ORCS vs. NBIZ

Last updated Jul 12, 2026

ORCS (Direxion Daily ORCL Bear 1X ETF) and NBIZ (Tradr 2X Short NBIS Daily ETF) are both Inverse Equities funds. ORCS is actively managed, while NBIZ is passively managed. At a 0.48 correlation, their price movements are largely independent. ORCS charges 0.97%/yr vs 1.49%/yr for NBIZ.

Performance

ORCS vs. NBIZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily ORCL Bear 1X ETF (ORCS) and Tradr 2X Short NBIS Daily ETF (NBIZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ORCS

• 1D: 2.16%
• 1M: 29.15%
• 6M: 20.88%
• YTD: 18.11%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NBIZ

• 1D: -3.01%
• 1M: -21.39%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ORCS vs. NBIZ - Yearly Performance Comparison

	2026 (YTD)
ORCS Direxion Daily ORCL Bear 1X ETF	6.39%
NBIZ Tradr 2X Short NBIS Daily ETF	-96.04%

Correlation

The correlation between ORCS and NBIZ is 0.48, 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 Jan 22, 2026	0.48

Return for Risk

ORCS vs. NBIZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily ORCL Bear 1X ETF (ORCS) and Tradr 2X Short NBIS Daily ETF (NBIZ). 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.

Drawdowns

ORCS vs. NBIZ - Drawdown Comparison

The maximum ORCS drawdown since its inception was -50.25%, smaller than the maximum NBIZ drawdown of -98.35%. Use the drawdown chart below to compare losses from any high point for ORCS and NBIZ.

Drawdown Indicators

	ORCS	NBIZ	Difference
Max Drawdown Largest peak-to-trough decline	-50.25%	-98.35%	+48.10%
Current Drawdown Current decline from peak	-15.50%	-97.70%	+82.20%
Average Drawdown Average peak-to-trough decline	-16.45%	-74.64%	+58.19%

Volatility

Volatility by Period

	ORCS	NBIZ	Difference
Volatility (1Y) Calculated over the trailing 1-year period	59.53%	217.33%	-157.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.53%	217.33%	-157.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.53%	217.33%	-157.80%

ORCS vs. NBIZ - Expense Ratio Comparison

ORCS has a 0.97% expense ratio, which is lower than NBIZ's 1.49% expense ratio.

Dividends

ORCS vs. NBIZ - Dividend Comparison

ORCS's dividend yield for the trailing twelve months is around 1.21%, while NBIZ has not paid dividends to shareholders.

Position	TTM	2025
NBIZ Tradr 2X Short NBIS Daily ETF	0.00%	0.00%
ORCS Direxion Daily ORCL Bear 1X ETF	1.21%	0.26%

Frequently Asked Questions

Can I hold both ORCS and NBIZ in my portfolio?

ORCS and NBIZ have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ORCS or NBIZ?

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, ORCS or NBIZ?

ORCS is cheaper with a 0.97% expense ratio, compared with 1.49% for NBIZ.

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

ORCS has the higher dividend yield at 1.21%, compared with 0.00% for NBIZ.

What is the main difference between ORCS and NBIZ?

They also come from different issuers: Direxion and Tradr. Their fees differ too: 0.97% for ORCS and 1.49% for NBIZ.