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ONG

GradeCChicago Board Options Exchange

Leverage Shares 2X Long ON Daily ETF

Leveraged · Single-Stock Leveraged · LeverageShares · Inception 2026-06-02

This 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.

$4.22+0.07 (+1.68%)

As of Sep 23, 2026, 2:08 PM EDT

History starts Jun 2, 2026.History starts Jun 2, 2026.History starts Jun 2, 2026.
Intraday session: up, 20 prints from 4.15 to 4.22. Range 4.02 to 4.22. Use the arrow keys to read each point.$4.00$4.05$4.10$4.1510 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$1M
1Y return
—
Yield · Last 12 months
—
Holdings
3
Volume · 30D
0M sh
NAV per share
$3.95
52W range
low $3.37high $18.42

The ETF.net ONG Grade

C

40/ 100

Rank 186 of 380 in Single-Stock Long Leveraged⁠

Confidence Medium

Six-pillar profile for ONG. Scores out of 100: Cost 67, Risk 25, Mission not scored, Tradability 43, Holdings not scored, Durability 32. Strongest: Cost (67). Weakest: Risk (25). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 40 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E. A structural cap ceilings this fund at 40, so B and A are out of reach.

Ceiling 40 · B and A out of reach

The pillars earned49This cap took−9Published score40 Grade C

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 67
    Category rank144/380 · top 38%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 25
    Category rank249/285 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 43
    Category rank206/380 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 32
    Category rank266/380 · mid-pack

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

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 Sep 21, 2026, 6:59 PM
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$43K147

Showing 1–3 of 3 holdings

ONG Performance

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

ONG$2,478
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. ONG $2,478. SPY $10,415. Use the arrow keys to read each point.$1,376$6,249$11,122Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 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−5.7%
3 months−75.2%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per 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−75.4%

Since listing, Jun 2, 2026

ONG in the news

ETF.net Research hasn’t filed on ONG yet — coverage lands here as it’s written.

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 Sep 22, 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.
0.00
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%

85 of the 329 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.