OND vs. BPH

Last updated Jun 4, 2026

OND (ProShares On-Demand ETF) and BPH (BP p.l.c. ADRhedged ETF) are both exchange-traded funds - OND is a Communications Equities fund tracking the FactSet On-Demand Index, while BPH is a Oil & Gas fund actively managed by Precidian. OND is passively managed, while BPH is actively managed. At a correlation of -0.09, they often move in opposite directions. OND charges 0.58%/yr vs 0.19%/yr for BPH.

Performance

OND vs. BPH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares On-Demand ETF (OND) and BP p.l.c. ADRhedged ETF (BPH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

OND

• 1D: -2.21%
• 1M: 1.68%
• YTD: -14.28%
• 6M: -16.72%
• 1Y: -8.96%
• 3Y*: 16.43%
• 5Y*: —
• 10Y*: —

BPH

• 1D: 1.20%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OND vs. BPH - Yearly Performance Comparison

	2026 (YTD)
OND ProShares On-Demand ETF	-0.92%
BPH BP p.l.c. ADRhedged ETF	2.83%

Correlation

The correlation between OND and BPH is -0.09, 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 (All Time) Calculated using the full available price history since May 27, 2026	-0.09

OND vs. BPH - Sectors Allocation Comparison

Sectors	OND	BPH
Technology	24.8%	-
Communication Services	23.5%	-
Industrials	4.2%	-
Real Estate	3.3%	-
Consumer Cyclical	2.0%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	100.0%
Financial Services	-	-
Healthcare	-	-
Utilities	-	-

Return for Risk

OND vs. BPH — Risk / Return Rank

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

OND

OND Risk / Return Rank: 5
OND Sharpe Ratio Rank: 5
OND Sortino Ratio Rank: 5
OND Omega Ratio Rank: 5
OND Calmar Ratio Rank: 6
OND Martin Ratio Rank: 6

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.

OND vs. BPH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares On-Demand ETF (OND) and BP p.l.c. ADRhedged ETF (BPH). 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.

	OND	BPH	Difference
Sharpe ratio Return per unit of total volatility	-0.44	—	—
Sortino ratio Return per unit of downside risk	-0.48	—	—
Omega ratio Gain probability vs. loss probability	0.94	—	—
Calmar ratio Return relative to maximum drawdown	-0.27	—	—
Martin ratio Return relative to average drawdown	-0.50	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	OND	BPH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.44	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.08	9.48	-9.56

Drawdowns

OND vs. BPH - Drawdown Comparison

The maximum OND drawdown since its inception was -59.02%, which is greater than BPH's maximum drawdown of -2.35%. Use the drawdown chart below to compare losses from any high point for OND and BPH.

Drawdown Indicators

	OND	BPH	Difference
Max Drawdown Largest peak-to-trough decline	-59.02%	-2.35%	-56.67%
Max Drawdown (1Y) Largest decline over 1 year	-33.80%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-33.80%	—	—
Current Drawdown Current decline from peak	-27.76%	0.00%	-27.76%
Average Drawdown Average peak-to-trough decline	-30.32%	-1.08%	-29.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.81%	—	—

Volatility

Volatility by Period

	OND	BPH	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.40%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.38%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.57%	25.75%	-5.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.15%	25.75%	+1.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.15%	25.75%	+1.40%

OND vs. BPH - Expense Ratio Comparison

OND has a 0.58% expense ratio, which is higher than BPH's 0.19% expense ratio.

Dividends

OND vs. BPH - Dividend Comparison

Neither OND nor BPH has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
BPH BP p.l.c. ADRhedged ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
OND ProShares On-Demand ETF	0.00%	0.00%	0.00%	0.78%	0.00%	0.02%

Frequently Asked Questions

Can I hold both OND and BPH in my portfolio?

OND and BPH have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, OND or BPH?

On fees, BPH is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, OND or BPH?

BPH is cheaper with a 0.19% expense ratio, compared with 0.58% for OND.

Which ETF pays a higher dividend yield, OND or BPH?

OND and BPH have nearly identical dividend yields, around 0.00%.

What is the main difference between OND and BPH?

OND is categorized as Communications Equities, while BPH is Oil & Gas. They also come from different issuers: ProShares and Precidian. Their fees differ too: 0.58% for OND and 0.19% for BPH.