ORCX vs. USOY

Last updated Jun 24, 2026

ORCX (Defiance Daily Target 2X Long ORCL ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - ORCX is a Leveraged Equities fund actively managed by Defiance, while USOY is a Derivative Income fund actively managed by Defiance. Both are actively managed. Over the past year, ORCX returned -60.79% vs 26.28% for USOY. At a 0.07 correlation, their price movements are largely independent. ORCX charges 1.29%/yr vs 1.22%/yr for USOY.

Performance

ORCX vs. USOY - 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 Oil Enhanced Options Income ETF (USOY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ORCX achieves a -42.52% return, which is significantly lower than USOY's 34.69% return.

ORCX

• 1D: -11.52%
• 1M: -30.81%
• YTD: -42.52%
• 6M: -42.95%
• 1Y: -60.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOY

• 1D: -1.29%
• 1M: -17.01%
• YTD: 34.69%
• 6M: 34.18%
• 1Y: 26.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ORCX vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025
ORCX Defiance Daily Target 2X Long ORCL ETF	-42.52%	-16.64%
USOY Defiance Oil Enhanced Options Income ETF	34.69%	-9.14%

Correlation

The correlation between ORCX and USOY is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Feb 7, 2025	0.07

Return for Risk

ORCX vs. USOY — Risk / Return Rank

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

ORCX

ORCX Risk / Return Rank: 5
ORCX Sharpe Ratio Rank: 5
ORCX Sortino Ratio Rank: 6
ORCX Omega Ratio Rank: 6
ORCX Calmar Ratio Rank: 3
ORCX Martin Ratio Rank: 4

USOY

USOY Risk / Return Rank: 26
USOY Sharpe Ratio Rank: 25
USOY Sortino Ratio Rank: 23
USOY Omega Ratio Rank: 26
USOY Calmar Ratio Rank: 27
USOY Martin Ratio Rank: 30

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. USOY - 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 Oil Enhanced Options Income ETF (USOY). 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	USOY	Difference
Sharpe ratio: Return per unit of total volatility	-0.47	0.85	-1.32
Sortino ratio: Return per unit of downside risk	-0.23	1.24	-1.48
Omega ratio: Gain probability vs. loss probability	0.97	1.18	-0.20
Calmar ratio: Return relative to maximum drawdown	-0.71	1.25	-1.95
Martin ratio: Return relative to average drawdown	-1.01	4.10	-5.12

ORCX vs. USOY - Sharpe Ratio Comparison

The current ORCX Sharpe Ratio is -0.47, which is lower than the USOY Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of ORCX and USOY, 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. USOY - Drawdown Comparison

The maximum ORCX drawdown since its inception was -85.98%, which is greater than USOY's maximum drawdown of -21.19%. Use the drawdown chart below to compare losses from any high point for ORCX and USOY.

Drawdown Indicators

	ORCX	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-85.98%	-21.19%	-64.79%
Max Drawdown (1Y) Largest decline over 1 year	-85.98%	-21.19%	-64.79%
Current Drawdown Current decline from peak	-82.28%	-21.19%	-61.09%
Average Drawdown Average peak-to-trough decline	-45.42%	-6.63%	-38.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	59.96%	6.44%	+53.52%

Volatility

ORCX vs. USOY - Volatility Comparison

Defiance Daily Target 2X Long ORCL ETF (ORCX) has a higher volatility of 49.57% compared to Defiance Oil Enhanced Options Income ETF (USOY) at 10.34%. This indicates that ORCX's price experiences larger fluctuations and is considered to be riskier than USOY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ORCX	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	49.57%	10.34%	+39.23%
Volatility (6M) Calculated over the trailing 6-month period	84.44%	28.44%	+56.00%
Volatility (1Y) Calculated over the trailing 1-year period	129.20%	31.56%	+97.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	122.13%	26.51%	+95.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	122.13%	26.51%	+95.62%

ORCX vs. USOY - Expense Ratio Comparison

ORCX has a 1.29% expense ratio, which is higher than USOY's 1.22% expense ratio.

Dividends

ORCX vs. USOY - Dividend Comparison

ORCX has not paid dividends to shareholders, while USOY's dividend yield for the trailing twelve months is around 68.29%.

Position	TTM	2025	2024
ORCX Defiance Daily Target 2X Long ORCL ETF	0.00%	0.00%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	68.29%	104.32%	48.60%

Frequently Asked Questions

Can I hold both ORCX and USOY in my portfolio?

ORCX and USOY have a correlation of -0.01, 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 USOY?

ORCX has higher volatility (49.57%) compared to USOY (10.34%). In terms of maximum drawdown, ORCX dropped -85.98% vs USOY's -21.19%.

Which ETF is better, ORCX or USOY?

On 1-year performance, USOY leads with 26.28% vs -60.79% for ORCX. On fees, USOY is cheaper at 1.22% per year. On volatility, USOY has been the lower-risk option at 10.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ORCX or USOY?

Over the 1-year period, USOY has performed better with a 26.28% return vs -60.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ORCX or USOY?

USOY is cheaper with a 1.22% expense ratio, compared with 1.29% for ORCX.

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

USOY has the higher dividend yield at 68.29%, compared with 0.00% for ORCX.

What is the main difference between ORCX and USOY?

ORCX is categorized as Leveraged Equities, while USOY is Derivative Income. Their fees differ too: 1.29% for ORCX and 1.22% for USOY.

Which has better risk-adjusted returns?

USOY currently has the higher Sharpe Ratio (0.85 vs -0.47), 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.