QQXL vs. ONDG

Last updated Jun 24, 2026

QQXL (ProShares Ultra QQQ Top 30) and ONDG (Leverage Shares 2X Long ONDS Daily ETF) are both Leveraged Equities funds. QQXL is actively managed, while ONDG is passively managed. At a 0.44 correlation, their price movements are largely independent. QQXL charges 0.95%/yr vs 0.75%/yr for ONDG.

Performance

QQXL vs. ONDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra QQQ Top 30 (QQXL) and Leverage Shares 2X Long ONDS Daily ETF (ONDG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QQXL

• 1D: -6.94%
• 1M: -4.15%
• YTD: 29.98%
• 6M: 26.31%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ONDG

• 1D: -7.89%
• 1M: -22.81%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQXL vs. ONDG - Yearly Performance Comparison

	2026 (YTD)
QQXL ProShares Ultra QQQ Top 30	25.17%
ONDG Leverage Shares 2X Long ONDS Daily ETF	-76.88%

Correlation

The correlation between QQXL and ONDG is 0.44, 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 Jan 13, 2026	0.44

Return for Risk

QQXL vs. ONDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra QQQ Top 30 (QQXL) and Leverage Shares 2X Long ONDS Daily ETF (ONDG). 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.

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

Drawdowns

QQXL vs. ONDG - Drawdown Comparison

The maximum QQXL drawdown since its inception was -27.34%, smaller than the maximum ONDG drawdown of -78.13%. Use the drawdown chart below to compare losses from any high point for QQXL and ONDG.

Drawdown Indicators

	QQXL	ONDG	Difference
Max Drawdown Largest peak-to-trough decline	-27.34%	-78.13%	+50.79%
Current Drawdown Current decline from peak	-10.03%	-78.13%	+68.10%
Average Drawdown Average peak-to-trough decline	-6.77%	-56.22%	+49.45%

Volatility

Volatility by Period

	QQXL	ONDG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	40.62%	208.74%	-168.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.62%	208.74%	-168.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.62%	208.74%	-168.12%

QQXL vs. ONDG - Expense Ratio Comparison

QQXL has a 0.95% expense ratio, which is higher than ONDG's 0.75% expense ratio.

Dividends

QQXL vs. ONDG - Dividend Comparison

QQXL's dividend yield for the trailing twelve months is around 0.49%, while ONDG has not paid dividends to shareholders.

Position	TTM	2025
ONDG Leverage Shares 2X Long ONDS Daily ETF	0.00%	0.00%
QQXL ProShares Ultra QQQ Top 30	0.49%	0.08%

Frequently Asked Questions

Can I hold both QQXL and ONDG in my portfolio?

QQXL and ONDG have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QQXL or ONDG?

On fees, ONDG 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, QQXL or ONDG?

ONDG is cheaper with a 0.75% expense ratio, compared with 0.95% for QQXL.

Which ETF pays a higher dividend yield, QQXL or ONDG?

QQXL has the higher dividend yield at 0.49%, compared with 0.00% for ONDG.

What is the main difference between QQXL and ONDG?

They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for QQXL and 0.75% for ONDG.