# ORCX (Defiance Daily Target 2X Long ORCL ETF)

Defiance · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: ORCX returned −16.3% where its own daily promise gave −13.1%, 3.2 points short.

## Key facts

- ORCX, what ORCL did: −3.3%, as of Sep 30, 2026.
- ORCX, what 2 times a day gives: −13.1%, as of Sep 30, 2026.
- ORCX, what the fund returned: −16.3%, as of Sep 30, 2026.
- ORCX, the fund itself cost: −3.2 pts, as of Sep 30, 2026.
- ORCX, net assets: $235m (the issuer’s own daily fund list, as of Sep 30, 2026).
- ORCX, expense ratio: 1.31% (485BPOS XBRL, Aug 28, 2026).

## ORCX over each window to Sep 30, 2026

| Window | Fund | ORCL | +2x the move | Difference | ORCL moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −18.0% | −7.9% | −15.9% | −2.1 pts | 52% |
| 3 months | −16.3% | −3.3% | −6.6% | −9.7 pts | 54% |
| 6 months | −29.6% | −4.8% | −9.6% | −20.0 pts | 61% |
| 1 year | −84.6% | −50.6% | −101.2% | +16.6 pts | 56% |
| Since launch | −70.2% | −19.9% | −39.9% | −30.4 pts | 60% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of ORCL, reset daily | ETFIQ |
| Multiple a holder actually got over the window | ORCL moved −3.3% over this window, too little to read a multiple from | ETFIQ |
| Underlying | ORCL | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $235m | the issuer’s own daily fund list, as of Sep 30, 2026 |
| Expense ratio | 1.31% | 485BPOS XBRL, Aug 28, 2026 |
| Launched | Feb 7, 2025 | ETFIQ |
| Underlying volatility over the window | 54% annualized | ETFIQ |

## Questions

### Did ORCX return +2 times ORCL?

Over the window to Sep 30, 2026, ORCL moved −3.3% and ORCX returned −16.3%. 2 times that move is −6.6%, so the fund came out 9.7 points short of it.

### Why does ORCX not return +2 times over a year?

Because it resets daily. ORCX aims at +2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.

### Which +2x ORCL ETF tracked its stated multiple most closely?

3 issuers sell one. Over the days all of them have been trading, the table on this page ranks them by how far each finished from 2 times the underlying's move. ETFIQ does not rate funds; the order is the figure itself.


## Cite this page

ETFIQ, ORCX, data as of Sep 30, 2026. https://etfiq.com/funds/orcx
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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