ORCS vs LTAX

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

ORCS vs LTAX - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	ORCS(ETF)	LTAX(ETF)
Net Assets	$6.30M	$6.30M
Expense Ratio	0.97%	0.39%
Max Drawdown	50.50%	3.49%
Sharpe Ratio	0.33	0.16
5Y Beta	-1.89	0.16

Net Assets

ORCS

$6.30M

LTAX

$6.30M

Expense Ratio

ORCS

0.97%

Winner

LTAX

0.39%

Max Drawdown

ORCS

50.50%

Winner

LTAX

3.49%

Sharpe Ratio

Winner

ORCS

0.33

LTAX

0.16

5Y Beta

Winner

ORCS

-1.89

LTAX

0.16

ORCS vs LTAX - Historical Returns

Returns include dividend reinvestment.

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

ORCS

-3.25%

Winner

LTAX

+1.07%

ORCS

-21.55%

Winner

LTAX

+2.09%

ORCS

-11.63%

Winner

LTAX

+1.89%

Max(CAGR)

Winner

ORCS

+5.22%

LTAX

+4.67%

ORCS vs LTAX - Annual Returns (2025 - 2026)

Returns include dividend reinvestment.

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

ORCS vs LTAX Drawdown Comparison

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

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

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

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

Correlation

Correlation between ORCS and LTAX 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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