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FXD vs OND
Which ETF would AI Choose? First Trust Consumer Discretionary AlphaDEX Fund (FXD) vs. ProShares On-Demand ETF (OND)
Key Takeaways
- FXD is a diversified, smart-beta consumer discretionary fund with roughly 119 holdings, while OND is a concentrated thematic fund holding about 27 on-demand platform companies.
- The two funds do not compete directly: FXD offers broad U.S. consumer discretionary exposure, whereas OND targets a narrow, growth-oriented "on-demand economy" theme spanning communication services and technology.
- FXD carries a 0.60% net expense ratio with significantly greater liquidity, while OND charges 0.58% but is a non-diversified fund with a much smaller asset base and thinner trading volume.
- OND's portfolio is heavily weighted toward growth names in digital media, e-gaming, food delivery, and ridesharing, creating higher concentration and volatility risk than FXD's more balanced multi-factor basket.
- On cost efficiency, diversification, liquidity, and risk-adjusted structural profile, Tickeron AI Verdict: FXD is the preferred ticker of the two.
Introduction
Consumer-facing equities sit at the intersection of several powerful macro debates right now: the resilience of household spending, the path of interest rates, and the durability of the post-pandemic digital-services boom. Comparing FXD and OND is useful precisely because they approach the consumer theme from opposite directions. FXD is a broad, rules-based consumer discretionary fund, while OND is a narrow thematic vehicle focused on the "on-demand economy." For investors weighing diversified sector exposure against concentrated thematic positioning, the structural differences between these two products are more instructive than their surface-level overlap.
First Trust Consumer Discretionary AlphaDEX Fund (FXD) Overview
FXD seeks to track the StrataQuant Consumer Discretionary AlphaDEX Index, a passively managed, smart-beta strategy that applies First Trust's proprietary AlphaDEX multi-factor selection methodology to stocks drawn from the Russell 1000 Index. Rather than simply market-cap weighting, the index scores and selects names using growth and value factors, then applies a tiered equal-weighting approach. The fund holds roughly 119 securities, keeping single-stock risk low — the top 10 positions typically account for only about 15–17% of total assets.
Sector allocation is dominated by consumer discretionary (around 70–75%), with meaningful secondary exposure to industrials, communication services, and consumer staples. Representative top holdings in recent periods have included GM, EXPE, M, MAT, and GAP. Launched in 2007, FXD carries a net expense ratio of 0.60% and offers established liquidity and a long operating history relative to many thematic peers.
ProShares On-Demand ETF (OND) Overview
OND tracks the FactSet On-Demand Index, which measures companies providing on-demand access to lifestyle needs — including digital media, e-gaming, fitness, food delivery, ridesharing, and virtual reality experiences. Launched in October 2021, the fund is non-diversified and holds roughly 27 securities, making it far more concentrated than FXD. Its net expense ratio is 0.58%.
The portfolio skews heavily toward communication services (around 53–62%) and technology (roughly 21–27%), with a smaller consumer cyclical sleeve. Top holdings in recent periods have included DASH, NVDA, RBLX, SPOT, UBER, TTWO, and GRAB. Notably, OND also carries significant international exposure, with a sizable portion of assets in Asia. Its small asset base (assets under management, or AUM, in the low single-digit millions) and limited average daily volume are important structural considerations for investors.
Industry and Thematic Backdrop
Both funds operate under a consumer-demand umbrella, but their macro sensitivities differ. FXD's traditional retailers, automakers, and travel companies are closely tied to U.S. household balance sheets, employment trends, and consumer confidence. Discretionary spending remains resilient but price-sensitive, keeping investors attuned to inflation and the trajectory of interest rates.
OND, by contrast, reflects the fortunes of platform-based, digitally native businesses. The on-demand economy faces its own catalysts and risks: competitive pressures in food delivery and ridesharing, gaming-industry cyclicality, regulatory scrutiny around gig-economy labor models, and elevated valuations for growth stocks in a higher-for-longer rate environment. International and emerging-market exposure — particularly in Asia — adds currency and geopolitical dimensions that FXD largely avoids.
Performance and Positioning Comparison
Over recent market cycles, the two funds have exhibited meaningfully different risk profiles. FXD's broad, equal-weighted structure has tended to produce more muted volatility, as its many mid- and large-cap holdings dilute the impact of any single name or theme. Its relative positioning has been influenced by sector rotation within consumer discretionary, earnings cycles among retailers and automakers, and shifts in rate expectations.
OND has been the more volatile of the two, reflecting its concentration in high-growth, high-multiple companies and its meaningful foreign exposure. Performance has swung with sentiment around the gig economy, gaming demand, and risk appetite for speculative growth equities. While this concentration can amplify upside during favorable thematic conditions, it also magnifies drawdowns and creates single-name and liquidity risk that FXD's diversified approach is designed to temper.
