ORCS vs. NVD
ORCS (Direxion Daily ORCL Bear 1X ETF) and NVD (GraniteShares 2x Short NVDA Daily ETF) are both Inverse Equities funds. Both are actively managed. Their 0.42 correlation means their historical movements had little consistent relationship. ORCS charges 0.97%/yr vs 1.50%/yr for NVD.
Performance
ORCS vs. NVD - Performance Comparison
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Returns By Period
In the year-to-date period, ORCS achieves a 24.72% return, which is significantly higher than NVD's -30.21% return.
ORCS
- 1D
- -1.91%
- 1M
- 4.83%
- 6M
- 6.73%
- YTD
- 24.72%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
NVD
- 1D
- -5.85%
- 1M
- -9.27%
- 6M
- -25.85%
- YTD
- -30.21%
- 1Y
- -45.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -78.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $448.34M | $392.73M | $345.88M | |
| $1.74M | $2.55M | $2.74M |
ORCS vs. NVD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ORCS Direxion Daily ORCL Bear 1X ETF | 24.72% | 11.07% |
NVD GraniteShares 2x Short NVDA Daily ETF | -30.21% | -7.66% |
Correlation
The correlation between ORCS and NVD is 0.42, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 19, 2025 | 0.42 |
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Return for Risk
ORCS vs. NVD — Risk / Return Rank
ORCS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
NVD
ORCS vs. NVD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily ORCL Bear 1X ETF (ORCS) and GraniteShares 2x Short NVDA Daily ETF (NVD). 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.
| ORCS | NVD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.94 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.72 | — |
| Martin ratioReturn relative to average drawdown | — | -1.30 | — |
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Drawdowns
ORCS vs. NVD - Drawdown Comparison
The maximum ORCS drawdown since its inception was -50.25%, smaller than the maximum NVD drawdown of -99.26%. Use the drawdown chart below to compare losses from any high point for ORCS and NVD.
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Drawdown Indicators
| ORCS | NVD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.25% | -99.26% | +49.01% |
Max Drawdown (1Y)Largest decline over 1 year | — | -59.80% | — |
Current DrawdownCurrent decline from peak | -12.34% | -99.06% | +86.72% |
Average DrawdownAverage peak-to-trough decline | -15.58% | -82.49% | +66.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 33.25% | — |
Volatility
ORCS vs. NVD - Volatility Comparison
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Volatility by Period
| ORCS | NVD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 24.19% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 57.44% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 60.28% | 73.16% | -12.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.28% | 92.05% | -31.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.28% | 92.05% | -31.77% |
ORCS vs. NVD - Expense Ratio Comparison
ORCS has a 0.97% expense ratio, which is lower than NVD's 1.50% expense ratio.
Dividends
ORCS vs. NVD - Dividend Comparison
ORCS's dividend yield for the trailing twelve months is around 1.15%, less than NVD's 16.95% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
NVD GraniteShares 2x Short NVDA Daily ETF | 16.95% | 11.83% | 8.68% | 15.78% |
ORCS Direxion Daily ORCL Bear 1X ETF | 1.15% | 0.26% | 0.00% | 0.00% |
Frequently Asked Questions
ORCS and NVD have a correlation of 0.42, 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 1.50% for NVD.
NVD has the higher dividend yield at 16.95%, compared with 1.15% for ORCS.
They also come from different issuers: Direxion and GraniteShares. Their fees differ too: 0.97% for ORCS and 1.50% for NVD.
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