ORCX vs. MSTX

Last updated Apr 2, 2026

Compare and contrast key facts about Defiance Daily Target 2X Long ORCL ETF (ORCX) and Defiance Daily Target 2X Long MSTR ETF (MSTX).

ORCX and MSTX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ORCX is an actively managed fund by Defiance. It was launched on Feb 6, 2025. MSTX is an actively managed fund by Defiance. It was launched on Aug 14, 2024.

Performance

ORCX vs. MSTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long ORCL ETF (ORCX) and Defiance Daily Target 2X Long MSTR ETF (MSTX). The values are adjusted to include any dividend payments, if applicable.

ORCX vs. MSTX - Yearly Performance Comparison

	2026 (YTD)	2025
ORCX Defiance Daily Target 2X Long ORCL ETF	-49.58%	-16.20%
MSTX Defiance Daily Target 2X Long MSTR ETF	-51.04%	-90.63%

Returns By Period

The year-to-date returns for both stocks are quite close, with ORCX having a -49.58% return and MSTX slightly lower at -51.04%.

ORCX

• 1D: -2.36%
• 1M: -8.08%
• YTD: -49.58%
• 6M: -79.34%
• 1Y: -32.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTX

• 1D: -3.58%
• 1M: -24.90%
• YTD: -51.04%
• 6M: -91.98%
• 1Y: -93.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ORCX vs. MSTX - Expense Ratio Comparison

Both ORCX and MSTX have an expense ratio of 1.29%.

ORCX

Defiance Daily Target 2X Long ORCL ETF

MSTX

Defiance Daily Target 2X Long MSTR ETF

Return for Risk

ORCX vs. MSTX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ORCX

ORCX Risk / Return Rank: 10
ORCX Sharpe Ratio Rank: 7
ORCX Sortino Ratio Rank: 16
ORCX Omega Ratio Rank: 15
ORCX Calmar Ratio Rank: 6
ORCX Martin Ratio Rank: 7

MSTX

MSTX Risk / Return Rank: 1
MSTX Sharpe Ratio Rank: 3
MSTX Sortino Ratio Rank: 1
MSTX Omega Ratio Rank: 1
MSTX Calmar Ratio Rank: 0
MSTX Martin Ratio Rank: 1

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ORCX vs. MSTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long ORCL ETF (ORCX) and Defiance Daily Target 2X Long MSTR ETF (MSTX). 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.

	ORCX	MSTX	Difference
Sharpe ratio Return per unit of total volatility	-0.27	-0.64	+0.37
Sortino ratio Return per unit of downside risk	0.38	-1.64	+2.02
Omega ratio Gain probability vs. loss probability	1.04	0.82	+0.23
Calmar ratio Return relative to maximum drawdown	-0.36	-0.96	+0.60
Martin ratio Return relative to average drawdown	-0.64	-1.42	+0.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ORCX vs. MSTX - Sharpe Ratio Comparison

The current ORCX Sharpe Ratio is -0.27, which is higher than the MSTX Sharpe Ratio of -0.64. The chart below compares the historical Sharpe Ratios of ORCX and MSTX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ORCX	MSTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.27	-0.64	+0.37
Sharpe Ratio (All Time) Calculated using the full available price history	-0.45	-0.43	-0.02

Correlation

The correlation between ORCX and MSTX is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ORCX vs. MSTX - Dividend Comparison

Neither ORCX nor MSTX has paid dividends to shareholders.

	TTM	2025	2024
ORCX Defiance Daily Target 2X Long ORCL ETF	0.00%	0.00%	0.00%
MSTX Defiance Daily Target 2X Long MSTR ETF	0.00%	0.00%	41.01%

Drawdowns

ORCX vs. MSTX - Drawdown Comparison

The maximum ORCX drawdown since its inception was -85.78%, smaller than the maximum MSTX drawdown of -98.66%. Use the drawdown chart below to compare losses from any high point for ORCX and MSTX.

Drawdown Indicators

	ORCX	MSTX	Difference
Max Drawdown Largest peak-to-trough decline	-85.78%	-98.66%	+12.88%
Max Drawdown (1Y) Largest decline over 1 year	-85.78%	-96.62%	+10.84%
Current Drawdown Current decline from peak	-84.46%	-98.49%	+14.03%
Average Drawdown Average peak-to-trough decline	-39.61%	-67.02%	+27.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	48.34%	65.14%	-16.80%

Volatility

ORCX vs. MSTX - Volatility Comparison

The current volatility for Defiance Daily Target 2X Long ORCL ETF (ORCX) is 28.31%, while Defiance Daily Target 2X Long MSTR ETF (MSTX) has a volatility of 36.77%. This indicates that ORCX experiences smaller price fluctuations and is considered to be less risky than MSTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ORCX	MSTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.31%	36.77%	-8.46%
Volatility (6M) Calculated over the trailing 6-month period	73.81%	111.14%	-37.33%
Volatility (1Y) Calculated over the trailing 1-year period	122.51%	147.35%	-24.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	118.84%	169.54%	-50.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	118.84%	169.54%	-50.70%