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Launched

Leverage Shares 2X Long ON Daily ETF

ONGCboeCThis 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.

$4.42+0.08 (+1.85%)

As of Oct 13, 2026, 3:59 PM

C40/ 100

Rank 131 of 380 in Single-Stock Long Leveraged

C40/100Rank 131 of 380inSingle-Stock Long Leveraged
Intraday session: up, 29 prints from 4.33 to 4.42. Range 4.15 to 4.42. Use the arrow keys to read each point.4.154.204.254.3010 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$1M
1Y total return
—
Yield · Last 12 months
—
Holdings
3
Avg volume · 30D
0.1M sh
NAV per share
$4.52
52W range
low $3.37high $18.42
Launched

The ETF.net ONG Grade

Based on 4 of 6 pillars

C

Score 40 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
131 of 380
Six-pillar profile for ONG. Scores out of 100: Cost 67, Risk 27, Mission not scored, Tradability 53, Holdings not scored, Durability 35. Strongest: Cost (67). Weakest: Risk (27). Based on 4 of 6 pillars.

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

Very small fund, grade capped at C.

The cap holds the Score at 40 or below, so B and A are out of reach.

The pillars earned
52
This cap took
−12
Published Score
40 Grade C

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B67 out of 100
    Rank 87 of 380

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D27 out of 100
    Rank 300 of 363

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C53 out of 100
    Rank 156 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.
    D35 out of 100
    Rank 261 of 380

Our read on ONG

ETF.net Research

CA one-stock lever on onsemi, the power-chip and silicon carbide name behind EVs and industrial gear. ONG aims for 200% of ON's daily move, reset every session, at a fee that undercuts most 2x single-stock bulls.

Stated mandate

The fund seeks daily investment results equal to 200% of the daily performance of ON Semiconductor Corporation stock, before fees and expenses.

Why people hold it

  1. 01The mandate is blunt: 200% of ON Semiconductor's daily move, before fees. No index, no basket, no stock picking.leverageshares.com
  2. 02A 0.75% expense ratio sits below the median for 2x single-stock bull funds and undercuts highly ranked peers like GGLL on cost.
  3. 03onsemi makes power and sensing chips, with a large silicon carbide business aimed at vehicles and industrial systems, so the ride tracks a different chip cycle than AI GPU names.onsemi.comsec.gov
  4. 04It is a registered 1940 Act fund with a full prospectus, not a note or a swap contract you hold directly.leverageshares.com

Worth knowing

  1. 01Leverage resets daily. Hold past a single session and the path of ON's moves, not just the direction, shapes the outcome, and choppy stretches work against it.leverageshares.com
  2. 02Small asset base, light trading. Spreads can run wider than on the heavily traded mega-cap leveraged wrappers, which matters most on fast days.
  3. 03Launched in 2026 with no distributions, so there is little history yet to study across a full semiconductor cycle.

ONG Holdings

As of Oct 11, 2026
Asset class
Stocks
Holdings
3
Top-10 weight
207%
Largest holding
On Semiconductor Corporation-Swap-Mrex-L110.1%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—On Semiconductor Corporation-Swap-Mrex-L110.10%8,800$653K1
002—On Semiconductor Corporation-Swap-Clst-L89.90%7,186$533K1
003—First American Treasury Obligations Fund 01/01/20407.26%43,073$43K151

Showing 1–3 of 3 holdings

ONG Performance

Launched Jun 2, 2026

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.Not enough history yet.
ONG$5,601
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,332
Jul 10, 2026 to Oct 12, 2026. ONG $5,601. SPY $10,332. Use the arrow keys to read each point.$3,958$7,388$10,818Jul 2026Aug 2026Oct 2026

Jul 10, 2026 – 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 ONG. Periods over one year show the average yearly return.
PeriodONG
Year to dateFund launched this year—
1 month−4.5%
3 months−44.0%
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 ONG
YearReturn barONG
2026 YTD−74.3%

Since listing, Jun 2, 2026

ONG in the news

Filtered to ONG · Single-Stock Long Leveraged

ONG 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 Jun 2026. No distributions yet.

ONG 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 Jun 2026; 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 Jun 2026; 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 Jun 2026; 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.
−3.69
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.

ONG Cost

Expense ratio0.75%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

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

ONG costs $75.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.

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