METD vs. ORCS

Last updated Jul 14, 2026

METD (Direxion Daily META Bear 1X ETF) and ORCS (Direxion Daily ORCL Bear 1X ETF) are both Inverse Equities funds from Direxion. Both are actively managed. At a 0.28 correlation, their price movements are largely independent. METD charges 1.00%/yr vs 0.97%/yr for ORCS.

Performance

METD vs. ORCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily META Bear 1X ETF (METD) 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, METD achieves a -5.91% return, which is significantly lower than ORCS's 25.50% return.

METD

• 1D: 1.86%
• 1M: -15.71%
• 6M: -8.51%
• YTD: -5.91%
• 1Y: 0.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ORCS

• 1D: 6.26%
• 1M: 37.01%
• 6M: 32.40%
• YTD: 25.50%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

METD vs. ORCS - Yearly Performance Comparison

	2026 (YTD)	2025
METD Direxion Daily META Bear 1X ETF	-5.91%	-9.19%
ORCS Direxion Daily ORCL Bear 1X ETF	25.50%	11.07%

Correlation

The correlation between METD and ORCS is 0.28, 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 Nov 19, 2025	0.28

Return for Risk

METD vs. ORCS — Risk / Return Rank

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

METD

METD Risk / Return Rank: 10
METD Sharpe Ratio Rank: 10
METD Sortino Ratio Rank: 10
METD Omega Ratio Rank: 11
METD Calmar Ratio Rank: 10
METD Martin Ratio Rank: 10

ORCS

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.

METD vs. ORCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily META Bear 1X ETF (METD) 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.

	METD	ORCS	Difference
Sharpe ratio: Return per unit of total volatility	0.01	—	—
Sortino ratio: Return per unit of downside risk	0.29	—	—
Omega ratio: Gain probability vs. loss probability	1.04	—	—
Calmar ratio: Return relative to maximum drawdown	0.02	—	—
Martin ratio: Return relative to average drawdown	0.05	—	—

Drawdowns

METD vs. ORCS - Drawdown Comparison

The maximum METD drawdown since its inception was -46.03%, smaller than the maximum ORCS drawdown of -50.25%. Use the drawdown chart below to compare losses from any high point for METD and ORCS.

Drawdown Indicators

	METD	ORCS	Difference
Max Drawdown Largest peak-to-trough decline	-46.03%	-50.25%	+4.22%
Max Drawdown (1Y) Largest decline over 1 year	-24.68%	—	—
Current Drawdown Current decline from peak	-39.53%	-10.21%	-29.32%
Average Drawdown Average peak-to-trough decline	-28.69%	-16.41%	-12.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.24%	—	—

Volatility

Volatility by Period

	METD	ORCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.53%	—	—
Volatility (6M) Calculated over the trailing 6-month period	31.61%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	38.91%	59.82%	-20.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.47%	59.82%	-22.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.47%	59.82%	-22.35%

METD vs. ORCS - Expense Ratio Comparison

METD has a 1.00% expense ratio, which is higher than ORCS's 0.97% expense ratio.

Dividends

METD vs. ORCS - Dividend Comparison

METD's dividend yield for the trailing twelve months is around 2.94%, more than ORCS's 1.14% yield.

Position	TTM	2025	2024
METD Direxion Daily META Bear 1X ETF	2.94%	3.35%	2.30%
ORCS Direxion Daily ORCL Bear 1X ETF	1.14%	0.26%	0.00%

Frequently Asked Questions

Can I hold both METD and ORCS in my portfolio?

METD and ORCS have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, METD 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, METD or ORCS?

ORCS is cheaper with a 0.97% expense ratio, compared with 1.00% for METD.

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

METD has the higher dividend yield at 2.94%, compared with 1.14% for ORCS.

What is the main difference between METD and ORCS?

Their fees differ too: 1.00% for METD and 0.97% for ORCS.