MSTZ vs. ORCS

Last updated Jul 16, 2026

MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) and ORCS (Direxion Daily ORCL Bear 1X ETF) are both Inverse Equities funds. Both are actively managed. At a 0.41 correlation, their price movements are largely independent. MSTZ charges 1.05%/yr vs 0.97%/yr for ORCS.

Performance

MSTZ vs. ORCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) 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, MSTZ achieves a -31.95% return, which is significantly lower than ORCS's 24.83% return.

MSTZ

• 1D: -0.09%
• 1M: 46.79%
• 6M: 0.09%
• YTD: -31.95%
• 1Y: 252.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ORCS

• 1D: -3.32%
• 1M: 42.86%
• 6M: 24.76%
• YTD: 24.83%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSTZ vs. ORCS - Yearly Performance Comparison

	2026 (YTD)	2025
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-31.95%	61.95%
ORCS Direxion Daily ORCL Bear 1X ETF	24.83%	11.07%

Correlation

The correlation between MSTZ and ORCS is 0.41, 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	0.41

Return for Risk

MSTZ vs. ORCS — Risk / Return Rank

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

MSTZ

MSTZ Risk / Return Rank: 61
MSTZ Sharpe Ratio Rank: 65
MSTZ Sortino Ratio Rank: 62
MSTZ Omega Ratio Rank: 64
MSTZ Calmar Ratio Rank: 73
MSTZ Martin Ratio Rank: 43

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.

MSTZ vs. ORCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) 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.

	MSTZ	ORCS	Difference
Sharpe ratio: Return per unit of total volatility	1.71	—	—
Sortino ratio: Return per unit of downside risk	2.37	—	—
Omega ratio: Gain probability vs. loss probability	1.31	—	—
Calmar ratio: Return relative to maximum drawdown	3.00	—	—
Martin ratio: Return relative to average drawdown	5.79	—	—

Drawdowns

MSTZ vs. ORCS - Drawdown Comparison

The maximum MSTZ drawdown since its inception was -99.38%, which is greater than ORCS's maximum drawdown of -50.25%. Use the drawdown chart below to compare losses from any high point for MSTZ and ORCS.

Drawdown Indicators

	MSTZ	ORCS	Difference
Max Drawdown Largest peak-to-trough decline	-99.38%	-50.25%	-49.13%
Max Drawdown (1Y) Largest decline over 1 year	-84.89%	—	—
Current Drawdown Current decline from peak	-97.68%	-10.69%	-86.99%
Average Drawdown Average peak-to-trough decline	-94.55%	-16.32%	-78.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	43.81%	—	—

Volatility

Volatility by Period

	MSTZ	ORCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	56.66%	—	—
Volatility (6M) Calculated over the trailing 6-month period	135.05%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	148.51%	59.71%	+88.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	170.85%	59.71%	+111.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	170.85%	59.71%	+111.14%

MSTZ vs. ORCS - Expense Ratio Comparison

MSTZ has a 1.05% expense ratio, which is higher than ORCS's 0.97% expense ratio.

Dividends

MSTZ vs. ORCS - Dividend Comparison

MSTZ has not paid dividends to shareholders, while ORCS's dividend yield for the trailing twelve months is around 1.15%.

Position	TTM	2025
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	0.00%	0.00%
ORCS Direxion Daily ORCL Bear 1X ETF	1.15%	0.26%

Frequently Asked Questions

Can I hold both MSTZ and ORCS in my portfolio?

MSTZ and ORCS have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MSTZ 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, MSTZ or ORCS?

ORCS is cheaper with a 0.97% expense ratio, compared with 1.05% for MSTZ.

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

ORCS has the higher dividend yield at 1.15%, compared with 0.00% for MSTZ.

What is the main difference between MSTZ and ORCS?

They also come from different issuers: REX and Direxion. Their fees differ too: 1.05% for MSTZ and 0.97% for ORCS.