TSLQ vs. ORCS

Last updated Jul 15, 2026

TSLQ (Tradr 2X Short TSLA Daily ETF) and ORCS (Direxion Daily ORCL Bear 1X ETF) are both Inverse Equities funds. Both are actively managed. At a 0.38 correlation, their price movements are largely independent. TSLQ charges 1.17%/yr vs 0.97%/yr for ORCS.

Performance

TSLQ vs. ORCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Short TSLA Daily ETF (TSLQ) 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, TSLQ achieves a -1.10% return, which is significantly lower than ORCS's 29.11% return.

TSLQ

• 1D: -0.61%
• 1M: -2.23%
• 6M: -1.37%
• YTD: -1.10%
• 1Y: -62.15%
• 3Y*: -64.56%
• 5Y*: —
• 10Y*: —

ORCS

• 1D: 2.88%
• 1M: 40.95%
• 6M: 34.55%
• YTD: 29.11%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSLQ vs. ORCS - Yearly Performance Comparison

	2026 (YTD)	2025
TSLQ Tradr 2X Short TSLA Daily ETF	-1.10%	-24.03%
ORCS Direxion Daily ORCL Bear 1X ETF	29.11%	11.07%

Correlation

The correlation between TSLQ and ORCS is 0.38, 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	0.38

Return for Risk

TSLQ vs. ORCS — Risk / Return Rank

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

TSLQ

TSLQ Risk / Return Rank: 3
TSLQ Sharpe Ratio Rank: 4
TSLQ Sortino Ratio Rank: 4
TSLQ Omega Ratio Rank: 4
TSLQ Calmar Ratio Rank: 1
TSLQ Martin Ratio Rank: 4

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.

TSLQ vs. ORCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Short TSLA Daily ETF (TSLQ) 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.

	TSLQ	ORCS	Difference
Sharpe ratio: Return per unit of total volatility	-0.70	—	—
Sortino ratio: Return per unit of downside risk	-0.87	—	—
Omega ratio: Gain probability vs. loss probability	0.90	—	—
Calmar ratio: Return relative to maximum drawdown	-0.90	—	—
Martin ratio: Return relative to average drawdown	-1.14	—	—

Drawdowns

TSLQ vs. ORCS - Drawdown Comparison

The maximum TSLQ drawdown since its inception was -98.73%, which is greater than ORCS's maximum drawdown of -50.25%. Use the drawdown chart below to compare losses from any high point for TSLQ and ORCS.

Drawdown Indicators

	TSLQ	ORCS	Difference
Max Drawdown Largest peak-to-trough decline	-98.73%	-50.25%	-48.48%
Max Drawdown (1Y) Largest decline over 1 year	-69.32%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-97.85%	—	—
Current Drawdown Current decline from peak	-98.53%	-7.63%	-90.90%
Average Drawdown Average peak-to-trough decline	-68.04%	-16.35%	-51.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	54.54%	—	—

Volatility

Volatility by Period

	TSLQ	ORCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	34.45%	—	—
Volatility (6M) Calculated over the trailing 6-month period	62.84%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	89.53%	59.72%	+29.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	94.85%	59.72%	+35.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	94.85%	59.72%	+35.13%

TSLQ vs. ORCS - Expense Ratio Comparison

TSLQ has a 1.17% expense ratio, which is higher than ORCS's 0.97% expense ratio.

Dividends

TSLQ vs. ORCS - Dividend Comparison

TSLQ's dividend yield for the trailing twelve months is around 10.68%, more than ORCS's 1.11% yield.

Position	TTM	2025	2024	2023	2022
ORCS Direxion Daily ORCL Bear 1X ETF	1.11%	0.26%	0.00%	0.00%	0.00%
TSLQ Tradr 2X Short TSLA Daily ETF	10.68%	10.56%	4.95%	13.35%	2.56%

Frequently Asked Questions

Can I hold both TSLQ and ORCS in my portfolio?

TSLQ and ORCS have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TSLQ or ORCS?

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.

Which ETF is cheaper, TSLQ or ORCS?

ORCS is cheaper with a 0.97% expense ratio, compared with 1.17% for TSLQ.

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

TSLQ has the higher dividend yield at 10.68%, compared with 1.11% for ORCS.

What is the main difference between TSLQ and ORCS?

They also come from different issuers: Tradr and Direxion. Their fees differ too: 1.17% for TSLQ and 0.97% for ORCS.