ESBG vs. ONOF
ESBG (First Trust Enhanced Stocks, Bonds & Gold ETF) and ONOF (Global X Adaptive U.S. Risk Management ETF) are both Tactical Allocation funds. ESBG is actively managed, while ONOF is passively managed. A 0.60 correlation means they provide meaningful diversification when combined. ESBG charges 0.95%/yr vs 0.39%/yr for ONOF.
Performance
ESBG vs. ONOF - Performance Comparison
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Returns By Period
In the year-to-date period, ESBG achieves a -2.86% return, which is significantly lower than ONOF's 6.70% return.
ESBG
- 1D
- -2.33%
- 1M
- -2.85%
- 6M
- -8.17%
- YTD
- -2.86%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ONOF
- 1D
- -0.67%
- 1M
- 1.21%
- 6M
- 4.75%
- YTD
- 6.70%
- 1Y
- 17.25%
- 3Y*
- 11.57%
- 5Y*
- 8.35%
- 10Y*
- —
ESBG vs. ONOF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ESBG First Trust Enhanced Stocks, Bonds & Gold ETF | -2.86% | 5.67% |
ONOF Global X Adaptive U.S. Risk Management ETF | 6.70% | 3.65% |
Correlation
The correlation between ESBG and ONOF is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 19, 2025 | 0.60 |
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Return for Risk
ESBG vs. ONOF — Risk / Return Rank
ESBG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ONOF
ESBG vs. ONOF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Enhanced Stocks, Bonds & Gold ETF (ESBG) and Global X Adaptive U.S. Risk Management ETF (ONOF). 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.
| ESBG | ONOF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.26 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.53 | — |
| Martin ratioReturn relative to average drawdown | — | 8.15 | — |
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Drawdowns
ESBG vs. ONOF - Drawdown Comparison
The maximum ESBG drawdown since its inception was -18.84%, smaller than the maximum ONOF drawdown of -26.21%. Use the drawdown chart below to compare losses from any high point for ESBG and ONOF.
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Drawdown Indicators
| ESBG | ONOF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.84% | -26.21% | +7.37% |
Max Drawdown (1Y)Largest decline over 1 year | — | -6.86% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -21.67% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.21% | — |
Current DrawdownCurrent decline from peak | -17.63% | -1.26% | -16.37% |
Average DrawdownAverage peak-to-trough decline | -7.74% | -6.07% | -1.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.12% | — |
Volatility
ESBG vs. ONOF - Volatility Comparison
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Volatility by Period
| ESBG | ONOF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.11% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 9.04% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 25.71% | 11.93% | +13.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.71% | 14.43% | +11.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.71% | 14.36% | +11.35% |
ESBG vs. ONOF - Expense Ratio Comparison
ESBG has a 0.95% expense ratio, which is higher than ONOF's 0.39% expense ratio.
Dividends
ESBG vs. ONOF - Dividend Comparison
ESBG's dividend yield for the trailing twelve months is around 1.12%, less than ONOF's 1.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
ESBG First Trust Enhanced Stocks, Bonds & Gold ETF | 1.12% | 0.24% | 0.00% | 0.00% | 0.00% | 0.00% |
ONOF Global X Adaptive U.S. Risk Management ETF | 1.23% | 1.38% | 0.93% | 1.37% | 1.92% | 0.69% |
Frequently Asked Questions
ESBG and ONOF have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ONOF is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ONOF is cheaper with a 0.39% expense ratio, compared with 0.95% for ESBG.
ONOF has the higher dividend yield at 1.23%, compared with 1.12% for ESBG.
They also come from different issuers: First Trust and Global X. Their fees differ too: 0.95% for ESBG and 0.39% for ONOF.
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