CORD vs. ORCS

Last updated Jul 17, 2026

CORD (T-Rex 2X Inverse CRWV Daily Target ETF) and ORCS (Direxion Daily ORCL Bear 1X ETF) are both Inverse Equities funds. Both are actively managed. A 0.57 correlation means they provide meaningful diversification when combined. CORD charges 1.50%/yr vs 0.97%/yr for ORCS.

Performance

CORD vs. ORCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Inverse CRWV Daily Target ETF (CORD) 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, CORD achieves a -77.19% return, which is significantly lower than ORCS's 32.39% return.

CORD

• 1D: 11.14%
• 1M: 121.46%
• 6M: -54.46%
• YTD: -77.19%
• 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)

CORD vs. ORCS - Yearly Performance Comparison

	2026 (YTD)	2025
CORD T-Rex 2X Inverse CRWV Daily Target ETF	-77.19%	-24.38%
ORCS Direxion Daily ORCL Bear 1X ETF	32.39%	11.07%

Correlation

The correlation between CORD and ORCS is 0.57, 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	0.57

Return for Risk

CORD vs. ORCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Inverse CRWV Daily Target ETF (CORD) 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

CORD vs. ORCS - Drawdown Comparison

The maximum CORD drawdown since its inception was -93.69%, which is greater than ORCS's maximum drawdown of -50.25%. Use the drawdown chart below to compare losses from any high point for CORD and ORCS.

Drawdown Indicators

	CORD	ORCS	Difference
Max Drawdown Largest peak-to-trough decline	-93.69%	-50.25%	-43.44%
Current Drawdown Current decline from peak	-85.12%	-5.29%	-79.83%
Average Drawdown Average peak-to-trough decline	-60.91%	-16.25%	-44.66%

Volatility

Volatility by Period

	CORD	ORCS	Difference
Volatility (1Y) Calculated over the trailing 1-year period	184.30%	59.95%	+124.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	184.30%	59.95%	+124.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	184.30%	59.95%	+124.35%

CORD vs. ORCS - Expense Ratio Comparison

CORD has a 1.50% expense ratio, which is higher than ORCS's 0.97% expense ratio.

Dividends

CORD vs. ORCS - Dividend Comparison

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

Position	TTM	2025
CORD T-Rex 2X Inverse CRWV Daily Target ETF	0.00%	0.00%
ORCS Direxion Daily ORCL Bear 1X ETF	1.08%	0.26%

Frequently Asked Questions

Can I hold both CORD and ORCS in my portfolio?

CORD and ORCS have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CORD 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, CORD or ORCS?

ORCS is cheaper with a 0.97% expense ratio, compared with 1.50% for CORD.

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

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

What is the main difference between CORD and ORCS?

They also come from different issuers: Tuttle Capital Management and Direxion. Their fees differ too: 1.50% for CORD and 0.97% for ORCS.