ORLG vs. HODU

Last updated Jun 4, 2026

ORLG (Leverage Shares 2X Long ORLY Daily ETF) and HODU (Direxion Daily HOOD Bull 2X ETF) are both Leveraged Equities funds. ORLG is passively managed, while HODU is actively managed. At a 0.05 correlation, their price movements are largely independent. ORLG charges 0.75%/yr vs 0.97%/yr for HODU.

Performance

ORLG vs. HODU - Performance Comparison

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

Returns By Period

ORLG

• 1D: 2.37%
• 1M: -14.98%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HODU

• 1D: -12.12%
• 1M: 10.35%
• YTD: -60.56%
• 6M: -72.71%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ORLG vs. HODU - Yearly Performance Comparison

	2026 (YTD)
ORLG Leverage Shares 2X Long ORLY Daily ETF	-19.31%
HODU Direxion Daily HOOD Bull 2X ETF	-57.73%

Correlation

The correlation between ORLG and HODU 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. HODU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long ORLY Daily ETF (ORLG) and Direxion Daily HOOD Bull 2X ETF (HODU). 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	HODU	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.79	-0.60	-0.19

Drawdowns

ORLG vs. HODU - Drawdown Comparison

The maximum ORLG drawdown since its inception was -32.62%, smaller than the maximum HODU drawdown of -81.62%. Use the drawdown chart below to compare losses from any high point for ORLG and HODU.

Drawdown Indicators

	ORLG	HODU	Difference
Max Drawdown Largest peak-to-trough decline	-32.62%	-81.62%	+49.00%
Current Drawdown Current decline from peak	-31.02%	-74.01%	+42.99%
Average Drawdown Average peak-to-trough decline	-17.83%	-56.30%	+38.47%

Volatility

Volatility by Period

	ORLG	HODU	Difference
Volatility (1Y) Calculated over the trailing 1-year period	55.34%	146.22%	-90.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.34%	146.22%	-90.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.34%	146.22%	-90.88%

ORLG vs. HODU - Expense Ratio Comparison

ORLG has a 0.75% expense ratio, which is lower than HODU's 0.97% expense ratio.

Dividends

ORLG vs. HODU - Dividend Comparison

ORLG has not paid dividends to shareholders, while HODU's dividend yield for the trailing twelve months is around 1.58%.

Position	TTM	2025
HODU Direxion Daily HOOD Bull 2X ETF	1.58%	0.31%
ORLG Leverage Shares 2X Long ORLY Daily ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both ORLG and HODU in my portfolio?

ORLG and HODU 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 HODU?

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 HODU?

ORLG is cheaper with a 0.75% expense ratio, compared with 0.97% for HODU.

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

HODU has the higher dividend yield at 1.58%, compared with 0.00% for ORLG.

What is the main difference between ORLG and HODU?

They also come from different issuers: Leverage Shares and Direxion. Their fees differ too: 0.75% for ORLG and 0.97% for HODU.