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ORCS

GradeANASDAQ Global Market

Direxion Daily ORCL Bear 1X ETF

Leveraged · Single-Stock Leveraged · Direxion · Inception 2025-11-19

This 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.

$28.91+0.62 (+2.19%)

As of Sep 23, 2026, 2:13 PM EDT

History starts Nov 19, 2025.History starts Nov 19, 2025.
Intraday session: up, 46 prints from 28.29 to 28.91. Range 28.50 to 28.91. Use the arrow keys to read each point.$28.50$28.60$28.70$28.8010 AM12 PM2 PM4 PM
Expense ratio
0.99%
Fund size
$7M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0.1M sh
NAV per share
$28.20
52W range
low $18.70high $38.55

The ETF.net ORCS Grade

A

72/ 100

Rank 13 of 58 in Single-Stock Inverse⁠

Confidence High

Six-pillar profile for ORCS. Scores out of 100: Cost 93, Risk 77, Mission 77, Tradability 27, Holdings not scored, Durability 50. Strongest: Cost (93). Weakest: Tradability (27). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 72 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    AScore 93
    Category rank4/58 · top 7%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 77
    Category rank31/31 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 77
    Category rank5/48 · top 10%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 27
    Category rank48/58 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 50
    Category rank28/58 · top 48%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on ORCS

ETF.net Research

AA straight one-for-one short on Oracle, wrapped in a ticker any brokerage account can buy: no margin, no borrow. The exposure resets every day, so it is built as a short-term trading tool.

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

  1. 01Costs 0.99% a year, under the 1.29% median for inverse single-stock funds and below Direxion's own MSFT bear fund, MSFD.
  2. 02Unleveraged by design: it aims for 100% of the inverse of Oracle's daily move, not double, so a bad day stings one-for-one.direxion.com
  3. 03Bearish exposure without borrowing shares or opening a margin account, and losses are limited to what you put in rather than open-ended like a direct short.direxion.com

Worth knowing

  1. 01The objective resets daily. Hold past a day and returns compound off each close, so a choppy stretch in Oracle can pull results away from the stock's inverse move.
  2. 02One company, one bet. Oracle earnings, guidance, or contract headlines drive the whole thing, with no diversification to soften the swing.
  3. 03Launched in 2025, so there is little history to judge it by, and it is smaller than long-running single-stock bear funds like TSLS and AAPD.

ORCS Holdings

As of Sep 22, 2026, 10:02 PM
Asset class
Other
Holdings
—
Top-10 weight
5207%
Largest holding
DREYFUS GOVT CASH MAN INS3451.5%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—DREYFUS GOVT CASH MAN INS3451.50%4,830,893$5M108
002—GOLDMAN FINL SQ TRSRY INST 5061107.41%1,549,985$2M100
003—DREYFUS TRSRY SECURITIES CASH MGMT412.60%577,497$577K82
004—GOLDMAN SACHS FIN GOV 465 INSTITUT235.77%330,000$330K75

Showing 1–4 of 4 holdings

ORCS Performance

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

ORCS$10,444
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. ORCS $10,444. SPY $11,430. Use the arrow keys to read each point.$6,371$10,586$14,801Dec 2025May 2026Sep 2026

Dec 31, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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+4.4%
1 month−3.8%
3 months+9.2%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, 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+4.4%
2025+12.3%

Since listing, Nov 19, 2025

ORCS in the news

ETF.net Research hasn’t filed on ORCS yet — coverage lands here as it’s written.

ORCS Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.16 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. 3 payments from 2025 to 2026 YTD. Dec 23, 2025 $0.07; Mar 24, 2026 $0.16; Jun 23, 2026 $0.16. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Jun 23, 2026Jun 30, 2026$0.16
Mar 24, 2026Mar 31, 2026$0.16
Dec 23, 2025Dec 31, 2025$0.07

ORCS Risk

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.

ORCS Cost

Expense ratio0.99%
  • The middle half of Single-Stock Inverse funds
  • Median 1.35%

3 of the 43 Single-Stock Inverse funds charge less.

ORCS costs $99.00 a year on $10,000. The median Single-Stock Inverse fund costs $135.00.