ORCU vs. TNA
ORCU (Direxion Daily ORCL Bull 2X ETF) and TNA (Direxion Daily Small Cap Bull 3X Shares) are both Leveraged Equities funds from Direxion. ORCU is actively managed, while TNA is passively managed. At a 0.36 correlation, their price movements are largely independent. ORCU charges 0.97%/yr vs 1.05%/yr for TNA.
Performance
ORCU vs. TNA - Performance Comparison
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Returns By Period
In the year-to-date period, ORCU achieves a -41.88% return, which is significantly lower than TNA's 56.90% return.
ORCU
- 1D
- -11.87%
- 1M
- -30.69%
- YTD
- -41.88%
- 6M
- -42.32%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TNA
- 1D
- -3.11%
- 1M
- 9.59%
- YTD
- 56.90%
- 6M
- 45.88%
- 1Y
- 125.39%
- 3Y*
- 32.32%
- 5Y*
- -5.98%
- 10Y*
- 9.70%
ORCU vs. TNA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ORCU Direxion Daily ORCL Bull 2X ETF | -41.88% | -27.54% |
TNA Direxion Daily Small Cap Bull 3X Shares | 56.90% | 15.83% |
Correlation
The correlation between ORCU and TNA is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 19, 2025 | 0.36 |
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Return for Risk
ORCU vs. TNA — Risk / Return Rank
ORCU
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TNA
ORCU vs. TNA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily ORCL Bull 2X ETF (ORCU) and Direxion Daily Small Cap Bull 3X Shares (TNA). 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.
| ORCU | TNA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.31 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.88 | — |
| Martin ratioReturn relative to average drawdown | — | 12.72 | — |
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Drawdowns
ORCU vs. TNA - Drawdown Comparison
The maximum ORCU drawdown since its inception was -67.67%, smaller than the maximum TNA drawdown of -88.09%. Use the drawdown chart below to compare losses from any high point for ORCU and TNA.
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Drawdown Indicators
| ORCU | TNA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.67% | -88.09% | +20.42% |
Max Drawdown (1Y)Largest decline over 1 year | — | -32.53% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -65.78% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -82.36% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -88.09% | — |
Current DrawdownCurrent decline from peak | -58.98% | -33.64% | -25.34% |
Average DrawdownAverage peak-to-trough decline | -43.38% | -33.92% | -9.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 9.89% | — |
Volatility
ORCU vs. TNA - Volatility Comparison
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Volatility by Period
| ORCU | TNA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 19.82% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 42.69% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 121.50% | 58.76% | +62.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 121.50% | 67.57% | +53.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 121.50% | 68.50% | +53.00% |
ORCU vs. TNA - Expense Ratio Comparison
ORCU has a 0.97% expense ratio, which is lower than TNA's 1.05% expense ratio.
Dividends
ORCU vs. TNA - Dividend Comparison
ORCU's dividend yield for the trailing twelve months is around 1.51%, more than TNA's 0.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ORCU Direxion Daily ORCL Bull 2X ETF | 1.51% | 0.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TNA Direxion Daily Small Cap Bull 3X Shares | 0.38% | 0.78% | 0.93% | 1.27% | 0.31% | 0.06% | 0.03% | 0.44% | 0.36% | 0.15% |
Frequently Asked Questions
ORCU and TNA have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ORCU is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ORCU is cheaper with a 0.97% expense ratio, compared with 1.05% for TNA.
ORCU has the higher dividend yield at 1.51%, compared with 0.38% for TNA.
Their fees differ too: 0.97% for ORCU and 1.05% for TNA.
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