APLX vs. ORLG

Last updated Jun 4, 2026

APLX (Tradr 2X Long APLD Daily ETF) and ORLG (Leverage Shares 2X Long ORLY Daily ETF) are both Leveraged Equities funds. APLX is actively managed, while ORLG is passively managed. At a 0.13 correlation, their price movements are largely independent. APLX charges 1.30%/yr vs 0.75%/yr for ORLG.

Performance

APLX vs. ORLG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long APLD Daily ETF (APLX) and Leverage Shares 2X Long ORLY Daily ETF (ORLG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

APLX

• 1D: -12.57%
• 1M: 39.18%
• YTD: 85.45%
• 6M: 13.38%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ORLG

• 1D: 2.37%
• 1M: -14.98%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

APLX vs. ORLG - Yearly Performance Comparison

	2026 (YTD)
APLX Tradr 2X Long APLD Daily ETF	-4.25%
ORLG Leverage Shares 2X Long ORLY Daily ETF	-19.31%

Correlation

The correlation between APLX and ORLG is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 16, 2026	0.13

Return for Risk

APLX vs. ORLG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long APLD Daily ETF (APLX) and Leverage Shares 2X Long ORLY Daily ETF (ORLG). 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.

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

Sharpe Ratios by Period

	APLX	ORLG	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.79	-0.79	+2.58

Drawdowns

APLX vs. ORLG - Drawdown Comparison

The maximum APLX drawdown since its inception was -84.39%, which is greater than ORLG's maximum drawdown of -32.62%. Use the drawdown chart below to compare losses from any high point for APLX and ORLG.

Drawdown Indicators

	APLX	ORLG	Difference
Max Drawdown Largest peak-to-trough decline	-84.39%	-32.62%	-51.77%
Current Drawdown Current decline from peak	-41.16%	-31.02%	-10.14%
Average Drawdown Average peak-to-trough decline	-45.49%	-17.83%	-27.66%

Volatility

Volatility by Period

	APLX	ORLG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	218.24%	55.34%	+162.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	218.24%	55.34%	+162.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	218.24%	55.34%	+162.90%

APLX vs. ORLG - Expense Ratio Comparison

APLX has a 1.30% expense ratio, which is higher than ORLG's 0.75% expense ratio.

Dividends

APLX vs. ORLG - Dividend Comparison

Neither APLX nor ORLG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both APLX and ORLG in my portfolio?

APLX and ORLG have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, APLX or ORLG?

On fees, ORLG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, APLX or ORLG?

ORLG is cheaper with a 0.75% expense ratio, compared with 1.30% for APLX.

Which ETF pays a higher dividend yield, APLX or ORLG?

APLX and ORLG have nearly identical dividend yields, around 0.00%.

What is the main difference between APLX and ORLG?

They also come from different issuers: Tradr and Leverage Shares. Their fees differ too: 1.30% for APLX and 0.75% for ORLG.