IVV vs ONG
iShares Core S&P 500 ETF vs Leverage Shares 2X Long ON Daily ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IVV | ONG | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.75% | |
| AUM | $865.2B | $1M | |
| Dividend Yield | 1.09% | 0.00% | |
| Holdings | 508 | 31 | |
| YTD Return | +13.72% | -66.92% | |
| 1Y Return | +21.64% | -66.92% | |
| 3Y Return (annualized) | +21.55% | - | |
| 5Y Return (annualized) | +13.27% | - | |
| Volatility (annualized) | 15.1% | 118.4% | |
| Max Drawdown | -56.5% | -89.6% | |
| Fund Family | iShares by BlackRock (US) | Leverage Shares | |
| Category | Equity | Alternative | |
| Inception | May 15, 2000 | Jun 2, 2026 |
IVV vs ONG Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Leverage Shares 2X Long ON Daily ETF (ONG) is a ETF from Leverage Shares. Over the past year IVV returned +21.64% while ONG returned -66.92%. Year to date, IVV is up 13.72% versus a loss of 66.92% for ONG.
Risk: Volatility and Drawdowns
ONG has been the more volatile fund, with annualized monthly volatility of 118.4% compared with 15.1% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.5% for IVV and -89.6% for ONG. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.51. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while ONG charges 0.75%. On a $10,000 position that is $3 vs $75 annually, a gap of $72 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 0.00% for ONG.
Holdings Overlap
IVV and ONG share 0 holdings out of 506 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or ONG?
IVV has an expense ratio of 0.03% while ONG charges 0.75%. IVV is the cheaper option. On a $10,000 investment, that is $72 per year of difference.
Which performed better, IVV or ONG?
Over the past year IVV returned +21.64% vs -66.92% for ONG, so IVV leads on 1-year performance. Over the longest common window we track (5 years), IVV annualized +7.04% vs -27.45% for ONG. Past performance does not guarantee future results.
Which is riskier, IVV or ONG?
ONG has been the more volatile fund at 118.4% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs ONG -89.6%.
Should I hold both IVV and ONG?
IVV and ONG have a monthly-return correlation of 0.51, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and ONG?
IVV and ONG share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, IVV or ONG?
IVV yields 1.09% while ONG yields 0.00%, so IVV currently pays the higher dividend yield.
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