ORCX vs SPY
Defiance Daily Target 2X Long ORCL ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | ORCX | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.36% | 0.09% | |
| AUM | $213M | $789.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 10 | 505 | |
| YTD Return | -53.88% | +13.68% | |
| 1Y Return | -78.20% | +21.53% | |
| 3Y Return (annualized) | - | +21.44% | |
| 5Y Return (annualized) | - | +13.18% | |
| Volatility (annualized) | 138.5% | 15.3% | |
| Max Drawdown | -91.7% | -56.5% | |
| Fund Family | Defiance ETFs, LLC | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Feb 6, 2025 | Jan 22, 1993 |
ORCX vs SPY Performance
Defiance Daily Target 2X Long ORCL ETF (ORCX) is a ETF from Defiance ETFs, LLC and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year ORCX returned -78.20% while SPY returned +21.53%. Year to date, ORCX is down 53.88% versus a gain of 13.68% for SPY.
Risk: Volatility and Drawdowns
ORCX has been the more volatile fund, with annualized monthly volatility of 138.5% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -91.7% for ORCX and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.60. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
ORCX charges 1.36% per year while SPY charges 0.09%. On a $10,000 position that is $136 vs $9 annually, a gap of $127 per year that compounds over a long holding period. On income, ORCX currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
ORCX and SPY share 0 holdings out of 505 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, ORCX or SPY?
ORCX has an expense ratio of 1.36% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $127 per year of difference.
Which performed better, ORCX or SPY?
Over the past year ORCX returned -78.20% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), ORCX annualized -46.53% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, ORCX or SPY?
ORCX has been the more volatile fund at 138.5% annualized versus 15.3% for SPY. Worst drawdown: ORCX -91.7% vs SPY -56.5%.
Should I hold both ORCX and SPY?
ORCX and SPY have a monthly-return correlation of 0.60, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ORCX and SPY?
ORCX and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, ORCX or SPY?
ORCX yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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