# ONG (Leverage Shares 2X Long ON Daily ETF)

Leverage Shares · Leveraged ETFs · data as of Oct 9, 2026

Three months to Oct 9, 2026: ONG returned −41.6% where its own daily promise gave −39.6%, 2.0 points short.

## Key facts

- ONG, what ON did: −19.2%, as of Oct 9, 2026.
- ONG, what 2 times a day gives: −39.6%, as of Oct 9, 2026.
- ONG, what the fund returned: −41.6%, as of Oct 9, 2026.
- ONG, the fund itself cost: −2.0 pts, as of Oct 9, 2026.
- ONG, net assets: $1m (issuer page, as of Oct 8, 2026).
- ONG, expense ratio: 0.75% (485BPOS XBRL, May 6, 2026).

## ONG over each window to Oct 9, 2026

| Window | Fund | ON | +2x the move | Difference | ON moved about, annualized |
| --- | --- | --- | --- | --- | --- |
| 1 month | +14.1% | +9.2% | +18.5% | −4.3 pts | 63% |
| 3 months | −41.6% | −19.2% | −38.4% | −3.2 pts | 54% |
| Since launch | −73.2% | −39.7% | −79.5% | +6.2 pts | 75% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of ON, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +2.17 times, against +2 stated | ETFIQ |
| Underlying | ON | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $1m | issuer page, as of Oct 8, 2026 |
| Expense ratio | 0.75% | 485BPOS XBRL, May 6, 2026 |
| First traded | Jun 2, 2026 | ETFIQ |
| Underlying volatility over the window | 54% annualized | ETFIQ |

## Money in and out, to Oct 8, 2026

Monthly figures only. Oct 2026: $0, from ETFIQ, the sum of its days, Oct 7 to Oct 8.

Computed by ETFIQ from the change in shares outstanding times the previous day’s NAV. Every day and month: https://etfiq.com/data/flows/funds/ong.json. Method: https://etfiq.com/methodology/flows

## Questions

### Did ONG return +2 times ON?

Over the three months to Oct 9, 2026, ON moved −19.2% and ONG returned −41.6%. 2 times that move is −38.4%, so the fund came out 3.2 points short of it. Against its own daily promise, 2 times each day's move compounded, it was 2.0 points short.

### Why does ONG not return +2 times over a year?

Because it resets daily. ONG aims at +2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.

### Which +2x ON ETF tracked its stated multiple most closely?

2 issuers sell one. Over the days all of them have been trading, the table on this page ranks them by how far each finished from 2 times the underlying's move. ETFIQ does not rate funds; the order is the figure itself.


## Cite this page

ETFIQ, ONG, leveraged ETFs, data as of Oct 9, 2026. https://etfiq.com/funds/ong
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at https://etfiq.com/data/.

HTML: https://etfiq.com/funds/ong  ·  JSON: https://etfiq.com/funds/ong.json