ONOF vs PTNQ: Grades, Fees and Holdings Compared

Global X Adaptive U.S. Risk Management ETF

ONOFANYSE Arca

Pacer Trendpilot 100 ETF

PTNQBNasdaq

Overlap

51.7%by weight

Expense ratio

ONOF −0.26pt a year

ONOF0.39%PTNQ0.65%

Avg volume · 30D

PTNQ 5.9×the volume

ONOF5.82KPTNQ34.5K

5Y return · a year

PTNQ +0.9pt

ONOF+7.2%PTNQ+8.1%

ONOF vs PTNQ Performance

Nov 2, 2021 – Nov 2, 2026

+41.3%ONOF+47.7%PTNQ

Expense ratio: ONOF 0.39%, better; PTNQ 0.65%
Fund size: ONOF $140M; PTNQ $1.17B
1Y total return: ONOF +7.1%, better; PTNQ +1.9%
Yield (12M): ONOF 1.23%, better; PTNQ 0.84%
Holdings: ONOF 503; PTNQ 102
Avg volume (30D): ONOF 5.82K sh; PTNQ 34.5K sh, better
NAV per share: ONOF $40.37; PTNQ $83.26
52W range

ETF.net Grade

Pillar letters and Scores for ONOF, PTNQ, with each pillar’s weight
Pillar	ONOF	PTNQ
Cost30% weight	A95Higher	B58
Mission25% weight	Not scored	Not scored
Risk15% weight	B62Higher	C43
Tradability15% weight	B59	A91Higher
Holdings10% weight	A76Higher	B58
Durability5% weight	B56	A79Higher

Rank among Trend-Following / Tactical Index funds

How we build Categories ›

Same Category. ONOF and PTNQ are both graded against the same 20 Trend-Following / Tactical Index funds, so their Grades compare head to head.

Trend-Following / Tactical Index⁠

Category · 20 funds

See all 20 ›

ONOF ranks 2nd and PTNQ 7th of 20 funds in the Trend-Following / Tactical Index Category.

Rank 1AWAMAWisdomTree US Adaptive Moving Average FundScore 80
Rank 2AONOFGlobal X Adaptive U.S. Risk Management ETFScore 76
Rank 2APTLCPacer Trendpilot US Large Cap ETFScore 76
Rank 6BQQWZPacer Cash COWZ 100-Nasdaq 100 Rotator ETFScore 63
Rank 7BPTNQPacer Trendpilot 100 ETFScore 62
Rank 8BLFEQVanEck Long/Flat Trend ETFScore 61

Our read on each fund

ETF.net Research

ONOFAGlobal X Adaptive U.S. Risk Management ETF

PTNQBPacer Trendpilot 100 ETF

In short

ONOF The ticker says it out loud: ONOF is an on/off switch. Four technical indicators decide whether it owns a broad basket of U.S. stocks or sits in short-term Treasuries. Rules, not hunches.

PTNQ The Nasdaq-100 with an automatic ejector seat: PTNQ holds the index while it sits above its 200-day average, then shifts half or all of the money into 3-month T-bills when the trend breaks. Rules decide, not a manager's gut.

Stated mandate

ONOF ONOF seeks to track the Adaptive Wealth Strategies U.S. Risk Management Index before fees and expenses. Its four technical indicators shift the Fund between U.S. equities and defensive short-term Treasuries.

PTNQ The fund seeks to track the total return of the Pacer NASDAQ-100 Trendpilot Index before fees and expenses. Its rules-based trend-following strategy changes exposure among the NASDAQ-100 Index and 3-Month U.S. Treasury bills using three indicators.

