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ORCX

GradeCNASDAQ Global Select

Daily Target 2X Long ORCL ETF

Leveraged · Single-Stock Leveraged · Defiance · Inception 2025-02-06

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.

$20.82−1.02 (−4.67%)

As of Sep 23, 2026, 2:20 PM EDT

History starts Feb 7, 2025.
Intraday session: down, 59 prints from 21.84 to 20.82. Range 20.81 to 21.39. Use the arrow keys to read each point.$21.00$21.20$21.4010 AM12 PM2 PM4 PM
Expense ratio
1.31%
Fund size
$247M
1Y return
−86.7%
Yield · Last 12 months
—
Holdings
10
Volume · 30D
2.8M sh
NAV per share
$21.69
52W range
low $13.71high $160.68

The ETF.net ORCX Grade

C

43/ 100

Rank 115 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for ORCX. Scores out of 100: Cost 27, Risk 27, Mission 98, Tradability 81, Holdings not scored, Durability 81. Strongest: Mission (98). Weakest: Risk (27). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 43 of 100 sits in the C 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.
    DScore 27
    Category rank276/380 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 98
    Category rank14/147 · top 10%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 27
    Category rank241/285 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 81
    Category rank46/380 · top 12%

  • 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.
    AScore 81
    Category rank19/380 · top 5%

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

Our read on ORCX

ETF.net Research

COracle's daily move, doubled. ORCX is one of only two US ETFs built to deliver 2x ORCL for a single day, and it has stayed close to that target. It is the pricier of the pair.

Stated mandate

The Fund seeks daily leveraged investment results equal to two times the daily percentage change in Oracle Corporation's share price.

Why people hold it

  1. 01Does exactly what the label says: it aims for two times Oracle's daily percentage move, and it has hit that daily target closely since launch.defianceetfs.com
  2. 02Actively traded for a single-stock leveraged fund, which is what matters most in a product you may hold for a day or two.
  3. 03A registered 1940 Act fund, not an ETN, so you get the standard fund wrapper rather than an issuer's credit promise.defianceetfs.com

Worth knowing

  1. 01At 1.36%, it costs more than the other 2x Oracle fund, ORCU, at 0.99%. Same reference stock, same multiple, different sticker.
  2. 02The 2x target resets daily. Hold longer than a day and compounding means your return can drift well away from 2x Oracle's move over that stretch, especially in choppy markets.
  3. 03One stock, amplified: every Oracle earnings gap or cloud-spending headline lands twice as hard, with no diversification to soften it. The fund launched in 2025, so its record is short.

ORCX Holdings

As of Sep 20, 2026, 5:08 AM
Asset class
Stocks
Holdings
10
Top-10 weight
273%
Largest holding
United States Treasury Bill 11/19/202667.2%

Sectors

Geography

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—United States Treasury Bill 11/19/202667.21%165,000,000$164M48
002—ORACLE CORP SWAP MS-L39.94%660,000$97M1
003—ORACLE CORP SWAP CF-L32.51%537,219$79M1
004—ORACLE CORP SWAP CS28.87%477,013$70M1
005—ORACLE CORP SWAP MAREX-L28.67%473,838$70M1
006—ORCL NOMURA28.25%466,840$69M1
007—ORACLE CORP SWAP NBC-L27.04%446,846$66M1
008—ORACLE CORP SWAP BMO14.69%242,686$36M1
009—First American Government Obligations Fund 12/01/20315.62%13,706,847$14M625

Showing 1–9 of 9 holdings

ORCX Performance

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

ORCX$1,328
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. ORCX $1,328. SPY $11,723. Use the arrow keys to read each point.$-28$6,303$12,635Sep 2025Mar 2026Sep 2026

Sep 22, 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 ORCX. Periods over one year show the average yearly return.
PeriodORCX
Year to date−57.7%
1 month+0.6%
3 months−35.0%
1 year−86.7%
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 ORCX
YearReturn barORCX
2026 YTD−57.7%
2025−16.2%

History from Feb 7, 2025

ORCX in the news

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

ORCX Dividends

This fund pays no distributions.
—Last 12 months
Payout per share
—Last 12 months

No distributions in the last 12 months.

ORCX 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.
137.1%
Annualised · 18 months to Aug 2026
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.
0.17
vs 3-month T-bills · 18 months to Aug 2026
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.
−91.7%
19 months · trough Jul 2026
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.
6.11
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.

ORCX Cost

Expense ratio1.31%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

241 of the 329 Single-Stock Long Leveraged funds charge less.

ORCX costs $131.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.