the expense ratio (SEC) ↗Defiance page for ORCX ↗

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.

Cite this page

ETFIQ, ORCU against ORCX, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/orcu-vs-orcx

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.