Why people hold it

ONOF 0.39% a year for a systematic tactical strategy, a fraction of what the typical fund in its tactical-allocation group charges.globalxetfs.com
The switch is mechanical. Four technical indicators on the underlying index move it between stocks and Treasuries, so the rulebook is public before you own it.globalxetfs.com
The defensive leg is boring on purpose: short-term U.S. Treasuries, not options overlays or shorting.globalxetfs.com
Risk-on means roughly 500 U.S. stocks, so the equity exposure is broad-market rather than a concentrated stock-picking bet.globalxetfs.com

PTNQ Three states, all rules-based: all Nasdaq-100, 50/50 with 3-month T-bills, or all T-bills. Each switch needs five straight closes on the wrong side of the 200-day average.paceretfs.com paceretfs.com 2
No discretion, no gut calls. Pacer publishes the Trendpilot rules and the current position for the series, so you can see what moves the exposure and where it sits.paceretfs.com paceretfs.com 2
Live since 2015, so the rulebook has run through real market stress rather than a backtest, and it has grown into a multi-billion-dollar fund along the way.
At 0.65%, the fee sits right at the median for active US equity funds, so the signal machinery costs no premium over the typical active peer.

Worth knowing

ONOF Trend rules can whipsaw. In choppy markets the signals may step out after a drop and step back in after a bounce, and the fund's path can diverge sharply from the S&P 500.globalxetfs.com
It trades lightly compared with big index funds, so bid-ask spreads tend to be wider.
Launched in 2021, so its live record covers a short stretch of market history rather than multiple full cycles.

PTNQ That 0.65% is still several times what plain core index funds charge (DFAU 0.12%, AVLC 0.15%). The rulebook is the thing you are paying for.
The 200-day signal lags by design. A sharp V-shaped rebound can catch it in T-bills, and it cannot go from all-T-bills back to 50/50 without first hitting the equity trigger.paceretfs.com paceretfs.com 2
It trades lighter than the largest Nasdaq-100 trackers, so spreads can run wider; limit orders are the usual fix. Payouts arrive annually or semiannually, not quarterly.

Full ONOF profile⁠

Full PTNQ profile⁠

ONOF vs PTNQ Holdings

How ONOF and PTNQ differ

Overlap by weight

51.7%

Shared holdings make up 96.8% of PTNQ and 51.7% of ONOF.

Level by level

Holdings92 in both51.7%
Sector11 Sectors74.9%
Countryby domicile97.6%
Asset classEquity100%

Sector

Sector weights in ONOF and PTNQ, widest gap first
Sector	More in ONOFMore in PTNQ	ONOF	PTNQ
Technology	PTNQ +20.1 points	40.2%	60.3%
Financials	ONOF +10.7 points	10.9%	0.2%
Health Care	ONOF +5.6 points	9.4%	3.8%
Energy	ONOF +3.0 points	3.5%	0.5%
Industrials	ONOF +2.7 points	7.8%	5.1%
Communication	PTNQ +2.5 points	10.1%	12.6%
Real Estate	ONOF +1.5 points	1.5%	0.0%
Consumer Staples	PTNQ +1.4 points	4.2%	5.6%
Consumer Discretionary	PTNQ +1.2 points	8.9%	10.1%
Utilities	ONOF +0.9 points	1.9%	1.0%
Materials	ONOF +0.8 points	1.7%	0.9%

Country, concentration and asset class

Country by domicile

Country weights in ONOF and PTNQ, widest gap first
Country	More in ONOFMore in PTNQ	ONOF	PTNQ
United States	ONOF +2.0 points	99.3%	97.3%
Canada	PTNQ +1.1 points	0.0%	1.1%
Netherlands	PTNQ +0.9 points	0.0%	0.9%
Other countries (7)	PTNQ +0.1 points	0.7%	0.8%

