DXD vs. ORLG

Last updated Jul 17, 2026

DXD (ProShares UltraShort Dow30) and ORLG (Leverage Shares 2X Long ORLY Daily ETF) are both Leveraged Equities funds - DXD tracks the Dow Jones Industrial Average Index (-200%) while ORLG tracks the O'Reilly Automotive, Inc. (ORLY). Both are passively managed. At a correlation of -0.12, they often move in opposite directions. DXD charges 0.95%/yr vs 0.75%/yr for ORLG.

Performance

DXD vs. ORLG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Dow30 (DXD) and Leverage Shares 2X Long ORLY Daily ETF (ORLG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DXD

• 1D: 0.47%
• 1M: -1.43%
• 6M: -10.83%
• YTD: -15.57%
• 1Y: -26.79%
• 3Y*: -21.47%
• 5Y*: -15.76%
• 10Y*: -24.44%

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)

DXD vs. ORLG - Yearly Performance Comparison

	2026 (YTD)
DXD ProShares UltraShort Dow30	-11.88%
ORLG Leverage Shares 2X Long ORLY Daily ETF	-25.87%

Correlation

The correlation between DXD and ORLG is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 15, 2026	-0.12

Return for Risk

DXD vs. ORLG — Risk / Return Rank

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

DXD

DXD Risk / Return Rank: 1
DXD Sharpe Ratio Rank: 1
DXD Sortino Ratio Rank: 2
DXD Omega Ratio Rank: 2
DXD Calmar Ratio Rank: 2
DXD Martin Ratio Rank: 1

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.

DXD vs. ORLG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Dow30 (DXD) 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.

	DXD	ORLG	Difference
Sharpe ratio: Return per unit of total volatility	-1.09	—	—
Sortino ratio: Return per unit of downside risk	-1.52	—	—
Omega ratio: Gain probability vs. loss probability	0.83	—	—
Calmar ratio: Return relative to maximum drawdown	-0.88	—	—
Martin ratio: Return relative to average drawdown	-1.56	—	—

Drawdowns

DXD vs. ORLG - Drawdown Comparison

The maximum DXD drawdown since its inception was -99.72%, which is greater than ORLG's maximum drawdown of -39.93%. Use the drawdown chart below to compare losses from any high point for DXD and ORLG.

Drawdown Indicators

	DXD	ORLG	Difference
Max Drawdown Largest peak-to-trough decline	-99.72%	-39.93%	-59.79%
Max Drawdown (1Y) Largest decline over 1 year	-30.71%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-59.14%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-67.19%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-94.35%	—	—
Current Drawdown Current decline from peak	-99.72%	-34.91%	-64.81%
Average Drawdown Average peak-to-trough decline	-82.39%	-20.65%	-61.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.24%	—	—

Volatility

Volatility by Period

	DXD	ORLG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.67%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.46%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	24.59%	59.08%	-34.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.57%	59.08%	-29.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.85%	59.08%	-24.23%

DXD vs. ORLG - Expense Ratio Comparison

DXD has a 0.95% expense ratio, which is higher than ORLG's 0.75% expense ratio.

Dividends

DXD vs. ORLG - Dividend Comparison

DXD's dividend yield for the trailing twelve months is around 4.03%, while ORLG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DXD ProShares UltraShort Dow30	4.03%	4.25%	5.91%	3.87%	0.25%	0.00%	0.31%	1.76%	1.15%	0.12%
ORLG Leverage Shares 2X Long ORLY Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DXD and ORLG in my portfolio?

DXD and ORLG have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DXD 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, DXD or ORLG?

ORLG is cheaper with a 0.75% expense ratio, compared with 0.95% for DXD.

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

DXD has the higher dividend yield at 4.03%, compared with 0.00% for ORLG.

What is the main difference between DXD and ORLG?

DXD tracks Dow Jones Industrial Average Index (-200%), while ORLG tracks O'Reilly Automotive, Inc. (ORLY). They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for DXD and 0.75% for ORLG.