- What does ONG invest in?
- ONG is designed to make bullish bets on the stock price of ON Semiconductor Corporation (Nasdaq: ON) through derivatives investments such as swap agreements. ON develops and manufactures semiconductor components and integrated solutions designed to improve energy efficiency, electrification, safety, and automation across multiple industries. Its products include power management devices, analog components, sensors, and connectivity solutions. The objective is to obtain daily leveraged exposure equivalent to 200% of the fund's net assets. To maintain this exposure, daily rebalancing is performed to adjust to ON's daily price movements. As a result, returns may deviate from the expected 2x if held for longer than a single day due to compounding. Note that if ON's value declines by more than 50% relative to the fund, investors could face a total loss. The fund could potentially lose money over time, even if ON's performance strengthens.
- What is the expense ratio of ONG?
- Leverage Shares 2X Long ON Daily ETF (ONG) charges an expense ratio of 0.75%. This is the annual fee deducted from fund assets to cover management and operations.
- Is ONG a good long-term hold?
- ONG is a leveraged fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple — typically negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.
- How does ONG's daily reset work?
- ONG rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level — so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.
- How big is ONG?
- Leverage Shares 2X Long ON Daily ETF (ONG) manages $1.4M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.
- Is ONG actively managed or an index fund?
- ONG's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.
