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FBL vs. FNGU
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between FBL and FNGU is 0.62, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

FBL vs. FNGU

Last updated Jun 3, 2025

Compare and contrast key facts about GraniteShares 2x Long META Daily ETF (FBL) and MicroSectors FANG+™ Index 3X Leveraged ETN (FNGU).

FBL and FNGU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FBL is an actively managed fund by GraniteShares. It was launched on Dec 12, 2022. FNGU is a passively managed fund by Bank of Montreal that tracks the performance of the NYSE FANG (TR) (300%). It was launched on Jan 22, 2018.

Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FBL or FNGU.

Performance

FBL vs. FNGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long META Daily ETF (FBL) and MicroSectors FANG+™ Index 3X Leveraged ETN (FNGU). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Sharpe Ratio

FBL:

0.90

FNGU:

0.25

Sortino Ratio

FBL:

1.53

FNGU:

0.92

Omega Ratio

FBL:

1.20

FNGU:

1.12

Calmar Ratio

FBL:

1.00

FNGU:

0.28

Martin Ratio

FBL:

2.70

FNGU:

0.64

Ulcer Index

FBL:

22.20%

FNGU:

27.62%

Daily Std Dev

FBL:

74.12%

FNGU:

93.18%

Max Drawdown

FBL:

-59.80%

FNGU:

-92.34%

Current Drawdown

FBL:

-24.97%

FNGU:

-37.57%

Returns By Period

In the year-to-date period, FBL achieves a 16.36% return, which is significantly higher than FNGU's -25.65% return.

FBL

YTD

16.36%

1M

24.14%

6M

12.28%

1Y

65.92%

3Y*

N/A

5Y*

N/A

10Y*

N/A

FNGU

YTD

-25.65%

1M

-2.11%

6M

-17.22%

1Y

26.49%

3Y*

82.06%

5Y*

41.24%

10Y*

N/A

*Annualized

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

GraniteShares 2x Long META Daily ETF

MicroSectors FANG+™ Index 3X Leveraged ETN

FBL vs. FNGU - Expense Ratio Comparison

FBL has a 1.15% expense ratio, which is higher than FNGU's 0.95% expense ratio.

FBL
GraniteShares 2x Long META Daily ETF
FNGU
MicroSectors FANG+™ Index 3X Leveraged ETN
Go deeper with the Portfolio Analysis tool — backtest performance, assess risk, compare to benchmarks, and more

Risk-Adjusted Performance

FBL vs. FNGU — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FBL
The Risk-Adjusted Performance Rank of FBL is 7474
Overall Rank
The Sharpe Ratio Rank of FBL is 7373
Sharpe Ratio Rank
The Sortino Ratio Rank of FBL is 7979
Sortino Ratio Rank
The Omega Ratio Rank of FBL is 7777
Omega Ratio Rank
The Calmar Ratio Rank of FBL is 7979
Calmar Ratio Rank
The Martin Ratio Rank of FBL is 6464
Martin Ratio Rank
FNGU
The Risk-Adjusted Performance Rank of FNGU is 3737
Overall Rank
The Sharpe Ratio Rank of FNGU is 2626
Sharpe Ratio Rank
The Sortino Ratio Rank of FNGU is 5252
Sortino Ratio Rank
The Omega Ratio Rank of FNGU is 5050
Omega Ratio Rank
The Calmar Ratio Rank of FNGU is 3333
Calmar Ratio Rank
The Martin Ratio Rank of FNGU is 2525
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

FBL vs. FNGU - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long META Daily ETF (FBL) and MicroSectors FANG+™ Index 3X Leveraged ETN (FNGU). 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.

The current FBL Sharpe Ratio is 0.90, which is higher than the FNGU Sharpe Ratio of 0.25. The chart below compares the historical Sharpe Ratios of FBL and FNGU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Go to the full Sharpe Ratio tool to analyze any stock or portfolio. Customize time frames, set your own risk-free rate, and more

Dividends

FBL vs. FNGU - Dividend Comparison

Neither FBL nor FNGU has paid dividends to shareholders.

TTM20242023
FBL
GraniteShares 2x Long META Daily ETF		0.00%0.00%51.58%
FNGU
MicroSectors FANG+™ Index 3X Leveraged ETN		0.00%0.00%0.00%

Drawdowns

FBL vs. FNGU - Drawdown Comparison

The maximum FBL drawdown since its inception was -59.80%, smaller than the maximum FNGU drawdown of -92.34%. Use the drawdown chart below to compare losses from any high point for FBL and FNGU.

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Go to the full Drawdowns tool for more analysis options, including inflation-adjusted drawdowns, and more

Volatility

FBL vs. FNGU - Volatility Comparison

GraniteShares 2x Long META Daily ETF (FBL) has a higher volatility of 20.94% compared to MicroSectors FANG+™ Index 3X Leveraged ETN (FNGU) at 10.08%. This indicates that FBL's price experiences larger fluctuations and is considered to be riskier than FNGU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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