CSCL vs. ORLG

Last updated Jul 17, 2026

CSCL (Direxion Daily CSCO Bull 2X Shares) and ORLG (Leverage Shares 2X Long ORLY Daily ETF) are both Leveraged Equities funds. At a correlation of -0.05, they often move in opposite directions. CSCL charges 1.07%/yr vs 0.75%/yr for ORLG.

Performance

CSCL vs. ORLG - Performance Comparison

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

Returns By Period

CSCL

• 1D: -4.20%
• 1M: -17.00%
• 6M: 88.51%
• YTD: 80.70%
• 1Y: 122.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ORLG

• 1D: 8.37%
• 1M: -11.93%
• 6M: -23.86%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CSCL vs. ORLG - Yearly Performance Comparison

	2026 (YTD)
CSCL Direxion Daily CSCO Bull 2X Shares	92.44%
ORLG Leverage Shares 2X Long ORLY Daily ETF	-25.87%

Correlation

The correlation between CSCL and ORLG is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 15, 2026	-0.05

Return for Risk

CSCL vs. ORLG — Risk / Return Rank

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

CSCL

CSCL Risk / Return Rank: 72
CSCL Sharpe Ratio Rank: 74
CSCL Sortino Ratio Rank: 61
CSCL Omega Ratio Rank: 70
CSCL Calmar Ratio Rank: 88
CSCL Martin Ratio Rank: 69

ORLG

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.

CSCL vs. ORLG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily CSCO Bull 2X Shares (CSCL) 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.

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.

	CSCL	ORLG	Difference
Sharpe ratio: Return per unit of total volatility	1.89	—	—
Sortino ratio: Return per unit of downside risk	2.31	—	—
Omega ratio: Gain probability vs. loss probability	1.33	—	—
Calmar ratio: Return relative to maximum drawdown	4.02	—	—
Martin ratio: Return relative to average drawdown	9.87	—	—

Drawdowns

CSCL vs. ORLG - Drawdown Comparison

The maximum CSCL drawdown since its inception was -30.64%, smaller than the maximum ORLG drawdown of -39.93%. Use the drawdown chart below to compare losses from any high point for CSCL and ORLG.

Drawdown Indicators

	CSCL	ORLG	Difference
Max Drawdown Largest peak-to-trough decline	-30.64%	-39.93%	+9.29%
Max Drawdown (1Y) Largest decline over 1 year	-30.64%	—	—
Current Drawdown Current decline from peak	-30.64%	-34.91%	+4.27%
Average Drawdown Average peak-to-trough decline	-9.55%	-20.65%	+11.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.44%	—	—

Volatility

Volatility by Period

	CSCL	ORLG	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.72%	—	—
Volatility (6M) Calculated over the trailing 6-month period	58.98%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	65.23%	59.08%	+6.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	63.85%	59.08%	+4.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	63.85%	59.08%	+4.77%

CSCL vs. ORLG - Expense Ratio Comparison

CSCL has a 1.07% expense ratio, which is higher than ORLG's 0.75% expense ratio.

Dividends

CSCL vs. ORLG - Dividend Comparison

CSCL's dividend yield for the trailing twelve months is around 1.41%, while ORLG has not paid dividends to shareholders.

Position	TTM	2025
CSCL Direxion Daily CSCO Bull 2X Shares	1.41%	1.31%
ORLG Leverage Shares 2X Long ORLY Daily ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both CSCL and ORLG in my portfolio?

CSCL and ORLG have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CSCL 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, CSCL or ORLG?

ORLG is cheaper with a 0.75% expense ratio, compared with 1.07% for CSCL.

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

CSCL has the higher dividend yield at 1.41%, compared with 0.00% for ORLG.

What is the main difference between CSCL and ORLG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 1.07% for CSCL and 0.75% for ORLG.