FBGX vs. MS

Last updated Jun 3, 2026

FBGX (UBS AG FI Enhanced Large Cap Growth ETN) is Leveraged Equities fund tracking the Russell 1000 Growth Index (200%), while MS (Morgan Stanley) is a stock. At a 0.48 correlation, their price movements are largely independent.

Performance

FBGX vs. MS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UBS AG FI Enhanced Large Cap Growth ETN (FBGX) and Morgan Stanley (MS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FBGX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MS

• 1D: 1.88%
• 1M: 13.05%
• YTD: 22.42%
• 6M: 28.53%
• 1Y: 71.47%
• 3Y*: 41.02%
• 5Y*: 22.02%
• 10Y*: 26.80%

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

FBGX vs. MS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FBGX UBS AG FI Enhanced Large Cap Growth ETN	0.00%	0.00%	35.73%	83.74%	-56.41%	57.04%	65.79%	75.84%	-16.58%	64.01%
MS Morgan Stanley	22.42%	45.16%	39.73%	13.93%	-10.34%	46.65%	38.09%	32.67%	-22.76%	26.61%

Correlation

The correlation between FBGX and MS is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Jun 12, 2014	0.48

The correlation between FBGX and MS shifts across timeframes, from 0.17 (3 years) to 0.48 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FBGX vs. MS — Risk / Return Rank

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

MS

MS Risk / Return Rank: 91
MS Sharpe Ratio Rank: 93
MS Sortino Ratio Rank: 91
MS Omega Ratio Rank: 92
MS Calmar Ratio Rank: 86
MS Martin Ratio Rank: 90

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.

FBGX vs. MS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS AG FI Enhanced Large Cap Growth ETN (FBGX) and Morgan Stanley (MS). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	FBGX	MS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.87	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.77	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.85	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.29	—

Drawdowns

Drawdown Indicators

	FBGX	MS	Difference
Max Drawdown Largest peak-to-trough decline	—	-88.12%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-18.83%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-29.24%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-32.38%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-51.33%	—
Current Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-33.72%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.67%	—

Volatility

Volatility by Period

	FBGX	MS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.58%	—
Volatility (6M) Calculated over the trailing 6-month period	—	20.69%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	25.07%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	28.63%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	31.48%	—

Dividends

FBGX vs. MS - Dividend Comparison

FBGX has not paid dividends to shareholders, while MS's dividend yield for the trailing twelve months is around 1.86%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBGX UBS AG FI Enhanced Large Cap Growth ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MS Morgan Stanley	1.86%	2.17%	2.82%	3.49%	3.47%	2.14%	2.04%	2.54%	2.77%	1.72%	1.66%	1.73%

Frequently Asked Questions

Can I hold both FBGX and MS in my portfolio?

FBGX and MS have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.