Concentration

Weight in the 10 largest Holdings

ONOF36.3%
PTNQ46.7%

Securities held

ONOF502
PTNQ101

Asset class

ONOF: Equity
PTNQ: Equity

Holdings

Only in ONOF410
In both92
Only in PTNQ9

Only in ONOF

410 securities, 48.2% of ONOF by weight

Eli Lilly & Co1.79%
Bny Mellon Us Lrg Cap Cor1.72%
JPMorgan Chase & Co1.35%
Exxonmobil Holdings Corp1.17%
Berkshire Hathaway Inc-Cl B1.14%
Visa Inc-Class A Shares1.03%
Johnson & Johnson0.99%
AbbVie Inc0.78%
Mastercard Inc - A0.75%
Chevron Corp0.66%
Procter & Gamble Co/The0.56%
Merck & Co. Inc.0.55%
UnitedHealth Group Inc0.55%
Coca-Cola Co/The0.55%
Home Depot Inc0.49%
Philip Morris International0.48%
Ge Aerospace0.47%
Bank of America Corp0.47%
Caterpillar Inc0.43%
Rtx Corporation0.40%
Goldman Sachs Group Inc0.39%
Thermo Fisher Scientific Inc0.39%
Wells Fargo & Co0.38%
Intl Business Machines Corp0.36%
Ge Vernova Inc0.35%
Morgan Stanley0.34%
Oracle Corp0.33%
Citigroup Inc0.32%
Amphenol Corp-Cl A0.29%
Walt Disney Co/The0.29%
Conocophillips0.29%
Verizon Communications Inc0.28%
Abbott Laboratories0.28%
Mcdonald's Corp0.28%
Salesforce Inc0.27%
Union Pacific Corp0.27%
BlackRock Inc0.27%
Arista Networks Inc0.26%
Nextera Energy Inc0.26%
Pfizer Inc0.26%
American Express Co0.26%
Deere & Co0.25%
Welltower Inc0.25%
Accenture Plc-Cl A0.24%
Tjx Companies Inc0.23%
AT&T Inc0.22%
Lockheed Martin Corp0.22%
Danaher Corp0.22%
Schwab (Charles) Corp0.22%
Eaton Corp PLC0.21%

Only in PTNQ

9 securities, 3.1% of PTNQ by weight

Shopify Inc0.85%
ASML Holding NV0.66%
ARM Holdings PLC0.40%
PDD Holdings Inc0.24%
Honeywell Aerospace Inc0.22%
Coca-Cola Europacific Partners PLC0.22%
Thomson Reuters Corp0.20%
Ferrovial NV0.18%
Nebius Group NV0.16%

Weight gaps

All 92 Holdings in both funds, largest gap first.

