ONDL vs. AIPO

Last updated Aug 4, 2026

ONDL (Defiance Daily Target 2X Long ONDS ETF) and AIPO (Defiance AI & Power Infrastructure ETF) are both exchange-traded funds - ONDL is a Leveraged Equities fund tracking the Ondas Holdings Inc. (ONDS), while AIPO is a Artificial Intelligence fund tracking the MarketVector™ US Listed AI and Power Infrastructure Index. Both are passively managed. Their 0.50 correlation means their historical movements had little consistent relationship. ONDL charges 1.31%/yr vs 0.69%/yr for AIPO.

Performance

ONDL vs. AIPO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long ONDS ETF (ONDL) and Defiance AI & Power Infrastructure ETF (AIPO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ONDL achieves a -70.27% return, which is significantly lower than AIPO's 33.86% return.

ONDL

• 1D: 23.89%
• 1M: 11.86%
• 6M: -71.29%
• YTD: -70.27%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

AIPO

• 1D: 3.42%
• 1M: -4.58%
• 6M: 20.17%
• YTD: 33.86%
• 1Y: 46.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 45.22%

*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)
AIPO Defiance AI & Power Infrastructure ETF	$42.27M	$38.04M	$47.00M
ONDL Defiance Daily Target 2X Long ONDS ETF	$13.49M	$10.59M	$22.91M

ONDL vs. AIPO - Yearly Performance Comparison

	2026 (YTD)	2025
ONDL Defiance Daily Target 2X Long ONDS ETF	-70.27%	30.85%
AIPO Defiance AI & Power Infrastructure ETF	33.86%	-1.50%

Correlation

The correlation between ONDL and AIPO is 0.50, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 30, 2025	0.50

Return for Risk

ONDL vs. AIPO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ONDL

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

AIPO

AIPO Risk / Return Rank: 50
AIPO Sharpe Ratio Rank: 50
AIPO Sortino Ratio Rank: 47
AIPO Omega Ratio Rank: 47
AIPO Calmar Ratio Rank: 53
AIPO Martin Ratio Rank: 54

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.

ONDL vs. AIPO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long ONDS ETF (ONDL) and Defiance AI & Power Infrastructure ETF (AIPO). 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.

	ONDL	AIPO	Difference
Sharpe ratio: Return per unit of total volatility	—	1.26	—
Sortino ratio: Return per unit of downside risk	—	1.74	—
Omega ratio: Gain probability vs. loss probability	—	1.22	—
Calmar ratio: Return relative to maximum drawdown	—	1.93	—
Martin ratio: Return relative to average drawdown	—	6.41	—

Drawdowns

ONDL vs. AIPO - Drawdown Comparison

The maximum ONDL drawdown since its inception was -89.86%, which is greater than AIPO's maximum drawdown of -24.36%. Use the drawdown chart below to compare losses from any high point for ONDL and AIPO.

Drawdown Indicators

	ONDL	AIPO	Difference
Max Drawdown Largest peak-to-trough decline	-89.86%	-24.36%	-65.50%
Max Drawdown (1Y) Largest decline over 1 year	—	-24.36%	—
Current Drawdown Current decline from peak	-84.65%	-14.84%	-69.81%
Average Drawdown Average peak-to-trough decline	-60.92%	-5.31%	-55.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.33%	—

Volatility

Volatility by Period

	ONDL	AIPO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	14.74%	—
Volatility (6M) Calculated over the trailing 6-month period	—	29.87%	—
Volatility (1Y) Calculated over the trailing 1-year period	209.72%	37.61%	+172.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	209.72%	37.27%	+172.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	209.72%	37.27%	+172.45%

ONDL vs. AIPO - Expense Ratio Comparison

ONDL has a 1.31% expense ratio, which is higher than AIPO's 0.69% expense ratio.

Dividends

ONDL vs. AIPO - Dividend Comparison

ONDL has not paid dividends to shareholders, while AIPO's dividend yield for the trailing twelve months is around 0.01%.

Position	TTM	2025
AIPO Defiance AI & Power Infrastructure ETF	0.01%	0.01%
ONDL Defiance Daily Target 2X Long ONDS ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both ONDL and AIPO in my portfolio?

ONDL and AIPO have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ONDL or AIPO?

On fees, AIPO is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ONDL or AIPO?

AIPO is cheaper with a 0.69% expense ratio, compared with 1.31% for ONDL.

Which ETF pays a higher dividend yield, ONDL or AIPO?

AIPO has the higher dividend yield at 0.01%, compared with 0.00% for ONDL.

What is the main difference between ONDL and AIPO?

ONDL is categorized as Leveraged Equities, while AIPO is Artificial Intelligence. ONDL tracks Ondas Holdings Inc. (ONDS), while AIPO tracks MarketVector™ US Listed AI and Power Infrastructure Index. Their fees differ too: 1.31% for ONDL and 0.69% for AIPO.