ONOF vs QQWZ: Grades, Fees and Holdings Compared

Global X Adaptive U.S. Risk Management ETF

ONOFANYSE Arca

Pacer Cash COWZ 100-Nasdaq 100 Rotator ETF

QQWZBNasdaq

Overlap

54.1%by weight

Expense ratio

ONOF −0.10pt a year

ONOF0.39%QQWZ0.49%

Avg volume · 30D

QQWZ 3.4×the volume

ONOF5.82KQQWZ19.5K

ONOF vs QQWZ Performance

Oct 31, 2025 – Oct 30, 2026

+7.7%ONOF−0.3%QQWZ

Expense ratio: ONOF 0.39%, better; QQWZ 0.49%
Fund size: ONOF $140M; QQWZ $42M
1Y total return: ONOF +7.7%, better; QQWZ −0.3%
Yield (12M): ONOF 1.22%, better; QQWZ 0.69%
Holdings: ONOF 504; QQWZ 102
Avg volume (30D): ONOF 5.82K sh; QQWZ 19.5K sh, better
NAV per share: ONOF $40.37; QQWZ $25.71
52W range

ETF.net Grade

Pillar letters and Scores for ONOF, QQWZ, with each pillar’s weight
Pillar	ONOF	QQWZ
Cost30% weight	A95Higher	A84
Mission25% weight	Not scored	Not scored
Risk15% weight	B62Higher	D32
Tradability15% weight	B59	B65Higher
Holdings10% weight	A76Higher	B58
Durability5% weight	B56Higher	D36

Rank among Trend-Following / Tactical Index funds

How we build Categories ›

Same Category. ONOF and QQWZ 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 3rd and QQWZ 6th of 20 funds in the Trend-Following / Tactical Index Category.

Rank 1AWAMAWisdomTree US Adaptive Moving Average FundScore 80
Rank 2APTLCPacer Trendpilot US Large Cap ETFScore 76
Rank 3AONOFGlobal X Adaptive U.S. Risk Management ETFScore 75
Rank 4APTMCPacer Trendpilot US Mid Cap ETFScore 71
Rank 5BWIMAWisdomTree International Adaptive Moving Average FundScore 68
Rank 6BQQWZPacer Cash COWZ 100-Nasdaq 100 Rotator ETFScore 63
Rank 7BPTNQPacer Trendpilot 100 ETFScore 62

Our read on each fund

ETF.net Research

ONOFAGlobal X Adaptive U.S. Risk Management ETF

QQWZBPacer Cash COWZ 100-Nasdaq 100 Rotator 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.

QQWZ No data

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.

QQWZ No data

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

QQWZ No data

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.

QQWZ No data

Full ONOF profile⁠

Full QQWZ profile⁠

ONOF vs QQWZ Holdings

As of Oct 13, 2026

How ONOF and QQWZ differ

Overlap by weight

54.1%

Shared holdings make up 96.8% of QQWZ and 54.1% of ONOF.

Level by level

Holdings92 in both54.1%
Sector11 Sectors76.3%
Countryby domicile97.6%
Asset classEquity100%

Sector

Sector weights in ONOF and QQWZ, widest gap first
Sector	More in ONOFMore in QQWZ	ONOF	QQWZ
Technology	QQWZ +18.5 points	40.2%	58.7%
Financials	ONOF +10.7 points	10.9%	0.2%
Health Care	ONOF +5.0 points	9.4%	4.4%
Energy	ONOF +3.0 points	3.5%	0.5%
Consumer Staples	QQWZ +2.1 points	4.2%	6.3%
Industrials	ONOF +2.0 points	7.8%	5.8%
Consumer Discretionary	QQWZ +1.6 points	8.9%	10.5%
Real Estate	ONOF +1.5 points	1.5%	0.0%
Communication	QQWZ +1.5 points	10.1%	11.6%
Utilities	ONOF +0.8 points	1.9%	1.1%
Materials	ONOF +0.7 points	1.7%	1.0%