Holding weights in ONOF and PTNQ, widest gap first
Holding	More in ONOFMore in PTNQ	ONOF	PTNQ
Micron Technology IncMU	PTNQ +2.98 points	1.50%	4.48%
Advanced Micro DevicesAMD	PTNQ +2.47 points	1.23%	3.70%
Space Exploration Techn-Cl ASPCX	PTNQ +2.46 points	0.13%	2.59%
Walmart IncWMT	PTNQ +1.90 points	0.80%	2.70%
Tesla IncTSLA	PTNQ +1.58 points	1.84%	3.42%
Costco Wholesale CorpCOST	PTNQ +1.35 points	0.67%	2.02%
Palantir Technologies Inc-APLTR	PTNQ +1.31 points	0.59%	1.90%
Cisco Systems IncCSCO	PTNQ +1.23 points	0.62%	1.85%
Intel CorpINTC	PTNQ +1.13 points	0.42%	1.55%
Meta Platforms IncMETA	PTNQ +0.94 points	2.03%	2.97%
Applied Materials IncAMAT	PTNQ +0.92 points	0.47%	1.39%
Palo Alto Networks IncPANW	PTNQ +0.90 points	0.44%	1.34%
Lam Research CorpLRCX	PTNQ +0.89 points	0.45%	1.34%
NVIDIA CorpNVDA	PTNQ +0.87 points	7.15%	8.02%
Texas Instruments IncTXN	PTNQ +0.82 points	0.41%	1.23%
Apple IncAAPL	PTNQ +0.79 points	7.39%	8.18%
Netflix IncNFLX	PTNQ +0.77 points	0.39%	1.16%
Crowdstrike Holdings Inc - ACRWD	PTNQ +0.76 points	0.38%	1.14%
Amgen IncAMGN	PTNQ +0.75 points	0.37%	1.12%
Amazon.com IncAMZN	PTNQ +0.75 points	3.47%	4.22%
Linde PLCLIN	PTNQ +0.70 points	0.36%	1.06%
T-Mobile Us IncTMUS	PTNQ +0.64 points	0.11%	0.75%
Gilead Sciences IncGILD	PTNQ +0.62 points	0.32%	0.94%
Kla CorpKLAC	PTNQ +0.61 points	0.31%	0.92%
Analog Devices IncADI	PTNQ +0.60 points	0.30%	0.90%
Microsoft CorpMSFT	PTNQ +0.57 points	5.73%	6.30%
Pepsico IncPEP	PTNQ +0.56 points	0.28%	0.84%
Qualcomm IncQCOM	PTNQ +0.51 points	0.26%	0.77%
Marvell Technology IncMRVL	PTNQ +0.51 points	0.26%	0.77%
Sandisk CorpSNDK	PTNQ +0.51 points	0.25%	0.76%
Intuitive Surgical IncISRG	PTNQ +0.45 points	0.23%	0.68%
Seagate Technology HoldingsSTX	PTNQ +0.45 points	0.21%	0.66%
Vertex Pharmaceuticals IncVRTX	PTNQ +0.42 points	0.21%	0.63%
Western Digital CorpWDC	PTNQ +0.40 points	0.19%	0.59%
Alphabet Inc-Cl CGOOG	PTNQ +0.38 points	2.12%	2.50%
Starbucks CorpSBUX	PTNQ +0.36 points	0.17%	0.53%
Automatic Data ProcessingADP	PTNQ +0.34 points	0.18%	0.52%
Marriott International -Cl AMAR	PTNQ +0.32 points	0.14%	0.46%
Monster Beverage CorpMNST	PTNQ +0.32 points	0.10%	0.42%
Booking Holdings IncBKNG	PTNQ +0.33 points	0.17%	0.50%
Fortinet IncFTNT	PTNQ +0.32 points	0.13%	0.45%
Csx CorpCSX	PTNQ +0.29 points	0.15%	0.44%
Adobe IncADBE	PTNQ +0.29 points	0.15%	0.44%
Intuit IncINTU	PTNQ +0.29 points	0.14%	0.43%
Cintas CorpCTAS	PTNQ +0.29 points	0.11%	0.40%
Constellation EnergyCEG	PTNQ +0.28 points	0.13%	0.41%
Regeneron PharmaceuticalsREGN	PTNQ +0.28 points	0.14%	0.42%
Moderna IncMRNA	PTNQ +0.28 points	0.12%	0.40%
Cadence Design Sys IncCDNS	PTNQ +0.28 points	0.13%	0.41%
Synopsys IncSNPS	PTNQ +0.28 points	0.13%	0.41%
Mercadolibre IncMELI	PTNQ +0.25 points	0.12%	0.37%
Lumentum Holdings IncLITE	PTNQ +0.25 points	0.09%	0.34%
Mondelez International Inc-AMDLZ	PTNQ +0.24 points	0.13%	0.37%
Comcast Corp-Class ACMCSA	PTNQ +0.25 points	0.12%	0.37%
Datadog Inc - Class ADDOG	PTNQ +0.25 points	0.11%	0.36%
Broadcom IncAVGO	PTNQ +0.23 points	2.29%	2.52%
Doordash Inc - ADASH	PTNQ +0.24 points	0.09%	0.33%
Ross Stores IncROST	PTNQ +0.23 points	0.11%	0.34%
American Electric PowerAEP	PTNQ +0.22 points	0.10%	0.32%
Applovin Corp-Class AAPP	PTNQ +0.22 points	0.09%	0.31%
Alphabet Inc-Cl AGOOGL	PTNQ +0.22 points	2.45%	2.67%
Airbnb Inc-Class AABNB	PTNQ +0.21 points	0.10%	0.31%
Honeywell International IncHON	PTNQ +0.22 points	0.10%	0.32%
O'reilly Automotive IncORLY	PTNQ +0.21 points	0.11%	0.32%
Diamondback Energy IncFANG	PTNQ +0.20 points	0.07%	0.27%
Nxp Semiconductors NVNXPI	PTNQ +0.20 points	0.10%	0.30%
Monolithic Power Systems IncMPWR	PTNQ +0.18 points	0.09%	0.27%
Fastenal CoFAST	PTNQ +0.18 points	0.09%	0.27%
Baker Hughes CoBKR	PTNQ +0.17 points	0.08%	0.25%
Paccar IncPCAR	PTNQ +0.16 points	0.08%	0.24%
Autodesk IncADSK	PTNQ +0.16 points	0.08%	0.24%
Keurig Dr Pepper IncKDP	PTNQ +0.15 points	0.07%	0.22%
Astera Labs IncALAB	PTNQ +0.15 points	0.05%	0.20%
Strategy Inc- Class AMSTR	PTNQ +0.15 points	0.06%	0.21%
Xcel Energy IncXEL	PTNQ +0.15 points	0.08%	0.23%
Exelon CorpEXC	PTNQ +0.15 points	0.07%	0.21%
Roper Technologies IncROP	PTNQ +0.14 points	0.07%	0.21%
PayPal Holdings IncPYPL	PTNQ +0.14 points	0.08%	0.22%
Paychex IncPAYX	PTNQ +0.13 points	0.05%	0.18%
Idexx Laboratories IncIDXX	PTNQ +0.14 points	0.06%	0.20%
Teradyne IncTER	PTNQ +0.13 points	0.07%	0.20%
Microchip Technology IncMCHP	PTNQ +0.13 points	0.06%	0.19%
Old Dominion Freight LineODFL	PTNQ +0.12 points	0.04%	0.16%
Workday Inc-Class AWDAY	PTNQ +0.12 points	0.06%	0.18%
Take-Two Interactive SoftwreTTWO	PTNQ +0.12 points	0.04%	0.16%
Axon Enterprise IncAXON	PTNQ +0.11 points	0.05%	0.16%
Ge Healthcare TechnologyGEHC	PTNQ +0.10 points	0.06%	0.16%
Rocket Lab CorpRKLB	PTNQ +0.09 points	0.05%	0.14%
Dexcom IncDXCM	PTNQ +0.09 points	0.05%	0.14%
Coreweave Inc-Cl ACRWV	PTNQ +0.09 points	0.02%	0.11%
Copart IncCPRT	PTNQ +0.09 points	0.04%	0.13%
Alnylam Pharmaceuticals IncALNY	PTNQ +0.07 points	0.03%	0.10%

