FNGD vs. FNGS
FNGD (MicroSectors FANG+™ Index -3X Inverse Leveraged ETN) and FNGS (MicroSectors FANG+ ETN) are both exchange-traded funds - FNGD is a Leveraged Equities fund tracking the NYSE FANG+ Index (Gross Total Return, -300% Daily), while FNGS is a Large Cap Growth Equities fund tracking the NYSE FANG+ Index. Both are passively managed. Over the past 5 years, FNGD returned -63.24%/yr vs 18.98%/yr for FNGS. Their -0.99 correlation means they have often moved in opposite directions in the past. FNGD charges 0.95%/yr vs 0.58%/yr for FNGS.
Performance
FNGD vs. FNGS - Performance Comparison
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Returns By Period
In the year-to-date period, FNGD achieves a -34.80% return, which is significantly lower than FNGS's 9.02% 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%
FNGS
- 1D
- 1.63%
- 1M
- 0.59%
- 6M
- 12.42%
- YTD
- 9.02%
- 1Y
- 15.45%
- 3Y*
- 28.64%
- 5Y*
- 18.98%
- 10Y*
- —
- ALL TIME*
- 30.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $13.50M | $14.88M | $20.27M | |
| $1.57M | $1.92M | $2.40M |
FNGD vs. FNGS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN | -34.80% | -61.42% | -76.57% | -90.14% | 52.21% | -60.04% | -95.60% | -25.39% |
FNGS MicroSectors FANG+ ETN | 9.02% | 18.64% | 51.99% | 95.24% | -40.32% | 16.96% | 101.99% | 10.10% |
Correlation
The correlation between FNGD and FNGS is -0.98, 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. | -0.98 |
Correlation (3Y) Balances recent behavior with more history. | -0.98 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.99 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2019 | -0.99 |
The correlation between FNGD and FNGS has been stable across timeframes, ranging from -0.99 to -0.98 - a consistent structural relationship.
FNGD vs. FNGS - Sectors Allocation Comparison
Sectors
FNGD
FNGS
Technology
Communication Services
Consumer Cyclical
Financial Services
Basic Materials
-
-
Consumer Defensive
-
-
Energy
-
-
Healthcare
-
-
Industrials
-
-
Real Estate
-
-
Utilities
-
-
Technology
FNGD
FNGS
Communication Services
FNGD
FNGS
Consumer Cyclical
FNGD
FNGS
Financial Services
FNGD
FNGS
Basic Materials
FNGD
-
FNGS
-
Consumer Defensive
FNGD
-
FNGS
-
Energy
FNGD
-
FNGS
-
Healthcare
FNGD
-
FNGS
-
Industrials
FNGD
-
FNGS
-
Real Estate
FNGD
-
FNGS
-
Utilities
FNGD
-
FNGS
-
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Return for Risk
FNGD vs. FNGS — Risk / Return Rank
FNGD
FNGS
FNGD vs. FNGS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and MicroSectors FANG+ ETN (FNGS). 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 | FNGS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.18 | ||
| Sortino ratioReturn per unit of downside risk | -1.62 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.10 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | 0.51 | -1.19 |
| Martin ratioReturn relative to average drawdown | -1.26 | 1.37 | -2.63 |
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Drawdowns
FNGD vs. FNGS - Drawdown Comparison
The maximum FNGD drawdown since its inception was -100.00%, which is greater than FNGS's maximum drawdown of -48.98%. Use the drawdown chart below to compare losses from any high point for FNGD and FNGS.
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Drawdown Indicators
| FNGD | FNGS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -48.98% | -51.02% |
Max Drawdown (1Y)Largest decline over 1 year | -65.92% | -22.93% | -42.99% |
Max Drawdown (3Y)Largest decline over 3 years | -97.35% | -26.77% | -70.58% |
Max Drawdown (5Y)Largest decline over 5 years | -99.67% | -48.98% | -50.69% |
Current DrawdownCurrent decline from peak | -100.00% | -7.74% | -92.26% |
Average DrawdownAverage peak-to-trough decline | -87.46% | -10.80% | -76.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.26% | 8.61% | +26.65% |
Volatility
FNGD vs. FNGS - Volatility Comparison
MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) has a higher volatility of 18.15% compared to MicroSectors FANG+ ETN (FNGS) at 5.87%. This indicates that FNGD's price experiences larger fluctuations and is considered to be riskier than FNGS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNGD | FNGS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.15% | 5.87% | +12.28% |
Volatility (6M)Calculated over the trailing 6-month period | 54.65% | 18.36% | +36.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 66.81% | 22.86% | +43.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 89.78% | 30.29% | +59.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 90.95% | 31.07% | +59.88% |
FNGD vs. FNGS - Expense Ratio Comparison
FNGD has a 0.95% expense ratio, which is higher than FNGS's 0.58% expense ratio.
Dividends
FNGD vs. FNGS - Dividend Comparison
Neither FNGD nor FNGS has paid dividends to shareholders.
Frequently Asked Questions
FNGD and FNGS have a correlation of -0.98, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNGD has higher volatility (18.15%) compared to FNGS (5.87%). In terms of maximum drawdown, FNGD dropped -100.00% vs FNGS's -48.98%.
On 5-year performance, FNGS leads with 18.98% vs -63.24% for FNGD. On fees, FNGS is cheaper at 0.58% per year. On volatility, FNGS has been the lower-risk option at 5.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FNGS has performed better with a 18.98% return vs -63.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FNGS is cheaper with a 0.58% expense ratio, compared with 0.95% for FNGD.
FNGD and FNGS have nearly identical dividend yields, around 0.00%.
FNGD is categorized as Leveraged Equities, while FNGS is Large Cap Growth Equities. FNGD tracks NYSE FANG+ Index (Gross Total Return, -300% Daily), while FNGS tracks NYSE FANG+ Index. Their fees differ too: 0.95% for FNGD and 0.58% for FNGS.
FNGS currently has the higher Sharpe Ratio (0.52 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.
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