ONDS vs. KTOS

Last updated Jul 14, 2026

ONDS (Ondas Holdings Inc.) and KTOS (Kratos Defense & Security Solutions, Inc.) are both stocks. ONDS operates in Communication Equipment (Technology), while KTOS operates in Aerospace & Defense (Industrials). Over the past 5 years, ONDS returned -2.33%/yr vs 12.07%/yr for KTOS. At a 0.25 correlation, their price movements are largely independent.

Performance

ONDS vs. KTOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ondas Holdings Inc. (ONDS) and Kratos Defense & Security Solutions, Inc. (KTOS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ONDS achieves a -28.69% return, which is significantly higher than KTOS's -38.14% return.

ONDS

• 1D: -4.13%
• 1M: -25.40%
• 6M: -47.23%
• YTD: -28.69%
• 1Y: 228.30%
• 3Y*: 80.68%
• 5Y*: -2.33%
• 10Y*: —

KTOS

• 1D: -2.55%
• 1M: -18.68%
• 6M: -60.16%
• YTD: -38.14%
• 1Y: -9.19%
• 3Y*: 52.73%
• 5Y*: 12.07%
• 10Y*: 26.02%

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

ONDS vs. KTOS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
ONDS Ondas Holdings Inc.	-28.69%	281.25%	67.32%	-3.77%	-76.30%	-28.08%	-48.17%	0.00%	33.33%
KTOS Kratos Defense & Security Solutions, Inc.	-38.14%	187.76%	30.01%	96.61%	-46.80%	-29.27%	52.30%	27.82%	9.99%

Correlation

The correlation between ONDS and KTOS is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (All Time) Calculated using the full available price history since Oct 25, 2018	0.25

Over the past year, ONDS and KTOS have become more correlated (0.53) than their long-term average of 0.25, meaning their price movements have been converging.

Fundamentals

Market Cap ONDS : $3.64B KTOS : $8.81B
EPS ONDS : $1.52 KTOS : $0.17
PE Ratio ONDS : 4.59 KTOS : 279.79
PS Ratio ONDS : 11.57 KTOS : 5.81
Total Revenue (TTM) ONDS : $96.60M KTOS : $1.42B
Gross Profit (TTM) ONDS : $43.33M KTOS : $259.40M
EBITDA (TTM) ONDS : -$75.39M KTOS : $78.30M

Return for Risk

ONDS vs. KTOS — Risk / Return Rank

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

ONDS

ONDS Risk / Return Rank: 89
ONDS Sharpe Ratio Rank: 90
ONDS Sortino Ratio Rank: 89
ONDS Omega Ratio Rank: 84
ONDS Calmar Ratio Rank: 92
ONDS Martin Ratio Rank: 88

KTOS

KTOS Risk / Return Rank: 41
KTOS Sharpe Ratio Rank: 40
KTOS Sortino Ratio Rank: 42
KTOS Omega Ratio Rank: 41
KTOS Calmar Ratio Rank: 41
KTOS Martin Ratio Rank: 41

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.

ONDS vs. KTOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ondas Holdings Inc. (ONDS) and Kratos Defense & Security Solutions, Inc. (KTOS). 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.

	ONDS	KTOS	Difference
Sharpe ratio: Return per unit of total volatility	1.83	-0.13	+1.96
Sortino ratio: Return per unit of downside risk	2.69	0.32	+2.37
Omega ratio: Gain probability vs. loss probability	1.30	1.04	+0.26
Calmar ratio: Return relative to maximum drawdown	4.31	-0.14	+4.45
Martin ratio: Return relative to average drawdown	8.63	-0.27	+8.90

ONDS vs. KTOS - Sharpe Ratio Comparison

The current ONDS Sharpe Ratio is 1.83, which is higher than the KTOS Sharpe Ratio of -0.13. The chart below compares the historical Sharpe Ratios of ONDS and KTOS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ONDS vs. KTOS - Drawdown Comparison

The maximum ONDS drawdown since its inception was -98.28%, roughly equal to the maximum KTOS drawdown of -99.81%. Use the drawdown chart below to compare losses from any high point for ONDS and KTOS.

Drawdown Indicators

	ONDS	KTOS	Difference
Max Drawdown Largest peak-to-trough decline	-98.28%	-99.81%	+1.53%
Max Drawdown (1Y) Largest decline over 1 year	-53.37%	-64.57%	+11.20%
Max Drawdown (3Y) Largest decline over 3 years	-83.28%	-64.57%	-18.71%
Max Drawdown (5Y) Largest decline over 5 years	-96.99%	-66.97%	-30.02%
Max Drawdown (10Y) Largest decline over 10 years	—	-72.74%	—
Current Drawdown Current decline from peak	-64.31%	-97.03%	+32.72%
Average Drawdown Average peak-to-trough decline	-71.26%	-95.93%	+24.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.57%	34.26%	-7.69%

Volatility

ONDS vs. KTOS - Volatility Comparison

Ondas Holdings Inc. (ONDS) has a higher volatility of 19.89% compared to Kratos Defense & Security Solutions, Inc. (KTOS) at 17.76%. This indicates that ONDS's price experiences larger fluctuations and is considered to be riskier than KTOS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONDS	KTOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.89%	17.76%	+2.13%
Volatility (6M) Calculated over the trailing 6-month period	71.13%	54.32%	+16.81%
Volatility (1Y) Calculated over the trailing 1-year period	125.87%	71.09%	+54.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	114.00%	52.65%	+61.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	120.25%	50.91%	+69.34%

Dividends

ONDS vs. KTOS - Dividend Comparison

Neither ONDS nor KTOS has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both ONDS and KTOS in my portfolio?

ONDS and KTOS have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ONDS or KTOS?

ONDS has higher volatility (19.89%) compared to KTOS (17.76%). In terms of maximum drawdown, ONDS dropped -98.28% vs KTOS's -99.81%.

Which has better risk-adjusted returns?

ONDS currently has the higher Sharpe Ratio (1.83 vs -0.13), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.