OND vs. PRGTX

Last updated Jun 24, 2026

OND (ProShares On-Demand ETF) and PRGTX (T. Rowe Price Global Technology Fund) are both funds - OND is a Communications Equities fund tracking the FactSet On-Demand Index, while PRGTX is a Technology Equities fund managed by T. Rowe Price. Over the past 3 years, OND returned 13.96%/yr vs 39.48%/yr for PRGTX. A 0.78 correlation means they provide meaningful diversification when combined. OND charges 0.58%/yr vs 0.95%/yr for PRGTX.

Performance

OND vs. PRGTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares On-Demand ETF (OND) and T. Rowe Price Global Technology Fund (PRGTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OND achieves a -18.87% return, which is significantly lower than PRGTX's 42.49% return.

OND

• 1D: -2.16%
• 1M: -5.24%
• YTD: -18.87%
• 6M: -19.28%
• 1Y: -17.46%
• 3Y*: 13.96%
• 5Y*: —
• 10Y*: —

PRGTX

• 1D: 0.45%
• 1M: 7.41%
• YTD: 42.49%
• 6M: 42.54%
• 1Y: 73.93%
• 3Y*: 39.48%
• 5Y*: 9.67%
• 10Y*: 20.21%

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

OND vs. PRGTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
OND ProShares On-Demand ETF	-18.87%	26.72%	32.00%	27.03%	-41.93%	-15.04%
PRGTX T. Rowe Price Global Technology Fund	42.49%	27.28%	33.12%	55.92%	-55.53%	-12.25%

Correlation

The correlation between OND and PRGTX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (All Time) Calculated using the full available price history since Oct 27, 2021	0.78

The correlation between OND and PRGTX shifts across timeframes, from 0.68 (1 year) to 0.78 (all time), reflecting how their relationship changes across market environments.

Return for Risk

OND vs. PRGTX — Risk / Return Rank

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

OND

OND Risk / Return Rank: 3
OND Sharpe Ratio Rank: 2
OND Sortino Ratio Rank: 3
OND Omega Ratio Rank: 3
OND Calmar Ratio Rank: 5
OND Martin Ratio Rank: 5

PRGTX

PRGTX Risk / Return Rank: 88
PRGTX Sharpe Ratio Rank: 93
PRGTX Sortino Ratio Rank: 79
PRGTX Omega Ratio Rank: 81
PRGTX Calmar Ratio Rank: 96
PRGTX Martin Ratio Rank: 92

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. PRGTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares On-Demand ETF (OND) and T. Rowe Price Global Technology Fund (PRGTX). 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	PRGTX	Difference
Sharpe ratio: Return per unit of total volatility	-0.84	2.92	-3.76
Sortino ratio: Return per unit of downside risk	-1.10	3.42	-4.51
Omega ratio: Gain probability vs. loss probability	0.87	1.49	-0.62
Calmar ratio: Return relative to maximum drawdown	-0.52	5.81	-6.33
Martin ratio: Return relative to average drawdown	-0.92	17.27	-18.18

OND vs. PRGTX - Sharpe Ratio Comparison

The current OND Sharpe Ratio is -0.84, which is lower than the PRGTX Sharpe Ratio of 2.92. The chart below compares the historical Sharpe Ratios of OND and PRGTX, 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. PRGTX - Drawdown Comparison

The maximum OND drawdown since its inception was -59.02%, smaller than the maximum PRGTX drawdown of -71.18%. Use the drawdown chart below to compare losses from any high point for OND and PRGTX.

Drawdown Indicators

	OND	PRGTX	Difference
Max Drawdown Largest peak-to-trough decline	-59.02%	-71.18%	+12.16%
Max Drawdown (1Y) Largest decline over 1 year	-33.80%	-13.06%	-20.74%
Max Drawdown (3Y) Largest decline over 3 years	-33.80%	-26.67%	-7.13%
Max Drawdown (5Y) Largest decline over 5 years	—	-65.29%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-65.29%	—
Current Drawdown Current decline from peak	-31.63%	-1.18%	-30.45%
Average Drawdown Average peak-to-trough decline	-30.29%	-21.50%	-8.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.06%	4.38%	+14.68%

Volatility

OND vs. PRGTX - Volatility Comparison

The current volatility for ProShares On-Demand ETF (OND) is 6.52%, while T. Rowe Price Global Technology Fund (PRGTX) has a volatility of 13.28%. This indicates that OND experiences smaller price fluctuations and is considered to be less risky than PRGTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OND	PRGTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.52%	13.28%	-6.76%
Volatility (6M) Calculated over the trailing 6-month period	15.83%	21.87%	-6.04%
Volatility (1Y) Calculated over the trailing 1-year period	20.91%	25.99%	-5.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.10%	32.18%	-5.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.10%	28.64%	-1.54%

OND vs. PRGTX - Expense Ratio Comparison

OND has a 0.58% expense ratio, which is lower than PRGTX's 0.95% expense ratio.

Dividends

OND vs. PRGTX - Dividend Comparison

Neither OND nor PRGTX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
PRGTX T. Rowe Price Global Technology Fund	0.00%	0.00%	0.00%	0.00%	3.28%	27.71%	5.05%	0.15%	24.67%	15.81%	9.46%	10.03%

Frequently Asked Questions

Can I hold both OND and PRGTX in my portfolio?

OND and PRGTX have a correlation of 0.68, 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 PRGTX?

PRGTX has higher volatility (13.28%) compared to OND (6.52%). In terms of maximum drawdown, OND dropped -59.02% vs PRGTX's -71.18%.

Which has better risk-adjusted returns?

PRGTX currently has the higher Sharpe Ratio (2.92 vs -0.84), 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.