Country, concentration and asset class

Country by domicile

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

Concentration

Weight in the 10 largest Holdings

ONOF37.9%
QQWZ47.2%

Securities held

ONOF503
QQWZ101

Asset class

ONOF: Equity
QQWZ: Equity

Holdings

Only in ONOF411
In both92
Only in QQWZ9

Only in ONOF

411 securities, 45.8% of ONOF by weight

Bny Mellon Us Lrg Cap Cor1.72%
Eli Lilly & Co1.45%
JPMorgan Chase & Co1.30%
Berkshire Hathaway Inc-Cl B1.05%
Exxonmobil Holdings Corp1.04%
Visa Inc-Class A Shares0.94%
Johnson & Johnson0.92%
AbbVie Inc0.72%
Mastercard Inc - A0.68%
Chevron Corp0.58%
Caterpillar Inc0.53%
Merck & Co. Inc.0.52%
Procter & Gamble Co/The0.51%
Coca-Cola Co/The0.51%
UnitedHealth Group Inc0.50%
Bank of America Corp0.49%
Ge Aerospace0.47%
Philip Morris International0.46%
Home Depot Inc0.42%
Ge Vernova Inc0.39%
Goldman Sachs Group Inc0.38%
Wells Fargo & Co0.37%
Rtx Corporation0.36%
Thermo Fisher Scientific Inc0.35%
Oracle Corp0.33%
Morgan Stanley0.33%
Citigroup Inc0.33%
Arista Networks Inc0.32%
Intl Business Machines Corp0.31%
Amphenol Corp-Cl A0.31%
Walt Disney Co/The0.27%
Salesforce Inc0.27%
Verizon Communications Inc0.26%
Abbott Laboratories0.26%
Conocophillips0.25%
BlackRock Inc0.25%
Mcdonald's Corp0.24%
American Express Co0.24%
Union Pacific Corp0.24%
Eaton Corp PLC0.24%
Dell Technologies -C0.24%
Nextera Energy Inc0.24%
Welltower Inc0.23%
Pfizer Inc0.23%
Schwab (Charles) Corp0.23%
AT&T Inc0.23%
Deere & Co0.23%
Tjx Companies Inc0.23%
Servicenow Inc0.21%
Boeing Co/The0.21%

Only in QQWZ

9 securities, 3.2% of QQWZ by weight

Shopify Inc0.90%
ASML Holding NV0.67%
ARM Holdings PLC0.42%
PDD Holdings Inc0.22%
Honeywell Aerospace Inc0.22%
Coca-Cola Europacific Partners PLC0.20%
Thomson Reuters Corp0.18%
Nebius Group NV0.17%
Ferrovial NV0.16%

Weight gaps

All 92 Holdings in both funds, largest gap first.

