GDXU vs. ORCX

Last updated Aug 5, 2026

GDXU (MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040) and ORCX (Defiance Daily Target 2X Long ORCL ETF) are both Leveraged Equities funds. GDXU is passively managed, while ORCX is actively managed. Over the past year, GDXU returned 11.75% vs -80.10% for ORCX. Their 0.18 correlation means their historical movements had little consistent relationship. GDXU charges 0.95%/yr vs 1.29%/yr for ORCX.

Performance

GDXU vs. ORCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) and Defiance Daily Target 2X Long ORCL ETF (ORCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GDXU achieves a -64.09% return, which is significantly lower than ORCX's -57.71% return.

GDXU

• 1D: 7.92%
• 1M: -8.65%
• 6M: -72.51%
• YTD: -64.09%
• 1Y: 11.75%
• 3Y*: 37.83%
• 5Y*: -10.60%
• 10Y*: —
• ALL TIME*: -16.49%

ORCX

• 1D: 5.30%
• 1M: 3.36%
• 6M: -31.00%
• YTD: -57.71%
• 1Y: -80.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -50.41%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040	$105.89M	$107.55M	$168.52M
ORCX Defiance Daily Target 2X Long ORCL ETF	$67.64M	$72.91M	$91.70M

GDXU vs. ORCX - Yearly Performance Comparison

	2026 (YTD)	2025
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040	-64.09%	429.70%
ORCX Defiance Daily Target 2X Long ORCL ETF	-57.71%	-16.64%

Correlation

The correlation between GDXU and ORCX is 0.25, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.25
Correlation (All Time) Calculated using the full available price history since Feb 7, 2025	0.18

GDXU vs. ORCX - Sectors Allocation Comparison

Sectors	GDXU	ORCX
Basic Materials	100.0%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	100.0%
Utilities	-	-

Return for Risk

GDXU vs. ORCX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GDXU

GDXU Risk / Return Rank: 19
GDXU Sharpe Ratio Rank: 12
GDXU Sortino Ratio Rank: 28
GDXU Omega Ratio Rank: 30
GDXU Calmar Ratio Rank: 12
GDXU Martin Ratio Rank: 12

ORCX

ORCX Risk / Return Rank: 3
ORCX Sharpe Ratio Rank: 4
ORCX Sortino Ratio Rank: 3
ORCX Omega Ratio Rank: 3
ORCX Calmar Ratio Rank: 2
ORCX Martin Ratio Rank: 3

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GDXU vs. ORCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) and Defiance Daily Target 2X Long ORCL ETF (ORCX). 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.

	GDXU	ORCX	Difference
Sharpe ratio: Return per unit of total volatility	0.08	-0.60	+0.68
Sortino ratio: Return per unit of downside risk	1.16	-0.98	+2.14
Omega ratio: Gain probability vs. loss probability	1.15	0.89	+0.26
Calmar ratio: Return relative to maximum drawdown	0.14	-0.87	+1.01
Martin ratio: Return relative to average drawdown	0.24	-1.19	+1.43

GDXU vs. ORCX - Sharpe Ratio Comparison

The current GDXU Sharpe Ratio is 0.08, which is higher than the ORCX Sharpe Ratio of -0.60. The chart below compares the historical Sharpe Ratios of GDXU and ORCX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GDXU vs. ORCX - Drawdown Comparison

The maximum GDXU drawdown since its inception was -94.39%, roughly equal to the maximum ORCX drawdown of -91.72%. Use the drawdown chart below to compare losses from any high point for GDXU and ORCX.

Drawdown Indicators

	GDXU	ORCX	Difference
Max Drawdown Largest peak-to-trough decline	-94.39%	-91.72%	-2.67%
Max Drawdown (1Y) Largest decline over 1 year	-87.14%	-91.72%	+4.58%
Max Drawdown (3Y) Largest decline over 3 years	-87.14%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-91.30%	—	—
Current Drawdown Current decline from peak	-83.33%	-86.96%	+3.63%
Average Drawdown Average peak-to-trough decline	-70.10%	-48.76%	-21.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	49.21%	67.03%	-17.82%

Volatility

GDXU vs. ORCX - Volatility Comparison

MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) and Defiance Daily Target 2X Long ORCL ETF (ORCX) have volatilities of 38.36% and 39.25%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDXU	ORCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	38.36%	39.25%	-0.89%
Volatility (6M) Calculated over the trailing 6-month period	117.20%	89.13%	+28.07%
Volatility (1Y) Calculated over the trailing 1-year period	147.65%	133.74%	+13.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	113.58%	122.20%	-8.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	111.57%	122.20%	-10.63%

GDXU vs. ORCX - Expense Ratio Comparison

GDXU has a 0.95% expense ratio, which is lower than ORCX's 1.29% expense ratio.

Dividends

GDXU vs. ORCX - Dividend Comparison

Neither GDXU nor ORCX has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GDXU and ORCX in my portfolio?

GDXU and ORCX have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GDXU or ORCX?

ORCX has higher volatility (39.25%) compared to GDXU (38.36%). In terms of maximum drawdown, GDXU dropped -94.39% vs ORCX's -91.72%.

Which ETF is better, GDXU or ORCX?

On 1-year performance, GDXU leads with 11.75% vs -80.10% for ORCX. On fees, GDXU is cheaper at 0.95% per year. On volatility, GDXU has been the lower-risk option at 38.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDXU or ORCX?

Over the 1-year period, GDXU has performed better with a 11.75% return vs -80.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDXU or ORCX?

GDXU is cheaper with a 0.95% expense ratio, compared with 1.29% for ORCX.

Which ETF pays a higher dividend yield, GDXU or ORCX?

GDXU and ORCX have nearly identical dividend yields, around 0.00%.

What is the main difference between GDXU and ORCX?

They also come from different issuers: BMO and Defiance. Their fees differ too: 0.95% for GDXU and 1.29% for ORCX.

Which has better risk-adjusted returns?

GDXU currently has the higher Sharpe Ratio (0.08 vs -0.60), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.