AIBD vs. ORCS

Last updated Jul 17, 2026

AIBD (Direxion Daily AI and Big Data Bear 2X Shares) and ORCS (Direxion Daily ORCL Bear 1X ETF) are both Inverse Equities funds from Direxion. AIBD is passively managed, while ORCS is actively managed. A 0.67 correlation means they provide meaningful diversification when combined. AIBD charges 1.05%/yr vs 0.97%/yr for ORCS.

Performance

AIBD vs. ORCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily AI and Big Data Bear 2X Shares (AIBD) and Direxion Daily ORCL Bear 1X ETF (ORCS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIBD achieves a -26.00% return, which is significantly lower than ORCS's 32.39% return.

AIBD

• 1D: 5.39%
• 1M: 9.76%
• 6M: -24.63%
• YTD: -26.00%
• 1Y: -39.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ORCS

• 1D: 6.05%
• 1M: 48.21%
• 6M: 29.65%
• YTD: 32.39%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AIBD vs. ORCS - Yearly Performance Comparison

	2026 (YTD)	2025
AIBD Direxion Daily AI and Big Data Bear 2X Shares	-26.00%	-1.89%
ORCS Direxion Daily ORCL Bear 1X ETF	32.39%	11.07%

Correlation

The correlation between AIBD and ORCS is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 19, 2025	0.67

Return for Risk

AIBD vs. ORCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AIBD

AIBD Risk / Return Rank: 3
AIBD Sharpe Ratio Rank: 3
AIBD Sortino Ratio Rank: 4
AIBD Omega Ratio Rank: 4
AIBD Calmar Ratio Rank: 4
AIBD Martin Ratio Rank: 2

ORCS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AIBD vs. ORCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AI and Big Data Bear 2X Shares (AIBD) and Direxion Daily ORCL Bear 1X ETF (ORCS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	AIBD	ORCS	Difference
Sharpe ratio: Return per unit of total volatility	-0.72	—	—
Sortino ratio: Return per unit of downside risk	-0.91	—	—
Omega ratio: Gain probability vs. loss probability	0.90	—	—
Calmar ratio: Return relative to maximum drawdown	-0.68	—	—
Martin ratio: Return relative to average drawdown	-1.41	—	—

Drawdowns

AIBD vs. ORCS - Drawdown Comparison

The maximum AIBD drawdown since its inception was -82.11%, which is greater than ORCS's maximum drawdown of -50.25%. Use the drawdown chart below to compare losses from any high point for AIBD and ORCS.

Drawdown Indicators

	AIBD	ORCS	Difference
Max Drawdown Largest peak-to-trough decline	-82.11%	-50.25%	-31.86%
Max Drawdown (1Y) Largest decline over 1 year	-58.75%	—	—
Current Drawdown Current decline from peak	-77.48%	-5.29%	-72.19%
Average Drawdown Average peak-to-trough decline	-49.73%	-16.25%	-33.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.63%	—	—

Volatility

Volatility by Period

	AIBD	ORCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.87%	—	—
Volatility (6M) Calculated over the trailing 6-month period	42.24%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	54.86%	59.95%	-5.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	57.20%	59.95%	-2.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.20%	59.95%	-2.75%

AIBD vs. ORCS - Expense Ratio Comparison

AIBD has a 1.05% expense ratio, which is higher than ORCS's 0.97% expense ratio.

Dividends

AIBD vs. ORCS - Dividend Comparison

AIBD's dividend yield for the trailing twelve months is around 3.41%, more than ORCS's 1.08% yield.

Position	TTM	2025	2024
AIBD Direxion Daily AI and Big Data Bear 2X Shares	3.41%	4.37%	3.58%
ORCS Direxion Daily ORCL Bear 1X ETF	1.08%	0.26%	0.00%

Frequently Asked Questions

Can I hold both AIBD and ORCS in my portfolio?

AIBD and ORCS have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AIBD or ORCS?

On fees, ORCS is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AIBD or ORCS?

ORCS is cheaper with a 0.97% expense ratio, compared with 1.05% for AIBD.

Which ETF pays a higher dividend yield, AIBD or ORCS?

AIBD has the higher dividend yield at 3.41%, compared with 1.08% for ORCS.

What is the main difference between AIBD and ORCS?

Their fees differ too: 1.05% for AIBD and 0.97% for ORCS.