ONEH vs. KONG

Last updated Aug 1, 2026

ONEH (TrueShares Equity Hedge ETF) and KONG (Formidable Fortress ETF) are both Equity Hedged funds. Both are actively managed. Their 0.04 correlation means their historical movements had little consistent relationship. ONEH charges 0.79%/yr vs 0.89%/yr for KONG.

Performance

ONEH vs. KONG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Equity Hedge ETF (ONEH) and Formidable Fortress ETF (KONG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ONEH

• 1D: 0.04%
• 1M: 0.20%
• 6M: -1.04%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

KONG

• 1D: 1.20%
• 1M: 1.10%
• 6M: 3.01%
• YTD: 4.41%
• 1Y: 6.66%
• 3Y*: 8.45%
• 5Y*: 3.91%
• 10Y*: —
• ALL TIME*: 5.47%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
KONG Formidable Fortress ETF	$14.31K	$9.16K	$24.80K
ONEH TrueShares Equity Hedge ETF	$75.57K	$59.30K	$74.10K

ONEH vs. KONG - Yearly Performance Comparison

	2026 (YTD)
ONEH TrueShares Equity Hedge ETF	-1.24%
KONG Formidable Fortress ETF	1.70%

Correlation

The correlation between ONEH and KONG is 0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 29, 2026	0.04

Return for Risk

ONEH vs. KONG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ONEH

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

KONG

KONG Risk / Return Rank: 25
KONG Sharpe Ratio Rank: 25
KONG Sortino Ratio Rank: 23
KONG Omega Ratio Rank: 23
KONG Calmar Ratio Rank: 24
KONG Martin Ratio Rank: 30

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ONEH vs. KONG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Equity Hedge ETF (ONEH) and Formidable Fortress ETF (KONG). 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.

	ONEH	KONG	Difference
Sharpe ratio: Return per unit of total volatility	—	0.56	—
Sortino ratio: Return per unit of downside risk	—	0.85	—
Omega ratio: Gain probability vs. loss probability	—	1.10	—
Calmar ratio: Return relative to maximum drawdown	—	0.73	—
Martin ratio: Return relative to average drawdown	—	2.73	—

Drawdowns

ONEH vs. KONG - Drawdown Comparison

The maximum ONEH drawdown since its inception was -3.55%, smaller than the maximum KONG drawdown of -19.98%. Use the drawdown chart below to compare losses from any high point for ONEH and KONG.

Drawdown Indicators

	ONEH	KONG	Difference
Max Drawdown Largest peak-to-trough decline	-3.55%	-19.98%	+16.43%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.54%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-15.48%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.34%	—
Current Drawdown Current decline from peak	-1.24%	0.00%	-1.24%
Average Drawdown Average peak-to-trough decline	-1.50%	-5.68%	+4.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.28%	—

Volatility

Volatility by Period

	ONEH	KONG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.27%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.96%	—
Volatility (1Y) Calculated over the trailing 1-year period	5.04%	11.14%	-6.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.04%	14.19%	-9.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.04%	14.50%	-9.46%

ONEH vs. KONG - Expense Ratio Comparison

ONEH has a 0.79% expense ratio, which is lower than KONG's 0.89% expense ratio.

Dividends

ONEH vs. KONG - Dividend Comparison

ONEH has not paid dividends to shareholders, while KONG's dividend yield for the trailing twelve months is around 0.35%.

Position	TTM	2025	2024	2023	2022	2021
KONG Formidable Fortress ETF	0.35%	0.37%	0.78%	0.69%	0.49%	0.12%
ONEH TrueShares Equity Hedge ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ONEH and KONG in my portfolio?

ONEH and KONG have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ONEH or KONG?

On fees, ONEH is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ONEH or KONG?

ONEH is cheaper with a 0.79% expense ratio, compared with 0.89% for KONG.

Which ETF pays a higher dividend yield, ONEH or KONG?

KONG has the higher dividend yield at 0.35%, compared with 0.00% for ONEH.

What is the main difference between ONEH and KONG?

They also come from different issuers: TrueShares and Formidable. Their fees differ too: 0.79% for ONEH and 0.89% for KONG.