ORCX vs. MSTZ

Last updated Jul 14, 2026

ORCX (Defiance Daily Target 2X Long ORCL ETF) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - ORCX is a Leveraged Equities fund actively managed by Defiance, while MSTZ is a Inverse Equities fund actively managed by REX. Both are actively managed. Over the past year, ORCX returned -79.97% vs 282.56% for MSTZ. At a correlation of -0.38, they often move in opposite directions. ORCX charges 1.29%/yr vs 1.05%/yr for MSTZ.

Performance

ORCX vs. MSTZ - Performance Comparison

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

Returns By Period

In the year-to-date period, ORCX achieves a -63.98% return, which is significantly lower than MSTZ's -23.27% return.

ORCX

• 1D: -12.71%
• 1M: -50.11%
• 6M: -67.23%
• YTD: -63.98%
• 1Y: -79.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTZ

• 1D: 5.07%
• 1M: 46.38%
• 6M: -9.68%
• YTD: -23.27%
• 1Y: 282.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ORCX vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025
ORCX Defiance Daily Target 2X Long ORCL ETF	-63.98%	-16.64%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-23.27%	-4.83%

Correlation

The correlation between ORCX and MSTZ is -0.39, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.39
Correlation (All Time) Calculated using the full available price history since Feb 7, 2025	-0.38

Return for Risk

ORCX vs. MSTZ — Risk / Return Rank

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

ORCX

ORCX Risk / Return Rank: 3
ORCX Sharpe Ratio Rank: 4
ORCX Sortino Ratio Rank: 3
ORCX Omega Ratio Rank: 3
ORCX Calmar Ratio Rank: 1
ORCX Martin Ratio Rank: 3

MSTZ

MSTZ Risk / Return Rank: 68
MSTZ Sharpe Ratio Rank: 76
MSTZ Sortino Ratio Rank: 67
MSTZ Omega Ratio Rank: 68
MSTZ Calmar Ratio Rank: 80
MSTZ Martin Ratio Rank: 49

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. MSTZ - Risk-Adjusted Trends Comparison

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

	ORCX	MSTZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.62	1.92	-2.54
Sortino ratio: Return per unit of downside risk	-1.06	2.45	-3.51
Omega ratio: Gain probability vs. loss probability	0.88	1.32	-0.44
Calmar ratio: Return relative to maximum drawdown	-0.90	3.35	-4.25
Martin ratio: Return relative to average drawdown	-1.27	6.53	-7.80

ORCX vs. MSTZ - Sharpe Ratio Comparison

The current ORCX Sharpe Ratio is -0.62, which is lower than the MSTZ Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of ORCX and MSTZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ORCX vs. MSTZ - Drawdown Comparison

The maximum ORCX drawdown since its inception was -88.90%, smaller than the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for ORCX and MSTZ.

Drawdown Indicators

	ORCX	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-88.90%	-99.38%	+10.48%
Max Drawdown (1Y) Largest decline over 1 year	-88.90%	-84.89%	-4.01%
Current Drawdown Current decline from peak	-88.90%	-97.39%	+8.49%
Average Drawdown Average peak-to-trough decline	-46.92%	-94.53%	+47.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	63.09%	43.51%	+19.58%

Volatility

ORCX vs. MSTZ - Volatility Comparison

The current volatility for Defiance Daily Target 2X Long ORCL ETF (ORCX) is 31.34%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 56.56%. This indicates that ORCX experiences smaller price fluctuations and is considered to be less risky than MSTZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ORCX	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.34%	56.56%	-25.22%
Volatility (6M) Calculated over the trailing 6-month period	85.44%	135.11%	-49.67%
Volatility (1Y) Calculated over the trailing 1-year period	129.86%	148.53%	-18.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	121.20%	171.02%	-49.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	121.20%	171.02%	-49.82%

ORCX vs. MSTZ - Expense Ratio Comparison

ORCX has a 1.29% expense ratio, which is higher than MSTZ's 1.05% expense ratio.

Dividends

ORCX vs. MSTZ - Dividend Comparison

Neither ORCX nor MSTZ has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ORCX and MSTZ in my portfolio?

ORCX and MSTZ have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ORCX or MSTZ?

MSTZ has higher volatility (56.56%) compared to ORCX (31.34%). In terms of maximum drawdown, ORCX dropped -88.90% vs MSTZ's -99.38%.

Which ETF is better, ORCX or MSTZ?

On 1-year performance, MSTZ leads with 282.56% vs -79.97% for ORCX. On fees, MSTZ is cheaper at 1.05% per year. On volatility, ORCX has been the lower-risk option at 31.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ORCX or MSTZ?

Over the 1-year period, MSTZ has performed better with a 282.56% return vs -79.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ORCX or MSTZ?

MSTZ is cheaper with a 1.05% expense ratio, compared with 1.29% for ORCX.

Which ETF pays a higher dividend yield, ORCX or MSTZ?

ORCX and MSTZ have nearly identical dividend yields, around 0.00%.

What is the main difference between ORCX and MSTZ?

ORCX is categorized as Leveraged Equities, while MSTZ is Inverse Equities. They also come from different issuers: Defiance and REX. Their fees differ too: 1.29% for ORCX and 1.05% for MSTZ.

Which has better risk-adjusted returns?

MSTZ currently has the higher Sharpe Ratio (1.92 vs -0.62), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.