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Launched · SEC filings

Daily Target 2X Long ONDS ETF

ONDLCboeDThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$4.27+0.01 (+0.23%)

At close: Oct 13, 2026, 4:00 PM

D38/ 100

Rank 282 of 380 in Single-Stock Long Leveraged

D38/100Rank 282 of 380inSingle-Stock Long Leveraged
Intraday session: up, 75 prints from 4.26 to 4.27. Range 4.04 to 4.34. Use the arrow keys to read each point.4.054.104.154.204.3510 AM12 PM2 PM4 PM
Expense ratio
1.32%
Fund size
$26M
1Y total return
—
Yield · Last 12 months
—
Holdings
9
Avg volume · 30D
1.5M sh
NAV per share
$4.33
52W range
low $4.18high $59.29
Launched
Filings
SEC EDGAR

The ETF.net ONDL Grade

Based on 5 of 6 pillars

D

Score 38 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
282 of 380
Six-pillar profile for ONDL. Scores out of 100: Cost 27, Risk 25, Mission 64, Tradability 66, Holdings not scored, Durability 64. Strongest: Tradability (66). Weakest: Risk (25). Based on 5 of 6 pillars.

Score 38 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D27 out of 100
    Rank 265 of 380

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    B64 out of 100
    Rank 145 of 148

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D25 out of 100
    Rank 310 of 363

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B66 out of 100
    Rank 98 of 380

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B64 out of 100
    Rank 102 of 380

Our read on ONDL

ETF.net Research

DONDL aims to move twice as much as Ondas Holdings does each day, up or down. It is the cheaper of the two US ETFs built on leveraged ONDS exposure, and the daily reset makes it a day-by-day instrument rather than a set-and-forget holding.

Stated mandate

The fund seeks daily investment results, before fees and expenses, equal to two times the daily percentage change in Ondas Holdings Inc. and therefore provides amplified long exposure to that company.

Why people hold it

  1. 01One job, stated plainly: two times the daily percentage change in Ondas Holdings. No index committee, no basket drift, just amplified exposure to one company.
  2. 02At 1.31%, it undercuts the other leveraged ONDS fund (ONDU, 1.49%), making it the cheaper wrapper for the same underlying trade.
  3. 03The leverage sits inside the fund. You get the 2x daily exposure through an ordinary brokerage account, with no margin agreement to sign.
  4. 04Shares trade actively despite a small asset base, so the fund is not dependent on its own size for a working market.

Worth knowing

  1. 01The daily reset compounds. Hold longer than a day and results can drift meaningfully away from 2x the stock's move over that stretch, especially in choppy markets.
  2. 02The 1.31% fee runs above the median for 2x single-stock funds, and every basis point comes out of an already volatile ride.
  3. 03Launched at the end of 2025 with everything riding on one company's share price, and it currently grades out in the lower half of its 2x single-stock peer group.

ONDL Holdings

As of Oct 13, 2026
Asset class
Other
Holdings
9
Top-10 weight
265%
Largest holding
United States Treasury Bill 11/19/202658.9%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—United States Treasury Bill 11/19/202658.87%14,800,000$15M56
002—Ondas Inc.-Swap-Jnst-L30.09%1,129,684$8M1
003—Ondas Inc.-Swap-Nmra-L29.80%1,118,675$7M1
004—Ondas Holdings Inc Swap Cs-L29.47%1,106,252$7M1
005—Ondas Inc.-Swap-Mscs-L29.33%1,101,000$7M1
006—Ondas Hldgs Inc Swap Marex-L28.45%1,067,857$7M1
007—Ondas Inc Swap Nbc-L28.22%1,059,383$7M1
008—Ondas Hldgs Inc Swap Cantor-L24.89%934,239$6M1
009—First American Government Obligations Fund 12/01/20316.02%1,506,226$2M529

Showing 1–9 of 9 holdings

ONDL Performance

Launched Dec 29, 2025

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
ONDL$1,615
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,500
Dec 31, 2025 to Oct 12, 2026. ONDL $1,615. SPY $11,500. Use the arrow keys to read each point.$195$10,491$20,786Dec 2025May 2026Oct 2026

Dec 31, 2025 – Oct 12, 2026

Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for ONDL. Periods over one year show the average yearly return.
PeriodONDL
Year to date−83.8%
1 month−18.8%
3 months−35.4%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper year—

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for ONDL
YearReturn barONDL
2026 YTD−83.8%
2025+17.4%

History from Dec 30, 2025

ONDL in the news

Filtered to ONDL · Single-Stock Long Leveraged

ONDL Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 12, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Dec 2025. No distributions yet.

ONDL Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
4.81
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

ONDL Cost

Expense ratio1.32%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

254 of the 333 Single-Stock Long Leveraged funds charge less.

ONDL costs $132.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.

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