ONOF vs. WAMA

Last updated Jul 14, 2026

ONOF (Global X Adaptive U.S. Risk Management ETF) and WAMA (WisdomTree U.S. Adaptive Moving Average Fund) are both Tactical Allocation funds - ONOF tracks the Adaptive Wealth Strategies U.S. Risk Management Index while WAMA tracks the WisdomTree U.S. Adaptive Moving Average Index. Both are passively managed. Their correlation of 0.90 suggests significant overlap in exposure. ONOF charges 0.39%/yr vs 0.32%/yr for WAMA.

Performance

ONOF vs. WAMA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Adaptive U.S. Risk Management ETF (ONOF) and WisdomTree U.S. Adaptive Moving Average Fund (WAMA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ONOF

• 1D: -0.67%
• 1M: 1.21%
• 6M: 4.75%
• YTD: 6.70%
• 1Y: 17.25%
• 3Y*: 11.57%
• 5Y*: 8.35%
• 10Y*: —

WAMA

• 1D: -0.71%
• 1M: 1.42%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ONOF vs. WAMA - Yearly Performance Comparison

	2026 (YTD)
ONOF Global X Adaptive U.S. Risk Management ETF	7.95%
WAMA WisdomTree U.S. Adaptive Moving Average Fund	7.31%

Correlation

The correlation between ONOF and WAMA is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 12, 2026	0.90

Return for Risk

ONOF vs. WAMA — Risk / Return Rank

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

ONOF

ONOF Risk / Return Rank: 56
ONOF Sharpe Ratio Rank: 53
ONOF Sortino Ratio Rank: 51
ONOF Omega Ratio Rank: 52
ONOF Calmar Ratio Rank: 64
ONOF Martin Ratio Rank: 59

WAMA

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

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.

ONOF vs. WAMA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Adaptive U.S. Risk Management ETF (ONOF) and WisdomTree U.S. Adaptive Moving Average Fund (WAMA). 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.

	ONOF	WAMA	Difference
Sharpe ratio: Return per unit of total volatility	1.46	—	—
Sortino ratio: Return per unit of downside risk	2.01	—	—
Omega ratio: Gain probability vs. loss probability	1.26	—	—
Calmar ratio: Return relative to maximum drawdown	2.53	—	—
Martin ratio: Return relative to average drawdown	8.15	—	—

Drawdowns

ONOF vs. WAMA - Drawdown Comparison

The maximum ONOF drawdown since its inception was -26.21%, which is greater than WAMA's maximum drawdown of -5.73%. Use the drawdown chart below to compare losses from any high point for ONOF and WAMA.

Drawdown Indicators

	ONOF	WAMA	Difference
Max Drawdown Largest peak-to-trough decline	-26.21%	-5.73%	-20.48%
Max Drawdown (1Y) Largest decline over 1 year	-6.86%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-21.67%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.21%	—	—
Current Drawdown Current decline from peak	-1.26%	-1.11%	-0.15%
Average Drawdown Average peak-to-trough decline	-6.07%	-1.44%	-4.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.12%	—	—

Volatility

Volatility by Period

	ONOF	WAMA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.11%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.04%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.93%	13.74%	-1.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.43%	13.74%	+0.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.36%	13.74%	+0.62%

ONOF vs. WAMA - Expense Ratio Comparison

ONOF has a 0.39% expense ratio, which is higher than WAMA's 0.32% expense ratio.

Dividends

ONOF vs. WAMA - Dividend Comparison

ONOF's dividend yield for the trailing twelve months is around 1.23%, more than WAMA's 0.42% yield.

Position	TTM	2025	2024	2023	2022	2021
ONOF Global X Adaptive U.S. Risk Management ETF	1.23%	1.38%	0.93%	1.37%	1.92%	0.69%
WAMA WisdomTree U.S. Adaptive Moving Average Fund	0.42%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ONOF and WAMA in my portfolio?

With a correlation of 0.90, ONOF and WAMA move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, ONOF or WAMA?

On fees, WAMA is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ONOF or WAMA?

WAMA is cheaper with a 0.32% expense ratio, compared with 0.39% for ONOF.

Which ETF pays a higher dividend yield, ONOF or WAMA?

ONOF has the higher dividend yield at 1.23%, compared with 0.42% for WAMA.

What is the main difference between ONOF and WAMA?

ONOF tracks Adaptive Wealth Strategies U.S. Risk Management Index, while WAMA tracks WisdomTree U.S. Adaptive Moving Average Index. They also come from different issuers: Global X and WisdomTree. Their fees differ too: 0.39% for ONOF and 0.32% for WAMA.