ORLG vs. AVGX

Last updated Jun 5, 2026

ORLG (Leverage Shares 2X Long ORLY Daily ETF) and AVGX (Defiance Daily Target 2X Long AVGO ETF) are both Leveraged Equities funds. ORLG is passively managed, while AVGX is actively managed. At a 0.05 correlation, their price movements are largely independent. ORLG charges 0.75%/yr vs 1.29%/yr for AVGX.

Performance

ORLG vs. AVGX - Performance Comparison

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

Returns By Period

ORLG

• 1D: 2.47%
• 1M: -14.84%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVGX

• 1D: -25.53%
• 1M: -8.40%
• YTD: 26.51%
• 6M: 0.84%
• 1Y: 84.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ORLG vs. AVGX - Yearly Performance Comparison

	2026 (YTD)
ORLG Leverage Shares 2X Long ORLY Daily ETF	-17.32%
AVGX Defiance Daily Target 2X Long AVGO ETF	30.40%

Correlation

The correlation between ORLG and AVGX is 0.05, 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 (All Time) Calculated using the full available price history since Jan 16, 2026	0.05

Return for Risk

ORLG vs. AVGX — Risk / Return Rank

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

AVGX

AVGX Risk / Return Rank: 31
AVGX Sharpe Ratio Rank: 27
AVGX Sortino Ratio Rank: 33
AVGX Omega Ratio Rank: 34
AVGX Calmar Ratio Rank: 32
AVGX Martin Ratio Rank: 26

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.

ORLG vs. AVGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long ORLY Daily ETF (ORLG) and Defiance Daily Target 2X Long AVGO ETF (AVGX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ORLG	AVGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.95	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.72	0.86	-1.58

Drawdowns

ORLG vs. AVGX - Drawdown Comparison

The maximum ORLG drawdown since its inception was -32.62%, smaller than the maximum AVGX drawdown of -70.97%. Use the drawdown chart below to compare losses from any high point for ORLG and AVGX.

Drawdown Indicators

	ORLG	AVGX	Difference
Max Drawdown Largest peak-to-trough decline	-32.62%	-70.97%	+38.35%
Max Drawdown (1Y) Largest decline over 1 year	—	-54.09%	—
Current Drawdown Current decline from peak	-29.31%	-26.15%	-3.16%
Average Drawdown Average peak-to-trough decline	-17.95%	-22.72%	+4.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	24.26%	—

Volatility

Volatility by Period

	ORLG	AVGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	38.30%	—
Volatility (6M) Calculated over the trailing 6-month period	—	68.61%	—
Volatility (1Y) Calculated over the trailing 1-year period	55.22%	89.63%	-34.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.22%	106.35%	-51.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.22%	106.35%	-51.13%

ORLG vs. AVGX - Expense Ratio Comparison

ORLG has a 0.75% expense ratio, which is lower than AVGX's 1.29% expense ratio.

Dividends

ORLG vs. AVGX - Dividend Comparison

ORLG has not paid dividends to shareholders, while AVGX's dividend yield for the trailing twelve months is around 1.31%.

Position	TTM	2025	2024
AVGX Defiance Daily Target 2X Long AVGO ETF	1.31%	1.65%	0.81%
ORLG Leverage Shares 2X Long ORLY Daily ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ORLG and AVGX in my portfolio?

ORLG and AVGX have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ORLG or AVGX?

On fees, ORLG 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, ORLG or AVGX?

ORLG is cheaper with a 0.75% expense ratio, compared with 1.29% for AVGX.

Which ETF pays a higher dividend yield, ORLG or AVGX?

AVGX has the higher dividend yield at 1.31%, compared with 0.00% for ORLG.

What is the main difference between ORLG and AVGX?

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