ONDL vs. PLTG

Last updated Jun 24, 2026

ONDL (Defiance Daily Target 2X Long ONDS ETF) and PLTG (Leverage Shares 2X Long PLTR Daily ETF) are both Leveraged Equities funds. ONDL is passively managed, while PLTG is actively managed. At a 0.46 correlation, their price movements are largely independent. ONDL charges 1.31%/yr vs 0.75%/yr for PLTG.

Performance

ONDL vs. PLTG - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with ONDL having a -63.29% return and PLTG slightly lower at -65.23%.

ONDL

• 1D: -7.90%
• 1M: -24.39%
• YTD: -63.29%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PLTG

• 1D: -4.81%
• 1M: -30.69%
• YTD: -65.23%
• 6M: -71.20%
• 1Y: -54.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ONDL vs. PLTG - Yearly Performance Comparison

	2026 (YTD)	2025
ONDL Defiance Daily Target 2X Long ONDS ETF	-63.29%	30.85%
PLTG Leverage Shares 2X Long PLTR Daily ETF	-65.23%	-7.80%

Correlation

The correlation between ONDL and PLTG is 0.46, 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 30, 2025	0.46

Return for Risk

ONDL vs. PLTG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments 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.

PLTG

PLTG Risk / Return Rank: 4
PLTG Sharpe Ratio Rank: 5
PLTG Sortino Ratio Rank: 6
PLTG Omega Ratio Rank: 6
PLTG Calmar Ratio Rank: 3
PLTG Martin Ratio Rank: 3

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.

ONDL vs. PLTG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long ONDS ETF (ONDL) and Leverage Shares 2X Long PLTR Daily ETF (PLTG). 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	PLTG	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.53	—
Sortino ratio: Return per unit of downside risk	—	-0.32	—
Omega ratio: Gain probability vs. loss probability	—	0.96	—
Calmar ratio: Return relative to maximum drawdown	—	-0.71	—
Martin ratio: Return relative to average drawdown	—	-1.26	—

Drawdowns

ONDL vs. PLTG - Drawdown Comparison

The maximum ONDL drawdown since its inception was -81.04%, which is greater than PLTG's maximum drawdown of -76.37%. Use the drawdown chart below to compare losses from any high point for ONDL and PLTG.

Drawdown Indicators

	ONDL	PLTG	Difference
Max Drawdown Largest peak-to-trough decline	-81.04%	-76.37%	-4.67%
Max Drawdown (1Y) Largest decline over 1 year	—	-76.37%	—
Current Drawdown Current decline from peak	-81.04%	-76.37%	-4.67%
Average Drawdown Average peak-to-trough decline	-55.02%	-32.02%	-23.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	43.16%	—

Volatility

Volatility by Period

	ONDL	PLTG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	38.03%	—
Volatility (6M) Calculated over the trailing 6-month period	—	78.49%	—
Volatility (1Y) Calculated over the trailing 1-year period	213.88%	102.77%	+111.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	213.88%	105.82%	+108.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	213.88%	105.82%	+108.06%

ONDL vs. PLTG - Expense Ratio Comparison

ONDL has a 1.31% expense ratio, which is higher than PLTG's 0.75% expense ratio.

Dividends

ONDL vs. PLTG - Dividend Comparison

ONDL has not paid dividends to shareholders, while PLTG's dividend yield for the trailing twelve months is around 52.16%.

Position	TTM	2025
ONDL Defiance Daily Target 2X Long ONDS ETF	0.00%	0.00%
PLTG Leverage Shares 2X Long PLTR Daily ETF	52.16%	18.14%

Frequently Asked Questions

Can I hold both ONDL and PLTG in my portfolio?

ONDL and PLTG have a correlation of 0.46, 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 PLTG?

On fees, PLTG 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, ONDL or PLTG?

PLTG is cheaper with a 0.75% expense ratio, compared with 1.31% for ONDL.

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

PLTG has the higher dividend yield at 52.16%, compared with 0.00% for ONDL.

What is the main difference between ONDL and PLTG?

They also come from different issuers: Defiance and Leverage Shares. Their fees differ too: 1.31% for ONDL and 0.75% for PLTG.