Global X FTSE Southeast Asia ETF vs ON Holding AG — how do they compare? Global X FTSE Southeast Asia ETF trades at $21.45, while ON Holding AG trades at $30.64 (market cap $10.33B). The key difference: Global X FTSE Southeast Asia ETF is trading nearer its 52-week high, ON Holding AG nearer its low. Which is the better fit depends on your goals.
| ASEA | ONON | |
|---|---|---|
Sector | Sector/Thematic | Technology |
52-Week High | $21.53 | $50.63 |
52-Week Low | $16.86 | $30.91 |
Market Cap | — | $10.33B |
Enterprise Value | — | $9.47B |
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ONON shares plunged 19.52% to $31.21 after Q2 2026 earnings revealed a rare revenue miss and reduced full-year growth guidance, despite beating EPS estimates. The stock now trades near key support at $30 with bearish technical indicators dominating. Fundamentally, the company maintains strong profitability with 64.82% gross margins and 23.95% ROE, but wholesale channel weakness and cautious consumer spending have tempered growth expectations.
While current valuation multiples appear reasonable (P/E 21.17, P/S 5), the stock faces near-term headwinds from growth deceleration. Analyst consensus remains bullish with a $52.86 price target representing 69% upside, but investors should monitor Q3 earnings execution and wholesale recovery for confirmation of the investment thesis.
Trailing returns across standard periods
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ASEA tracks the performance of the largest companies in Southeast Asia. It provides exposure to key emerging markets including Singapore, Indonesia, Thailand, and Malaysia, with a heavy focus on financials like DBS Group and Bank Central Asia.
Read more on ASEA →ON Holding AG is a Swiss sports company primarily known for its high-performance running shoes, apparel, and accessories under the 'On' brand. The company emphasizes a blend of high-end design, proprietary cloud technology (like CloudTec cushioning), and sustainability in its products. On has rapidly gained market share globally, appealing to both competitive athletes and general consumers in the performance and lifestyle footwear segments.
Read more on ONON →