SMCZ vs. ORCS
SMCZ (Defiance Daily Target 2X Short SMCI ETF) and ORCS (Direxion Daily ORCL Bear 1X ETF) are both Inverse Equities funds. Both are actively managed. At a 0.42 correlation, their price movements are largely independent. SMCZ charges 1.29%/yr vs 0.97%/yr for ORCS.
Performance
SMCZ vs. ORCS - Performance Comparison
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Returns By Period
In the year-to-date period, SMCZ achieves a -83.19% return, which is significantly lower than ORCS's 25.50% return.
SMCZ
- 1D
- 4.71%
- 1M
- -3.17%
- 6M
- -81.70%
- YTD
- -83.19%
- 1Y
- -74.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ORCS
- 1D
- 6.26%
- 1M
- 37.01%
- 6M
- 32.40%
- YTD
- 25.50%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMCZ vs. ORCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SMCZ Defiance Daily Target 2X Short SMCI ETF | -83.19% | 27.37% |
ORCS Direxion Daily ORCL Bear 1X ETF | 25.50% | 11.07% |
Correlation
The correlation between SMCZ and ORCS is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 19, 2025 | 0.42 |
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Return for Risk
SMCZ vs. ORCS — Risk / Return Rank
SMCZ
ORCS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SMCZ vs. ORCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short SMCI ETF (SMCZ) 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.
| SMCZ | ORCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.01 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | — | — |
| Martin ratioReturn relative to average drawdown | -1.64 | — | — |
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Drawdowns
SMCZ vs. ORCS - Drawdown Comparison
The maximum SMCZ drawdown since its inception was -97.40%, which is greater than ORCS's maximum drawdown of -50.25%. Use the drawdown chart below to compare losses from any high point for SMCZ and ORCS.
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Drawdown Indicators
| SMCZ | ORCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.40% | -50.25% | -47.15% |
Max Drawdown (1Y)Largest decline over 1 year | -91.49% | — | — |
Current DrawdownCurrent decline from peak | -95.08% | -10.21% | -84.87% |
Average DrawdownAverage peak-to-trough decline | -77.09% | -16.41% | -60.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 45.43% | — | — |
Volatility
SMCZ vs. ORCS - Volatility Comparison
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Volatility by Period
| SMCZ | ORCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 61.93% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 151.92% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 173.06% | 59.82% | +113.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 173.26% | 59.82% | +113.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 173.26% | 59.82% | +113.44% |
SMCZ vs. ORCS - Expense Ratio Comparison
SMCZ has a 1.29% expense ratio, which is higher than ORCS's 0.97% expense ratio.
Dividends
SMCZ vs. ORCS - Dividend Comparison
SMCZ's dividend yield for the trailing twelve months is around 12.08%, more than ORCS's 1.14% yield.
| Position | TTM | 2025 |
|---|---|---|
ORCS Direxion Daily ORCL Bear 1X ETF | 1.14% | 0.26% |
SMCZ Defiance Daily Target 2X Short SMCI ETF | 12.08% | 2.03% |
Frequently Asked Questions
SMCZ and ORCS have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ORCS is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ORCS is cheaper with a 0.97% expense ratio, compared with 1.29% for SMCZ.
SMCZ has the higher dividend yield at 12.08%, compared with 1.14% for ORCS.
They also come from different issuers: Defiance and Direxion. Their fees differ too: 1.29% for SMCZ and 0.97% for ORCS.
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