OND vs. GXPC

Last updated Jun 4, 2026

OND (ProShares On-Demand ETF) and GXPC (Global X PureCap MSCI Communication Services ETF) are both Communications Equities funds - OND tracks the FactSet On-Demand Index while GXPC tracks the MSCI USA Communication Services PureCap Index. Both are passively managed. A 0.51 correlation means they provide meaningful diversification when combined. OND charges 0.58%/yr vs 0.15%/yr for GXPC.

Performance

OND vs. GXPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares On-Demand ETF (OND) and Global X PureCap MSCI Communication Services ETF (GXPC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OND achieves a -14.28% return, which is significantly lower than GXPC's 3.83% return.

OND

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

GXPC

• 1D: -0.34%
• 1M: -4.59%
• YTD: 3.83%
• 6M: 3.68%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OND vs. GXPC - Yearly Performance Comparison

	2026 (YTD)	2025
OND ProShares On-Demand ETF	-14.28%	-6.86%
GXPC Global X PureCap MSCI Communication Services ETF	3.83%	19.31%

Correlation

The correlation between OND and GXPC is 0.51, 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 Jul 24, 2025	0.51

Return for Risk

OND vs. GXPC — 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. GXPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares On-Demand ETF (OND) and Global X PureCap MSCI Communication Services ETF (GXPC). 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	GXPC	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	GXPC	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	1.43	-1.51

Drawdowns

OND vs. GXPC - Drawdown Comparison

The maximum OND drawdown since its inception was -59.02%, which is greater than GXPC's maximum drawdown of -16.59%. Use the drawdown chart below to compare losses from any high point for OND and GXPC.

Drawdown Indicators

	OND	GXPC	Difference
Max Drawdown Largest peak-to-trough decline	-59.02%	-16.59%	-42.43%
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%	-7.11%	-20.65%
Average Drawdown Average peak-to-trough decline	-30.32%	-3.05%	-27.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.81%	—	—

Volatility

Volatility by Period

	OND	GXPC	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%	19.79%	+0.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.15%	19.79%	+7.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.15%	19.79%	+7.36%

OND vs. GXPC - Expense Ratio Comparison

OND has a 0.58% expense ratio, which is higher than GXPC's 0.15% expense ratio.

Dividends

OND vs. GXPC - Dividend Comparison

OND has not paid dividends to shareholders, while GXPC's dividend yield for the trailing twelve months is around 0.12%.

Position	TTM	2025	2024	2023	2022	2021
GXPC Global X PureCap MSCI Communication Services ETF	0.12%	0.12%	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 GXPC in my portfolio?

OND and GXPC have a correlation of 0.51, 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 GXPC?

On fees, GXPC is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, OND or GXPC?

GXPC is cheaper with a 0.15% expense ratio, compared with 0.58% for OND.

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

GXPC has the higher dividend yield at 0.12%, compared with 0.00% for OND.

What is the main difference between OND and GXPC?

OND tracks FactSet On-Demand Index, while GXPC tracks MSCI USA Communication Services PureCap Index. They also come from different issuers: ProShares and Global X. Their fees differ too: 0.58% for OND and 0.15% for GXPC.