ON Holding AG vs Ishares Msci Thailand Etf — how do they compare? ON Holding AG trades at $34 (market cap $11.38B), while Ishares Msci Thailand Etf trades at $71.14 (market cap $426.83M). The key difference: ON Holding AG is far larger — about 26.7× Ishares Msci Thailand Etf's market cap, and Ishares Msci Thailand Etf is trading nearer its 52-week high, ON Holding AG nearer its low. Which is the better fit depends on your goals — on Pluang, investors hold ON Holding AG for 22 Days and Ishares Msci Thailand Etf for 65 Days on average.
| ONON | THD | |
|---|---|---|
Market Cap | $11.38B | $426.83M |
Volume | 13,732,872 | 82,409 |
Sector | Consumer Cyclical | Broad Market / Factor |
52-Week High | $50.63 | $75.06 |
52-Week Low | $26.76 | $57.86 |
Typical Hold Time | 22 Days | 65 Days |
Enterprise Value | $10.54B | — |
Signals from Pluang's Aura AI — not financial advice
ONON trades at $33.22, up 0.27% with a bullish technical outlook supported by moving averages. The company demonstrates strong fundamentals with Q2 2026 EPS beating expectations at $0.44 vs. $0.42, maintaining a three-quarter beat streak. Recent investor day announcements include a $1 billion buyback program and ambitious 2029 targets of CHF 5.6B in sales with 22% EBITDA margins, driving positive sentiment.
The stock offers growth potential with 74% analyst buy ratings and a $42.26 consensus target, representing 27% upside. Key risks include elevated valuation multiples (P/E 23.41, P/S 5.52) and competitive pressure in footwear. Strong cash flow generation ($359.5M operating cash flow in 2025) supports the buyback and expansion plans.
THD trades at $71.80, down 0.15% with a bearish technical outlook as moving averages signal selling pressure. Short interest surged 90.6% in September 2026, indicating growing skepticism. The ETF has delivered strong 38% returns over the past year, outperforming ASEAN peers, but faces headwinds from potential profit-taking in AI-exposed holdings like Delta Electronics.
The outlook is cautious given elevated short interest and technical weakness. While THD benefits from Thailand's AI hardware exposure, concentration risk and regional capital outflows pose challenges. Investors should weigh strong historical performance against near-term sentiment pressures.
Trailing returns across standard periods
What Pluang investors did over the last 30 days
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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 →THD is a country-specific ETF that tracks the performance of the Thai equity market. It provides broad exposure to Thailand's economy across sectors like electronics, energy, and financials, with top holdings such as Delta Electronics.
Read more on THD →