- ISIN
- US02072Q8208
- CUSIP
- 02072Q820
- Issuer
- Militia Investments
- Inception Date
- Jan 14, 2025
- Region
- Global (Broad)
- Category
- Long-Short
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Accumulating
- Asset Class
- Equity
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $139M
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
ORR Performance Chart
Militia Long/Short Equity ETF (ORR) is up 7.0% since the beginning of the year. ORR is currently trading at $37 per share.
Loading charts...
Returns By Period
Militia Long/Short Equity ETF (ORR) has returned 7.03% so far this year and 27.61% over the past 12 months.
Militia Long/Short Equity ETF
- 1D
- -1.38%
- 1M
- 0.94%
- YTD
- 7.03%
- 6M
- 7.80%
- 1Y
- 27.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
ORR Monthly Returns History
Based on dividend-adjusted daily data since Jan 15, 2025, ORR's average daily return is +0.10%, while the average monthly return is +1.99%. At this rate, an investment would double in approximately 2.9 years.
Historically, 78% of months were positive and 22% were negative. The best month was Feb 2026 with a return of +7.1%, while the worst month was Mar 2026 at -6.7%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 3 months.
On a daily basis, ORR closed higher 56% of trading days. The best single day was Apr 9, 2025 with a return of +6.1%, while the worst single day was Apr 10, 2025 at -5.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 6.79% | 7.13% | -6.73% | -1.15% | -0.42% | 1.90% | 7.03% | ||||||
| 2025 | 3.22% | 1.16% | 3.01% | -1.27% | 2.24% | 4.19% | 3.91% | 1.80% | 1.62% | 0.12% | 6.62% | 1.67% | 31.99% |
Benchmark Metrics
Militia Long/Short Equity ETF has an annualized alpha of 17.19%, beta of 0.51, and R2 of 0.34 versus S&P 500 Index. Calculated based on daily prices since January 15, 2025.
- This ETF captured 65.33% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -48.39%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.51 may look defensive, but with R2 of 0.34 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.34 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 17.19%
- Beta
- 0.51
- R²
- 0.34
- Upside Capture
- 65.33%
- Downside Capture
- -48.39%
Expense Ratio
ORR has a high expense ratio of 14.19%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
ORR ranks 56 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Militia Long/Short Equity ETF (ORR) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ORR | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.37 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.80 | 2.78 | +0.02 |
| Martin ratioReturn relative to average drawdown | 6.88 | 12.44 | -5.56 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Loading charts...
Worst Drawdowns
The table below displays the maximum drawdowns of the Militia Long/Short Equity ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Militia Long/Short Equity ETF was 9.90%, occurring on Jun 10, 2026. The portfolio has not yet recovered.
The current Militia Long/Short Equity ETF drawdown is 6.45%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 pullback2026 | -9.90%Jun 2026 | 3mo 10d | — | 3mo 23dMar 2026 - now |
2025 selloff2025 | -8.64%Apr 2025 | 13d | 1mo 29d | 2mo 12dMar 2025 - Jun 2025 |
2025 pullback2025 | -4.52%Oct 2025 | 23d | 1mo 1d | 1mo 24dSep 2025 - Nov 2025 |
2025 pullback2025 | -2.78%Aug 2025 | 8d | 12d | 20dAug 2025 - Sep 2025 |
2025 pullback2025 | -2.39%Jul 2025 | 18d | 5d | 23dJun 2025 - Jul 2025 |
Drawdown Indicators
| ORR | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.90% | -56.78% | +46.88% |
Max Drawdown (1Y)Largest decline over 1 year | -9.90% | -9.10% | -0.80% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -6.45% | -1.80% | -4.65% |
Average DrawdownAverage peak-to-trough decline | -2.36% | -10.71% | +8.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.02% | 2.03% | +1.99% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with ORR
Add Militia Long/Short Equity ETF to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with ORR