APO vs. FNGG

Last updated Jun 4, 2026

APO (Apollo Global Management, Inc.) is a stock, while FNGG (Direxion Daily NYSE FANG+ Bull 2X Shares) is Leveraged Equities fund tracking the NYSE FANG+ Index (2x Leveraged). Over the past 3 years, APO returned 23.22%/yr vs 62.01%/yr for FNGG. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

APO vs. FNGG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Apollo Global Management, Inc. (APO) and Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APO achieves a -13.38% return, which is significantly lower than FNGG's 28.89% return.

APO

• 1D: -3.42%
• 1M: -3.34%
• YTD: -13.38%
• 6M: -6.78%
• 1Y: -3.63%
• 3Y*: 23.22%
• 5Y*: 19.10%
• 10Y*: 27.60%

FNGG

• 1D: -2.33%
• 1M: 23.02%
• YTD: 28.89%
• 6M: 17.02%
• 1Y: 55.32%
• 3Y*: 62.01%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

APO vs. FNGG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
APO Apollo Global Management, Inc.	-13.38%	-11.12%	79.87%	49.44%	-9.59%	18.38%
FNGG Direxion Daily NYSE FANG+ Bull 2X Shares	28.89%	27.21%	98.76%	204.23%	-87.15%	-3.07%

Correlation

The correlation between APO and FNGG is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (All Time) Calculated using the full available price history since Oct 1, 2021	0.54

Over the past year, the correlation between APO and FNGG has dropped to 0.27 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.

Return for Risk

APO vs. FNGG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

APO

APO Risk / Return Rank: 35
APO Sharpe Ratio Rank: 37
APO Sortino Ratio Rank: 32
APO Omega Ratio Rank: 32
APO Calmar Ratio Rank: 37
APO Martin Ratio Rank: 36

FNGG

FNGG Risk / Return Rank: 32
FNGG Sharpe Ratio Rank: 39
FNGG Sortino Ratio Rank: 36
FNGG Omega Ratio Rank: 35
FNGG Calmar Ratio Rank: 27
FNGG Martin Ratio Rank: 25

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

APO vs. FNGG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Apollo Global Management, Inc. (APO) and Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	APO	FNGG	Difference
Sharpe ratio: Return per unit of total volatility	-0.10	1.40	-1.51
Sortino ratio: Return per unit of downside risk	0.10	1.93	-1.83
Omega ratio: Gain probability vs. loss probability	1.01	1.24	-0.23
Calmar ratio: Return relative to maximum drawdown	-0.10	1.29	-1.40
Martin ratio: Return relative to average drawdown	-0.22	3.42	-3.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APO vs. FNGG - Sharpe Ratio Comparison

The current APO Sharpe Ratio is -0.10, which is lower than the FNGG Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of APO and FNGG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	APO	FNGG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.10	1.40	-1.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.07	+0.51

Drawdowns

APO vs. FNGG - Drawdown Comparison

The maximum APO drawdown since its inception was -56.99%, smaller than the maximum FNGG drawdown of -91.33%. Use the drawdown chart below to compare losses from any high point for APO and FNGG.

Drawdown Indicators

	APO	FNGG	Difference
Max Drawdown Largest peak-to-trough decline	-56.99%	-91.33%	+34.34%
Max Drawdown (1Y) Largest decline over 1 year	-34.97%	-43.01%	+8.04%
Max Drawdown (3Y) Largest decline over 3 years	-42.82%	-47.03%	+4.21%
Max Drawdown (5Y) Largest decline over 5 years	-42.82%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-53.48%	—	—
Current Drawdown Current decline from peak	-28.81%	-4.67%	-24.14%
Average Drawdown Average peak-to-trough decline	-16.36%	-56.04%	+39.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.52%	16.25%	+0.27%

Volatility

APO vs. FNGG - Volatility Comparison

The current volatility for Apollo Global Management, Inc. (APO) is 8.08%, while Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG) has a volatility of 11.39%. This indicates that APO experiences smaller price fluctuations and is considered to be less risky than FNGG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APO	FNGG	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.08%	11.39%	-3.31%
Volatility (6M) Calculated over the trailing 6-month period	27.08%	30.55%	-3.47%
Volatility (1Y) Calculated over the trailing 1-year period	35.14%	39.61%	-4.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.05%	67.64%	-30.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.81%	67.64%	-29.83%

Dividends

APO vs. FNGG - Dividend Comparison

APO's dividend yield for the trailing twelve months is around 1.68%, less than FNGG's 9.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APO Apollo Global Management, Inc.	1.68%	1.38%	1.10%	1.81%	2.51%	2.90%	4.72%	4.23%	7.86%	5.53%	6.46%	12.91%
FNGG Direxion Daily NYSE FANG+ Bull 2X Shares	9.20%	11.89%	0.79%	0.88%	0.00%	4.99%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both APO and FNGG in my portfolio?

APO and FNGG have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APO or FNGG?

FNGG has higher volatility (11.39%) compared to APO (8.08%). In terms of maximum drawdown, APO dropped -56.99% vs FNGG's -91.33%.

Which has better risk-adjusted returns?

FNGG currently has the higher Sharpe Ratio (1.40 vs -0.10), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.