- ISIN
- US0636798649
- CUSIP
- 063679666
- Issuer
- BMO
- Inception Date
- Jan 22, 2018
- Region
- North America (U.S.)
- Category
- Leveraged Equities
- Leveraged
- 3x
- Index Tracked
- NYSE FANG+ Index (-300%)
- Distribution Policy
- Accumulating
- Asset Class
- Equity
- Asset Class Size
- Multi-Cap
- Assets Under Management
- $60M
Share Price Chart
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Performance
FNGD Performance Chart
MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) is down 41.8% since the beginning of the year. FNGD is currently trading at $31 per share. Investors who bought $1,000 worth of FNGD shares 5 years ago would now be looking at an investment worth $5.
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Returns By Period
MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) has returned -41.82% so far this year and -60.64% over the past 12 months.
MicroSectors FANG+™ Index -3X Inverse Leveraged ETN
- 1D
- 3.34%
- 1M
- -28.48%
- YTD
- -41.82%
- 6M
- -33.35%
- 1Y
- -60.64%
- 3Y*
- -69.29%
- 5Y*
- -65.57%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.74%
- 1M
- 4.90%
- YTD
- 10.35%
- 6M
- 10.28%
- 1Y
- 26.52%
- 3Y*
- 20.83%
- 5Y*
- 12.30%
- 10Y*
- 13.66%
FNGD Monthly Returns History
Based on dividend-adjusted daily data since Jan 23, 2018, FNGD's average daily return is -0.32%, while the average monthly return is -7.42%.
Historically, 36% of months were positive and 64% were negative. The best month was Apr 2022 with a return of +68.8%, while the worst month was Apr 2020 at -47.3%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 12 months.
On a daily basis, FNGD closed higher 44% of trading days. The best single day was Mar 16, 2020 with a return of +38.5%, while the worst single day was Apr 9, 2025 at -40.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 8.54% | 17.13% | 10.30% | -38.62% | -32.83% | 0.62% | -41.82% | ||||||
| 2025 | -11.27% | 14.19% | 31.86% | -35.84% | -29.46% | -21.79% | -4.33% | -2.75% | -14.81% | -14.45% | 3.65% | 16.08% | -61.42% |
| 2024 | -10.12% | -27.10% | -3.87% | 6.48% | -16.55% | -24.46% | 0.45% | -1.94% | -10.30% | -6.66% | -18.30% | -17.76% | -76.57% |
| 2023 | -43.50% | -16.62% | -33.39% | 1.99% | -39.38% | -21.97% | -12.40% | 5.74% | 19.42% | 2.22% | -31.92% | -15.38% | -90.14% |
| 2022 | 19.21% | 17.60% | -26.32% | 68.77% | -10.90% | 8.09% | -30.33% | 6.87% | 32.79% | 13.88% | -36.67% | 27.14% | 52.21% |
| 2021 | -9.47% | -18.41% | 3.06% | -15.14% | 4.14% | -25.38% | 4.92% | -10.94% | 13.60% | -27.41% | 0.00% | 3.30% | -60.04% |
Benchmark Metrics
MicroSectors FANG+™ Index -3X Inverse Leveraged ETN has an annualized alpha of -25.83%, beta of -3.81, and R2 of 0.66 versus S&P 500 Index. Calculated based on daily prices since January 24, 2018.
- This ETF tended to rise when S&P 500 Index fell (downside capture of -295.29%), but participation in market rallies was also limited (-158.39%) - a profile typical of counter-cyclical assets.
- This ETF had an annualized alpha of -25.83% versus S&P 500 Index - delivering less than market exposure alone would predict.
- Beta of -3.81 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- -25.83%
- Beta
- -3.81
- R²
- 0.66
- Upside Capture
- -158.39%
- Downside Capture
- -295.29%
Expense Ratio
FNGD has a high expense ratio of 0.95%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
FNGD ranks 1 for risk / return — in the bottom 1% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and compare them to S&P 500 Index.
| FNGD | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.28 | ||
| Sortino ratioReturn per unit of downside risk | -4.83 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.41 | -0.60 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | 2.93 | -3.85 |
| Martin ratioReturn relative to average drawdown | -1.84 | 13.52 | -15.36 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the MicroSectors FANG+™ Index -3X Inverse Leveraged ETN. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the MicroSectors FANG+™ Index -3X Inverse Leveraged ETN was 100.00%, occurring on Jun 1, 2026. The portfolio has not yet recovered.
The current MicroSectors FANG+™ Index -3X Inverse Leveraged ETN drawdown is 100.00%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -100.00%Jun 2026 | 8y 3mo | — | 8y 3moFeb 2018 - now |
2018 correction2018 | -10.11%Jan 2018 | 4d | 7d | 11dJan 2018 - Feb 2018 |
2018 pullback2018 | -8.18%Feb 2018 | 0s | 2d | 2dFeb 2018 - Feb 2018 |
Drawdown Indicators
| FNGD | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -56.78% | -43.22% |
Max Drawdown (1Y)Largest decline over 1 year | -65.92% | -9.10% | -56.82% |
Max Drawdown (3Y)Largest decline over 3 years | -97.37% | -18.90% | -78.47% |
Max Drawdown (5Y)Largest decline over 5 years | -99.67% | -25.43% | -74.24% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -100.00% | -0.74% | -99.26% |
Average DrawdownAverage peak-to-trough decline | -87.25% | -10.72% | -76.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.99% | 1.97% | +31.02% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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