GET DAILY SIGNALSProShares On-Demand ETF (OND): Exposure to Digital Platforms and Services
Key Takeaways
- OND is the ProShares On-Demand ETF, a passively managed exchange-traded fund (ETF) that tracks the FactSet On-Demand Index.
- The fund invests in global companies that provide on-demand platforms and services, including digital media, gaming, streaming, food delivery, ridesharing, and fitness.
- OND launched on October 26, 2021, is issued by ProShares, and trades on the NYSE Arca exchange.
- The fund carries a net expense ratio of 0.58% and is structured as non-diversified, meaning holdings can be concentrated in fewer names.
- Its portfolio holdings are heavily weighted toward communication services and technology, with notable positions such as DoorDash, NVIDIA, Spotify, Roblox, and Netflix.
What OND Represents
The ProShares On-Demand ETF (OND) gives investors a single vehicle for exposure to companies in the on-demand economy. Instead of selecting individual stocks, the ETF pools capital into a basket of securities that trade on an exchange like any other share.
Investors track OND because it targets a clear theme: platforms and services consumers access on demand, from streaming and gaming to food delivery and ride-hailing. It functions as a thematic fund built around a specific economic trend rather than a broad market benchmark.
Fund Structure and Basics
OND is passively managed and aims to match the performance of the FactSet On-Demand Index before fees and expenses. The index focuses on companies offering on-demand access to lifestyle needs such as digital media, e-gaming, fitness, food delivery, ridesharing, and virtual reality.
ProShares issues and manages the fund, which trades on NYSE Arca and began on October 26, 2021. Under normal conditions it holds at least 80% of assets in index components or similar instruments. The non-diversified structure permits more concentrated positions than a diversified fund would typically allow.
The net expense ratio stands at 0.58%. The fund’s modest asset base relative to larger ETFs can sometimes result in wider bid-ask spreads and lower liquidity.
Holdings and Sector Focus
The portfolio includes global companies tied to the on-demand theme. Top holdings have included DASH (DoorDash), NVDA (NVIDIA), SPOT (Spotify), RBLX (Roblox), and NFLX (Netflix). Additional names that appear regularly are UBER (Uber Technologies), TTWO (Take-Two Interactive), GRAB (Grab Holdings), and LYFT (Lyft).
Sector exposure concentrates in communication services and technology, with smaller weights in consumer cyclical and industrial areas. Geographically the holdings extend beyond the United States into Asia and Europe, reflecting the worldwide reach of these platforms. I also checked this using Tickeron’s AI Screener to see how the holdings compare across industries.
Why Investors Consider OND
OND attracts those seeking targeted exposure to the on-demand economy without picking individual names. The theme covers everyday behaviors such as streaming content, ordering meals, booking rides, and playing games online. It can serve as a satellite holding for investors who expect continued growth in digital and convenience-oriented services.
The fund provides diversification across multiple companies, countries, and sub-sectors. At the same time, the concentrated sector exposure means it functions as a focused bet on digital consumer platforms rather than a broad-market replacement. From what I see, this distinction is important when sizing a position.
Risks and Considerations
Investors should evaluate several factors before adding OND. The non-diversified and thematic approach creates concentration risk, where a few large holdings and a narrow sector set can heavily influence returns. The fund is also sensitive to volatility in high-growth technology and communication-services companies, which often react to interest rates, consumer spending, and regulatory developments.
As a passive fund, OND may show tracking error relative to its index after fees and costs. The 0.58% expense ratio exceeds that of many broad equity ETFs. Modest assets under management and lighter trading volume can also affect liquidity and widen spreads.
AI Tools in Portfolio Research
When reviewing thematic ETFs like OND, I turn to Tickeron’s AI Screener to compare sector weights, volatility, and technical signals against similar funds. It helps surface ideas that align with a specific strategy and keeps the watchlist focused without manual screening of thousands of securities. This approach has been useful for confirming how OND fits within a broader allocation.
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.
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 Oscillator points to a transition from a downward trend to an upward trend -- in cases where OND's RSI Indicator 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.
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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