MSOX vs. ORLG

Last updated Jul 17, 2026

MSOX (Advisorshares Msos 2x Daily ETF) and ORLG (Leverage Shares 2X Long ORLY Daily ETF) are both Leveraged Equities funds. MSOX is actively managed, while ORLG is passively managed. At a 0.09 correlation, their price movements are largely independent. MSOX charges 0.95%/yr vs 0.75%/yr for ORLG.

Performance

MSOX vs. ORLG - Performance Comparison

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

Returns By Period

MSOX

• 1D: -8.27%
• 1M: -21.29%
• 6M: -48.20%
• YTD: -45.54%
• 1Y: -16.72%
• 3Y*: -67.24%
• 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)

MSOX vs. ORLG - Yearly Performance Comparison

	2026 (YTD)
MSOX Advisorshares Msos 2x Daily ETF	-48.95%
ORLG Leverage Shares 2X Long ORLY Daily ETF	-25.87%

Correlation

The correlation between MSOX and ORLG is 0.09, 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	0.09

Return for Risk

MSOX vs. ORLG — Risk / Return Rank

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

MSOX

MSOX Risk / Return Rank: 19
MSOX Sharpe Ratio Rank: 9
MSOX Sortino Ratio Rank: 37
MSOX Omega Ratio Rank: 32
MSOX Calmar Ratio Rank: 8
MSOX Martin Ratio Rank: 8

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.

MSOX vs. ORLG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Advisorshares Msos 2x Daily ETF (MSOX) 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.

	MSOX	ORLG	Difference
Sharpe ratio: Return per unit of total volatility	-0.08	—	—
Sortino ratio: Return per unit of downside risk	1.62	—	—
Omega ratio: Gain probability vs. loss probability	1.18	—	—
Calmar ratio: Return relative to maximum drawdown	-0.20	—	—
Martin ratio: Return relative to average drawdown	-0.28	—	—

Drawdowns

MSOX vs. ORLG - Drawdown Comparison

The maximum MSOX drawdown since its inception was -99.75%, which is greater than ORLG's maximum drawdown of -39.93%. Use the drawdown chart below to compare losses from any high point for MSOX and ORLG.

Drawdown Indicators

	MSOX	ORLG	Difference
Max Drawdown Largest peak-to-trough decline	-99.75%	-39.93%	-59.82%
Max Drawdown (1Y) Largest decline over 1 year	-84.89%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-98.83%	—	—
Current Drawdown Current decline from peak	-99.64%	-34.91%	-64.73%
Average Drawdown Average peak-to-trough decline	-89.07%	-20.65%	-68.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	60.10%	—	—

Volatility

Volatility by Period

	MSOX	ORLG	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.67%	—	—
Volatility (6M) Calculated over the trailing 6-month period	111.69%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	219.64%	59.08%	+160.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	167.31%	59.08%	+108.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	167.31%	59.08%	+108.23%

MSOX vs. ORLG - Expense Ratio Comparison

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

Dividends

MSOX vs. ORLG - Dividend Comparison

Neither MSOX nor ORLG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MSOX and ORLG in my portfolio?

MSOX and ORLG have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MSOX 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, MSOX or ORLG?

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

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

MSOX and ORLG have nearly identical dividend yields, around 0.00%.

What is the main difference between MSOX and ORLG?

They also come from different issuers: AdvisorShares and Leverage Shares. Their fees differ too: 0.95% for MSOX and 0.75% for ORLG.