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Direxion Daily ORCL Bear 1X ETF

ORCSNasdaqDirexionAThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$33.79+2.75 (+8.87%)

At close: Nov 2, 2026, 4:00 PM ET

A73/ 100

Rank 11 of 58 in Single-Stock Inverse

A73/100Rank 11 of 58inSingle-Stock Inverse
Intraday session: up, 79 prints from 31.04 to 33.79. Range 32.30 to 33.86. Use the arrow keys to read each point.31.5032.0032.5033.0010 AM12 PM2 PM4 PM
Expense ratio
0.97%*
Fund size
$7M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
4
Avg volume · 30D
56.6K sh
52W range
low $18.70high $38.55
Launched

*After a fee waiver that ends Sep 1, 2027. Without it: 0.99%.

The ETF.net ORCS Grade

Based on 5 of 6 pillars

A

Score 73 out of 100

Category
Single-Stock Inverse⁠
Rank
11 of 58
Six-pillar profile for ORCS. Scores out of 100: Cost 94, Risk 80, Mission 74, Tradability 33, Holdings not scored, Durability 48. Strongest: Cost (94). Weakest: Tradability (33). Based on 5 of 6 pillars.

Score 73 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    A94 out of 100
    Rank 4 of 58

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A74 out of 100
    Rank 32 of 32

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A80 out of 100
    Rank 3 of 54

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D33 out of 100
    Rank 44 of 58

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C48 out of 100
    Rank 31 of 58

Our read on ORCS

ETF.net Research

In short

AThe unleveraged short on Oracle. ORCS aims to deliver 100% of the inverse of ORCL's move each day, reset daily, so bearish exposure arrives as a regular ETF share instead of a margin ticket and a stock borrow.

Stated mandate

The fund seeks daily investment results equal to 100% of the inverse of Oracle Corporation common shares. Its objective is reset daily and is designed for short-term use rather than tracking the stock over longer periods.

Why people hold it

  • 0.97% net of a waiver through September 1, 2027 (0.99% gross), below the category's typical fee and in line with Direxion siblings AAPD at 0.96% and TSLS at 0.95%.
  • Short exposure in a plain ETF share: no margin account to maintain, no shares to locate and borrow, no dividends owed on a short position.direxion.comsec.gov
  • One times inverse, not two or three. It targets the opposite of Oracle's daily move one-for-one, the mildest gear on a single-stock shelf mostly built for amplified bets.direxion.com
  • Lands in the top quartile of its single-stock bear peer group, helped by sitting on the cheaper side of a category where fees do real damage.

Worth knowing

  • Daily reset. Hold past one session and returns compound day by day, which can land far from -100% of Oracle's move over the stretch, especially in a choppy tape.sec.gov
  • Young (launched November 2025) and moderately traded, so the bid/ask spread is part of what you pay getting in and out.
  • One stock, one direction. Oracle's own headlines drive the whole ride, with no diversification in the portfolio to soften a surprise.sec.gov

ORCS Holdings

Asset class
Other
Holdings
4
Top-10 weight
1926%
Largest holding
Dreyfus Govt Cash Man Ins1327.9%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataDreyfus Govt Cash Man Ins1327.85%4,762,779$4.76M105
2No dataGoldman Sachs Fin Gov 465 Institut359.65%1,290,000$1.29M69
3No dataGoldman Finl Sq Trsry Inst 506155.11%556,368$556K95
4No dataDreyfus Trsry Securities Cash Mgmt83.42%299,226$299K77

Showing 1–4 of 4 holdings

ORCS Performance

Launched Nov 19, 2025

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
ORCS$11,548
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,169
Dec 31, 2025 to Oct 30, 2026. ORCS $11,548. SPY $11,169. Use the arrow keys to read each point.$7,500$10,000$12,500Dec 2025Jun 2026Oct 2026

Dec 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for ORCS. Periods over one year show the average yearly return.
PeriodORCS
Year to date+15.5%
1 month+1.6%
3 months−7.4%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for ORCS
YearReturn barORCS
2026 YTD+15.5%
2025+12.3%

Since listing, Nov 19, 2025

ORCS in the news

ORCS Dividends

Last payment
$0.22 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 4 payments from 2025 to 2026 YTD. Dec 23, 2025 $0.07; Mar 24, 2026 $0.16; Jun 23, 2026 $0.16; Sep 22, 2026 $0.22. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 22, 2026Sep 29, 2026$0.22
Jun 23, 2026Jun 30, 2026$0.16
Mar 24, 2026Mar 31, 2026$0.16
Dec 23, 2025Dec 31, 2025$0.07

ORCS Risk

Risk pillarA80 out of 100Rank 3 of 54 in Single-Stock Inverse

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
Launched Nov 2025; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
Launched Nov 2025; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
Launched Nov 2025; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
−2.04
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

ORCS Cost

Compare ORCS and SKHZ

Overpaying vs SKHZ, cheapest in Single-Stock Inverse

$3,716

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • ORCS 0.97%

    $18,198

  • SKHZ 0.75% Cheapest

    $14,482

$10,000
30 years

Cost over time

  • ORCS 0.97%
  • SKHZ 0.75%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530ORCS $18,198SKHZ $14,482

Year by year

YearORCSSKHZOverpaying
10$1,712$1,336$376
20$6,443$5,078$1,365
30$18,198$14,482$3,716
How the 0.97% is worked out

Full fee 0.99%− waiver 0.02%= you pay 0.97%

The waiver ends Sep 1, 2027. After that the fee is 0.99% unless Direxion renews it. Source: prospectus, Mar 2026.

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