Holding weights in ONOF and QQWZ, widest gap first
Holding	More in ONOFMore in QQWZ	ONOF	QQWZ
Micron Technology IncMU	QQWZ +2.79 points	1.62%	4.41%
Space Exploration Techn-Cl ASPCX	QQWZ +2.76 points	0.16%	2.92%
Advanced Micro DevicesAMD	QQWZ +2.46 points	1.40%	3.86%
Walmart IncWMT	QQWZ +1.74 points	0.71%	2.45%
Tesla IncTSLA	QQWZ +1.46 points	1.68%	3.14%
Intel CorpINTC	QQWZ +1.46 points	0.63%	2.09%
Palantir Technologies Inc-APLTR	QQWZ +1.33 points	0.65%	1.98%
Costco Wholesale CorpCOST	QQWZ +1.27 points	0.62%	1.89%
Cisco Systems IncCSCO	QQWZ +1.15 points	0.66%	1.81%
Meta Platforms IncMETA	QQWZ +0.84 points	2.37%	3.21%
Lam Research CorpLRCX	QQWZ +0.83 points	0.56%	1.39%
Applied Materials IncAMAT	QQWZ +0.81 points	0.58%	1.39%
Amazon.com IncAMZN	QQWZ +0.75 points	3.63%	4.38%
Texas Instruments IncTXN	QQWZ +0.74 points	0.37%	1.11%
Palo Alto Networks IncPANW	QQWZ +0.73 points	0.48%	1.21%
Netflix IncNFLX	QQWZ +0.73 points	0.43%	1.16%
Amgen IncAMGN	QQWZ +0.69 points	0.32%	1.01%
Apple IncAAPL	QQWZ +0.68 points	7.09%	7.77%
Crowdstrike Holdings Inc - ACRWD	QQWZ +0.67 points	0.38%	1.05%
Linde PLCLIN	QQWZ +0.66 points	0.33%	0.99%
NVIDIA CorpNVDA	QQWZ +0.62 points	7.66%	8.28%
T-Mobile Us IncTMUS	QQWZ +0.60 points	0.10%	0.70%
Marvell Technology IncMRVL	QQWZ +0.58 points	0.34%	0.92%
Analog Devices IncADI	QQWZ +0.56 points	0.28%	0.84%
Kla CorpKLAC	QQWZ +0.55 points	0.36%	0.91%
Sandisk CorpSNDK	QQWZ +0.54 points	0.32%	0.86%
Gilead Sciences IncGILD	QQWZ +0.54 points	0.27%	0.81%
Qualcomm IncQCOM	QQWZ +0.53 points	0.27%	0.80%
Pepsico IncPEP	QQWZ +0.53 points	0.25%	0.78%
Seagate Technology HoldingsSTX	QQWZ +0.43 points	0.24%	0.67%
Intuitive Surgical IncISRG	QQWZ +0.42 points	0.22%	0.64%
Western Digital CorpWDC	QQWZ +0.39 points	0.19%	0.58%
Vertex Pharmaceuticals IncVRTX	QQWZ +0.38 points	0.18%	0.57%
Fortinet IncFTNT	QQWZ +0.37 points	0.17%	0.54%
Microsoft CorpMSFT	QQWZ +0.37 points	5.76%	6.13%
Automatic Data ProcessingADP	QQWZ +0.34 points	0.16%	0.50%
Starbucks CorpSBUX	QQWZ +0.33 points	0.15%	0.48%
Booking Holdings IncBKNG	QQWZ +0.33 points	0.18%	0.51%
Marriott International -Cl AMAR	QQWZ +0.33 points	0.12%	0.45%
Moderna IncMRNA	QQWZ +0.31 points	0.11%	0.42%
Monster Beverage CorpMNST	QQWZ +0.30 points	0.09%	0.39%
Adobe IncADBE	QQWZ +0.29 points	0.14%	0.43%
Cintas CorpCTAS	QQWZ +0.28 points	0.10%	0.38%
Intuit IncINTU	QQWZ +0.27 points	0.12%	0.39%
Mercadolibre IncMELI	QQWZ +0.27 points	0.13%	0.40%
Constellation EnergyCEG	QQWZ +0.27 points	0.14%	0.41%
Datadog Inc - Class ADDOG	QQWZ +0.26 points	0.13%	0.39%
Alphabet Inc-Cl CGOOG	QQWZ +0.25 points	2.58%	2.83%
Csx CorpCSX	QQWZ +0.25 points	0.13%	0.38%
Cadence Design Sys IncCDNS	QQWZ +0.24 points	0.14%	0.38%
Applovin Corp-Class AAPP	QQWZ +0.24 points	0.11%	0.35%
Regeneron PharmaceuticalsREGN	QQWZ +0.24 points	0.11%	0.35%
Synopsys IncSNPS	QQWZ +0.23 points	0.14%	0.37%
Mondelez International Inc-AMDLZ	QQWZ +0.22 points	0.12%	0.34%
Comcast Corp-Class ACMCSA	QQWZ +0.22 points	0.11%	0.33%
Doordash Inc - ADASH	QQWZ +0.22 points	0.10%	0.32%
Lumentum Holdings IncLITE	QQWZ +0.22 points	0.10%	0.32%
Airbnb Inc-Class AABNB	QQWZ +0.22 points	0.09%	0.31%
Ross Stores IncROST	QQWZ +0.21 points	0.11%	0.32%
O'reilly Automotive IncORLY	QQWZ +0.21 points	0.10%	0.31%
American Electric PowerAEP	QQWZ +0.20 points	0.10%	0.30%
Honeywell International IncHON	QQWZ +0.19 points	0.10%	0.29%
Diamondback Energy IncFANG	QQWZ +0.18 points	0.06%	0.24%
Monolithic Power Systems IncMPWR	QQWZ +0.18 points	0.09%	0.27%
Nxp Semiconductors NVNXPI	QQWZ +0.17 points	0.09%	0.26%
Fastenal CoFAST	QQWZ +0.18 points	0.08%	0.26%
Strategy Inc- Class AMSTR	QQWZ +0.17 points	0.07%	0.24%
Paccar IncPCAR	QQWZ +0.17 points	0.08%	0.25%
Baker Hughes CoBKR	QQWZ +0.16 points	0.08%	0.24%
Astera Labs IncALAB	QQWZ +0.15 points	0.06%	0.21%
Autodesk IncADSK	QQWZ +0.15 points	0.07%	0.22%
Teradyne IncTER	QQWZ +0.14 points	0.09%	0.23%
Keurig Dr Pepper IncKDP	QQWZ +0.14 points	0.06%	0.20%
PayPal Holdings IncPYPL	QQWZ +0.14 points	0.07%	0.21%
Xcel Energy IncXEL	QQWZ +0.13 points	0.07%	0.20%
Paychex IncPAYX	QQWZ +0.13 points	0.04%	0.17%
Exelon CorpEXC	QQWZ +0.13 points	0.06%	0.19%
Idexx Laboratories IncIDXX	QQWZ +0.13 points	0.06%	0.19%
Old Dominion Freight LineODFL	QQWZ +0.13 points	0.04%	0.17%
Microchip Technology IncMCHP	QQWZ +0.12 points	0.06%	0.18%
Take-Two Interactive SoftwreTTWO	QQWZ +0.11 points	0.05%	0.16%
Roper Technologies IncROP	QQWZ +0.12 points	0.05%	0.17%
Workday Inc-Class AWDAY	QQWZ +0.11 points	0.06%	0.17%
Axon Enterprise IncAXON	QQWZ +0.09 points	0.05%	0.14%
Alnylam Pharmaceuticals IncALNY	QQWZ +0.09 points	0.04%	0.13%
Coreweave Inc-Cl ACRWV	QQWZ +0.09 points	0.03%	0.12%
Rocket Lab CorpRKLB	QQWZ +0.09 points	0.05%	0.14%
Ge Healthcare TechnologyGEHC	QQWZ +0.08 points	0.05%	0.13%
Dexcom IncDXCM	QQWZ +0.08 points	0.05%	0.13%
Broadcom IncAVGO	QQWZ +0.08 points	2.41%	2.49%
Copart IncCPRT	QQWZ +0.07 points	0.04%	0.11%
Alphabet Inc-Cl AGOOGL	QQWZ +0.04 points	3.00%	3.04%

