NVDU vs. ONDG

Last updated Jun 24, 2026

NVDU (Direxion Daily NVDA Bull 2X Shares ETF) and ONDG (Leverage Shares 2X Long ONDS Daily ETF) are both Leveraged Equities funds. NVDU is actively managed, while ONDG is passively managed. At a 0.38 correlation, their price movements are largely independent. NVDU charges 1.04%/yr vs 0.75%/yr for ONDG.

Performance

NVDU vs. ONDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily NVDA Bull 2X Shares ETF (NVDU) and Leverage Shares 2X Long ONDS Daily ETF (ONDG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NVDU

• 1D: -8.71%
• 1M: -16.05%
• YTD: 2.08%
• 6M: -1.18%
• 1Y: 51.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ONDG

• 1D: -7.96%
• 1M: -16.20%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVDU vs. ONDG - Yearly Performance Comparison

	2026 (YTD)
NVDU Direxion Daily NVDA Bull 2X Shares ETF	4.13%
ONDG Leverage Shares 2X Long ONDS Daily ETF	-74.90%

Correlation

The correlation between NVDU and ONDG is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 13, 2026	0.38

Return for Risk

NVDU vs. ONDG — Risk / Return Rank

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

NVDU

NVDU Risk / Return Rank: 24
NVDU Sharpe Ratio Rank: 22
NVDU Sortino Ratio Rank: 26
NVDU Omega Ratio Rank: 25
NVDU Calmar Ratio Rank: 26
NVDU Martin Ratio Rank: 22

ONDG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

NVDU vs. ONDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NVDA Bull 2X Shares ETF (NVDU) and Leverage Shares 2X Long ONDS Daily ETF (ONDG). 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.

	NVDU	ONDG	Difference
Sharpe ratio: Return per unit of total volatility	0.74	—	—
Sortino ratio: Return per unit of downside risk	1.40	—	—
Omega ratio: Gain probability vs. loss probability	1.17	—	—
Calmar ratio: Return relative to maximum drawdown	1.23	—	—
Martin ratio: Return relative to average drawdown	2.70	—	—

Drawdowns

NVDU vs. ONDG - Drawdown Comparison

The maximum NVDU drawdown since its inception was -67.27%, smaller than the maximum ONDG drawdown of -76.26%. Use the drawdown chart below to compare losses from any high point for NVDU and ONDG.

Drawdown Indicators

	NVDU	ONDG	Difference
Max Drawdown Largest peak-to-trough decline	-67.27%	-76.26%	+8.99%
Max Drawdown (1Y) Largest decline over 1 year	-42.27%	—	—
Current Drawdown Current decline from peak	-30.48%	-76.26%	+45.78%
Average Drawdown Average peak-to-trough decline	-18.91%	-56.02%	+37.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.30%	—	—

Volatility

Volatility by Period

	NVDU	ONDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.33%	—	—
Volatility (6M) Calculated over the trailing 6-month period	53.28%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	70.48%	209.38%	-138.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	91.03%	209.38%	-118.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.03%	209.38%	-118.35%

NVDU vs. ONDG - Expense Ratio Comparison

NVDU has a 1.04% expense ratio, which is higher than ONDG's 0.75% expense ratio.

Dividends

NVDU vs. ONDG - Dividend Comparison

NVDU's dividend yield for the trailing twelve months is around 5.68%, while ONDG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
NVDU Direxion Daily NVDA Bull 2X Shares ETF	5.68%	5.68%	16.85%	0.63%
ONDG Leverage Shares 2X Long ONDS Daily ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NVDU and ONDG in my portfolio?

NVDU and ONDG have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NVDU or ONDG?

On fees, ONDG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NVDU or ONDG?

ONDG is cheaper with a 0.75% expense ratio, compared with 1.04% for NVDU.

Which ETF pays a higher dividend yield, NVDU or ONDG?

NVDU has the higher dividend yield at 5.68%, compared with 0.00% for ONDG.

What is the main difference between NVDU and ONDG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 1.04% for NVDU and 0.75% for ONDG.