ORR: Downgrading One Of Our Holdings After A Year In The Market

Militia Long/Short Equity ETF is downgraded to 'Hold' after a year of performance tracking and portfolio analysis. ORR currently functions as a low-volatility, actively managed Japan equities play, closely mirroring EWJ's returns but with better risk-adjusted metrics. Despite its long/short mandate, ORR's portfolio has remained stable, with persistent Japan equity overweight and selective U.S. shorts.

Seeking Alpha • Jun 9, 2026

ORR: A Long/Short Hedge Fund Disguised As An ETF

Militia Long/Short Equity ETF offers retail investors access to a diversified, actively managed global long/short equity strategy, typically reserved for hedge funds. ORR's early performance is strong, with a 31.63% return since inception and a low portfolio beta of 0.43, despite high gross exposure. The fund employs a sophisticated portfolio construction, balancing global long positions with index and structural shorts for factor diversification.

Seeking Alpha • Jun 1, 2026

AIM ImmunoTech Announces 50% Objective Response Rate (ORR) in UPMC Recurrent Ovarian Cancer Phase 2 Clinical Trial, Suggesting Breakthrough Combination Potential

Final UPMC Primary Endpoint Report Details Positive Data from Ovarian Cancer Clinical Trial Combining Ampligen, Pembrolizumab and Cisplatin Final UPMC Primary Endpoint Report Details Positive Data from Ovarian Cancer Clinical Trial Combining Ampligen, Pembrolizumab and Cisplatin

GlobeNewsWire • May 7, 2026

ORR: A Hedge Fund In ETF Clothing, Convincing Buy Opportunity

The Militia Long/Short Equity ETF is rated a buy for its differentiated, non-correlated global long/short strategy and strong risk-adjusted returns since inception. ORR has delivered a 47.1% NAV return since January 2025, outperforming the S&P 500 by 2.5x with lower net market exposure and unique geographic tilts. ORR's portfolio is concentrated in Japanese small/mid-cap value, Mexican infrastructure, and U.S. midstream energy, with mechanical index shorts providing a 0.5 beta hedge.

Seeking Alpha • Apr 5, 2026

ORR: Review Of Long-Short ETF After One Year In The Market

Militia Long/Short Equity ETF has delivered a stellar return in its first year, outperforming SPY by over 21%. ORR's long portfolio emphasizes major growth stocks, MLPs and Latin American airports, while its shorts target high-yield equity ETFs, U.S. small caps and BDCs. Despite a headline 14.19% expense ratio, costs are driven by shorting high-yield instruments that have persistently underperformed.

Seeking Alpha • Jan 22, 2026

Militia Long/Short Equity ETF: This Hedge Fund-Style Investment Is Off To A Good Start

The Militia Long/Short Equity ETF offers retail investors access to a hedge fund-style, global long/short equity strategy managed by David Orr. ORR has delivered strong performance (+24% since inception), but its high stated expense ratio (14.19%) is largely an accounting artifact of short selling. The fund focuses on foreign value/growth longs and U.S. ETF shorts, aiming for low correlation and volatility compared to broad equity markets.

Seeking Alpha • Oct 23, 2025

ORR: Promising Long/Short Equity ETF

Since its launch in early 2025, the Militia Long/Short Equity ETF has delivered a strong total return of +17.9%, significantly outperforming the S&P 500 during the same period. ORR is actively managed by David Orr and operates as a long/short equity vehicle. Its long positions are focused on what it considers undervalued names. The fund's portfolio is heavily concentrated in Japanese equities, which the article's author sees as a key diversifier.

Seeking Alpha • Aug 13, 2025