OPEX vs. ORLG
OPEX (Tradr 2X Long OPEN Daily ETF) and ORLG (Leverage Shares 2X Long ORLY Daily ETF) are both Leveraged Equities funds. OPEX is actively managed, while ORLG is passively managed. At a 0.01 correlation, their price movements are largely independent. OPEX charges 1.30%/yr vs 0.75%/yr for ORLG.
Performance
OPEX vs. ORLG - Performance Comparison
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Returns By Period
OPEX
- 1D
- -4.00%
- 1M
- -20.07%
- YTD
- -65.12%
- 6M
- -69.77%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ORLG
- 1D
- 4.20%
- 1M
- -10.10%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OPEX vs. ORLG - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
OPEX Tradr 2X Long OPEN Daily ETF | -71.20% |
ORLG Leverage Shares 2X Long ORLY Daily ETF | -21.64% |
Correlation
The correlation between OPEX and ORLG is 0.01, 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 | 0.01 |
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Return for Risk
OPEX vs. ORLG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long OPEN Daily ETF (OPEX) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Drawdowns
OPEX vs. ORLG - Drawdown Comparison
The maximum OPEX drawdown since its inception was -88.23%, which is greater than ORLG's maximum drawdown of -33.97%. Use the drawdown chart below to compare losses from any high point for OPEX and ORLG.
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Drawdown Indicators
| OPEX | ORLG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.23% | -33.97% | -54.26% |
Current DrawdownCurrent decline from peak | -88.23% | -31.20% | -57.03% |
Average DrawdownAverage peak-to-trough decline | -66.78% | -18.96% | -47.82% |
Volatility
OPEX vs. ORLG - Volatility Comparison
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Volatility by Period
| OPEX | ORLG | Difference | |
|---|---|---|---|
Volatility (1Y)Calculated over the trailing 1-year period | 169.89% | 54.24% | +115.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 169.89% | 54.24% | +115.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 169.89% | 54.24% | +115.65% |
OPEX vs. ORLG - Expense Ratio Comparison
OPEX has a 1.30% expense ratio, which is higher than ORLG's 0.75% expense ratio.
Dividends
OPEX vs. ORLG - Dividend Comparison
Neither OPEX nor ORLG has paid dividends to shareholders.
Frequently Asked Questions
OPEX and ORLG have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
ORLG is cheaper with a 0.75% expense ratio, compared with 1.30% for OPEX.
OPEX and ORLG have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Tradr ETFs and Leverage Shares. Their fees differ too: 1.30% for OPEX and 0.75% for ORLG.
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