ONDG vs. XTAP

Last updated Jun 4, 2026

ONDG (Leverage Shares 2X Long ONDS Daily ETF) and XTAP (Innovator U.S. Equity Accelerated Plus ETF) are both Leveraged Equities funds. ONDG is passively managed, while XTAP is actively managed. At a 0.29 correlation, their price movements are largely independent. ONDG charges 0.75%/yr vs 0.79%/yr for XTAP.

Performance

ONDG vs. XTAP - Performance Comparison

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

Returns By Period

ONDG

• 1D: -28.69%
• 1M: 21.10%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XTAP

• 1D: -0.21%
• 1M: 2.32%
• YTD: 10.96%
• 6M: 12.10%
• 1Y: 21.00%
• 3Y*: 17.90%
• 5Y*: 10.99%
• 10Y*: —

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

ONDG vs. XTAP - Yearly Performance Comparison

	2026 (YTD)
ONDG Leverage Shares 2X Long ONDS Daily ETF	-57.35%
XTAP Innovator U.S. Equity Accelerated Plus ETF	10.66%

Correlation

The correlation between ONDG and XTAP is 0.29, 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 14, 2026	0.29

Return for Risk

ONDG vs. XTAP — Risk / Return Rank

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

XTAP

XTAP Risk / Return Rank: 98
XTAP Sharpe Ratio Rank: 97
XTAP Sortino Ratio Rank: 98
XTAP Omega Ratio Rank: 98
XTAP Calmar Ratio Rank: 98
XTAP Martin Ratio Rank: 98

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. XTAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long ONDS Daily ETF (ONDG) and Innovator U.S. Equity Accelerated Plus ETF (XTAP). 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.

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

Sharpe Ratios by Period

	ONDG	XTAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	4.50	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.42	0.80	-1.22

Drawdowns

ONDG vs. XTAP - Drawdown Comparison

The maximum ONDG drawdown since its inception was -73.84%, which is greater than XTAP's maximum drawdown of -22.13%. Use the drawdown chart below to compare losses from any high point for ONDG and XTAP.

Drawdown Indicators

	ONDG	XTAP	Difference
Max Drawdown Largest peak-to-trough decline	-73.84%	-22.13%	-51.71%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.42%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-11.83%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.13%	—
Current Drawdown Current decline from peak	-57.35%	-0.21%	-57.14%
Average Drawdown Average peak-to-trough decline	-54.76%	-3.45%	-51.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.27%	—

Volatility

Volatility by Period

	ONDG	XTAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.10%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.16%	—
Volatility (1Y) Calculated over the trailing 1-year period	215.76%	4.70%	+211.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	215.76%	14.54%	+201.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	215.76%	14.41%	+201.35%

ONDG vs. XTAP - Expense Ratio Comparison

ONDG has a 0.75% expense ratio, which is lower than XTAP's 0.79% expense ratio.

Dividends

ONDG vs. XTAP - Dividend Comparison

Neither ONDG nor XTAP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ONDG and XTAP in my portfolio?

ONDG and XTAP have a correlation of 0.29, 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 XTAP?

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 XTAP?

ONDG is cheaper with a 0.75% expense ratio, compared with 0.79% for XTAP.

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

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

What is the main difference between ONDG and XTAP?

They also come from different issuers: Leverage Shares and Innovator. Their fees differ too: 0.75% for ONDG and 0.79% for XTAP.