ETFIQ
RankingsCompareHoldingsResearch
My portfolioWeekly note
A
vs
B
Share on XDownload as PDFOpen live

ONDC vs ONDG: which held to its multiple?

Over the days both have traded, ONDC finished 4.8 points from its stated multiple and ONDG 3.3. Corgi ONDS 2x Daily ETF and Leverage Shares 2X Long ONDS Daily ETF.

−20.2%
ONDC returned, since launch
−30.7%
ONDG returned, 3 months
−19.7 pts
ONDC from its stated multiple
−15.8 pts
ONDG from its stated multiple
ONDC · 1 month to Sep 30, 20264.8 pts short of its stated multiple
4.8 pts short of its stated multipleONDC returned −13.3% while 2 times ONDS's move would have been −8.5%ONDS −4.3% ×2 implies−8.5%ONDC returned−13.3%4.8 pts short of its stated multipleONDC returned −13.3% while 2 times ONDS's move would have been −8.5%ONDS −4.3% ×2 implies−8.5%ONDC returned−13.3%

ONDC returned −13.3% while 2 times ONDS's move would have been −8.5%

ONDG · 3 months to Sep 30, 202615.8 pts short of its stated multiple
15.8 pts short of its stated multipleONDG returned −30.7% while 2 times ONDS's move would have been −14.9%ONDS −7.5% ×2 implies−14.9%ONDG returned−30.7%15.8 pts short of its stated multipleONDG returned −30.7% while 2 times ONDS's move would have been −14.9%ONDS −7.5% ×2 implies−14.9%ONDG returned−30.7%

ONDG returned −30.7% while 2 times ONDS's move would have been −14.9%

Performance, window by window

Total returnMultiple would giveDifference
WindowONDCONDGONDCONDGONDCONDG
1 month−13.3%−11.8%−8.5%−8.5%−4.8 pts−3.3 pts
3 monthsnot published−30.7%not published−14.9%not published−15.8 pts
6 monthsnot published−58.0%not published−33.6%not published−24.4 pts
Since launch
ONDC Jul 2026 · ONDG Jan 2026
−20.2%−87.2%−0.5%−94.5%−19.7 pts+7.3 pts

ONDC and ONDG over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

ONDC
Corgi ONDS 2x Daily ETF · Aims to return twice the daily move of Ondas (ONDS)
ONDG
Leverage Shares 2X Long ONDS Daily ETF · Aims to return twice the daily move of Ondas (ONDS)
Issuer Corgi Leverage Shares
Sets out to return +2x +2x
Underlying asset ONDS ONDS
Segment company company
Fund returned, 3 months or since launch −13.3% −30.7%
Underlying returned, over that window −4.3% −7.5%
What the stated multiple implies, over that window −8.5% −14.9%
Difference from stated, over that window −4.8 pts −15.8 pts
Fund returned, 1 year or since launch −20.2% −87.2%
Difference from stated, over that window −19.7 pts +7.3 pts
Underlying volatility 51% 78%
Difference over the days both have traded −4.8 pts −3.3 pts
Expense ratio 0.45% 0.75%
Launched Jul 7, 2026 Jan 13, 2026
Net assets $262,230 $24m

ONDC and ONDG on the same fields, as of Sep 30, 2026. Source: ETFIQ.

ONDC in plain words

One month to Sep 30, 2026: ONDC returned −13.3% where its own daily promise gave −10.3%, 3.1 points short. Read the multiple against the whole window instead and 2 times ONDS's −4.3% implies −8.5%, which makes ONDC look 4.8 points short. 1.8 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. ONDC aims to return +2 times ONDS's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. ONDS moved at 51% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.

ONDG in plain words

Three months to Sep 30, 2026: ONDG returned −30.7% where its own daily promise gave −26.6%, 4.1 points short. Read the multiple against the whole window instead and 2 times ONDS's −7.5% implies −14.9%, which makes ONDG look 15.8 points short. 11.7 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. ONDG aims to return +2 times ONDS's move each day, then resets. ONDS moved at 78% annualized over that window.

Questions people ask

Which came closer to its stated multiple, ONDC or ONDG?
Over the window to Sep 30, 2026, ONDC finished 4.8 points from what its multiple implies and ONDG finished 15.8 points from its own, so ONDC came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are ONDC and ONDG levered on the same thing?
Yes. Both are levered on Ondas, ONDC at +2 times and ONDG at +2 times the daily move.
Which one decays faster, ONDC or ONDG?
Decay follows how much the underlying moves about. Over this window ONDC’s moved at 51% annualized and ONDG’s at 78%, so ONDG has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold ONDC or ONDG for a year?
Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
Which is cheaper, ONDC or ONDG?
ONDC charges 0.45% a year and ONDG charges 0.75%, so ONDC is cheaper. Fees come from each fund's prospectus.
Other comparisons
ONDC vs ONDLONDC vs ONDUONDG vs ONDLONDG vs ONDU
ONDC on its own →ONDG on its own →How every figure is computed →Standards and sources →
Where these figures came from
ONDC filings on SEC EDGAR ↗Corgi website ↗ONDG filings on SEC EDGAR ↗ONDG prospectus with the expense ratio (SEC) ↗Leverage Shares website ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, ONDC against ONDG, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/ondc-vs-ondg

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.