ATMP vs. ONON
ATMP (Barclays ETN+ Select MLP ETN) is MLPs fund tracking the CIBC Atlas Select MLP VWAP, while ONON (On Holding AG) is a stock. Over the past 3 years, ATMP returned 21.55%/yr vs 9.06%/yr for ONON. At a 0.23 correlation, their price movements are largely independent.
Performance
ATMP vs. ONON - Performance Comparison
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Returns By Period
In the year-to-date period, ATMP achieves a 20.60% return, which is significantly higher than ONON's -17.00% return.
ATMP
- 1D
- 0.46%
- 1M
- -3.30%
- YTD
- 20.60%
- 6M
- 20.43%
- 1Y
- 18.09%
- 3Y*
- 21.55%
- 5Y*
- 15.05%
- 10Y*
- 5.20%
ONON
- 1D
- -1.61%
- 1M
- 4.72%
- YTD
- -17.00%
- 6M
- -20.88%
- 1Y
- -26.18%
- 3Y*
- 9.06%
- 5Y*
- —
- 10Y*
- —
ATMP vs. ONON - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ATMP Barclays ETN+ Select MLP ETN | 20.60% | 1.73% | 31.66% | 14.51% | 20.71% | 1.30% |
ONON On Holding AG | -17.00% | -15.14% | 103.08% | 57.17% | -54.62% | 6.81% |
Correlation
The correlation between ATMP and ONON is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021 | 0.23 |
The correlation between ATMP and ONON shifts across timeframes, from -0.05 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ATMP vs. ONON — Risk / Return Rank
ATMP
ONON
ATMP vs. ONON - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Barclays ETN+ Select MLP ETN (ATMP) 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.
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.
| ATMP | ONON | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.99 | ||
| Sortino ratioReturn per unit of downside risk | +2.72 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.90 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | -0.75 | +3.28 |
| Martin ratioReturn relative to average drawdown | 5.89 | -1.37 | +7.26 |
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Drawdowns
ATMP vs. ONON - Drawdown Comparison
The maximum ATMP drawdown since its inception was -80.86%, which is greater than ONON's maximum drawdown of -68.90%. Use the drawdown chart below to compare losses from any high point for ATMP and ONON.
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Drawdown Indicators
| ATMP | ONON | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.86% | -68.90% | -11.96% |
Max Drawdown (1Y)Largest decline over 1 year | -7.30% | -41.35% | +34.05% |
Max Drawdown (3Y)Largest decline over 3 years | -16.48% | -49.89% | +33.41% |
Max Drawdown (5Y)Largest decline over 5 years | -22.98% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -75.66% | — | — |
Current DrawdownCurrent decline from peak | -5.61% | -39.36% | +33.75% |
Average DrawdownAverage peak-to-trough decline | -31.08% | -36.00% | +4.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.13% | 24.17% | -21.04% |
Volatility
ATMP vs. ONON - Volatility Comparison
The current volatility for Barclays ETN+ Select MLP ETN (ATMP) is 5.64%, while On Holding AG (ONON) has a volatility of 10.19%. This indicates that ATMP 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.
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Volatility by Period
| ATMP | ONON | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.64% | 10.19% | -4.55% |
Volatility (6M)Calculated over the trailing 6-month period | 10.99% | 31.15% | -20.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.18% | 45.23% | -31.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.25% | 57.14% | -34.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.67% | 57.14% | -29.47% |
Dividends
ATMP vs. ONON - Dividend Comparison
Neither ATMP nor ONON has paid dividends to shareholders.
Frequently Asked Questions
ATMP and ONON have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ONON has higher volatility (10.19%) compared to ATMP (5.64%). In terms of maximum drawdown, ATMP dropped -80.86% vs ONON's -68.90%.
ATMP currently has the higher Sharpe Ratio (1.30 vs -0.68), 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.
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