ORR vs. MOOD

Last updated Aug 2, 2026

ORR (Militia Long/Short Equity ETF) and MOOD (Relative Sentiment Tactical Allocation ETF) are both exchange-traded funds - ORR is a Long-Short fund actively managed by Militia, while MOOD is a Tactical Allocation fund actively managed by Alpha Architect. Both are actively managed. Over the past year, ORR returned 27.70% vs 32.12% for MOOD. Their 0.45 correlation means their historical movements had little consistent relationship. ORR charges 10.91%/yr vs 0.73%/yr for MOOD.

Performance

ORR vs. MOOD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Militia Long/Short Equity ETF (ORR) and Relative Sentiment Tactical Allocation ETF (MOOD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with ORR having a 13.55% return and MOOD slightly lower at 13.27%.

ORR

• 1D: 0.65%
• 1M: 5.52%
• 6M: 6.33%
• YTD: 13.55%
• 1Y: 27.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 30.08%

MOOD

• 1D: 0.04%
• 1M: -0.12%
• 6M: 5.83%
• YTD: 13.27%
• 1Y: 32.12%
• 3Y*: 19.14%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.16%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MOOD Relative Sentiment Tactical Allocation ETF	$594.91K	$566.29K	$735.34K
ORR Militia Long/Short Equity ETF	$2.18M	$2.70M	$4.06M

ORR vs. MOOD - Yearly Performance Comparison

	2026 (YTD)	2025
ORR Militia Long/Short Equity ETF	13.55%	31.99%
MOOD Relative Sentiment Tactical Allocation ETF	13.27%	29.57%

Correlation

The correlation between ORR and MOOD is 0.48, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.48
Correlation (All Time) Calculated using the full available price history since Jan 15, 2025	0.45

Return for Risk

ORR vs. MOOD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ORR

ORR Risk / Return Rank: 75
ORR Sharpe Ratio Rank: 84
ORR Sortino Ratio Rank: 82
ORR Omega Ratio Rank: 80
ORR Calmar Ratio Rank: 79
ORR Martin Ratio Rank: 53

MOOD

MOOD Risk / Return Rank: 84
MOOD Sharpe Ratio Rank: 89
MOOD Sortino Ratio Rank: 80
MOOD Omega Ratio Rank: 90
MOOD Calmar Ratio Rank: 85
MOOD Martin Ratio Rank: 78

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ORR vs. MOOD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Militia Long/Short Equity ETF (ORR) and Relative Sentiment Tactical Allocation ETF (MOOD). 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.

	ORR	MOOD	Difference
Sharpe ratio: Return per unit of total volatility	1.92	2.14	-0.21
Sortino ratio: Return per unit of downside risk	2.69	2.57	+0.12
Omega ratio: Gain probability vs. loss probability	1.33	1.42	-0.08
Calmar ratio: Return relative to maximum drawdown	2.79	3.23	-0.45
Martin ratio: Return relative to average drawdown	6.17	9.79	-3.62

ORR vs. MOOD - Sharpe Ratio Comparison

The current ORR Sharpe Ratio is 1.92, which is comparable to the MOOD Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of ORR and MOOD, 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

ORR vs. MOOD - Drawdown Comparison

The maximum ORR drawdown since its inception was -9.90%, smaller than the maximum MOOD drawdown of -14.34%. Use the drawdown chart below to compare losses from any high point for ORR and MOOD.

Drawdown Indicators

	ORR	MOOD	Difference
Max Drawdown Largest peak-to-trough decline	-9.90%	-14.34%	+4.44%
Max Drawdown (1Y) Largest decline over 1 year	-9.90%	-9.71%	-0.19%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.71%	—
Current Drawdown Current decline from peak	-0.74%	-2.08%	+1.34%
Average Drawdown Average peak-to-trough decline	-2.60%	-2.30%	-0.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.47%	3.20%	+1.27%

Volatility

ORR vs. MOOD - Volatility Comparison

Militia Long/Short Equity ETF (ORR) has a higher volatility of 4.43% compared to Relative Sentiment Tactical Allocation ETF (MOOD) at 2.45%. This indicates that ORR's price experiences larger fluctuations and is considered to be riskier than MOOD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ORR	MOOD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	2.45%	+1.98%
Volatility (6M) Calculated over the trailing 6-month period	11.54%	12.23%	-0.69%
Volatility (1Y) Calculated over the trailing 1-year period	14.41%	14.69%	-0.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.36%	12.09%	+3.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.36%	12.09%	+3.27%

ORR vs. MOOD - Expense Ratio Comparison

ORR has a 10.91% expense ratio, which is higher than MOOD's 0.73% expense ratio.

Dividends

ORR vs. MOOD - Dividend Comparison

ORR has not paid dividends to shareholders, while MOOD's dividend yield for the trailing twelve months is around 0.36%.

Position	TTM	2025	2024	2023	2022
MOOD Relative Sentiment Tactical Allocation ETF	0.36%	0.40%	1.33%	1.34%	1.43%
ORR Militia Long/Short Equity ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ORR and MOOD in my portfolio?

ORR and MOOD have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ORR or MOOD?

ORR has higher volatility (4.43%) compared to MOOD (2.45%). In terms of maximum drawdown, ORR dropped -9.90% vs MOOD's -14.34%.

Which ETF is better, ORR or MOOD?

On 1-year performance, MOOD leads with 32.12% vs 27.70% for ORR. On fees, MOOD is cheaper at 0.73% per year. On volatility, MOOD has been the lower-risk option at 2.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ORR or MOOD?

Over the 1-year period, MOOD has performed better with a 32.12% return vs 27.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ORR or MOOD?

MOOD is cheaper with a 0.73% expense ratio, compared with 10.91% for ORR.

Which ETF pays a higher dividend yield, ORR or MOOD?

MOOD has the higher dividend yield at 0.36%, compared with 0.00% for ORR.

What is the main difference between ORR and MOOD?

ORR is categorized as Long-Short, while MOOD is Tactical Allocation. They also come from different issuers: Militia and Alpha Architect. Their fees differ too: 10.91% for ORR and 0.73% for MOOD.

Which has better risk-adjusted returns?

MOOD currently has the higher Sharpe Ratio (2.14 vs 1.92), 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.