- ISIN
- US74347G5238
- Issuer
- ProShares
- Inception Date
- Oct 26, 2021
- Region
- Global (Broad)
- Category
- Communications Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- FactSet On-Demand Index
- Distribution Policy
- Accumulating
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Growth
- Assets Under Management
- $3M
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
OND Performance Chart
ProShares On-Demand ETF (OND) is down 17.1% since the beginning of the year. OND is currently trading at $34 per share.
Loading charts...
Returns By Period
ProShares On-Demand ETF (OND) has returned -17.08% so far this year and -14.33% over the past 12 months.
ProShares On-Demand ETF
- 1D
- -1.46%
- 1M
- -3.14%
- YTD
- -17.08%
- 6M
- -17.59%
- 1Y
- -14.33%
- 3Y*
- 14.80%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
OND Monthly Returns History
Based on dividend-adjusted daily data since Oct 27, 2021, OND's average daily return is 0.00%, while the average monthly return is +0.01%. At this rate, an investment would double in approximately 577.7 years.
Historically, 47% of months were positive and 53% were negative. The best month was Jan 2023 with a return of +15.4%, while the worst month was Apr 2022 at -15.9%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 9 months.
On a daily basis, OND closed higher 51% of trading days. The best single day was Nov 10, 2022 with a return of +8.8%, while the worst single day was Apr 4, 2025 at -6.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -4.90% | -6.86% | -8.40% | 4.78% | 0.57% | -3.00% | -17.08% | ||||||
| 2025 | 3.33% | 3.75% | -5.37% | 6.32% | 9.04% | 12.39% | -1.15% | 4.70% | 8.46% | -4.11% | -7.90% | -3.30% | 26.72% |
| 2024 | -0.91% | 9.16% | 4.54% | -3.00% | 3.43% | 3.79% | -1.08% | 3.51% | 9.94% | 0.71% | 5.88% | -6.60% | 32.00% |
| 2023 | 15.40% | -7.66% | 5.94% | -2.70% | 2.41% | 7.13% | 7.56% | -8.06% | -7.31% | -1.27% | 14.54% | 1.70% | 27.03% |
| 2022 | -13.31% | -5.82% | -4.63% | -15.89% | -1.88% | -9.67% | 8.70% | -3.57% | -13.03% | 1.17% | 10.97% | -2.26% | -41.93% |
| 2021 | -0.85% | -8.71% | -6.14% | -15.04% |
Benchmark Metrics
ProShares On-Demand ETF has an annualized alpha of -11.97%, beta of 1.11, and R2 of 0.50 versus S&P 500 Index. Calculated based on daily prices since October 27, 2021.
- This ETF participated in 139.21% of S&P 500 Index downside but only 84.73% of its upside - more exposed to losses than it benefited from rallies.
- This ETF had an annualized alpha of -11.97% versus S&P 500 Index - delivering less than market exposure alone would predict.
- With beta of 1.11 and R2 of 0.50, this ETF moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -11.97%
- Beta
- 1.11
- R²
- 0.50
- Upside Capture
- 84.73%
- Downside Capture
- 139.21%
Expense Ratio
OND has an expense ratio of 0.58%, placing it in the medium range.
Return for Risk
Risk / Return Rank
OND ranks 4 for risk / return — in the bottom 4% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for ProShares On-Demand ETF (OND) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| OND | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.72 | ||
| Sortino ratioReturn per unit of downside risk | -3.62 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.37 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.43 | 2.78 | -3.21 |
| Martin ratioReturn relative to average drawdown | -0.76 | 12.44 | -13.20 |
Dividends
Dividend History
ProShares On-Demand ETF provided a 0.00% dividend yield over the last twelve months, with an annual payout of $0.00 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Dividend | $0.00 | $0.00 | $0.00 | $0.19 | $0.00 | $0.01 |
Dividend yield | 0.00% | 0.00% | 0.00% | 0.78% | 0.00% | 0.02% |
Monthly Dividends
The table displays the monthly dividend distributions for ProShares On-Demand ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.19 | $0.19 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2021 | $0.01 | $0.01 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Loading charts...
Worst Drawdowns
The table below displays the maximum drawdowns of the ProShares On-Demand ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the ProShares On-Demand ETF was 59.02%, occurring on Oct 14, 2022. Recovery took 673 trading sessions.
The current ProShares On-Demand ETF drawdown is 30.12%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -59.02%Oct 2022 | 11mo 1d | 2y 8mo | 3y 7moNov 2021 - Jun 2025 |
2026 bear market2026 | -33.80%Mar 2026 | 5mo 24d | — | 8mo 20dOct 2025 - now |
2025 pullback2025 | -5.02%Aug 2025 | 8d | 11d | 19dJul 2025 - Aug 2025 |
2021 pullback2021 | -3.27%Nov 2021 | 3d | 6d | 9dNov 2021 - Nov 2021 |
2025 pullback2025 | -2.68%Sep 2025 | 3d | 7d | 10dSep 2025 - Oct 2025 |
Drawdown Indicators
| OND | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.02% | -56.78% | -2.24% |
Max Drawdown (1Y)Largest decline over 1 year | -33.80% | -9.10% | -24.70% |
Max Drawdown (3Y)Largest decline over 3 years | -33.80% | -18.90% | -14.90% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -30.12% | -1.80% | -28.32% |
Average DrawdownAverage peak-to-trough decline | -30.28% | -10.71% | -19.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.95% | 2.03% | +16.92% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with OND
Add ProShares On-Demand ETF to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with OND