ORCX vs. TERG

Last updated Jun 4, 2026

ORCX (Defiance Daily Target 2X Long ORCL ETF) and TERG (Leverage Shares 2X Long TER Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.19 correlation, their price movements are largely independent. ORCX charges 1.29%/yr vs 0.75%/yr for TERG.

Performance

ORCX vs. TERG - Performance Comparison

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

Returns By Period

In the year-to-date period, ORCX achieves a 16.25% return, which is significantly lower than TERG's 229.64% return.

ORCX

• 1D: -11.49%
• 1M: 55.88%
• YTD: 16.25%
• 6M: -1.67%
• 1Y: 15.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TERG

• 1D: 8.49%
• 1M: 39.95%
• YTD: 229.64%
• 6M: 218.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ORCX vs. TERG - Yearly Performance Comparison

	2026 (YTD)	2025
ORCX Defiance Daily Target 2X Long ORCL ETF	16.25%	-25.83%
TERG Leverage Shares 2X Long TER Daily ETF	229.64%	28.17%

Correlation

The correlation between ORCX and TERG is 0.19, 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 18, 2025	0.19

Return for Risk

ORCX vs. TERG — Risk / Return Rank

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

ORCX

ORCX Risk / Return Rank: 15
ORCX Sharpe Ratio Rank: 10
ORCX Sortino Ratio Rank: 23
ORCX Omega Ratio Rank: 21
ORCX Calmar Ratio Rank: 11
ORCX Martin Ratio Rank: 10

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. TERG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long ORCL ETF (ORCX) and Leverage Shares 2X Long TER Daily ETF (TERG). 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	TERG	Difference
Sharpe ratio: Return per unit of total volatility	0.12	—	—
Sortino ratio: Return per unit of downside risk	1.25	—	—
Omega ratio: Gain probability vs. loss probability	1.14	—	—
Calmar ratio: Return relative to maximum drawdown	0.18	—	—
Martin ratio: Return relative to average drawdown	0.28	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ORCX	TERG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.12	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	9.90	-9.91

Drawdowns

ORCX vs. TERG - Drawdown Comparison

The maximum ORCX drawdown since its inception was -85.98%, which is greater than TERG's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for ORCX and TERG.

Drawdown Indicators

	ORCX	TERG	Difference
Max Drawdown Largest peak-to-trough decline	-85.98%	-49.52%	-36.46%
Max Drawdown (1Y) Largest decline over 1 year	-85.98%	—	—
Current Drawdown Current decline from peak	-64.17%	-15.98%	-48.19%
Average Drawdown Average peak-to-trough decline	-44.40%	-13.73%	-30.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	57.49%	—	—

Volatility

Volatility by Period

	ORCX	TERG	Difference
Volatility (1M) Calculated over the trailing 1-month period	36.85%	—	—
Volatility (6M) Calculated over the trailing 6-month period	82.26%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	127.97%	139.25%	-11.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	121.00%	139.25%	-18.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	121.00%	139.25%	-18.25%

ORCX vs. TERG - Expense Ratio Comparison

ORCX has a 1.29% expense ratio, which is higher than TERG's 0.75% expense ratio.

Dividends

ORCX vs. TERG - Dividend Comparison

Neither ORCX nor TERG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ORCX and TERG in my portfolio?

ORCX and TERG have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ORCX or TERG?

On fees, TERG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ORCX or TERG?

TERG is cheaper with a 0.75% expense ratio, compared with 1.29% for ORCX.

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

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

What is the main difference between ORCX and TERG?

They also come from different issuers: Defiance and Leverage Shares. Their fees differ too: 1.29% for ORCX and 0.75% for TERG.