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ONDL vs TSMG

Daily Target 2X Long ONDS ETF

ONDLDCboe

Leverage Shares 2x Long TSM Daily ETF

TSMGANasdaq

Overlap

Expense ratio

TSMG −0.56pt a year

ONDL1.32%TSMG0.76%

Avg volume · 30D

ONDL 21.2×the volume

ONDL1.46MTSMG69K

ONDL vs TSMG Performance

Dec 31, 2025 – Nov 2, 2026

−88.8%ONDL+37.1%TSMG

Dec 31, 2025 to Nov 2, 2026. ONDL −88.8%. TSMG +37.1%. Use the arrow keys to read each point.−50%0%100%Dec 2025Jun 2026Nov 2026
Expense ratio
ONDL 1.32%
TSMG 0.76%, better
Fund size
ONDL $21M
TSMG $28M
1Y total return
ONDL No data
TSMG +36.4%
Holdings
ONDL 9
TSMG 5
Avg volume (30D)
ONDL 1.46M sh, better
TSMG 69K sh
NAV per share
ONDL $3.61
TSMG $33.77
52W range

ETF.net Grade

ONDL: Cost 25, Risk 32, Mission 66, Tradability 62, Holdings not scored, Durability 65. TSMG: Cost 70, Risk 84, Mission 79, Tradability 74, Holdings not scored, Durability 67.
Pillar letters and Scores for ONDL, TSMG, with each pillar’s weight
PillarONDLTSMG
Cost30% weightD25A70Higher
Mission25% weightB66A79Higher
Risk15% weightD32A84Higher
Tradability15% weightB62A74Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB65B67Higher

Rank among Single-Stock Long Leveraged funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. ONDL and TSMG are both graded against the same 315 Single-Stock Long Leveraged funds, so their Grades compare head to head.

Single-Stock Long Leveraged⁠

Category · 315 funds
See all 315 ›

TSMG ranks 1st and ONDL 252nd of 315 funds in the Single-Stock Long Leveraged Category.

  1. Rank 1ATSMGLeverage Shares 2x Long TSM Daily ETFScore 73
  2. Rank 2AUNHGLeverage Shares 2x Long UNH Daily ETFScore 72
  3. Rank 252DIONXDefiance Daily Target 2X Long IONQ ETFScore 38
  4. Rank 252DONDLDaily Target 2X Long ONDS ETFScore 38
  5. Rank 255DGMEUT-Rex 2X Long GME Daily Target ETFScore 37

Our read on each fund

ETF.net Research

ONDLDDaily Target 2X Long ONDS ETF

TSMGALeverage Shares 2x Long TSM Daily ETF

In short

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.

TSMG Two times TSM, one day at a time. TSMG aims for 200% of Taiwan Semiconductor's daily move, no margin account required, at 0.75% a year, below what most leveraged single-stock funds charge.

Stated mandate

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.

TSMG The fund seeks daily investment results equal to 200% of the daily performance of Taiwan Semiconductor Manufacturing Company Ltd stock, before fees and expenses.

Why people hold it

  • 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
  • TSMG Charges 0.75% a year, undercutting the 0.96% on Direxion's 2x single-stock funds such as AAPU and GGLL.leverageshares.com
  • The milder gear on the leveraged shelf: it targets double TSM's daily move, not triple.leverageshares.com
  • Leverage arrives inside a regular 1940 Act ETF. No margin agreement, no lender, and your exposure is capped at what you put in.leverageshares.com
  • Hits its stated daily target tightly, and rates among the stronger builds in a crowded field of 2x and 3x single-stock funds.

Worth knowing

  • 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.
  • TSMG The leverage resets every day. Hold longer and compounding takes over, so multi-day results can drift well away from twice TSM's move, especially in choppy markets.leverageshares.com
  • One stock, one industry. Everything rides on Taiwan Semiconductor, doubled, so company-specific news lands twice as hard.
  • Young and small: launched in January 2025, and it sits among the smaller, less heavily traded names on the leveraged shelf, which can widen spreads.

Full ONDL profile⁠

Full TSMG profile⁠

ONDL vs TSMG Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ONDL vs TSMG Cost

Overpaying ONDL vs TSMG

$9,012

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

  • ONDL 1.32%

    $23,668

  • TSMG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • ONDL 1.32%
  • TSMG 0.76%
  • 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 $23,668TSMG $14,656

Year by year

YearONDLTSMGOverpaying
10$2,296$1,353$943
20$8,507$5,142$3,365
30$23,668$14,656$9,012

Expense ratio

  • 1.32%ONDL
  • 0.76%TSMG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

TSMG 131st cheapest of 315 funds

ONDL 243rd cheapest of 315 funds

ONDL vs TSMG Dividends

Last 12 months to Nov 2, 2026
Payout (12M)
ONDL None
TSMG No data
Last payment
ONDL No data
TSMG $2.73
Ex-dividend
ONDL No data
TSMG Dec 30, 2025
Paid on
ONDL No data
TSMG Jan 2, 2026
Frequency
ONDL No data
TSMG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

ONDLAll ONDL payments⁠

No distribution history available.

TSMGIrregular · 1 paymentAll TSMG payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $2.73. Use the arrow keys to read each point.$0$2.502026YTD

ONDL vs TSMG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
ONDL No dataTSMG 77.9%since Feb 2025
Return per unit of riskSharpe ratio, 3 years
ONDL No dataTSMG 0.97since Feb 2025
Worst fallMax drawdown, 5 years
ONDL No dataTSMG −63.7%since Jan 2025
Market sensitivityBeta, 5 years
ONDL 4.81TSMG 3.81

Popular comparisons

  • ONDLDvsUNHGA

    Daily Target 2X Long ONDS ETF · Leverage Shares 2x Long UNH Daily ETF

    Expense ratio
    1.32% · 0.77%
    Category
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  • TSMGAvsUNHGA

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