ONDG vs. LABU

Last updated Aug 1, 2026

ONDG (Leverage Shares 2X Long ONDS Daily ETF) and LABU (Direxion Daily S&P Biotech Bull 3x Shares) are both Leveraged Equities funds - ONDG tracks the Ondas Holdings Inc. (ONDS) while LABU tracks the S&P Biotechnology Select Industry Index (300%). Both are passively managed. Their 0.34 correlation means their historical movements had little consistent relationship. ONDG charges 0.75%/yr vs 0.96%/yr for LABU.

Performance

ONDG vs. LABU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long ONDS Daily ETF (ONDG) and Direxion Daily S&P Biotech Bull 3x Shares (LABU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ONDG

• 1D: -2.99%
• 1M: -7.08%
• 6M: -71.57%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

LABU

• 1D: -8.60%
• 1M: -25.06%
• 6M: 37.10%
• YTD: 42.67%
• 1Y: 272.05%
• 3Y*: 25.64%
• 5Y*: -26.71%
• 10Y*: -12.33%
• ALL TIME*: -20.62%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
LABU Direxion Daily S&P Biotech Bull 3x Shares	$76.19M	$116.75M	$118.31M
ONDG Leverage Shares 2X Long ONDS Daily ETF	$9.09M	$6.83M	$8.54M

ONDG vs. LABU - Yearly Performance Comparison

	2026 (YTD)
ONDG Leverage Shares 2X Long ONDS Daily ETF	-84.22%
LABU Direxion Daily S&P Biotech Bull 3x Shares	37.56%

Correlation

The correlation between ONDG and LABU is 0.34, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 13, 2026	0.34

Return for Risk

ONDG vs. LABU — Risk / Return Rank

Compare historical risk-adjusted metric ranks 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.

LABU

LABU Risk / Return Rank: 94
LABU Sharpe Ratio Rank: 97
LABU Sortino Ratio Rank: 92
LABU Omega Ratio Rank: 88
LABU Calmar Ratio Rank: 98
LABU Martin Ratio Rank: 96

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ONDG vs. LABU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long ONDS Daily ETF (ONDG) and Direxion Daily S&P Biotech Bull 3x Shares (LABU). 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	LABU	Difference
Sharpe ratio: Return per unit of total volatility	—	3.45	—
Sortino ratio: Return per unit of downside risk	—	3.30	—
Omega ratio: Gain probability vs. loss probability	—	1.39	—
Calmar ratio: Return relative to maximum drawdown	—	9.00	—
Martin ratio: Return relative to average drawdown	—	23.05	—

Drawdowns

ONDG vs. LABU - Drawdown Comparison

The maximum ONDG drawdown since its inception was -87.92%, smaller than the maximum LABU drawdown of -99.18%. Use the drawdown chart below to compare losses from any high point for ONDG and LABU.

Drawdown Indicators

	ONDG	LABU	Difference
Max Drawdown Largest peak-to-trough decline	-87.92%	-99.18%	+11.26%
Max Drawdown (1Y) Largest decline over 1 year	—	-30.70%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-78.30%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-97.36%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-98.96%	—
Current Drawdown Current decline from peak	-85.07%	-94.97%	+9.90%
Average Drawdown Average peak-to-trough decline	-61.62%	-81.83%	+20.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.97%	—

Volatility

Volatility by Period

	ONDG	LABU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	24.69%	—
Volatility (6M) Calculated over the trailing 6-month period	—	63.73%	—
Volatility (1Y) Calculated over the trailing 1-year period	203.85%	80.28%	+123.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	203.85%	96.01%	+107.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	203.85%	95.22%	+108.63%

ONDG vs. LABU - Expense Ratio Comparison

ONDG has a 0.75% expense ratio, which is lower than LABU's 0.96% expense ratio.

Dividends

ONDG vs. LABU - Dividend Comparison

ONDG has not paid dividends to shareholders, while LABU's dividend yield for the trailing twelve months is around 0.45%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
LABU Direxion Daily S&P Biotech Bull 3x Shares	0.45%	0.84%	0.35%	0.35%	0.00%	0.00%	0.00%	0.28%	0.64%	0.17%
ONDG Leverage Shares 2X Long ONDS Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ONDG and LABU in my portfolio?

ONDG and LABU have a correlation of 0.34, 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 LABU?

On fees, ONDG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ONDG or LABU?

ONDG is cheaper with a 0.75% expense ratio, compared with 0.96% for LABU.

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

LABU has the higher dividend yield at 0.45%, compared with 0.00% for ONDG.

What is the main difference between ONDG and LABU?

ONDG tracks Ondas Holdings Inc. (ONDS), while LABU tracks S&P Biotechnology Select Industry Index (300%). They also come from different issuers: Leverage Shares and Direxion. Their fees differ too: 0.75% for ONDG and 0.96% for LABU.