SPCZ vs ORCS

Comparison between RIVERNORTH ENHANCED PRE-MERGER SPAC ETF (SPCZ, ETF) and Direxion Daily ORCL Bear 1X ETF (ORCS, ETF).

SPCZ vs ORCS - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	SPCZ(ETF)	ORCS(ETF)
Net Assets	$6.30M	$6.30M
Expense Ratio	0.90%	0.97%
Max Drawdown	12.35%	50.50%
Sharpe Ratio	0.17	0.33
5Y Beta	-0.00	-1.88
P/E Ratio	56.28	N/A
Debt to Equity	-0.03%	N/A
P/B Ratio	1.42	N/A

Net Assets

SPCZ

$6.30M

ORCS

$6.30M

Expense Ratio

Winner

SPCZ

0.90%

ORCS

0.97%

Max Drawdown

Winner

SPCZ

12.35%

ORCS

50.50%

Sharpe Ratio

SPCZ

0.17

Winner

ORCS

0.33

5Y Beta

SPCZ

-0.00

Winner

ORCS

-1.88

P/E Ratio

SPCZ

56.28

ORCS

N/A

Debt to Equity

SPCZ

-0.03%

ORCS

N/A

P/B Ratio

SPCZ

1.42

ORCS

N/A

SPCZ vs ORCS - Historical Returns

Returns include dividend reinvestment.

Period	SPCZ	ORCS
1 month	+0.59%	-4.55%
3 months	+1.52%	-26.68%
6 months	+1.75%	-17.81%
1 year	+4.01%	N/A
Max(CAGR)	+6.41%	-3.22%

Winner

SPCZ

+0.59%

ORCS

-4.55%

Winner

SPCZ

+1.52%

ORCS

-26.68%

Winner

SPCZ

+1.75%

ORCS

-17.81%

SPCZ

+4.01%

ORCS

N/A

Max(CAGR)

Winner

SPCZ

+6.41%

ORCS

-3.22%

SPCZ vs ORCS - Annual Returns (2022 - 2026)

Returns include dividend reinvestment.

Year	SPCZ	ORCS
2026	+1.88%	-12.28%
2025	+10.31%	+12.36%
2024	+5.42%	N/A
2023	+6.01%	N/A
2022	+1.95%	N/A

SPCZ vs ORCS Drawdown Comparison

The maximum drawdown for SPCZ was -4.47%, occurring on Sep 3, 2024. Recovery took 34 trading sessions.

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

The current SPCZ drawdown is -3.51%. The current ORCS drawdown is -37.50%.

Rank	SPCZ	ORCS
#1	-4.47% Aug 7, 2024 - Sep 25, 2024	-50.26% Feb 5, 2026 - Jun 1, 2026
#2	-3.82% Apr 29, 2026 - Jun 10, 2026	-13.55% Dec 17, 2025 - Jan 21, 2026
#3	-3.51% Jun 10, 2026 - Jun 15, 2026	-12.05% Nov 25, 2025 - Dec 12, 2025
#4	-3.50% Jun 16, 2025 - Jul 23, 2025	-4.62% Jan 21, 2026 - Jan 28, 2026
#5	-2.86% Dec 29, 2025 - Apr 29, 2026	-2.05% Dec 15, 2025 - Dec 17, 2025
#6	-1.34% Oct 18, 2024 - Dec 23, 2024	-0.98% Nov 21, 2025 - Nov 25, 2025
#7	-1.21% Oct 15, 2025 - Dec 29, 2025	N/A
#8	-1.11% Dec 13, 2023 - Jan 4, 2024	N/A
#9	-1.00% Jul 25, 2025 - Aug 19, 2025	N/A
#10	-0.94% Oct 23, 2023 - Nov 2, 2023	N/A
#11	-0.88% Jan 4, 2024 - Feb 9, 2024	N/A
#12	-0.87% Feb 13, 2023 - Mar 30, 2023	N/A
#13	-0.87% Oct 3, 2024 - Oct 18, 2024	N/A
#14	-0.83% Jun 11, 2025 - Jun 16, 2025	N/A
#15	-0.79% Jul 14, 2022 - Oct 19, 2022	N/A

Correlation

Correlation between SPCZ and ORCS is -0.56 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.56

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