AI Screener
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Tickeron AI Verdict
Based on observable structural factors, Tickeron's AI would currently favor FXD over OND. FXD's advantages include substantially broader diversification across roughly 119 holdings, deeper liquidity, a longer operational track record, and a rules-based, multi-factor construction that mitigates single-stock concentration. While OND offers targeted exposure to an intriguing long-term theme at a nearly identical fee, its non-diversified, 27-stock portfolio, small AUM, and higher volatility make it a structurally riskier vehicle for most investors. On balance, FXD presents the more resilient, cost-efficient, and broadly diversified profile in this ETF comparison.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
To compare these two companies we present long-term analysis, their fundamental ratings and make comparative short-term technical analysis which are presented below. The conclusion is FXD is a StrongBuy and OND is a Buy.
FXD's RSI Indicator leaves overbought zone
The 10-day RSI Indicator for FXD moved out of overbought territory on November 05, 2026. This could be a sign that the stock is shifting from an upward trend to a downward trend. Traders may want to look at selling the stock or buying put options. Tickeron's A.I.dvisor looked at 36 instances where the indicator moved out of the overbought zone. In 34 of the 36 cases the stock moved lower in the days that followed. This puts the odds of a move down at 90%.
Technical Analysis (Indicators)
Bearish Trend Analysis
The Stochastic Oscillator entered the overbought zone. Expect a price pull-back in the foreseeable future.
The 50-day moving average for FXD moved below the 200-day moving average on October 08, 2026. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where FXD declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 85%.
FXD broke above its upper Bollinger Band on November 04, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on October 08, 2026. You may want to consider a long position or call options on FXD as a result. In 67 of 79 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 85%.
FXD moved above its 50-day moving average on October 29, 2026 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for FXD crossed bullishly above the 50-day moving average on October 26, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In 14 of 15 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 90%.
The Aroon Indicator entered an Uptrend today. In 196 of 254 cases where FXD Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 77%.
Momentum Indicator for OND turns positive, indicating new upward trend
OND saw its Momentum Indicator move above the 0 level on October 12, 2026. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 73 similar instances where the indicator turned positive. In 61 of the 73 cases, the stock moved higher in the following days. The odds of a move higher are at 84%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where OND's RSI Oscillator exited the oversold zone, 23 of 31 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 74%.
The Moving Average Convergence Divergence (MACD) for OND just turned positive on October 09, 2026. Looking at past instances where OND's MACD turned positive, the stock continued to rise in 37 of 47 cases over the following month. The odds of a continued upward trend are 79%.
The Aroon Indicator entered an Uptrend today. In 191 of 254 cases where OND Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 75%.
Bearish Trend Analysis
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 21 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
| FXD | OND | |
|---|---|---|
| RSI ODDS (%) | 2 days ago 90% | 3 days ago 74% |
| Stochastic ODDS (%) | 2 days ago 84% | 2 days ago 78% |
| Momentum ODDS (%) | 4 days ago 85% | 2 days ago 84% |
| MACD ODDS (%) | N/A | 3 days ago 79% |
| TrendWeek ODDS (%) | 2 days ago 86% | 2 days ago 82% |
| TrendMonth ODDS (%) | 2 days ago 81% | 2 days ago 83% |
| Advances ODDS (%) | N/A | N/A |
| Declines ODDS (%) | 2 days ago 85% | N/A |
| BollingerBands ODDS (%) | 2 days ago 80% | N/A |
| Aroon ODDS (%) | 2 days ago 77% | 2 days ago 75% |
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FXD and
Correlation & Price change
A.I.dvisor indicates that over the last year, FXD has been closely correlated with WSM. These tickers have moved in lockstep 78% of the time. This A.I.-generated data suggests there is a high statistical probability that if FXD jumps, then WSM could also see price increases.
OND and
Correlation & Price change
A.I.dvisor indicates that over the last year, OND has been loosely correlated with BMBL. These tickers have moved in lockstep 52% of the time. This A.I.-generated data suggests there is some statistical probability that if OND jumps, then BMBL could also see price increases.
| Ticker / NAME | Correlation To OND | 1D Price Change % | ||
|---|---|---|---|---|
| OND | 100% | N/A | ||
| BMBL - OND | 52% Loosely correlated | N/A | ||
| TME - OND | 49% Loosely correlated | -1.18% | ||
| CART - OND | 18% Poorly correlated | +0.68% | ||
| DASH - OND | 15% Poorly correlated | +0.01% | ||
| RBLX - OND | 8% Poorly correlated | +2.77% | ||
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