ADDYY vs. ONON

Last updated Apr 1, 2026

Compare and contrast key facts about Adidas AG ADR (ADDYY) and On Holding AG (ONON).

Performance

ADDYY vs. ONON - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Adidas AG ADR (ADDYY) and On Holding AG (ONON). The values are adjusted to include any dividend payments, if applicable.

ADDYY vs. ONON - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ADDYY Adidas AG ADR	-18.88%	-18.11%	20.16%	50.70%	-52.02%	-14.67%
ONON On Holding AG	-26.81%	-15.14%	103.08%	57.17%	-54.62%	8.03%

Fundamentals

Market Cap ADDYY : $28.65B ONON : $11.37B
EPS ADDYY : $3.75 ONON : $0.61
PE Ratio ADDYY : 21.40 ONON : 56.18
PEG Ratio ADDYY : 0.20 ONON : 0.82
PS Ratio ADDYY : 1.16 ONON : 3.80
PB Ratio ADDYY : 4.96 ONON : 6.96
Total Revenue (TTM) ADDYY : $24.75B ONON : $3.01B
Gross Profit (TTM) ADDYY : $12.78B ONON : $1.89B
EBITDA (TTM) ADDYY : $3.24B ONON : $364.21M

Returns By Period

In the year-to-date period, ADDYY achieves a -18.88% return, which is significantly higher than ONON's -26.81% return.

ADDYY

• 1D: 5.58%
• 1M: -14.00%
• YTD: -18.88%
• 6M: -24.33%
• 1Y: -31.43%
• 3Y*: -2.64%
• 5Y*: -12.28%
• 10Y*: 4.52%

ONON

• 1D: 6.71%
• 1M: -26.81%
• YTD: -26.81%
• 6M: -19.67%
• 1Y: -22.54%
• 3Y*: 3.11%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

ADDYY vs. ONON — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ADDYY

ADDYY Risk / Return Rank: 10
ADDYY Sharpe Ratio Rank: 8
ADDYY Sortino Ratio Rank: 10
ADDYY Omega Ratio Rank: 10
ADDYY Calmar Ratio Rank: 12
ADDYY Martin Ratio Rank: 8

ONON

ONON Risk / Return Rank: 24
ONON Sharpe Ratio Rank: 22
ONON Sortino Ratio Rank: 23
ONON Omega Ratio Rank: 23
ONON Calmar Ratio Rank: 27
ONON Martin Ratio Rank: 26

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ADDYY vs. ONON - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Adidas AG ADR (ADDYY) and On Holding AG (ONON). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ADDYY	ONON	Difference
Sharpe ratio Return per unit of total volatility	-0.85	-0.44	-0.42
Sortino ratio Return per unit of downside risk	-1.11	-0.36	-0.75
Omega ratio Gain probability vs. loss probability	0.86	0.96	-0.10
Calmar ratio Return relative to maximum drawdown	-0.82	-0.48	-0.34
Martin ratio Return relative to average drawdown	-1.57	-0.96	-0.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ADDYY vs. ONON - Sharpe Ratio Comparison

The current ADDYY Sharpe Ratio is -0.85, which is lower than the ONON Sharpe Ratio of -0.44. The chart below compares the historical Sharpe Ratios of ADDYY and ONON, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ADDYY	ONON	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.85	-0.44	-0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.33	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.13	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.03	-0.01	+0.04

Correlation

The correlation between ADDYY and ONON is 0.40, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ADDYY vs. ONON - Dividend Comparison

ADDYY's dividend yield for the trailing twelve months is around 1.35%, while ONON has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADDYY Adidas AG ADR	1.35%	1.09%	0.31%	0.38%	2.69%	0.88%	0.00%	0.82%	1.12%	0.80%	4.16%	1.24%
ONON On Holding AG	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

ADDYY vs. ONON - Drawdown Comparison

The maximum ADDYY drawdown since its inception was -91.70%, which is greater than ONON's maximum drawdown of -68.90%. Use the drawdown chart below to compare losses from any high point for ADDYY and ONON.

Drawdown Indicators

	ADDYY	ONON	Difference
Max Drawdown Largest peak-to-trough decline	-91.70%	-68.90%	-22.80%
Max Drawdown (1Y) Largest decline over 1 year	-39.73%	-47.46%	+7.73%
Max Drawdown (5Y) Largest decline over 5 years	-76.64%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-76.64%	—	—
Current Drawdown Current decline from peak	-58.16%	-46.53%	-11.63%
Average Drawdown Average peak-to-trough decline	-52.56%	-35.73%	-16.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.72%	23.86%	-3.14%

Volatility

ADDYY vs. ONON - Volatility Comparison

The current volatility for Adidas AG ADR (ADDYY) is 9.80%, while On Holding AG (ONON) has a volatility of 19.78%. This indicates that ADDYY experiences smaller price fluctuations and is considered to be less risky than ONON based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ADDYY	ONON	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.80%	19.78%	-9.98%
Volatility (6M) Calculated over the trailing 6-month period	23.56%	35.25%	-11.69%
Volatility (1Y) Calculated over the trailing 1-year period	36.94%	51.57%	-14.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.35%	57.86%	-20.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.97%	57.86%	-23.89%

Financials

ADDYY vs. ONON - Profitability Comparison

The chart below illustrates the profitability comparison between Adidas AG ADR and On Holding AG over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ADDYY - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Adidas AG ADR reported a gross profit of 3.06B and revenue of 6.02B. Therefore, the gross margin over that period was 50.8%.

ONON - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, On Holding AG reported a gross profit of 471.69M and revenue of 738.15M. Therefore, the gross margin over that period was 63.9%.

ADDYY - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Adidas AG ADR reported an operating income of 142.65M and revenue of 6.02B, resulting in an operating margin of 2.4%.

ONON - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, On Holding AG reported an operating income of 81.87M and revenue of 738.15M, resulting in an operating margin of 11.1%.

ADDYY - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Adidas AG ADR reported a net income of 80.24M and revenue of 6.02B, resulting in a net margin of 1.3%.

ONON - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, On Holding AG reported a net income of 68.57M and revenue of 738.15M, resulting in a net margin of 9.3%.