NVDS vs. ORCS

Last updated Jul 14, 2026

NVDS (Tradr 1.25X NVDA Bear Daily ETF) and ORCS (Direxion Daily ORCL Bear 1X ETF) are both Inverse Equities funds. NVDS is passively managed, while ORCS is actively managed. At a 0.45 correlation, their price movements are largely independent. NVDS charges 1.15%/yr vs 0.97%/yr for ORCS.

Performance

NVDS vs. ORCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 1.25X NVDA Bear Daily ETF (NVDS) 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, NVDS achieves a -21.24% return, which is significantly lower than ORCS's 25.50% return.

NVDS

• 1D: 5.35%
• 1M: -0.21%
• 6M: -22.24%
• YTD: -21.24%
• 1Y: -38.07%
• 3Y*: -61.55%
• 5Y*: —
• 10Y*: —

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)

NVDS vs. ORCS - Yearly Performance Comparison

	2026 (YTD)	2025
NVDS Tradr 1.25X NVDA Bear Daily ETF	-21.24%	-5.19%
ORCS Direxion Daily ORCL Bear 1X ETF	25.50%	11.07%

Correlation

The correlation between NVDS and ORCS is 0.45, 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	0.45

Return for Risk

NVDS vs. ORCS — Risk / Return Rank

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

NVDS

NVDS Risk / Return Rank: 3
NVDS Sharpe Ratio Rank: 4
NVDS Sortino Ratio Rank: 4
NVDS Omega Ratio Rank: 4
NVDS Calmar Ratio Rank: 3
NVDS Martin Ratio Rank: 1

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.

NVDS vs. ORCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 1.25X NVDA Bear Daily ETF (NVDS) 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.

	NVDS	ORCS	Difference
Sharpe ratio: Return per unit of total volatility	-0.71	—	—
Sortino ratio: Return per unit of downside risk	-0.86	—	—
Omega ratio: Gain probability vs. loss probability	0.90	—	—
Calmar ratio: Return relative to maximum drawdown	-0.78	—	—
Martin ratio: Return relative to average drawdown	-1.51	—	—

Drawdowns

NVDS vs. ORCS - Drawdown Comparison

The maximum NVDS drawdown since its inception was -99.40%, which is greater than ORCS's maximum drawdown of -50.25%. Use the drawdown chart below to compare losses from any high point for NVDS and ORCS.

Drawdown Indicators

	NVDS	ORCS	Difference
Max Drawdown Largest peak-to-trough decline	-99.40%	-50.25%	-49.15%
Max Drawdown (1Y) Largest decline over 1 year	-48.88%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-95.83%	—	—
Current Drawdown Current decline from peak	-99.28%	-10.21%	-89.07%
Average Drawdown Average peak-to-trough decline	-83.79%	-16.41%	-67.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.28%	—	—

Volatility

Volatility by Period

	NVDS	ORCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.55%	—	—
Volatility (6M) Calculated over the trailing 6-month period	41.40%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	53.61%	59.82%	-6.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.71%	59.82%	+8.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.71%	59.82%	+8.89%

NVDS vs. ORCS - Expense Ratio Comparison

NVDS has a 1.15% expense ratio, which is higher than ORCS's 0.97% expense ratio.

Dividends

NVDS vs. ORCS - Dividend Comparison

NVDS's dividend yield for the trailing twelve months is around 18.02%, more than ORCS's 1.14% yield.

Position	TTM	2025	2024	2023	2022
NVDS Tradr 1.25X NVDA Bear Daily ETF	18.02%	14.19%	14.11%	14.69%	5.72%
ORCS Direxion Daily ORCL Bear 1X ETF	1.14%	0.26%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NVDS and ORCS in my portfolio?

NVDS and ORCS have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NVDS 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, NVDS or ORCS?

ORCS is cheaper with a 0.97% expense ratio, compared with 1.15% for NVDS.

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

NVDS has the higher dividend yield at 18.02%, compared with 1.14% for ORCS.

What is the main difference between NVDS and ORCS?

They also come from different issuers: AXS and Direxion. Their fees differ too: 1.15% for NVDS and 0.97% for ORCS.