An actively managed ETF: Militia holds both long and short positions in stocks or ETFs, profiting from some prices rising and others falling.
ORR, the Militia Long/Short Equity ETF ($345 million), sits in StoryVector’s Beta Book: a manager chooses its holdings without a stated theme. It carries no market story, so it is not ranked against one. Over the past year it returned +22.6%, against +16.8% for broad US ETFs. Figures to October 2, 2026; past performance, not a recommendation.
ORR · the ETFFRI OCT 2Market price total return
+25.0% a yearTotal return since launch, January 2025
+22.6%Last 12 months
+10.9%Year to date
15.1%Volatility since launch
Checked, and added to the Beta Book
A manager chooses its holdings without a stated theme.
We check every ETF against the 22 narratives. This one follows the market, a factor or a manager’s choices rather than a story, so it has no narrative and no Share of Narrative. See the narratives on the board → · See the whole Beta Book →
FRI OCT 2MARKET PRICE TOTAL RETURN
1M
3M
YTD
1Y
3Y*
5Y*
ORR
−1.9%
+3.0%
+10.9%
+22.6%
–
–
The marketbroad US ETFs
+0.8%
+2.6%
+14.6%
+16.8%
+22.9%
+12.9%
1M, 3M, 1Y, 3Y, 5Y: one month to five years. YTD: year to date. * A year, annualised. A dash means the ETF has not traded for the whole period. Since it started trading on January 15, 2025: +25.0% a year.
$10,000 invested January 31, 2025
ORR $14,180The market $13,021
Total return on the market price, with each distribution reinvested on its ex-date. Not the NAV return the issuer publishes; the two differ when the ETF trades above or below the value of its holdings. The market is the asset-weighted return of broad US index ETFs. Past performance is no guarantee of future results.
FRI OCT 2MARKET PRICE TOTAL RETURN
How closely it moves
With the market0.35
−1 opposite0 unrelated+1 in step
ORR moves largely apart from the market. When the market has moved 1%, ORR has tended to move 0.32%.
Narrative figures are from the weekly board. Performance is market price total return as of October 2, 2026. Assets are StoryVector’s weekly figure. Classification and measurement. Not investment advice. How the measurement works →