FNGD vs. CMGG

Last updated Jun 24, 2026

FNGD (MicroSectors FANG+™ Index -3X Inverse Leveraged ETN) and CMGG (Leverage Shares 2X Long CMG Daily ETF) are both Leveraged Equities funds. FNGD is passively managed, while CMGG is actively managed. At a correlation of -0.15, they often move in opposite directions. FNGD charges 0.95%/yr vs 0.75%/yr for CMGG.

Performance

FNGD vs. CMGG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and Leverage Shares 2X Long CMG Daily ETF (CMGG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNGD achieves a -27.13% return, which is significantly higher than CMGG's -37.52% return.

FNGD

• 1D: 7.44%
• 1M: 2.40%
• YTD: -27.13%
• 6M: -23.35%
• 1Y: -49.41%
• 3Y*: -65.49%
• 5Y*: -62.47%
• 10Y*: —

CMGG

• 1D: 2.82%
• 1M: -12.95%
• YTD: -37.52%
• 6M: -40.08%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FNGD vs. CMGG - Yearly Performance Comparison

	2026 (YTD)	2025
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN	-27.13%	9.34%
CMGG Leverage Shares 2X Long CMG Daily ETF	-37.52%	36.20%

Correlation

The correlation between FNGD and CMGG is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 17, 2025	-0.15

Return for Risk

FNGD vs. CMGG — Risk / Return Rank

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

FNGD

FNGD Risk / Return Rank: 3
FNGD Sharpe Ratio Rank: 3
FNGD Sortino Ratio Rank: 3
FNGD Omega Ratio Rank: 3
FNGD Calmar Ratio Rank: 3
FNGD Martin Ratio Rank: 1

CMGG

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

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.

FNGD vs. CMGG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and Leverage Shares 2X Long CMG Daily ETF (CMGG). 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	CMGG	Difference
Sharpe ratio: Return per unit of total volatility	-0.76	—	—
Sortino ratio: Return per unit of downside risk	-1.00	—	—
Omega ratio: Gain probability vs. loss probability	0.89	—	—
Calmar ratio: Return relative to maximum drawdown	-0.75	—	—
Martin ratio: Return relative to average drawdown	-1.52	—	—

Drawdowns

FNGD vs. CMGG - Drawdown Comparison

The maximum FNGD drawdown since its inception was -100.00%, which is greater than CMGG's maximum drawdown of -56.75%. Use the drawdown chart below to compare losses from any high point for FNGD and CMGG.

Drawdown Indicators

	FNGD	CMGG	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-56.75%	-43.25%
Max Drawdown (1Y) Largest decline over 1 year	-65.92%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-97.35%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-99.67%	—	—
Current Drawdown Current decline from peak	-100.00%	-48.19%	-51.81%
Average Drawdown Average peak-to-trough decline	-87.30%	-23.37%	-63.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.15%	—	—

Volatility

Volatility by Period

	FNGD	CMGG	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.07%	—	—
Volatility (6M) Calculated over the trailing 6-month period	53.22%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	65.50%	68.93%	-3.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.67%	68.93%	+20.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.30%	68.93%	+22.37%

FNGD vs. CMGG - Expense Ratio Comparison

FNGD has a 0.95% expense ratio, which is higher than CMGG's 0.75% expense ratio.

Dividends

FNGD vs. CMGG - Dividend Comparison

Neither FNGD nor CMGG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FNGD and CMGG in my portfolio?

FNGD and CMGG have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FNGD or CMGG?

On fees, CMGG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FNGD or CMGG?

CMGG is cheaper with a 0.75% expense ratio, compared with 0.95% for FNGD.

Which ETF pays a higher dividend yield, FNGD or CMGG?

FNGD and CMGG have nearly identical dividend yields, around 0.00%.

What is the main difference between FNGD and CMGG?

They also come from different issuers: BMO and Leverage Shares. Their fees differ too: 0.95% for FNGD and 0.75% for CMGG.