All 502 ONOF holdings⁠All 103 PTNQ 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.

ONOF vs PTNQ Cost

Overpaying PTNQ vs ONOF

$4,819

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

ONOF 0.39%
$7,898
PTNQ 0.65%
$12,717

Amount$10,000

Years30 years

Cost over time

ONOF 0.39%
PTNQ 0.65%
Overpaying

Year by year

Year	ONOF	PTNQ	Overpaying
10	$705	$1,163	$458
20	$2,725	$4,440	$1,715
30	$7,898	$12,717	$4,819

Expense ratio

0.39%ONOF, cheaper
0.65%PTNQ

ONOF0.39%PTNQ0.65%

0.33%1.78%

Middle half of Trend-Following / Tactical Index funds
Median 0.67%

ONOF 2nd cheapest of 20 funds

PTNQ 8th cheapest of 20 funds

ONOF vs PTNQ Dividends

Last 12 months to Nov 2, 2026

Yield (12M): ONOF 1.23%, better; PTNQ 0.84%
Payout (12M): ONOF $0.49; PTNQ $0.69
Last payment: ONOF $0.16; PTNQ $0.69
Ex-dividend: ONOF Jun 29, 2026; PTNQ Dec 30, 2025
Paid on: ONOF Jul 2, 2026; PTNQ Jan 5, 2026
Frequency: ONOF Twice a year; PTNQ Annual

Distribution history

Per share, 2017 to 2026, same scale for both

ONOFTwice a year · 11 paymentsAll ONOF payments⁠

PTNQAnnual · 8 paymentsAll PTNQ payments⁠

ONOF vs PTNQ Risk

Fall from peak · 5 years

ONOF
PTNQ

Risk facts

VolatilityStd dev, 3 years: ONOF 12.0%, betterPTNQ 14.2%
Return per unit of riskSharpe ratio, 3 years: ONOF 0.82, betterPTNQ 0.59
Worst fallMax drawdown, 5 years: ONOF −26.2%PTNQ −18.5%, better
Market sensitivityBeta, 5 years: ONOF 0.96PTNQ 0.80; Market = 1

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