MYY vs. ORCS

Last updated Jul 14, 2026

MYY (ProShares Short S&P Mid Cap400) and ORCS (Direxion Daily ORCL Bear 1X ETF) are both Inverse Equities funds. MYY is passively managed, while ORCS is actively managed. At a 0.28 correlation, their price movements are largely independent. MYY charges 0.95%/yr vs 0.97%/yr for ORCS.

Performance

MYY vs. ORCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short S&P Mid Cap400 (MYY) 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, MYY achieves a -11.03% return, which is significantly lower than ORCS's 25.50% return.

MYY

• 1D: 0.53%
• 1M: 1.24%
• 6M: -6.84%
• YTD: -11.03%
• 1Y: -13.14%
• 3Y*: -8.04%
• 5Y*: -6.30%
• 10Y*: -10.79%

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)

MYY vs. ORCS - Yearly Performance Comparison

	2026 (YTD)	2025
MYY ProShares Short S&P Mid Cap400	-11.03%	-4.28%
ORCS Direxion Daily ORCL Bear 1X ETF	25.50%	11.07%

Correlation

The correlation between MYY 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

MYY vs. ORCS — Risk / Return Rank

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

MYY

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

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.

MYY vs. ORCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short S&P Mid Cap400 (MYY) 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.

	MYY	ORCS	Difference
Sharpe ratio: Return per unit of total volatility	-0.83	—	—
Sortino ratio: Return per unit of downside risk	-1.09	—	—
Omega ratio: Gain probability vs. loss probability	0.87	—	—
Calmar ratio: Return relative to maximum drawdown	-0.72	—	—
Martin ratio: Return relative to average drawdown	-1.36	—	—

Drawdowns

MYY vs. ORCS - Drawdown Comparison

The maximum MYY drawdown since its inception was -95.20%, which is greater than ORCS's maximum drawdown of -50.25%. Use the drawdown chart below to compare losses from any high point for MYY and ORCS.

Drawdown Indicators

	MYY	ORCS	Difference
Max Drawdown Largest peak-to-trough decline	-95.20%	-50.25%	-44.95%
Max Drawdown (1Y) Largest decline over 1 year	-18.25%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-35.14%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-37.79%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-71.93%	—	—
Current Drawdown Current decline from peak	-95.07%	-10.21%	-84.86%
Average Drawdown Average peak-to-trough decline	-72.25%	-16.41%	-55.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.65%	—	—

Volatility

Volatility by Period

	MYY	ORCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.22%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.69%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.83%	59.82%	-43.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.60%	59.82%	-40.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.21%	59.82%	-38.61%

MYY vs. ORCS - Expense Ratio Comparison

MYY has a 0.95% expense ratio, which is lower than ORCS's 0.97% expense ratio.

Dividends

MYY vs. ORCS - Dividend Comparison

MYY's dividend yield for the trailing twelve months is around 4.29%, more than ORCS's 1.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
MYY ProShares Short S&P Mid Cap400	4.29%	4.20%	4.92%	5.08%	0.40%	0.00%	0.05%	1.52%	0.34%
ORCS Direxion Daily ORCL Bear 1X ETF	1.14%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MYY and ORCS in my portfolio?

MYY 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, MYY or ORCS?

On fees, MYY is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MYY or ORCS?

MYY is cheaper with a 0.95% expense ratio, compared with 0.97% for ORCS.

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

MYY has the higher dividend yield at 4.29%, compared with 1.14% for ORCS.

What is the main difference between MYY and ORCS?

They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for MYY and 0.97% for ORCS.