ORCS vs. SOXL
ORCS (Direxion Daily ORCL Bear 1X ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both exchange-traded funds - ORCS is a Inverse Equities fund actively managed by Direxion, while SOXL is a Leveraged Equities fund tracking the ICE Semiconductor Index. ORCS is actively managed, while SOXL is passively managed. At a correlation of -0.32, they often move in opposite directions. ORCS charges 0.97%/yr vs 0.75%/yr for SOXL.
Performance
ORCS vs. SOXL - Performance Comparison
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Returns By Period
In the year-to-date period, ORCS achieves a 18.62% return, which is significantly lower than SOXL's 315.94% return.
ORCS
- 1D
- 0.65%
- 1M
- 47.80%
- 6M
- 17.20%
- YTD
- 18.62%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SOXL
- 1D
- 5.77%
- 1M
- -17.32%
- 6M
- 234.33%
- YTD
- 315.94%
- 1Y
- 563.14%
- 3Y*
- 97.96%
- 5Y*
- 33.96%
- 10Y*
- 58.44%
ORCS vs. SOXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ORCS Direxion Daily ORCL Bear 1X ETF | 18.62% | 11.07% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 315.94% | 22.36% |
Correlation
The correlation between ORCS and SOXL is -0.32, 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 19, 2025 | -0.32 |
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Return for Risk
ORCS vs. SOXL — Risk / Return Rank
ORCS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SOXL
ORCS vs. SOXL - 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 Semiconductor Bull 3X ETF (SOXL). 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 | SOXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.45 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 12.61 | — |
| Martin ratioReturn relative to average drawdown | — | 38.19 | — |
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Drawdowns
ORCS vs. SOXL - Drawdown Comparison
The maximum ORCS drawdown since its inception was -50.25%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for ORCS and SOXL.
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Drawdown Indicators
| ORCS | SOXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.25% | -90.46% | +40.21% |
Max Drawdown (1Y)Largest decline over 1 year | — | -45.05% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -87.88% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -90.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -90.46% | — |
Current DrawdownCurrent decline from peak | -15.14% | -41.88% | +26.74% |
Average DrawdownAverage peak-to-trough decline | -16.45% | -34.94% | +18.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 14.85% | — |
Volatility
ORCS vs. SOXL - Volatility Comparison
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Volatility by Period
| ORCS | SOXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 65.98% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 107.36% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 59.76% | 122.58% | -62.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.76% | 111.60% | -51.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.76% | 101.17% | -41.41% |
ORCS vs. SOXL - Expense Ratio Comparison
ORCS has a 0.97% expense ratio, which is higher than SOXL's 0.75% expense ratio.
Dividends
ORCS vs. SOXL - Dividend Comparison
ORCS's dividend yield for the trailing twelve months is around 1.21%, more than SOXL's 0.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
ORCS Direxion Daily ORCL Bear 1X ETF | 1.21% | 0.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 0.01% | 0.34% | 1.18% | 0.51% | 1.07% | 0.04% | 0.05% | 0.38% | 1.30% | 0.09% | 4.84% |
Frequently Asked Questions
ORCS and SOXL have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SOXL is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SOXL is cheaper with a 0.75% expense ratio, compared with 0.97% for ORCS.
ORCS has the higher dividend yield at 1.21%, compared with 0.01% for SOXL.
ORCS is categorized as Inverse Equities, while SOXL is Leveraged Equities. Their fees differ too: 0.97% for ORCS and 0.75% for SOXL.
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