ONDL vs. QQQY

Last updated Jun 4, 2026

ONDL (Defiance Daily Target 2X Long ONDS ETF) and QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) are both exchange-traded funds - ONDL is a Leveraged Equities fund tracking the Ondas Holdings Inc. (ONDS), while QQQY is a Nasdaq-100 fund actively managed by Defiance. ONDL is passively managed, while QQQY is actively managed. At a 0.37 correlation, their price movements are largely independent. ONDL charges 1.31%/yr vs 0.99%/yr for QQQY.

Performance

ONDL vs. QQQY - 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 Nasdaq 100 Enhanced Options Income ETF (QQQY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ONDL achieves a -27.60% return, which is significantly lower than QQQY's 19.07% return.

ONDL

• 1D: -29.16%
• 1M: 17.93%
• YTD: -27.60%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQY

• 1D: -0.36%
• 1M: 9.64%
• YTD: 19.07%
• 6M: 19.11%
• 1Y: 36.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ONDL vs. QQQY - Yearly Performance Comparison

	2026 (YTD)	2025
ONDL Defiance Daily Target 2X Long ONDS ETF	-27.60%	17.43%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	19.07%	-0.85%

Correlation

The correlation between ONDL and QQQY is 0.37, 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	0.37

Return for Risk

ONDL vs. QQQY — Risk / Return Rank

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

QQQY

QQQY Risk / Return Rank: 74
QQQY Sharpe Ratio Rank: 81
QQQY Sortino Ratio Rank: 73
QQQY Omega Ratio Rank: 80
QQQY Calmar Ratio Rank: 65
QQQY Martin Ratio Rank: 73

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. QQQY - 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 Nasdaq 100 Enhanced Options Income ETF (QQQY). 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	QQQY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.15	1.25	-1.40

Drawdowns

ONDL vs. QQQY - Drawdown Comparison

The maximum ONDL drawdown since its inception was -75.71%, which is greater than QQQY's maximum drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for ONDL and QQQY.

Drawdown Indicators

	ONDL	QQQY	Difference
Max Drawdown Largest peak-to-trough decline	-75.71%	-19.05%	-56.66%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.14%	—
Current Drawdown Current decline from peak	-62.62%	-0.36%	-62.26%
Average Drawdown Average peak-to-trough decline	-53.08%	-2.91%	-50.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.61%	—

Volatility

Volatility by Period

	ONDL	QQQY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.21%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.30%	—
Volatility (1Y) Calculated over the trailing 1-year period	219.48%	13.67%	+205.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	219.48%	14.75%	+204.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	219.48%	14.75%	+204.73%

ONDL vs. QQQY - Expense Ratio Comparison

ONDL has a 1.31% expense ratio, which is higher than QQQY's 0.99% expense ratio.

Dividends

ONDL vs. QQQY - Dividend Comparison

ONDL has not paid dividends to shareholders, while QQQY's dividend yield for the trailing twelve months is around 34.34%.

Position	TTM	2025	2024	2023
ONDL Defiance Daily Target 2X Long ONDS ETF	0.00%	0.00%	0.00%	0.00%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	34.34%	45.34%	83.34%	20.64%

Frequently Asked Questions

Can I hold both ONDL and QQQY in my portfolio?

ONDL and QQQY have a correlation of 0.37, 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 QQQY?

On fees, QQQY is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ONDL or QQQY?

QQQY is cheaper with a 0.99% expense ratio, compared with 1.31% for ONDL.

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

QQQY has the higher dividend yield at 34.34%, compared with 0.00% for ONDL.

What is the main difference between ONDL and QQQY?

ONDL is categorized as Leveraged Equities, while QQQY is Nasdaq-100. Their fees differ too: 1.31% for ONDL and 0.99% for QQQY.