- ISIN
- US88636X6581
- CUSIP
- 88636X658
- Issuer
- Defiance
- Inception Date
- Dec 29, 2025
- Region
- North America (United States)
- Category
- Leveraged Equities
- Leveraged
- 2x
- Index Tracked
- Ondas Holdings Inc. (ONDS)
- Asset Class
- Equity
- Assets Under Management
- $46M
Share Price Chart
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Performance
ONDL Performance Chart
Defiance Daily Target 2X Long ONDS ETF (ONDL) is down 56.3% since the beginning of the year. ONDL is currently trading at $12 per share.
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Returns By Period
Defiance Daily Target 2X Long ONDS ETF
- 1D
- 2.77%
- 1M
- -10.09%
- YTD
- -56.34%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.00%
- 1M
- -0.71%
- YTD
- 8.39%
- 6M
- 8.57%
- 1Y
- 24.33%
- 3Y*
- 18.94%
- 5Y*
- 12.24%
- 10Y*
- 13.54%
ONDL Monthly Returns History
Based on dividend-adjusted daily data since Dec 30, 2025, ONDL's average daily return is +0.41%, while the average monthly return is -1.44%.
Historically, 43% of months were positive and 57% were negative. The best month was May 2026 with a return of +49.0%, while the worst month was Jun 2026 at -55.1%. The longest winning streak lasted 2 consecutive months, and the longest losing streak was 3 months.
On a daily basis, ONDL closed higher 47% of trading days. The best single day was May 14, 2026 with a return of +50.5%, while the worst single day was Feb 4, 2026 at -29.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -1.33% | -18.89% | -28.18% | 13.61% | 49.01% | -55.13% | -56.34% | ||||||
| 2025 | 30.85% | 30.85% |
Benchmark Metrics
Defiance Daily Target 2X Long ONDS ETF has an annualized alpha of 7.01%, beta of 5.84, and R2 of 0.15 versus S&P 500 Index. Calculated based on daily prices since December 30, 2025.
- This ETF captured 738.54% of S&P 500 Index gains and 401.55% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- R2 of 0.15 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 7.01%
- Beta
- 5.84
- R²
- 0.15
- Upside Capture
- 738.54%
- Downside Capture
- 401.55%
Expense Ratio
ONDL has a high expense ratio of 1.31%, indicating above-average management fees.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Defiance Daily Target 2X Long ONDS ETF (ONDL) 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.
| ONDL | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.35 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.66 | — |
| Martin ratioReturn relative to average drawdown | — | 11.86 | — |
Dividends
Dividend History
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Defiance Daily Target 2X Long ONDS 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 Defiance Daily Target 2X Long ONDS ETF was 78.06%, occurring on Jun 17, 2026. The portfolio has not yet recovered.
The current Defiance Daily Target 2X Long ONDS ETF drawdown is 77.46%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -78.06%Jun 2026 | 5mo 9d | — | 5mo 14dJan 2026 - now |
2026 pullback2026 | -8.91%Jan 2026 | 0s | 1d | 1dJan 2026 - Jan 2026 |
Drawdown Indicators
| ONDL | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.06% | -56.78% | -21.28% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
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 | -77.46% | -2.49% | -74.97% |
Average DrawdownAverage peak-to-trough decline | -54.59% | -10.72% | -43.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.03% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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