NLSI vs. ORR
Compare and contrast key facts about Neos Long/Short Equity Income ETF (NLSI) and Militia Long/Short Equity ETF (ORR).
NLSI and ORR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NLSI is an actively managed fund by Neos. It was launched on Dec 9, 2025. ORR is an actively managed fund by Militia Investments. It was launched on Jan 14, 2025.
Performance
NLSI vs. ORR - Performance Comparison
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NLSI vs. ORR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NLSI Neos Long/Short Equity Income ETF | -9.90% | 1.90% |
ORR Militia Long/Short Equity ETF | 8.11% | 1.96% |
Returns By Period
In the year-to-date period, NLSI achieves a -9.90% return, which is significantly lower than ORR's 8.11% return.
NLSI
- 1D
- 0.93%
- 1M
- -2.48%
- YTD
- -9.90%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ORR
- 1D
- 1.32%
- 1M
- -3.83%
- YTD
- 8.11%
- 6M
- 18.65%
- 1Y
- 32.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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NLSI vs. ORR - Expense Ratio Comparison
NLSI has a 2.89% expense ratio, which is lower than ORR's 14.19% expense ratio.
Return for Risk
NLSI vs. ORR — Risk / Return Rank
NLSI
ORR
NLSI vs. ORR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neos Long/Short Equity Income ETF (NLSI) and Militia Long/Short Equity ETF (ORR). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| NLSI | ORR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 2.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.33 | 2.30 | -3.63 |
Correlation
The correlation between NLSI and ORR is -0.00. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
NLSI vs. ORR - Dividend Comparison
NLSI's dividend yield for the trailing twelve months is around 1.90%, while ORR has not paid dividends to shareholders.
| TTM | 2025 | |
|---|---|---|
NLSI Neos Long/Short Equity Income ETF | 1.90% | 0.46% |
ORR Militia Long/Short Equity ETF | 0.00% | 0.00% |
Drawdowns
NLSI vs. ORR - Drawdown Comparison
The maximum NLSI drawdown since its inception was -13.19%, which is greater than ORR's maximum drawdown of -8.64%. Use the drawdown chart below to compare losses from any high point for NLSI and ORR.
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Drawdown Indicators
| NLSI | ORR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.19% | -8.64% | -4.55% |
Max Drawdown (1Y)Largest decline over 1 year | — | -8.42% | — |
Current DrawdownCurrent decline from peak | -11.22% | -5.50% | -5.72% |
Average DrawdownAverage peak-to-trough decline | -6.27% | -1.53% | -4.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.45% | — |
Volatility
NLSI vs. ORR - Volatility Comparison
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Volatility by Period
| NLSI | ORR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.00% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 9.70% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 18.93% | 15.48% | +3.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.93% | 15.03% | +3.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.93% | 15.03% | +3.90% |