ORCS vs. SPUU
ORCS (Direxion Daily ORCL Bear 1X ETF) and SPUU (Direxion Daily S&P 500 Bull 2X ETF) are both exchange-traded funds - ORCS is a Inverse Equities fund actively managed by Direxion, while SPUU is a Leveraged Equities fund tracking the S&P 500 Index (200% Daily). ORCS is actively managed, while SPUU is passively managed. Their -0.49 correlation means they have often moved in opposite directions in the past. ORCS charges 0.97%/yr vs 0.60%/yr for SPUU.
Performance
ORCS vs. SPUU - 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 SPUU's 16.72% return.
ORCS
- 1D
- -1.91%
- 1M
- 4.83%
- 6M
- 6.73%
- YTD
- 24.72%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
SPUU
- 1D
- 1.52%
- 1M
- 0.24%
- 6M
- 14.02%
- YTD
- 16.72%
- 1Y
- 38.14%
- 3Y*
- 31.33%
- 5Y*
- 17.73%
- 10Y*
- 23.82%
- ALL TIME*
- 21.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.74M | $2.55M | $2.74M | |
| $4.20M | $4.55M | $4.33M |
ORCS vs. SPUU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ORCS Direxion Daily ORCL Bear 1X ETF | 24.72% | 11.07% |
SPUU Direxion Daily S&P 500 Bull 2X ETF | 16.72% | 6.38% |
Correlation
The correlation between ORCS and SPUU is -0.49, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 19, 2025 | -0.49 |
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Return for Risk
ORCS vs. SPUU — Risk / Return Rank
ORCS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPUU
ORCS vs. SPUU - 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 S&P 500 Bull 2X ETF (SPUU). 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 | SPUU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.23 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.85 | — |
| Martin ratioReturn relative to average drawdown | — | 7.47 | — |
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Drawdowns
ORCS vs. SPUU - Drawdown Comparison
The maximum ORCS drawdown since its inception was -50.25%, smaller than the maximum SPUU drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for ORCS and SPUU.
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Drawdown Indicators
| ORCS | SPUU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.25% | -59.35% | +9.10% |
Max Drawdown (1Y)Largest decline over 1 year | — | -18.19% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -35.18% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -46.59% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -59.35% | — |
Current DrawdownCurrent decline from peak | -12.34% | -3.83% | -8.51% |
Average DrawdownAverage peak-to-trough decline | -15.58% | -9.44% | -6.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 4.51% | — |
Volatility
ORCS vs. SPUU - Volatility Comparison
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Volatility by Period
| ORCS | SPUU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 7.10% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 20.38% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 60.28% | 25.88% | +34.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.28% | 33.70% | +26.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.28% | 35.79% | +24.49% |
ORCS vs. SPUU - Expense Ratio Comparison
ORCS has a 0.97% expense ratio, which is higher than SPUU's 0.60% expense ratio.
Dividends
ORCS vs. SPUU - Dividend Comparison
ORCS's dividend yield for the trailing twelve months is around 1.15%, less than SPUU's 1.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ORCS Direxion Daily ORCL Bear 1X ETF | 1.15% | 0.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPUU Direxion Daily S&P 500 Bull 2X ETF | 1.34% | 1.63% | 0.55% | 0.83% | 0.88% | 3.04% | 8.03% | 1.80% | 5.50% | 6.96% | 8.08% | 4.42% |
Frequently Asked Questions
ORCS and SPUU have a correlation of -0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPUU is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPUU is cheaper with a 0.60% expense ratio, compared with 0.97% for ORCS.
SPUU has the higher dividend yield at 1.34%, compared with 1.15% for ORCS.
ORCS is categorized as Inverse Equities, while SPUU is Leveraged Equities. Their fees differ too: 0.97% for ORCS and 0.60% for SPUU.
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