AIRO vs. ONDS

Last updated Aug 1, 2026

AIRO (AIRO Group Holdings, Inc) and ONDS (Ondas Holdings Inc.) are both stocks. AIRO operates in Aerospace & Defense (Industrials), while ONDS operates in Communication Equipment (Technology). Over the past year, AIRO returned -66.50% vs 240.45% for ONDS. Their 0.45 correlation means their historical movements had little consistent relationship.

Performance

AIRO vs. ONDS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AIRO Group Holdings, Inc (AIRO) and Ondas Holdings Inc. (ONDS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIRO achieves a -17.60% return, which is significantly higher than ONDS's -23.26% return.

AIRO

• 1D: 2.90%
• 1M: -11.32%
• 6M: -34.50%
• YTD: -17.60%
• 1Y: -66.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -43.68%

ONDS

• 1D: -1.19%
• 1M: 1.08%
• 6M: -27.70%
• YTD: -23.26%
• 1Y: 240.45%
• 3Y*: 63.94%
• 5Y*: -1.14%
• 10Y*: —
• ALL TIME*: -7.31%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AIRO AIRO Group Holdings, Inc	$2.37M	$2.54M	$4.06M
ONDS Ondas Holdings Inc.	$862.96M	$784.85M	$773.68M

AIRO vs. ONDS - Yearly Performance Comparison

	2026 (YTD)	2025
AIRO AIRO Group Holdings, Inc	-17.60%	-36.59%
ONDS Ondas Holdings Inc.	-23.26%	470.76%

Correlation

The correlation between AIRO and ONDS is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.51
Correlation (All Time) Calculated using the full available price history since Jun 13, 2025	0.45

The correlation between AIRO and ONDS has been stable across timeframes, ranging from 0.45 to 0.51 - a consistent structural relationship.

Fundamentals

Market Cap AIRO : $211.94M ONDS : $4.27B
EPS AIRO : $0.38 ONDS : $1.52
PE Ratio AIRO : 17.53 ONDS : 4.94
PS Ratio AIRO : 1.92 ONDS : 12.45
Total Revenue (TTM) AIRO : $90.91M ONDS : $96.60M
Gross Profit (TTM) AIRO : $54.42M ONDS : $43.33M
EBITDA (TTM) AIRO : -$28.77M ONDS : -$75.39M

Return for Risk

AIRO vs. ONDS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AIRO

AIRO Risk / Return Rank: 11
AIRO Sharpe Ratio Rank: 9
AIRO Sortino Ratio Rank: 9
AIRO Omega Ratio Rank: 11
AIRO Calmar Ratio Rank: 9
AIRO Martin Ratio Rank: 16

ONDS

ONDS Risk / Return Rank: 90
ONDS Sharpe Ratio Rank: 92
ONDS Sortino Ratio Rank: 91
ONDS Omega Ratio Rank: 86
ONDS Calmar Ratio Rank: 94
ONDS Martin Ratio Rank: 89

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AIRO vs. ONDS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AIRO Group Holdings, Inc (AIRO) and Ondas Holdings Inc. (ONDS). 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.

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.

	AIRO	ONDS	Difference
Sharpe ratio: Return per unit of total volatility	-0.80	2.03	-2.83
Sortino ratio: Return per unit of downside risk	-1.27	2.79	-4.06
Omega ratio: Gain probability vs. loss probability	0.86	1.31	-0.45
Calmar ratio: Return relative to maximum drawdown	-0.88	4.77	-5.66
Martin ratio: Return relative to average drawdown	-1.19	8.87	-10.06

AIRO vs. ONDS - Sharpe Ratio Comparison

The current AIRO Sharpe Ratio is -0.80, which is lower than the ONDS Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of AIRO and ONDS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AIRO vs. ONDS - Drawdown Comparison

The maximum AIRO drawdown since its inception was -81.13%, smaller than the maximum ONDS drawdown of -98.28%. Use the drawdown chart below to compare losses from any high point for AIRO and ONDS.

Drawdown Indicators

	AIRO	ONDS	Difference
Max Drawdown Largest peak-to-trough decline	-81.13%	-98.28%	+17.15%
Max Drawdown (1Y) Largest decline over 1 year	-77.32%	-53.43%	-23.89%
Max Drawdown (3Y) Largest decline over 3 years	—	-77.14%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-96.99%	—
Current Drawdown Current decline from peak	-78.26%	-61.59%	-16.67%
Average Drawdown Average peak-to-trough decline	-57.02%	-71.18%	+14.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	57.43%	28.69%	+28.74%

Volatility

AIRO vs. ONDS - Volatility Comparison

The current volatility for AIRO Group Holdings, Inc (AIRO) is 23.59%, while Ondas Holdings Inc. (ONDS) has a volatility of 28.24%. This indicates that AIRO experiences smaller price fluctuations and is considered to be less risky than ONDS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIRO	ONDS	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.59%	28.24%	-4.65%
Volatility (6M) Calculated over the trailing 6-month period	60.60%	72.41%	-11.81%
Volatility (1Y) Calculated over the trailing 1-year period	85.14%	125.85%	-40.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	126.61%	114.37%	+12.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	126.61%	120.11%	+6.50%

Dividends

AIRO vs. ONDS - Dividend Comparison

Neither AIRO nor ONDS has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both AIRO and ONDS in my portfolio?

AIRO and ONDS have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIRO or ONDS?

ONDS has higher volatility (28.24%) compared to AIRO (23.59%). In terms of maximum drawdown, AIRO dropped -81.13% vs ONDS's -98.28%.

Which has better risk-adjusted returns?

ONDS currently has the higher Sharpe Ratio (2.03 vs -0.80), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.