ONDL vs. SBU

Last updated Jun 4, 2026

ONDL (Defiance Daily Target 2X Long ONDS ETF) and SBU (Leverage Shares 2X Long SBUX Daily ETF) are both Leveraged Equities funds. ONDL is passively managed, while SBU is actively managed. At a 0.12 correlation, their price movements are largely independent. ONDL charges 1.31%/yr vs 0.75%/yr for SBU.

Performance

ONDL vs. SBU - 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 SBUX Daily ETF (SBU). 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 SBU's 21.72% return.

ONDL

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

SBU

• 1D: 0.85%
• 1M: -16.51%
• YTD: 21.72%
• 6M: 11.90%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ONDL vs. SBU - Yearly Performance Comparison

	2026 (YTD)	2025
ONDL Defiance Daily Target 2X Long ONDS ETF	-27.60%	17.43%
SBU Leverage Shares 2X Long SBUX Daily ETF	21.72%	-2.54%

Correlation

The correlation between ONDL and SBU is 0.12, 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	0.12

Return for Risk

ONDL vs. SBU - 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 SBUX Daily ETF (SBU). 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	SBU	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.15	0.71	-0.85

Drawdowns

ONDL vs. SBU - Drawdown Comparison

The maximum ONDL drawdown since its inception was -75.71%, which is greater than SBU's maximum drawdown of -28.10%. Use the drawdown chart below to compare losses from any high point for ONDL and SBU.

Drawdown Indicators

	ONDL	SBU	Difference
Max Drawdown Largest peak-to-trough decline	-75.71%	-28.10%	-47.61%
Current Drawdown Current decline from peak	-62.62%	-20.00%	-42.62%
Average Drawdown Average peak-to-trough decline	-53.08%	-6.56%	-46.52%

Volatility

Volatility by Period

	ONDL	SBU	Difference
Volatility (1Y) Calculated over the trailing 1-year period	219.48%	59.78%	+159.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	219.48%	59.78%	+159.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	219.48%	59.78%	+159.70%

ONDL vs. SBU - Expense Ratio Comparison

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

Dividends

ONDL vs. SBU - Dividend Comparison

Neither ONDL nor SBU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ONDL and SBU in my portfolio?

ONDL and SBU have a correlation of 0.12, 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 SBU?

On fees, SBU 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 SBU?

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

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

ONDL and SBU have nearly identical dividend yields, around 0.00%.

What is the main difference between ONDL and SBU?

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