OND vs. EINC

Last updated Jun 23, 2026

OND (ProShares On-Demand ETF) and EINC (VanEck Energy Income ETF) are both exchange-traded funds - OND is a Communications Equities fund tracking the FactSet On-Demand Index, while EINC is a Energy Equities fund tracking the MVIS North America Energy Infrastructure Index. Both are passively managed. Over the past 3 years, OND returned 14.80%/yr vs 30.36%/yr for EINC. At a 0.27 correlation, their price movements are largely independent. OND charges 0.58%/yr vs 0.45%/yr for EINC.

Performance

OND vs. EINC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares On-Demand ETF (OND) and VanEck Energy Income ETF (EINC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OND achieves a -17.08% return, which is significantly lower than EINC's 25.97% return.

OND

• 1D: -1.46%
• 1M: -3.14%
• YTD: -17.08%
• 6M: -17.59%
• 1Y: -14.33%
• 3Y*: 14.80%
• 5Y*: —
• 10Y*: —

EINC

• 1D: 1.37%
• 1M: -4.50%
• YTD: 25.97%
• 6M: 25.98%
• 1Y: 29.82%
• 3Y*: 30.36%
• 5Y*: 21.18%
• 10Y*: 12.03%

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

OND vs. EINC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
OND ProShares On-Demand ETF	-17.08%	26.72%	32.00%	27.03%	-41.93%	-15.04%
EINC VanEck Energy Income ETF	25.97%	7.11%	42.79%	15.55%	19.18%	-7.95%

Correlation

The correlation between OND and EINC is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (All Time) Calculated using the full available price history since Oct 27, 2021	0.27

The correlation between OND and EINC shifts across timeframes, from -0.10 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.

OND vs. EINC - Sectors Allocation Comparison

Sectors	OND	EINC
Technology	25.9%	-
Communication Services	23.8%	-
Industrials	3.6%	2.5%
Real Estate	3.1%	-
Consumer Cyclical	1.8%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	99.4%
Financial Services	-	-
Healthcare	-	-
Utilities	-	0.6%

Return for Risk

OND vs. EINC — Risk / Return Rank

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

OND

OND Risk / Return Rank: 4
OND Sharpe Ratio Rank: 3
OND Sortino Ratio Rank: 4
OND Omega Ratio Rank: 4
OND Calmar Ratio Rank: 5
OND Martin Ratio Rank: 5

EINC

EINC Risk / Return Rank: 64
EINC Sharpe Ratio Rank: 63
EINC Sortino Ratio Rank: 60
EINC Omega Ratio Rank: 60
EINC Calmar Ratio Rank: 77
EINC Martin Ratio Rank: 57

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. EINC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares On-Demand ETF (OND) and VanEck Energy Income ETF (EINC). 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.

	OND	EINC	Difference
Sharpe ratio: Return per unit of total volatility	-0.69	1.99	-2.68
Sortino ratio: Return per unit of downside risk	-0.87	2.67	-3.54
Omega ratio: Gain probability vs. loss probability	0.90	1.35	-0.45
Calmar ratio: Return relative to maximum drawdown	-0.43	3.80	-4.22
Martin ratio: Return relative to average drawdown	-0.76	9.63	-10.38

OND vs. EINC - Sharpe Ratio Comparison

The current OND Sharpe Ratio is -0.69, which is lower than the EINC Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of OND and EINC, 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

OND vs. EINC - Drawdown Comparison

The maximum OND drawdown since its inception was -59.02%, smaller than the maximum EINC drawdown of -87.55%. Use the drawdown chart below to compare losses from any high point for OND and EINC.

Drawdown Indicators

	OND	EINC	Difference
Max Drawdown Largest peak-to-trough decline	-59.02%	-87.55%	+28.53%
Max Drawdown (1Y) Largest decline over 1 year	-33.80%	-7.89%	-25.91%
Max Drawdown (3Y) Largest decline over 3 years	-33.80%	-16.01%	-17.79%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.87%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-68.85%	—
Current Drawdown Current decline from peak	-30.12%	-4.50%	-25.62%
Average Drawdown Average peak-to-trough decline	-30.28%	-44.15%	+13.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.95%	3.10%	+15.85%

Volatility

OND vs. EINC - Volatility Comparison

ProShares On-Demand ETF (OND) and VanEck Energy Income ETF (EINC) have volatilities of 6.20% and 6.51%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OND	EINC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.20%	6.51%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	15.79%	11.88%	+3.91%
Volatility (1Y) Calculated over the trailing 1-year period	20.85%	15.10%	+5.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.09%	19.54%	+7.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.09%	25.43%	+1.66%

OND vs. EINC - Expense Ratio Comparison

OND has a 0.58% expense ratio, which is higher than EINC's 0.45% expense ratio.

Dividends

OND vs. EINC - Dividend Comparison

OND has not paid dividends to shareholders, while EINC's dividend yield for the trailing twelve months is around 3.51%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EINC VanEck Energy Income ETF	3.51%	4.51%	3.33%	3.77%	2.89%	6.03%	6.69%	9.66%	11.31%	8.53%	9.71%	28.53%
OND ProShares On-Demand ETF	0.00%	0.00%	0.00%	0.78%	0.00%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OND and EINC in my portfolio?

OND and EINC have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OND or EINC?

EINC has higher volatility (6.51%) compared to OND (6.20%). In terms of maximum drawdown, OND dropped -59.02% vs EINC's -87.55%.

Which ETF is better, OND or EINC?

On 3-year performance, EINC leads with 30.36% vs 14.80% for OND. On fees, EINC is cheaper at 0.45% per year. On volatility, OND has been the lower-risk option at 6.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OND or EINC?

Over the 3-year period, EINC has performed better with a 30.36% return vs 14.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OND or EINC?

EINC is cheaper with a 0.45% expense ratio, compared with 0.58% for OND.

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

EINC has the higher dividend yield at 3.51%, compared with 0.00% for OND.

What is the main difference between OND and EINC?

OND is categorized as Communications Equities, while EINC is Energy Equities. OND tracks FactSet On-Demand Index, while EINC tracks MVIS North America Energy Infrastructure Index. They also come from different issuers: ProShares and VanEck. Their fees differ too: 0.58% for OND and 0.45% for EINC.

Which has better risk-adjusted returns?

EINC currently has the higher Sharpe Ratio (1.99 vs -0.69), 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.