All 502 ONOF holdings⁠All 102 QQWZ 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 QQWZ Cost

Overpaying QQWZ vs ONOF

$1,894

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

ONOF 0.39%
$7,898
QQWZ 0.49%
$9,792

Amount$10,000

Years30 years

Cost over time

ONOF 0.39%
QQWZ 0.49%
Overpaying

Year by year

Year	ONOF	QQWZ	Overpaying
10	$705	$883	$178
20	$2,725	$3,394	$669
30	$7,898	$9,792	$1,894

Expense ratio

0.39%ONOF, cheaper
0.49%QQWZ

ONOF0.39%QQWZ0.49%

0.33%1.78%

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

ONOF 2nd cheapest of 20 funds

QQWZ 4th cheapest of 20 funds

ONOF vs QQWZ Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ONOF 1.22%, better; QQWZ 0.69%
Payout (12M): ONOF $0.49; QQWZ $0.18
Last payment: ONOF $0.16; QQWZ $0.02
Ex-dividend: ONOF Jun 29, 2026; QQWZ Sep 3, 2026
Paid on: ONOF Jul 2, 2026; QQWZ Sep 8, 2026
Frequency: ONOF Twice a year; QQWZ Quarterly

Distribution history

Per share, 2021 to 2026, same scale for both

ONOFTwice a year · 11 paymentsAll ONOF payments⁠

QQWZQuarterly · 6 paymentsAll QQWZ payments⁠

ONOF vs QQWZ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: ONOF 12.0%QQWZ 18.0%since Jun 2025
Return per unit of riskSharpe ratio, 3 years: ONOF 0.82QQWZ 0.62since Jun 2025
Worst fallMax drawdown, 5 years: ONOF −26.2%QQWZ −13.7%since May 2025
Market sensitivityBeta, 5 years: ONOF 0.96QQWZ 0.68; Market = 1

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