MSFU vs. ORLG

Last updated Jul 17, 2026

MSFU (Direxion Daily MSFT Bull 2X Shares) and ORLG (Leverage Shares 2X Long ORLY Daily ETF) are both Leveraged Equities funds - MSFU tracks the Microsoft Corporation (200%) while ORLG tracks the O'Reilly Automotive, Inc. (ORLY). Both are passively managed. At a 0.11 correlation, their price movements are largely independent. MSFU charges 0.98%/yr vs 0.75%/yr for ORLG.

Performance

MSFU vs. ORLG - Performance Comparison

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

Returns By Period

MSFU

• 1D: 2.79%
• 1M: 1.71%
• 6M: -30.22%
• YTD: -38.01%
• 1Y: -46.61%
• 3Y*: -6.44%
• 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)

MSFU vs. ORLG - Yearly Performance Comparison

	2026 (YTD)
MSFU Direxion Daily MSFT Bull 2X Shares	-31.06%
ORLG Leverage Shares 2X Long ORLY Daily ETF	-25.87%

Correlation

The correlation between MSFU and ORLG is 0.11, 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 Jan 15, 2026	0.11

Return for Risk

MSFU vs. ORLG — Risk / Return Rank

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

MSFU

MSFU Risk / Return Rank: 3
MSFU Sharpe Ratio Rank: 3
MSFU Sortino Ratio Rank: 3
MSFU Omega Ratio Rank: 3
MSFU Calmar Ratio Rank: 3
MSFU Martin Ratio Rank: 3

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.

MSFU vs. ORLG - Risk-Adjusted Trends Comparison

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

	MSFU	ORLG	Difference
Sharpe ratio: Return per unit of total volatility	-0.86	—	—
Sortino ratio: Return per unit of downside risk	-1.15	—	—
Omega ratio: Gain probability vs. loss probability	0.86	—	—
Calmar ratio: Return relative to maximum drawdown	-0.75	—	—
Martin ratio: Return relative to average drawdown	-1.29	—	—

Drawdowns

MSFU vs. ORLG - Drawdown Comparison

The maximum MSFU drawdown since its inception was -62.43%, which is greater than ORLG's maximum drawdown of -39.93%. Use the drawdown chart below to compare losses from any high point for MSFU and ORLG.

Drawdown Indicators

	MSFU	ORLG	Difference
Max Drawdown Largest peak-to-trough decline	-62.43%	-39.93%	-22.50%
Max Drawdown (1Y) Largest decline over 1 year	-62.43%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-62.43%	—	—
Current Drawdown Current decline from peak	-52.02%	-34.91%	-17.11%
Average Drawdown Average peak-to-trough decline	-17.63%	-20.65%	+3.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	36.09%	—	—

Volatility

Volatility by Period

	MSFU	ORLG	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.06%	—	—
Volatility (6M) Calculated over the trailing 6-month period	49.29%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	54.44%	59.08%	-4.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.07%	59.08%	-12.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.07%	59.08%	-12.01%

MSFU vs. ORLG - Expense Ratio Comparison

MSFU has a 0.98% expense ratio, which is higher than ORLG's 0.75% expense ratio.

Dividends

MSFU vs. ORLG - Dividend Comparison

MSFU's dividend yield for the trailing twelve months is around 11.94%, while ORLG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
MSFU Direxion Daily MSFT Bull 2X Shares	11.94%	8.15%	7.00%	2.11%	0.54%
ORLG Leverage Shares 2X Long ORLY Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MSFU and ORLG in my portfolio?

MSFU and ORLG have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MSFU 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, MSFU or ORLG?

ORLG is cheaper with a 0.75% expense ratio, compared with 0.98% for MSFU.

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

MSFU has the higher dividend yield at 11.94%, compared with 0.00% for ORLG.

What is the main difference between MSFU and ORLG?

MSFU tracks Microsoft Corporation (200%), while ORLG tracks O'Reilly Automotive, Inc. (ORLY). They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 0.98% for MSFU and 0.75% for ORLG.