ORCS vs. BRKD
ORCS (Direxion Daily ORCL Bear 1X ETF) and BRKD (Direxion Daily BRKB Bear 1X Shares) are both Inverse Equities funds from Direxion. ORCS is actively managed, while BRKD is passively managed. At a correlation of -0.13, they often move in opposite directions. ORCS charges 0.97%/yr vs 1.00%/yr for BRKD.
Performance
ORCS vs. BRKD - Performance Comparison
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Returns By Period
In the year-to-date period, ORCS achieves a -20.50% return, which is significantly lower than BRKD's 5.90% return.
ORCS
- 1D
- 9.77%
- 1M
- -12.83%
- YTD
- -20.50%
- 6M
- -12.98%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BRKD
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 5.90%
- 6M
- 6.41%
- 1Y
- 5.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ORCS vs. BRKD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ORCS Direxion Daily ORCL Bear 1X ETF | -20.50% | 12.36% |
BRKD Direxion Daily BRKB Bear 1X Shares | 5.90% | 0.30% |
Correlation
The correlation between ORCS and BRKD is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025 | -0.13 |
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Return for Risk
ORCS vs. BRKD — Risk / Return Rank
ORCS
BRKD
ORCS vs. BRKD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily ORCL Bear 1X ETF (ORCS) and Direxion Daily BRKB Bear 1X Shares (BRKD). 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
| ORCS | BRKD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 0.44 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.31 | 0.04 | -0.35 |
Drawdowns
ORCS vs. BRKD - Drawdown Comparison
The maximum ORCS drawdown since its inception was -50.25%, which is greater than BRKD's maximum drawdown of -17.92%. Use the drawdown chart below to compare losses from any high point for ORCS and BRKD.
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Drawdown Indicators
| ORCS | BRKD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.25% | -17.92% | -32.33% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.34% | — |
Current DrawdownCurrent decline from peak | -43.12% | -3.69% | -39.43% |
Average DrawdownAverage peak-to-trough decline | -14.84% | -7.72% | -7.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 4.79% | — |
Volatility
ORCS vs. BRKD - Volatility Comparison
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Volatility by Period
| ORCS | BRKD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.00% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 9.19% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 60.71% | 13.22% | +47.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.71% | 17.21% | +43.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.71% | 17.21% | +43.50% |
ORCS vs. BRKD - Expense Ratio Comparison
ORCS has a 0.97% expense ratio, which is lower than BRKD's 1.00% expense ratio.
Dividends
ORCS vs. BRKD - Dividend Comparison
ORCS's dividend yield for the trailing twelve months is around 1.08%, less than BRKD's 2.82% yield.
| Position | TTM | 2025 |
|---|---|---|
BRKD Direxion Daily BRKB Bear 1X Shares | 2.82% | 3.50% |
ORCS Direxion Daily ORCL Bear 1X ETF | 1.08% | 0.26% |
Frequently Asked Questions
ORCS and BRKD have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
ORCS is cheaper with a 0.97% expense ratio, compared with 1.00% for BRKD.
BRKD has the higher dividend yield at 2.82%, compared with 1.08% for ORCS.
Their fees differ too: 0.97% for ORCS and 1.00% for BRKD.
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