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Launched · SEC filings

Daily Target 2X Long ONDS ETF

ONDLCboeDefianceDThis 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.

$2.94−0.67 (−18.45%)

At close: Nov 2, 2026, 4:00 PM ET

D38/ 100

Rank 285 of 380 in Single-Stock Long Leveraged

D38/100Rank 285 of 380inSingle-Stock Long Leveraged
Intraday session: down, 79 prints from 3.60 to 2.94. Range 2.92 to 3.67. Use the arrow keys to read each point.3.203.4010 AM12 PM2 PM4 PM
Expense ratio
1.32%
Fund size
$21M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
9
Avg volume · 30D
1.46M sh
52W range
low $3.16high $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
285 of 380
Six-pillar profile for ONDL. Scores out of 100: Cost 25, Risk 32, Mission 66, Tradability 62, Holdings not scored, Durability 65. Strongest: Mission (66). Weakest: Cost (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.
    D25 out of 100
    Rank 272 of 380

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    B66 out of 100
    Rank 137 of 150

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D32 out of 100
    Rank 280 of 368

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B62 out of 100
    Rank 121 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.
    B65 out of 100
    Rank 88 of 380

Our read on ONDL

ETF.net Research

In short

DTwice the daily move of Ondas Holdings, the drone and counter-drone outfit, in a single ticker, and the cheaper of the 2x ONDS pair at 1.32%. Daily reset means compounding, not just direction, drives anything held past a day.

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

  • Does one job: derivative exposure aiming for 200% of the daily percentage change in ONDS, no margin account or options chain required.defianceetfs.com
  • The cheaper of the two 2x ONDS funds: 1.32% versus ONDU's 1.49%, neither propped up by a fee waiver.
  • Actively traded for a fund of its size, so getting in and out is usually the easy part of the trade.
  • The underlying business is a real defense-adjacent story: Ondas owns American Robotics and Airobotics, autonomous drone and counter-drone operations, plus a private wireless arm.ondas.com

Worth knowing

  • The 1.32% fee sits above the typical leveraged single-stock fund, and the category's cheapest implementations (OKTG 0.75%, TSMG 0.76%) ride far larger companies.
  • Leverage resets daily. In choppy stretches, two times the daily move can compound into something well short of twice the stock's longer-run move.defianceetfs.com
  • Everything rides on one small-cap drone company, doubled. No diversification, and leveraged swap exposure isn't built to throw off income.

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$1,369
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,169
Dec 31, 2025 to Oct 30, 2026. ONDL $1,369. SPY $11,169. Use the arrow keys to read each point.$0$10,000$20,000Dec 2025Jun 2026Oct 2026

Dec 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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−86.3%
1 month−30.9%
3 months−43.0%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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−86.3%
2025+17.4%

History from Dec 30, 2025

ONDL in the news

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 30, 2026.
No dataLast 12 months
Payout per share
No dataLast 12 months

Listed Dec 2025. No distributions yet.

ONDL Risk

Risk pillarD32 out of 100Rank 280 of 368 in Single-Stock Long Leveraged

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.

FMP measures it over up to five years of monthly returns.

ONDL Cost

Compare ONDL and GOGL

Overpaying vs GOGL, tied cheapest in Single-Stock Long Leveraged

$19,513

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • ONDL 1.32%

    $23,668

  • GOGL 0.20% Tied cheapest

    $4,155

$10,000
30 years

Cost over time

  • ONDL 1.32%
  • GOGL 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530ONDL $23,668GOGL $4,155

Year by year

YearONDLGOGLOverpaying
10$2,296$365$1,931
20$8,507$1,421$7,086
30$23,668$4,155$19,513

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