ONDL vs. AIPO

Last updated Jun 5, 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 Technology Equities fund tracking the MarketVector™ US Listed AI and Power Infrastructure Index. Both are passively managed. At a 0.41 correlation, their price movements are largely independent. 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 -23.23% return, which is significantly lower than AIPO's 50.90% return.

ONDL

• 1D: 6.03%
• 1M: 36.99%
• YTD: -23.23%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AIPO

• 1D: -0.74%
• 1M: 3.63%
• YTD: 50.90%
• 6M: 40.68%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ONDL vs. AIPO - Yearly Performance Comparison

	2026 (YTD)	2025
ONDL Defiance Daily Target 2X Long ONDS ETF	-23.23%	17.43%
AIPO Defiance AI & Power Infrastructure ETF	50.90%	-0.90%

Correlation

The correlation between ONDL and AIPO is 0.41, 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 Dec 31, 2025	0.41

Return for Risk

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.

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

Sharpe Ratios by Period

	ONDL	AIPO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.10	2.30	-2.40

Drawdowns

ONDL vs. AIPO - Drawdown Comparison

The maximum ONDL drawdown since its inception was -75.71%, which is greater than AIPO's maximum drawdown of -17.31%. 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	-75.71%	-17.31%	-58.40%
Current Drawdown Current decline from peak	-60.36%	-1.85%	-58.51%
Average Drawdown Average peak-to-trough decline	-53.15%	-4.37%	-48.78%

Volatility

Volatility by Period

	ONDL	AIPO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	218.60%	34.02%	+184.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	218.60%	34.02%	+184.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	218.60%	34.02%	+184.58%

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 0.41, 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 Technology Equities. 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.