{"url":"https://etfiq.com/compare/leverage/ondl-vs-ondu","section":"compare","title":"ONDL vs ONDU: which held to its multiple? | ETFIQ","description":"ONDL sets out to return +2 times ONDS each day and ONDU +2 times. Over the three months to Sep 30, 2026 they finished \u221220.2 pts and \u221215.3 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, ONDL or ONDU?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, ONDL finished 20.2 points from what its multiple implies and ONDU finished 15.3 points from its own, so ONDU came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are ONDL and ONDU levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on Ondas, ONDL at +2 times and ONDU at +2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, ONDL or ONDU?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window ONDL\u2019s moved at 78% annualized and ONDU\u2019s at 78%, so ONDL has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold ONDL or ONDU for a year?","acceptedAnswer":{"@type":"Answer","text":"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\u2019s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way."}},{"@type":"Question","name":"Which is cheaper, ONDL or ONDU?","acceptedAnswer":{"@type":"Answer","text":"ONDL charges 1.32% a year and ONDU charges 1.49%, so ONDL is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Leveraged ETFs","item":"https://etfiq.com/leverage/"},{"@type":"ListItem","position":3,"name":"ONDL vs ONDU","item":"https://etfiq.com/compare/leverage/ondl-vs-ondu"}]},{"@type":"WebPage","name":"ONDL vs ONDU: which held to its multiple?","description":"ONDL sets out to return +2 times ONDS each day and ONDU +2 times. Over the three months to Sep 30, 2026 they finished \u221220.2 pts and \u221215.3 pts away.","url":"https://etfiq.com/compare/leverage/ondl-vs-ondu","dateModified":"2026-09-30","abstract":"Over the days both have traded, ONDL finished 5.5 points from its stated multiple and ONDU 2.7.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of ONDL and ONDU","description":"ONDL sets out to return +2 times ONDS each day and ONDU +2 times. Over the three months to Sep 30, 2026 they finished \u221220.2 pts and \u221215.3 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/ondl-vs-ondu","license":"https://etfiq.com/standards/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/leverage.json"}],"variableMeasured":["Stated multiple","Underlying return","What the stated multiple implies","Fund total return","Difference against the label","Volatility of the underlying","Expense ratio"],"keywords":["exchange-traded funds","ETF","Leveraged ETFs","fund data","SEC filings"]}],"characters":6421,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / ONDL vs ONDU \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n ONDL vs ONDU: which held to its multiple?\n\n Over the days both have traded, ONDL finished 5.5 points from its stated multiple and ONDU 2.7.\n Copy this for sharing \n \n Defiance Daily Target 2X Long ONDS ETF and Tradr 2X Long ONDS Daily ETF.\n\n Download as PDF \n\n \u221235.1% ONDL returned, 3 months \n \u221230.2% ONDU returned, 3 months \n \u221220.2 pts ONDL from its stated multiple \n \u221215.3 pts ONDU from its stated multiple \n\n ETFIQ Decay Resistance Score: ONDU scores higher\n Did it keep u","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","citation":"ETFIQ, as of Sep 30, 2026. https://etfiq.com/compare/leverage/ondl-vs-ondu","a":{"ticker":"ONDL","name":"Defiance Daily Target 2X Long ONDS ETF","issuer":"Defiance","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: ONDL returned \u221235.1% where its own daily promise gave \u221226.6%, 8.4 points short.","url":"https://etfiq.com/funds/ondl","key_facts":[{"label":"What ONDS did","value":"\u22127.5%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"\u221226.6%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221235.1%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22128.4 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$30m","as_of":"2026-09-30","source":"the issuer\u2019s own daily fund list, as of Sep 30, 2026"},{"label":"Expense ratio","value":"1.32%","as_of":"2026-09-30","source":"485BPOS XBRL, Aug 25, 2026"}]},"b":{"ticker":"ONDU","name":"Tradr 2X Long ONDS Daily ETF","issuer":"Tradr","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: ONDU returned \u221230.2% where its own daily promise gave \u221226.6%, 3.5 points short.","url":"https://etfiq.com/funds/ondu","key_facts":[{"label":"What ONDS did","value":"\u22127.5%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"\u221226.6%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221230.2%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22123.5 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$4m","as_of":"2026-09-30","source":"the issuer\u2019s own daily fund list, as of Sep 30, 2026"},{"label":"Expense ratio","value":"1.49%","as_of":"2026-09-30","source":"485BPOS XBRL, Jan 12, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/leverage/ondl-vs-ondu"}