ORCS vs. YQQQ

Last updated Aug 2, 2026

ORCS (Direxion Daily ORCL Bear 1X ETF) and YQQQ (YieldMax Short N100 Option Income Strategy ETF) are both exchange-traded funds - ORCS is a Inverse Equities fund actively managed by Direxion, while YQQQ is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Their 0.52 correlation means they have sometimes moved together and sometimes differently. ORCS charges 0.97%/yr vs 0.99%/yr for YQQQ.

Performance

ORCS vs. YQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily ORCL Bear 1X ETF (ORCS) and YieldMax Short N100 Option Income Strategy ETF (YQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ORCS achieves a 24.72% return, which is significantly higher than YQQQ's -2.27% return.

ORCS

• 1D: -1.91%
• 1M: 4.83%
• 6M: 6.73%
• YTD: 24.72%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

YQQQ

• 1D: -0.25%
• 1M: 3.85%
• 6M: -3.32%
• YTD: -2.27%
• 1Y: -5.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -8.84%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ORCS Direxion Daily ORCL Bear 1X ETF	$1.74M	$2.55M	$2.74M
YQQQ YieldMax Short N100 Option Income Strategy ETF	$672.47K	$456.85K	$596.52K

ORCS vs. YQQQ - Yearly Performance Comparison

	2026 (YTD)	2025
ORCS Direxion Daily ORCL Bear 1X ETF	24.72%	11.07%
YQQQ YieldMax Short N100 Option Income Strategy ETF	-2.27%	-0.32%

Correlation

The correlation between ORCS and YQQQ is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 19, 2025	0.52

Return for Risk

ORCS vs. YQQQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ORCS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

YQQQ

YQQQ Risk / Return Rank: 7
YQQQ Sharpe Ratio Rank: 7
YQQQ Sortino Ratio Rank: 6
YQQQ Omega Ratio Rank: 6
YQQQ Calmar Ratio Rank: 8
YQQQ Martin Ratio Rank: 8

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ORCS vs. YQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily ORCL Bear 1X ETF (ORCS) and YieldMax Short N100 Option Income Strategy ETF (YQQQ). 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	YQQQ	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.31	—
Sortino ratio: Return per unit of downside risk	—	-0.34	—
Omega ratio: Gain probability vs. loss probability	—	0.96	—
Calmar ratio: Return relative to maximum drawdown	—	-0.20	—
Martin ratio: Return relative to average drawdown	—	-0.44	—

Drawdowns

ORCS vs. YQQQ - Drawdown Comparison

The maximum ORCS drawdown since its inception was -50.25%, which is greater than YQQQ's maximum drawdown of -29.10%. Use the drawdown chart below to compare losses from any high point for ORCS and YQQQ.

Drawdown Indicators

	ORCS	YQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-50.25%	-29.10%	-21.15%
Max Drawdown (1Y) Largest decline over 1 year	—	-21.80%	—
Current Drawdown Current decline from peak	-12.34%	-22.91%	+10.57%
Average Drawdown Average peak-to-trough decline	-15.58%	-15.15%	-0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.05%	—

Volatility

Volatility by Period

	ORCS	YQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.48%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.99%	—
Volatility (1Y) Calculated over the trailing 1-year period	60.28%	14.30%	+45.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.28%	16.54%	+43.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.28%	16.54%	+43.74%

ORCS vs. YQQQ - Expense Ratio Comparison

ORCS has a 0.97% expense ratio, which is lower than YQQQ's 0.99% expense ratio.

Dividends

ORCS vs. YQQQ - Dividend Comparison

ORCS's dividend yield for the trailing twelve months is around 1.15%, less than YQQQ's 28.92% yield.

Position	TTM	2025	2024
ORCS Direxion Daily ORCL Bear 1X ETF	1.15%	0.26%	0.00%
YQQQ YieldMax Short N100 Option Income Strategy ETF	28.92%	31.71%	7.88%

Frequently Asked Questions

Can I hold both ORCS and YQQQ in my portfolio?

ORCS and YQQQ have a correlation of 0.52, 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 YQQQ?

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 YQQQ?

ORCS is cheaper with a 0.97% expense ratio, compared with 0.99% for YQQQ.

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

YQQQ has the higher dividend yield at 28.92%, compared with 1.15% for ORCS.

What is the main difference between ORCS and YQQQ?

ORCS is categorized as Inverse Equities, while YQQQ is Derivative Income. They also come from different issuers: Direxion and YieldMax. Their fees differ too: 0.97% for ORCS and 0.99% for YQQQ.