SARK vs. ORCS

Last updated Jul 16, 2026

SARK (Tradr Short Innovation Daily ETF) and ORCS (Direxion Daily ORCL Bear 1X ETF) are both Inverse Equities funds. Both are actively managed. A 0.58 correlation means they provide meaningful diversification when combined. SARK charges 0.75%/yr vs 0.97%/yr for ORCS.

Performance

SARK vs. ORCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr Short Innovation Daily ETF (SARK) and Direxion Daily ORCL Bear 1X ETF (ORCS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SARK achieves a -9.84% return, which is significantly lower than ORCS's 24.83% return.

SARK

• 1D: -0.04%
• 1M: -0.56%
• 6M: -2.21%
• YTD: -9.84%
• 1Y: -18.77%
• 3Y*: -27.77%
• 5Y*: —
• 10Y*: —

ORCS

• 1D: -3.32%
• 1M: 42.86%
• 6M: 24.76%
• YTD: 24.83%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SARK vs. ORCS - Yearly Performance Comparison

	2026 (YTD)	2025
SARK Tradr Short Innovation Daily ETF	-9.84%	-3.73%
ORCS Direxion Daily ORCL Bear 1X ETF	24.83%	11.07%

Correlation

The correlation between SARK and ORCS is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 19, 2025	0.58

Return for Risk

SARK vs. ORCS — Risk / Return Rank

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

SARK

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

ORCS

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

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.

SARK vs. ORCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr Short Innovation Daily ETF (SARK) and Direxion Daily ORCL Bear 1X ETF (ORCS). 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.

	SARK	ORCS	Difference
Sharpe ratio: Return per unit of total volatility	-0.52	—	—
Sortino ratio: Return per unit of downside risk	-0.56	—	—
Omega ratio: Gain probability vs. loss probability	0.94	—	—
Calmar ratio: Return relative to maximum drawdown	-0.72	—	—
Martin ratio: Return relative to average drawdown	-1.26	—	—

Drawdowns

SARK vs. ORCS - Drawdown Comparison

The maximum SARK drawdown since its inception was -81.07%, which is greater than ORCS's maximum drawdown of -50.25%. Use the drawdown chart below to compare losses from any high point for SARK and ORCS.

Drawdown Indicators

	SARK	ORCS	Difference
Max Drawdown Largest peak-to-trough decline	-81.07%	-50.25%	-30.82%
Max Drawdown (1Y) Largest decline over 1 year	-26.34%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-74.42%	—	—
Current Drawdown Current decline from peak	-80.10%	-10.69%	-69.41%
Average Drawdown Average peak-to-trough decline	-47.22%	-16.32%	-30.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.02%	—	—

Volatility

Volatility by Period

	SARK	ORCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.61%	—	—
Volatility (6M) Calculated over the trailing 6-month period	26.73%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	35.95%	59.71%	-23.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.88%	59.71%	-3.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.88%	59.71%	-3.83%

SARK vs. ORCS - Expense Ratio Comparison

SARK has a 0.75% expense ratio, which is lower than ORCS's 0.97% expense ratio.

Dividends

SARK vs. ORCS - Dividend Comparison

SARK's dividend yield for the trailing twelve months is around 3.13%, more than ORCS's 1.15% yield.

Position	TTM	2025	2024	2023	2022
ORCS Direxion Daily ORCL Bear 1X ETF	1.15%	0.26%	0.00%	0.00%	0.00%
SARK Tradr Short Innovation Daily ETF	3.13%	2.82%	15.49%	12.57%	25.22%

Frequently Asked Questions

Can I hold both SARK and ORCS in my portfolio?

SARK and ORCS have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SARK or ORCS?

On fees, SARK 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, SARK or ORCS?

SARK is cheaper with a 0.75% expense ratio, compared with 0.97% for ORCS.

Which ETF pays a higher dividend yield, SARK or ORCS?

SARK has the higher dividend yield at 3.13%, compared with 1.15% for ORCS.

What is the main difference between SARK and ORCS?

They also come from different issuers: AXS and Direxion. Their fees differ too: 0.75% for SARK and 0.97% for ORCS.