Skip to content
etf.net

ORCS vs TSLS

Direxion Daily ORCL Bear 1X ETF

ORCSANasdaq

Direxion Daily TSLA Bear 1X ETF

TSLSANasdaq

Overlap

Expense ratio

TSLS −0.02pt a year

ORCS0.97%TSLS0.95%

Avg volume · 30D

TSLS 7.2×the volume

ORCS56.6KTSLS410K

ORCS vs TSLS Performance

Dec 31, 2025 – Oct 30, 2026

+15.5%ORCS+1.5%TSLS

Dec 31, 2025 to Oct 30, 2026. ORCS +15.5%. TSLS +1.5%. Use the arrow keys to read each point.−20%40%Dec 2025Jun 2026Oct 2026
Expense ratio
ORCS 0.97%
TSLS 0.95%, better
Fund size
ORCS $7M
TSLS $39M
1Y total return
ORCS No data
TSLS +1.0%
Yield (12M)
ORCS No data
TSLS 3.11%
Holdings
ORCS 4
TSLS 4
Avg volume (30D)
ORCS 56.6K sh
TSLS 410K sh, better
NAV per share
ORCS $29.11
TSLS $50.04
52W range

ETF.net Grade

ORCS: Cost 94, Risk 80, Mission 74, Tradability 33, Holdings not scored, Durability 48. TSLS: Cost 97, Risk 75, Mission 87, Tradability 45, Holdings not scored, Durability 82.
Pillar letters and Scores for ORCS, TSLS, with each pillar’s weight
PillarORCSTSLS
Cost30% weightA94A97Higher
Mission25% weightA74A87Higher
Risk15% weightA80HigherA75
Tradability15% weightD33C45Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC48A82Higher

Rank among Single-Stock Inverse funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. ORCS and TSLS are both graded against the same 43 Single-Stock Inverse funds, so their Grades compare head to head.

Single-Stock Inverse⁠

Category · 43 funds
See all 43 ›

TSLS ranks 3rd and ORCS 11th of 43 funds in the Single-Stock Inverse Category.

  1. Rank 1AAAPDDirexion Daily AAPL Bear 1X ETFScore 86
  2. Rank 2ATSDDGraniteShares 2x Short TSLA Daily ETFScore 84
  3. Rank 3ASKHZLeverage Shares 1X Short SK Hynix Daily ETFScore 81
  4. Rank 3ATSLSDirexion Daily TSLA Bear 1X ETFScore 81
  5. Rank 5AAMZDDirexion Daily AMZN Bear 1X ETFScore 80
  6. Rank 11ANVDDDirexion Daily NVDA Bear 1X ETFScore 73
  7. Rank 11AORCSDirexion Daily ORCL Bear 1X ETFScore 73
  8. Rank 13AMETDDirexion Daily META Bear 1X ETFScore 71

Our read on each fund

ETF.net Research

ORCSADirexion Daily ORCL Bear 1X ETF

TSLSADirexion Daily TSLA Bear 1X ETF

In short

ORCS The 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.

TSLS The plain short on Tesla: TSLS aims for -1x the stock's daily move, with no leverage stacked on top. Among the small group of Tesla bear funds, it is the cheapest, and the one that dials risk down rather than up.

Stated mandate

ORCS 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.

TSLS The Fund seeks daily inverse investment results by maintaining short exposure to TSLA of approximately -100% of its net assets and generally rebalancing that exposure each trading day.

Why people hold it

  • ORCS 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.
  • TSLS Cheapest of the Tesla short funds at 0.95%, undercutting TSDD (1.13%) and TSLZ (1.05%), and running well below the typical inverse single-stock ETF.
  • Inverse, not leveraged inverse. One unit of short Tesla exposure per dollar, which keeps daily compounding drag milder than the -2x versions of the same trade.direxion.com
  • Trading since 2022 and one of the stronger implementations in the inverse single-stock crowd, with enough daily volume to make in-and-out trading practical.

