ORCS vs. ZIVB

Last updated Jun 6, 2026

ORCS (Direxion Daily ORCL Bear 1X ETF) and ZIVB (-1x Short VIX Mid-Term Futures Strategy ETF) are both Inverse Equities funds. Both are actively managed. ORCS charges 0.97%/yr vs 1.35%/yr for ZIVB.

Performance

ORCS vs. ZIVB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily ORCL Bear 1X ETF (ORCS) and -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ORCS

• 1D: 9.77%
• 1M: -12.83%
• YTD: -20.50%
• 6M: -12.98%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZIVB

• 1D: 0.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ORCS vs. ZIVB - Yearly Performance Comparison

	2026 (YTD)
ORCS Direxion Daily ORCL Bear 1X ETF	-7.91%
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	0.00%

Return for Risk

ORCS vs. ZIVB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily ORCL Bear 1X ETF (ORCS) and -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB). 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.

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

Sharpe Ratios by Period

	ORCS	ZIVB	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.31	—	—

Drawdowns

ORCS vs. ZIVB - Drawdown Comparison

The maximum ORCS drawdown since its inception was -50.25%, which is greater than ZIVB's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for ORCS and ZIVB.

Drawdown Indicators

	ORCS	ZIVB	Difference
Max Drawdown Largest peak-to-trough decline	-50.25%	0.00%	-50.25%
Current Drawdown Current decline from peak	-43.12%	0.00%	-43.12%
Average Drawdown Average peak-to-trough decline	-14.84%	0.00%	-14.84%

Volatility

Volatility by Period

	ORCS	ZIVB	Difference
Volatility (1Y) Calculated over the trailing 1-year period	60.71%	0.00%	+60.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.71%	0.00%	+60.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.71%	0.00%	+60.71%

ORCS vs. ZIVB - Expense Ratio Comparison

ORCS has a 0.97% expense ratio, which is lower than ZIVB's 1.35% expense ratio.

Dividends

ORCS vs. ZIVB - Dividend Comparison

ORCS's dividend yield for the trailing twelve months is around 1.08%, while ZIVB has not paid dividends to shareholders.

Position	TTM	2025
ORCS Direxion Daily ORCL Bear 1X ETF	1.08%	0.26%
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, ORCS or ZIVB?

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 ZIVB?

ORCS is cheaper with a 0.97% expense ratio, compared with 1.35% for ZIVB.

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

ORCS has the higher dividend yield at 1.08%, compared with 0.00% for ZIVB.

What is the main difference between ORCS and ZIVB?

They also come from different issuers: Direxion and Volatility Shares. Their fees differ too: 0.97% for ORCS and 1.35% for ZIVB.