ONDG vs. USGG

Last updated Jun 24, 2026

ONDG (Leverage Shares 2X Long ONDS Daily ETF) and USGG (Leverage Shares 2X Long USAR Daily ETF) are both Leveraged Equities funds from Leverage Shares - ONDG tracks the Ondas Holdings Inc. (ONDS) while USGG tracks the USA Rare Earth, Inc. (USAR). Both are passively managed. A 0.55 correlation means they provide meaningful diversification when combined. Both charge a 0.75% expense ratio.

Performance

ONDG vs. USGG - 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 USAR Daily ETF (USGG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ONDG

• 1D: -7.89%
• 1M: -22.81%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USGG

• 1D: -10.14%
• 1M: -27.15%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ONDG vs. USGG - Yearly Performance Comparison

	2026 (YTD)
ONDG Leverage Shares 2X Long ONDS Daily ETF	-76.88%
USGG Leverage Shares 2X Long USAR Daily ETF	-5.41%

Correlation

The correlation between ONDG and USGG is 0.55, 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 Jan 13, 2026	0.55

Return for Risk

ONDG vs. USGG - 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 USAR Daily ETF (USGG). 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.

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

Drawdowns

ONDG vs. USGG - Drawdown Comparison

The maximum ONDG drawdown since its inception was -78.13%, roughly equal to the maximum USGG drawdown of -77.74%. Use the drawdown chart below to compare losses from any high point for ONDG and USGG.

Drawdown Indicators

	ONDG	USGG	Difference
Max Drawdown Largest peak-to-trough decline	-78.13%	-77.74%	-0.39%
Current Drawdown Current decline from peak	-78.13%	-58.39%	-19.74%
Average Drawdown Average peak-to-trough decline	-56.22%	-47.00%	-9.22%

Volatility

Volatility by Period

	ONDG	USGG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	208.74%	224.62%	-15.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	208.74%	224.62%	-15.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	208.74%	224.62%	-15.88%

ONDG vs. USGG - Expense Ratio Comparison

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

Dividends

ONDG vs. USGG - Dividend Comparison

Neither ONDG nor USGG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ONDG and USGG in my portfolio?

ONDG and USGG have a correlation of 0.55, 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 USGG?

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 USGG?

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

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

ONDG and USGG have nearly identical dividend yields, around 0.00%.

What is the main difference between ONDG and USGG?

ONDG tracks Ondas Holdings Inc. (ONDS), while USGG tracks USA Rare Earth, Inc. (USAR).