LTAX vs ORCS

Comparison between Nomura TaxFree USA ETF (LTAX, ETF) and Direxion Daily ORCL Bear 1X ETF (ORCS, ETF).

LTAX vs ORCS - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	LTAX(ETF)	ORCS(ETF)
Net Assets	$6.30M	$6.30M
Expense Ratio	0.39%	0.97%
Max Drawdown	3.49%	50.50%
Sharpe Ratio	0.17	0.33
5Y Beta	0.16	-1.88

Net Assets

LTAX

$6.30M

ORCS

$6.30M

Expense Ratio

Winner

LTAX

0.39%

ORCS

0.97%

Max Drawdown

Winner

LTAX

3.49%

ORCS

50.50%

Sharpe Ratio

LTAX

0.17

Winner

ORCS

0.33

5Y Beta

LTAX

0.16

Winner

ORCS

-1.88

LTAX vs ORCS - Historical Returns

Returns include dividend reinvestment.

Period	LTAX	ORCS
1 month	+1.07%	-3.25%
3 months	+2.09%	-21.55%
6 months	+1.89%	-11.63%
Max(CAGR)	+4.67%	+5.22%

Winner

LTAX

+1.07%

ORCS

-3.25%

Winner

LTAX

+2.09%

ORCS

-21.55%

Winner

LTAX

+1.89%

ORCS

-11.63%

Max(CAGR)

LTAX

+4.67%

Winner

ORCS

+5.22%

LTAX vs ORCS - Annual Returns (2025 - 2026)

Returns include dividend reinvestment.

Year	LTAX	ORCS
2026	+1.89%	-8.04%
2025	N/A	+12.36%

LTAX vs ORCS Drawdown Comparison

The maximum drawdown for LTAX was -3.18%, occurring on Mar 24, 2026. Recovery took 64 trading sessions.

The maximum drawdown for ORCS was -50.26%, occurring on Jun 1, 2026. This drawdown has not yet recovered.

The current LTAX drawdown is -0.01%. The current ORCS drawdown is -34.48%.

Rank	LTAX	ORCS
#1	-3.18% Feb 26, 2026 - May 29, 2026	-50.26% Feb 5, 2026 - Jun 1, 2026
#2	-0.78% Jan 14, 2026 - Feb 5, 2026	-13.55% Dec 17, 2025 - Jan 21, 2026
#3	-0.51% Jun 4, 2026 - Jun 10, 2026	-12.05% Nov 25, 2025 - Dec 12, 2025
#4	-0.27% Feb 10, 2026 - Feb 12, 2026	-4.62% Jan 21, 2026 - Jan 28, 2026
#5	-0.27% Feb 5, 2026 - Feb 9, 2026	-2.05% Dec 15, 2025 - Dec 17, 2025
#6	-0.21% Jun 2, 2026 - Jun 4, 2026	-0.98% Nov 21, 2025 - Nov 25, 2025
#7	-0.19% Feb 24, 2026 - Feb 26, 2026	N/A
#8	-0.01% Feb 13, 2026 - Feb 18, 2026	N/A
#9	-0.00% Feb 19, 2026 - Feb 24, 2026	N/A

Correlation

Correlation between LTAX and ORCS is -0.60 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.60

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