Direxion Daily ORCL Bear 1X ETF

Frequently Asked Questions About ORCS

What does ORCS invest in?

The Direxion Daily ORCL Bull 2X ETF and the Direxion Daily ORCL Bear 1X ETF are financial instruments designed to deliver specific daily investment results. Before any fees and expenses are applied, the Bull 2X ETF aims to provide returns that are double (200%) the daily performance of Oracle Corporation (NYSE: ORCL) common stock. Conversely, the Bear 1X ETF seeks to generate a daily return equal to 100% of the inverse, or opposite, movement of Oracle's share price.

What is the expense ratio of ORCS?

Direxion Daily ORCL Bear 1X ETF (ORCS) charges an expense ratio of 0.99%. This is the annual fee deducted from fund assets to cover management and operations.

Is ORCS a good long-term hold?

ORCS is a inverse fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple — typically negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.

How does ORCS's daily reset work?

ORCS rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level — so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.

How big is ORCS?

Direxion Daily ORCL Bear 1X ETF (ORCS) manages $8.3M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is ORCS actively managed or an index fund?

ORCS's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.