ONDG vs. ARMG

Last updated Jul 11, 2026

ONDG (Leverage Shares 2X Long ONDS Daily ETF) and ARMG (Leverage Shares 2X Long ARM Daily ETF) are both Leveraged Equities funds from Leverage Shares. ONDG is passively managed, while ARMG is actively managed. At a 0.31 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.

Performance

ONDG vs. ARMG - Performance Comparison

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

Returns By Period

ONDG

• 1D: -10.68%
• 1M: -42.82%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ARMG

• 1D: -2.92%
• 1M: -32.77%
• 6M: 439.70%
• YTD: 460.53%
• 1Y: 163.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ONDG vs. ARMG - Yearly Performance Comparison

	2026 (YTD)
ONDG Leverage Shares 2X Long ONDS Daily ETF	-83.97%
ARMG Leverage Shares 2X Long ARM Daily ETF	447.09%

Correlation

The correlation between ONDG and ARMG is 0.31, 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	0.31

Return for Risk

ONDG vs. ARMG — Risk / Return Rank

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

ONDG

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

ARMG

ARMG Risk / Return Rank: 48
ARMG Sharpe Ratio Rank: 37
ARMG Sortino Ratio Rank: 59
ARMG Omega Ratio Rank: 55
ARMG Calmar Ratio Rank: 57
ARMG Martin Ratio Rank: 33

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.

ONDG vs. ARMG - Risk-Adjusted Trends Comparison

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

	ONDG	ARMG	Difference
Sharpe ratio: Return per unit of total volatility	—	1.08	—
Sortino ratio: Return per unit of downside risk	—	2.26	—
Omega ratio: Gain probability vs. loss probability	—	1.28	—
Calmar ratio: Return relative to maximum drawdown	—	2.28	—
Martin ratio: Return relative to average drawdown	—	3.92	—

Drawdowns

ONDG vs. ARMG - Drawdown Comparison

The maximum ONDG drawdown since its inception was -84.84%, which is greater than ARMG's maximum drawdown of -80.28%. Use the drawdown chart below to compare losses from any high point for ONDG and ARMG.

Drawdown Indicators

	ONDG	ARMG	Difference
Max Drawdown Largest peak-to-trough decline	-84.84%	-80.28%	-4.56%
Max Drawdown (1Y) Largest decline over 1 year	—	-68.13%	—
Current Drawdown Current decline from peak	-84.84%	-48.87%	-35.97%
Average Drawdown Average peak-to-trough decline	-58.80%	-51.57%	-7.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	39.64%	—

Volatility

Volatility by Period

	ONDG	ARMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	58.48%	—
Volatility (6M) Calculated over the trailing 6-month period	—	121.60%	—
Volatility (1Y) Calculated over the trailing 1-year period	203.49%	143.75%	+59.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	203.49%	143.96%	+59.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	203.49%	143.96%	+59.53%

ONDG vs. ARMG - Expense Ratio Comparison

Both ONDG and ARMG have an expense ratio of 0.75%.

Dividends

ONDG vs. ARMG - Dividend Comparison

ONDG has not paid dividends to shareholders, while ARMG's dividend yield for the trailing twelve months is around 0.87%.

Position	TTM	2025
ARMG Leverage Shares 2X Long ARM Daily ETF	0.87%	4.86%
ONDG Leverage Shares 2X Long ONDS Daily ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both ONDG and ARMG in my portfolio?

ONDG and ARMG have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ONDG or ARMG?

Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ONDG or ARMG?

ONDG and ARMG have the same expense ratio: 0.75% per year.

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

ARMG has the higher dividend yield at 0.87%, compared with 0.00% for ONDG.