TQQY vs. ORLG

Last updated Jul 17, 2026

TQQY (GraniteShares YieldBOOST QQQ ETF) and ORLG (Leverage Shares 2X Long ORLY Daily ETF) are both Leveraged Equities funds. TQQY is actively managed, while ORLG is passively managed. At a correlation of -0.01, they often move in opposite directions. TQQY charges 1.07%/yr vs 0.75%/yr for ORLG.

Performance

TQQY vs. ORLG - Performance Comparison

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

Returns By Period

TQQY

• 1D: -1.13%
• 1M: 0.33%
• 6M: 4.24%
• YTD: 4.85%
• 1Y: 7.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ORLG

• 1D: 8.37%
• 1M: -11.93%
• 6M: -23.86%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TQQY vs. ORLG - Yearly Performance Comparison

	2026 (YTD)
TQQY GraniteShares YieldBOOST QQQ ETF	5.34%
ORLG Leverage Shares 2X Long ORLY Daily ETF	-25.87%

Correlation

The correlation between TQQY and ORLG is -0.01, 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 15, 2026	-0.01

Return for Risk

TQQY vs. ORLG — Risk / Return Rank

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

TQQY

TQQY Risk / Return Rank: 15
TQQY Sharpe Ratio Rank: 15
TQQY Sortino Ratio Rank: 14
TQQY Omega Ratio Rank: 16
TQQY Calmar Ratio Rank: 15
TQQY Martin Ratio Rank: 15

ORLG

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.

TQQY vs. ORLG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares YieldBOOST QQQ ETF (TQQY) and Leverage Shares 2X Long ORLY Daily ETF (ORLG). 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.

	TQQY	ORLG	Difference
Sharpe ratio: Return per unit of total volatility	0.34	—	—
Sortino ratio: Return per unit of downside risk	0.54	—	—
Omega ratio: Gain probability vs. loss probability	1.09	—	—
Calmar ratio: Return relative to maximum drawdown	0.38	—	—
Martin ratio: Return relative to average drawdown	0.89	—	—

Drawdowns

TQQY vs. ORLG - Drawdown Comparison

The maximum TQQY drawdown since its inception was -26.06%, smaller than the maximum ORLG drawdown of -39.93%. Use the drawdown chart below to compare losses from any high point for TQQY and ORLG.

Drawdown Indicators

	TQQY	ORLG	Difference
Max Drawdown Largest peak-to-trough decline	-26.06%	-39.93%	+13.87%
Max Drawdown (1Y) Largest decline over 1 year	-19.35%	—	—
Current Drawdown Current decline from peak	-6.34%	-34.91%	+28.57%
Average Drawdown Average peak-to-trough decline	-9.71%	-20.65%	+10.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.17%	—	—

Volatility

Volatility by Period

	TQQY	ORLG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.52%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.81%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	21.32%	59.08%	-37.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.32%	59.08%	-35.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.32%	59.08%	-35.76%

TQQY vs. ORLG - Expense Ratio Comparison

TQQY has a 1.07% expense ratio, which is higher than ORLG's 0.75% expense ratio.

Dividends

TQQY vs. ORLG - Dividend Comparison

TQQY's dividend yield for the trailing twelve months is around 60.50%, while ORLG has not paid dividends to shareholders.

Position	TTM	2025
ORLG Leverage Shares 2X Long ORLY Daily ETF	0.00%	0.00%
TQQY GraniteShares YieldBOOST QQQ ETF	60.50%	49.61%

Frequently Asked Questions

Can I hold both TQQY and ORLG in my portfolio?

TQQY and ORLG have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TQQY or ORLG?

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, TQQY or ORLG?

ORLG is cheaper with a 0.75% expense ratio, compared with 1.07% for TQQY.

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

TQQY has the higher dividend yield at 60.50%, compared with 0.00% for ORLG.

What is the main difference between TQQY and ORLG?

They also come from different issuers: GraniteShares and Leverage Shares. Their fees differ too: 1.07% for TQQY and 0.75% for ORLG.