Share-split context: A reverse split was recorded on Mar 20, 2026 with coefficient 0.333333. A reverse split combines multiple old shares into fewer new shares and mechanically raises the quoted price per share. That mechanical increase does not restore lost investment value. The returns in this report are already split-adjusted, while reverse-split history remains a separate structural warning.

DEFIANCE DAILY TARGET 2X LONG ORCL ETF (ORCX)

The DEFIANCE DAILY TARGET 2X LONG ORCL ETF (ticker: ORCX) is designed to provide investors with twice the daily performance of Oracle Corporation's stock (ORCL). This leveraged ETF aims to offer significant gains when ORCL performs well, but it also carries higher risks and volatility.

What the Numbers Show

The most recent data shows that ORCX has experienced a substantial decline in its share price over the past year. As of October 7, 2026, the ETF's current price is $20 per share. The one-year price return for ORCX is -83.58%, meaning the share price fell significantly compared to where it was a year ago.

Income and Distribution Explanation

ORCX does not pay regular distributions or dividends. It has no payout history over the past 12 months, so there are no cash payments to investors from this ETF.

NAV Erosion Explanation

The ETF's price performance shows severe erosion, with an erosion score of 10 and a severity level marked as "severe." This means that while the share price has dropped significantly, it is important to note that actual historical NAV-per-share data is not provided. Therefore, we can only discuss price-based evidence rather than confirming or ruling out NAV erosion.

Pros

• High Leverage: ORCX offers twice the daily performance of Oracle Corporation's stock.

• Potential for High Gains: If ORCL performs well, this ETF could provide significant returns in a short period.

Cons

• Severe Price Erosion: The ETF has experienced a very steep decline in its share price over the past year.

• No Distributions: There are no regular cash payments to investors from this fund.

• High Risk: Leveraged ETFs like ORCX can be highly volatile and risky, especially for long-term investments.

Beginner Takeaway

The DEFIANCE DAILY TARGET 2X LONG ORCL ETF (ORCX) is a leveraged product designed to offer twice the daily performance of Oracle Corporation's stock. However, it has shown significant price erosion over the past year with no distributions paid out. This makes it a high-risk investment that may not be suitable for all investors, especially those looking for stable income or long-term growth.