ONDS vs. RCAT

Last updated Apr 1, 2026

Compare and contrast key facts about Ondas Holdings Inc. (ONDS) and Red Cat Holdings, Inc. (RCAT).

Performance

ONDS vs. RCAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ondas Holdings Inc. (ONDS) and Red Cat Holdings, Inc. (RCAT). The values are adjusted to include any dividend payments, if applicable.

ONDS vs. RCAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
ONDS Ondas Holdings Inc.	-7.38%	281.25%	67.32%	-3.77%	-76.30%	-28.08%	-48.17%	0.00%	33.33%
RCAT Red Cat Holdings, Inc.	65.07%	-38.29%	1,360.23%	-6.38%	-54.81%	-30.67%	172.73%	-38.89%	-42.31%

Fundamentals

EPS ONDS : -$0.97 RCAT : -$0.71
PS Ratio ONDS : 24.39 RCAT : 32.62
Total Revenue (TTM) ONDS : $50.73M RCAT : $40.73M
Gross Profit (TTM) ONDS : $20.16M RCAT : $1.28M
EBITDA (TTM) ONDS : -$21.57M RCAT : -$60.91M

Returns By Period

In the year-to-date period, ONDS achieves a -7.38% return, which is significantly lower than RCAT's 65.07% return.

ONDS

• 1D: 10.92%
• 1M: -10.32%
• YTD: -7.38%
• 6M: 17.10%
• 1Y: 744.86%
• 3Y*: 103.04%
• 5Y*: -0.86%
• 10Y*: —

RCAT

• 1D: 12.94%
• 1M: 12.36%
• YTD: 65.07%
• 6M: 26.47%
• 1Y: 122.62%
• 3Y*: 132.61%
• 5Y*: 25.14%
• 10Y*: —

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

Return for Risk

ONDS vs. RCAT — Risk / Return Rank

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

ONDS

ONDS Risk / Return Rank: 98
ONDS Sharpe Ratio Rank: 100
ONDS Sortino Ratio Rank: 97
ONDS Omega Ratio Rank: 93
ONDS Calmar Ratio Rank: 99
ONDS Martin Ratio Rank: 99

RCAT

RCAT Risk / Return Rank: 77
RCAT Sharpe Ratio Rank: 76
RCAT Sortino Ratio Rank: 80
RCAT Omega Ratio Rank: 74
RCAT Calmar Ratio Rank: 78
RCAT Martin Ratio Rank: 75

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. RCAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ondas Holdings Inc. (ONDS) and Red Cat Holdings, Inc. (RCAT). 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.

	ONDS	RCAT	Difference
Sharpe ratio Return per unit of total volatility	5.78	1.03	+4.76
Sortino ratio Return per unit of downside risk	3.96	2.03	+1.93
Omega ratio Gain probability vs. loss probability	1.45	1.23	+0.22
Calmar ratio Return relative to maximum drawdown	13.25	2.03	+11.21
Martin ratio Return relative to average drawdown	31.53	4.43	+27.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ONDS vs. RCAT - Sharpe Ratio Comparison

The current ONDS Sharpe Ratio is 5.78, which is higher than the RCAT Sharpe Ratio of 1.03. The chart below compares the historical Sharpe Ratios of ONDS and RCAT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ONDS	RCAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.78	1.03	+4.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.01	0.22	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	-0.05	-0.06	0.00

Correlation

The correlation between ONDS and RCAT is 0.23, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ONDS vs. RCAT - Dividend Comparison

Neither ONDS nor RCAT has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

ONDS vs. RCAT - Drawdown Comparison

The maximum ONDS drawdown since its inception was -98.28%, roughly equal to the maximum RCAT drawdown of -99.76%. Use the drawdown chart below to compare losses from any high point for ONDS and RCAT.

Drawdown Indicators

	ONDS	RCAT	Difference
Max Drawdown Largest peak-to-trough decline	-98.28%	-99.76%	+1.48%
Max Drawdown (1Y) Largest decline over 1 year	-53.37%	-60.08%	+6.71%
Max Drawdown (5Y) Largest decline over 5 years	-96.99%	-92.25%	-4.74%
Current Drawdown Current decline from peak	-53.64%	-92.15%	+38.51%
Average Drawdown Average peak-to-trough decline	-72.25%	-95.58%	+23.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.43%	27.61%	-5.18%

Volatility

ONDS vs. RCAT - Volatility Comparison

The current volatility for Ondas Holdings Inc. (ONDS) is 25.67%, while Red Cat Holdings, Inc. (RCAT) has a volatility of 37.54%. This indicates that ONDS experiences smaller price fluctuations and is considered to be less risky than RCAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONDS	RCAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.67%	37.54%	-11.87%
Volatility (6M) Calculated over the trailing 6-month period	91.80%	84.17%	+7.63%
Volatility (1Y) Calculated over the trailing 1-year period	130.18%	120.21%	+9.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	113.48%	114.24%	-0.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	121.04%	251.41%	-130.37%

Financials