APLZ vs. ORCS

Last updated Jul 17, 2026

APLZ (Tradr 2X Short APLD Daily ETF) and ORCS (Direxion Daily ORCL Bear 1X ETF) are both Inverse Equities funds. APLZ is passively managed, while ORCS is actively managed. At a 0.43 correlation, their price movements are largely independent. APLZ charges 1.49%/yr vs 0.97%/yr for ORCS.

Performance

APLZ vs. ORCS - Performance Comparison

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

Returns By Period

APLZ

• 1D: 17.90%
• 1M: 171.17%
• 6M: —
• YTD: —
• 1Y: —
• 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)

APLZ vs. ORCS - Yearly Performance Comparison

	2026 (YTD)
APLZ Tradr 2X Short APLD Daily ETF	-71.71%
ORCS Direxion Daily ORCL Bear 1X ETF	19.26%

Correlation

The correlation between APLZ and ORCS is 0.43, 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 22, 2026	0.43

Return for Risk

APLZ vs. ORCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Short APLD Daily ETF (APLZ) 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.

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

Drawdowns

APLZ vs. ORCS - Drawdown Comparison

The maximum APLZ drawdown since its inception was -91.78%, which is greater than ORCS's maximum drawdown of -50.25%. Use the drawdown chart below to compare losses from any high point for APLZ and ORCS.

Drawdown Indicators

	APLZ	ORCS	Difference
Max Drawdown Largest peak-to-trough decline	-91.78%	-50.25%	-41.53%
Current Drawdown Current decline from peak	-77.25%	-5.29%	-71.96%
Average Drawdown Average peak-to-trough decline	-60.59%	-16.25%	-44.34%

Volatility

Volatility by Period

	APLZ	ORCS	Difference
Volatility (1Y) Calculated over the trailing 1-year period	213.67%	59.95%	+153.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	213.67%	59.95%	+153.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	213.67%	59.95%	+153.72%

APLZ vs. ORCS - Expense Ratio Comparison

APLZ has a 1.49% expense ratio, which is higher than ORCS's 0.97% expense ratio.

Dividends

APLZ vs. ORCS - Dividend Comparison

APLZ has not paid dividends to shareholders, while ORCS's dividend yield for the trailing twelve months is around 1.08%.

Position	TTM	2025
APLZ Tradr 2X Short APLD Daily ETF	0.00%	0.00%
ORCS Direxion Daily ORCL Bear 1X ETF	1.08%	0.26%

Frequently Asked Questions

Can I hold both APLZ and ORCS in my portfolio?

APLZ and ORCS have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, APLZ 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, APLZ or ORCS?

ORCS is cheaper with a 0.97% expense ratio, compared with 1.49% for APLZ.

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

ORCS has the higher dividend yield at 1.08%, compared with 0.00% for APLZ.

What is the main difference between APLZ and ORCS?

They also come from different issuers: Tradr and Direxion. Their fees differ too: 1.49% for APLZ and 0.97% for ORCS.