FNGD vs. AAPL

Last updated Aug 2, 2026

FNGD (MicroSectors FANG+™ Index -3X Inverse Leveraged ETN) is Leveraged Equities fund tracking the NYSE FANG+ Index (-300%), while AAPL (Apple Inc) is a stock. Over the past 5 years, FNGD returned -63.24%/yr vs 16.79%/yr for AAPL. Their -0.66 correlation means they have often moved in opposite directions in the past.

Performance

FNGD vs. AAPL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and Apple Inc (AAPL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNGD achieves a -34.80% return, which is significantly lower than AAPL's 13.84% return.

FNGD

• 1D: -5.03%
• 1M: -4.69%
• 6M: -39.93%
• YTD: -34.80%
• 1Y: -48.33%
• 3Y*: -64.85%
• 5Y*: -63.24%
• 10Y*: —
• ALL TIME*: -69.95%

AAPL

• 1D: -7.35%
• 1M: 0.09%
• 6M: 19.27%
• YTD: 13.84%
• 1Y: 53.24%
• 3Y*: 16.99%
• 5Y*: 16.79%
• 10Y*: 29.23%
• ALL TIME*: 19.30%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AAPL Apple Inc	$19.18B	$17.68B	$17.20B
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN	$13.50M	$14.88M	$20.27M

FNGD vs. AAPL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN	-34.80%	-61.42%	-76.57%	-90.14%	52.21%	-60.04%	-95.60%	-72.46%	-16.61%
AAPL Apple Inc	13.84%	9.05%	30.71%	49.01%	-26.40%	34.65%	82.31%	88.96%	-9.54%

Correlation

The correlation between FNGD and AAPL is -0.36, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.36
Correlation (3Y) Balances recent behavior with more history.	-0.48
Correlation (5Y) Shows whether the relationship held over a longer period.	-0.61
Correlation (All Time) Calculated using the full available price history since Jan 23, 2018	-0.66

Over the past year, the inverse relationship between FNGD and AAPL has weakened: their correlation has moved from -0.66 to -0.36, meaning they move in opposite directions less often than they have historically.

Return for Risk

FNGD vs. AAPL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FNGD

FNGD Risk / Return Rank: 4
FNGD Sharpe Ratio Rank: 4
FNGD Sortino Ratio Rank: 4
FNGD Omega Ratio Rank: 4
FNGD Calmar Ratio Rank: 4
FNGD Martin Ratio Rank: 2

AAPL

AAPL Risk / Return Rank: 89
AAPL Sharpe Ratio Rank: 91
AAPL Sortino Ratio Rank: 88
AAPL Omega Ratio Rank: 90
AAPL Calmar Ratio Rank: 90
AAPL Martin Ratio Rank: 88

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FNGD vs. AAPL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and Apple Inc (AAPL). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FNGD	AAPL	Difference
Sharpe ratio: Return per unit of total volatility	-0.67	1.92	-2.58
Sortino ratio: Return per unit of downside risk	-0.76	2.57	-3.33
Omega ratio: Gain probability vs. loss probability	0.91	1.35	-0.44
Calmar ratio: Return relative to maximum drawdown	-0.68	3.60	-4.27
Martin ratio: Return relative to average drawdown	-1.26	8.56	-9.82

FNGD vs. AAPL - Sharpe Ratio Comparison

The current FNGD Sharpe Ratio is -0.67, which is lower than the AAPL Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of FNGD and AAPL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FNGD vs. AAPL - Drawdown Comparison

The maximum FNGD drawdown since its inception was -100.00%, which is greater than AAPL's maximum drawdown of -81.80%. Use the drawdown chart below to compare losses from any high point for FNGD and AAPL.

Drawdown Indicators

	FNGD	AAPL	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-81.80%	-18.20%
Max Drawdown (1Y) Largest decline over 1 year	-65.92%	-13.80%	-52.12%
Max Drawdown (3Y) Largest decline over 3 years	-97.35%	-33.36%	-63.99%
Max Drawdown (5Y) Largest decline over 5 years	-99.67%	-33.36%	-66.31%
Max Drawdown (10Y) Largest decline over 10 years	—	-38.52%	—
Current Drawdown Current decline from peak	-100.00%	-9.17%	-90.83%
Average Drawdown Average peak-to-trough decline	-87.46%	-29.52%	-57.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.26%	5.79%	+29.47%

Volatility

FNGD vs. AAPL - Volatility Comparison

MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) has a higher volatility of 18.15% compared to Apple Inc (AAPL) at 11.52%. This indicates that FNGD's price experiences larger fluctuations and is considered to be riskier than AAPL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNGD	AAPL	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.15%	11.52%	+6.63%
Volatility (6M) Calculated over the trailing 6-month period	54.65%	20.71%	+33.94%
Volatility (1Y) Calculated over the trailing 1-year period	66.81%	25.91%	+40.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.78%	28.02%	+61.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	90.95%	29.12%	+61.83%

Dividends

FNGD vs. AAPL - Dividend Comparison

FNGD has not paid dividends to shareholders, while AAPL's dividend yield for the trailing twelve months is around 0.34%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAPL Apple Inc	0.34%	0.38%	0.40%	0.49%	0.70%	0.49%	0.61%	1.04%	1.79%	1.45%	1.93%	1.93%
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged 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%

Frequently Asked Questions

Can I hold both FNGD and AAPL in my portfolio?

FNGD and AAPL have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNGD or AAPL?

FNGD has higher volatility (18.15%) compared to AAPL (11.52%). In terms of maximum drawdown, FNGD dropped -100.00% vs AAPL's -81.80%.

Which has better risk-adjusted returns?

AAPL currently has the higher Sharpe Ratio (1.92 vs -0.67), 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.