Worth knowing

  • ORCS 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
  • TSLS Exposure resets every trading day. Over any stretch longer than a day, Tesla's volatility compounds and results can drift well away from -1x the stock's move.direxion.com
  • Direxion calls it a short-term trading vehicle that is not appropriate for investors who will not actively monitor it.sec.gov
  • One company, one story. An earnings print, a product event or a headline about its CEO moves the whole position.

Full ORCS profile⁠

Full TSLS profile⁠

ORCS vs TSLS Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ORCS vs TSLS Cost

Overpaying ORCS vs TSLS

$329

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

  • ORCS 0.97%

    $18,198

  • TSLS 0.95%

    $17,869

$10,000
30 years

Cost over time

  • ORCS 0.97%
  • TSLS 0.95%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530ORCS $18,198TSLS $17,869

Year by year

YearORCSTSLSOverpaying
10$1,712$1,678$34
20$6,443$6,322$121
30$18,198$17,869$329

Expense ratio

  • 0.97%ORCS
  • 0.95%TSLS, cheaper
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

TSLS 2nd cheapest of 43 funds

ORCS 4th cheapest of 43 funds

ORCS vs TSLS Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
ORCS No data
TSLS 3.11%
Payout (12M)
ORCS No data
TSLS $1.57
Last payment
ORCS $0.22
TSLS $0.40
Ex-dividend
ORCS Sep 22, 2026
TSLS Sep 22, 2026
Paid on
ORCS Sep 29, 2026
TSLS Sep 29, 2026
Frequency
ORCS Quarterly
TSLS Quarterly

Distribution history

Per share, 2022 to 2026, same scale for both

ORCSQuarterly · 4 paymentsAll ORCS payments⁠
One bar per payment. 4 payments from 2022 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.$0$1020232026YTD
TSLSQuarterly · 18 paymentsAll TSLS payments⁠
One bar per payment. 18 payments from 2022 to 2026 YTD. Sep 20, 2022 $0.23; Dec 8, 2022 $16.19; Dec 20, 2022 $0.56; Mar 21, 2023 $2.55; Jun 21, 2023 $1.86; Sep 19, 2023 $1.80; Dec 21, 2023 $2.29; Mar 19, 2024 $2.40; Jun 25, 2024 $1.68; Sep 24, 2024 $1.39; Dec 23, 2024 $0.66; Mar 25, 2025 $0.76; Jun 24, 2025 $0.53; Sep 23, 2025 $0.40; Dec 23, 2025 $0.49; Mar 24, 2026 $0.34; Jun 23, 2026 $0.34; Sep 22, 2026 $0.40. Use the arrow keys to read each point.$0$1020232026YTD

ORCS vs TSLS Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
ORCS No dataTSLS 51.7%
Return per unit of riskSharpe ratio, 3 years
ORCS No dataTSLS −0.76
Worst fallMax drawdown, 5 years
ORCS No dataTSLS −90.7%since Aug 2022
Market sensitivityBeta, 5 years
ORCS −2.04TSLS −1.41

Popular comparisons

  • ORCSAvsAAPDA

    Direxion Daily ORCL Bear 1X ETF · Direxion Daily AAPL Bear 1X ETF

    Expense ratio
    0.97% · 0.96%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TSLSAvsAAPDA

    Direxion Daily TSLA Bear 1X ETF · Direxion Daily AAPL Bear 1X ETF

    Expense ratio
    0.95% · 0.96%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • ORCSAvsTSDDA

    Direxion Daily ORCL Bear 1X ETF · GraniteShares 2x Short TSLA Daily ETF

    Expense ratio
    0.97% · 0.98%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TSLSAvsTSDDA

    Direxion Daily TSLA Bear 1X ETF · GraniteShares 2x Short TSLA Daily ETF

    Expense ratio
    0.95% · 0.98%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • ORCSAvsSKHZA

    Direxion Daily ORCL Bear 1X ETF · Leverage Shares 1X Short SK Hynix Daily ETF

    Expense ratio
    0.97% · 0.75%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TSLSAvsSKHZA

    Direxion Daily TSLA Bear 1X ETF · Leverage Shares 1X Short SK Hynix Daily ETF

    Expense ratio
    0.95% · 0.75%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.