OKTG vs ONDL

OKTGALeverage Shares 2x Long OKTA Daily ETF

ONDLDDaily Target 2X Long ONDS ETF

In short

OKTG A 2x daily amplifier on Okta, the identity-security stock, in an ETF wrapper. Leverage Shares prices it at 0.75%, under the typical leveraged single-stock fund, in a corner of the market built mostly around mega-caps.

ONDL Twice 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

OKTG The fund seeks daily leveraged investment results equal to 200% of the daily performance of the publicly traded common stock identified as OKTA, before fees and expenses.

ONDL 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

• OKTG Costs 0.75% a year, below the roughly 1.01% median for leveraged single-stock funds, and matches the fee on Leverage Shares' other 2x products like UNHG and ASMG.
• Mechanically simple: it aims for 200% of Okta's daily move before fees and expenses, no margin account, options chain or share borrow involved.leverageshares.com
• Unusual target. Most 2x single-stock ETFs point at mega-caps such as AAPU and GGLL; this one puts the same machinery on a cybersecurity name.

• ONDL 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

• OKTG The leverage resets every day. Hold past that and returns compound, so a choppy stretch can leave you far from 2x Okta's move over the period.
• One company, doubled. An earnings gap or a breach headline at Okta hits the fund at twice the size, with no other holdings to soften it.
• Launched in November 2025 and still small and thinly traded, so spreads can run wider than on the long-established mega-cap leveraged funds.

• ONDL 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.

Full OKTG profile⁠

Full ONDL profile⁠