FNGD vs. IFED
FNGD (MicroSectors FANG+™ Index -3X Inverse Leveraged ETN) and IFED (ETRACS IFED Invest with the Fed TR Index ETN) are both Leveraged Equities funds - FNGD tracks the NYSE FANG+ Index (Gross Total Return, -300% Daily) while IFED tracks the IFED Large-Cap US Equity Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, FNGD returned -64.85%/yr vs 18.74%/yr for IFED. Their -0.64 correlation means they have often moved in opposite directions in the past. FNGD charges 0.95%/yr vs 0.45%/yr for IFED.
Performance
FNGD vs. IFED - 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 IFED's 10.03% 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%
IFED
- 1D
- 0.00%
- 1M
- 13.92%
- 6M
- 14.63%
- YTD
- 10.03%
- 1Y
- 14.76%
- 3Y*
- 18.74%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 15.40%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $13.50M | $14.88M | $20.27M | |
| $159.79K | $83.84K | $44.71K |
FNGD vs. IFED - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN | -34.80% | -61.42% | -76.57% | -90.14% | 52.21% | -17.71% |
IFED ETRACS IFED Invest with the Fed TR Index ETN | 10.03% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
Correlation
The correlation between FNGD and IFED is -0.47, 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. | -0.47 |
Correlation (3Y) Balances recent behavior with more history. | -0.57 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021 | -0.64 |
The correlation between FNGD and IFED shifts across timeframes, from -0.64 (all time) to -0.47 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FNGD vs. IFED — Risk / Return Rank
FNGD
IFED
FNGD vs. IFED - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and ETRACS IFED Invest with the Fed TR Index ETN (IFED). 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 | IFED | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.11 | ||
| Sortino ratioReturn per unit of downside risk | -1.60 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.14 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | 0.64 | -1.32 |
| Martin ratioReturn relative to average drawdown | -1.26 | 2.01 | -3.27 |
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Drawdowns
FNGD vs. IFED - Drawdown Comparison
The maximum FNGD drawdown since its inception was -100.00%, which is greater than IFED's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for FNGD and IFED.
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Drawdown Indicators
| FNGD | IFED | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -22.36% | -77.64% |
Max Drawdown (1Y)Largest decline over 1 year | -65.92% | -20.18% | -45.74% |
Max Drawdown (3Y)Largest decline over 3 years | -97.35% | -22.36% | -74.99% |
Max Drawdown (5Y)Largest decline over 5 years | -99.67% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -7.61% | -92.39% |
Average DrawdownAverage peak-to-trough decline | -87.46% | -5.85% | -81.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.26% | 6.43% | +28.83% |
Volatility
FNGD vs. IFED - Volatility Comparison
The current volatility for MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) is 18.15%, while ETRACS IFED Invest with the Fed TR Index ETN (IFED) has a volatility of 24.07%. This indicates that FNGD experiences smaller price fluctuations and is considered to be less risky than IFED based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNGD | IFED | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.15% | 24.07% | -5.92% |
Volatility (6M)Calculated over the trailing 6-month period | 54.65% | 27.96% | +26.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 66.81% | 29.34% | +37.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 89.78% | 22.56% | +67.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 90.95% | 22.56% | +68.39% |
FNGD vs. IFED - Expense Ratio Comparison
FNGD has a 0.95% expense ratio, which is higher than IFED's 0.45% expense ratio.
Dividends
FNGD vs. IFED - Dividend Comparison
Neither FNGD nor IFED has paid dividends to shareholders.
Frequently Asked Questions
FNGD and IFED have a correlation of -0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IFED has higher volatility (24.07%) compared to FNGD (18.15%). In terms of maximum drawdown, FNGD dropped -100.00% vs IFED's -22.36%.
On 3-year performance, IFED leads with 18.74% vs -64.85% for FNGD. On fees, IFED is cheaper at 0.45% per year. On volatility, FNGD has been the lower-risk option at 18.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IFED has performed better with a 18.74% return vs -64.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IFED is cheaper with a 0.45% expense ratio, compared with 0.95% for FNGD.
FNGD and IFED have nearly identical dividend yields, around 0.00%.
FNGD tracks NYSE FANG+ Index (Gross Total Return, -300% Daily), while IFED tracks IFED Large-Cap US Equity Index - Benchmark TR Gross. They also come from different issuers: BMO and UBS. Their fees differ too: 0.95% for FNGD and 0.45% for IFED.
IFED currently has the higher Sharpe Ratio (0.44 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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