Direxion Daily ORCL Bear 1X ETF (ORCS)

Direxion Daily ORCL Bear 1X ETF (ORCS) seeks daily investment results, before fees and expenses, equal to the inverse (-1x) of the daily percentage change in the share price of Oracle Corporation (ORCL). It is a single-stock ETF sponsored by Direxion, designed to move opposite to Oracle Corporation on a given trading day.

The underlying company, Oracle Corporation, is a major provider of database software, enterprise applications and cloud infrastructure services, headquartered in Austin, Texas. The fund does not usually own the reference shares outright in the required amount; instead it obtains its exposure mainly through derivatives such as swap agreements, backed by cash and short-term Treasury holdings.

Because the fund rebalances to its target inverse exposure every day, its stated multiple applies to a single day only. Over periods longer than one day, compounding means the fund's cumulative return can differ significantly from -1 times the stock's return over the same period, particularly when the share price is volatile.