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FNGD vs. IUSG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FNGD vs. IUSG

Last updated Aug 6, 2026
Documentation

FNGD (MicroSectors FANG+™ Index -3X Inverse Leveraged ETN) and IUSG (iShares Core S&P U.S. Growth ETF) are both exchange-traded funds - FNGD is a Leveraged Equities fund tracking the NYSE FANG+ Index (Gross Total Return, -300% Daily), while IUSG is a Large Cap Growth Equities fund tracking the S&P 900 Growth Index. Both are passively managed. Over the past 5 years, FNGD returned -64.59%/yr vs 13.72%/yr for IUSG. Their -0.86 correlation means they have often moved in opposite directions in the past. FNGD charges 0.95%/yr vs 0.04%/yr for IUSG.

Performance

FNGD vs. IUSG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and iShares Core S&P U.S. Growth ETF (IUSG). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FNGD achieves a -47.15% return, which is significantly lower than IUSG's 15.15% return.

FNGD

1D
1.83%
1M
-19.83%
6M
-56.69%
YTD
-47.15%
1Y
-57.22%
3Y*
-68.00%
5Y*
-64.59%
10Y*
—
ALL TIME*
-70.62%

IUSG

1D
-0.18%
1M
2.85%
6M
17.75%
YTD
15.15%
1Y
25.64%
3Y*
26.25%
5Y*
13.72%
10Y*
17.45%
ALL TIME*
8.27%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

FNGD

MicroSectors FANG+™ Index -3X Inverse Leveraged ETN
$14.62M$14.13M$19.76M

IUSG

iShares Core S&P U.S. Growth ETF
$106.69M$93.84M$99.41M

FNGD vs. IUSG - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
FNGD
MicroSectors FANG+™ Index -3X Inverse Leveraged ETN		-47.15%-61.42%-76.57%-90.14%52.21%-60.04%-95.60%-72.46%-16.61%
IUSG
iShares Core S&P U.S. Growth ETF		15.15%21.23%34.70%29.28%-28.81%31.26%32.65%30.62%-7.12%

Correlation

The correlation between FNGD and IUSG is -0.90, 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.

-0.90

Correlation (3Y)
Balances recent behavior with more history.

-0.91

Correlation (5Y)
Shows whether the relationship held over a longer period.

-0.89

Correlation (All Time)
Calculated using the full available price history since Jan 23, 2018

-0.86

The correlation between FNGD and IUSG has been stable across timeframes, ranging from -0.91 to -0.86 - a consistent structural relationship.

FNGD vs. IUSG - Sectors Allocation Comparison

Sectors
FNGD
IUSG

Technology

59.6%
50.9%

Communication Services

30.0%
14.9%

Consumer Cyclical

10.4%
8.5%

Financial Services

10.0%
8.6%

Basic Materials

-

0.5%

Consumer Defensive

-

1.0%

Energy

-

0.2%

Healthcare

-

6.5%

Industrials

-

7.7%

Real Estate

-

0.8%

Utilities

-

0.4%

Technology

FNGD
59.6%
IUSG
50.9%

Communication Services

FNGD
30.0%
IUSG
14.9%

Consumer Cyclical

FNGD
10.4%
IUSG
8.5%

Financial Services

FNGD
10.0%
IUSG
8.6%

Basic Materials

FNGD

-

IUSG
0.5%

Consumer Defensive

FNGD

-

IUSG
1.0%

Energy

FNGD

-

IUSG
0.2%

Healthcare

FNGD

-

IUSG
6.5%

Industrials

FNGD

-

IUSG
7.7%

Real Estate

FNGD

-

IUSG
0.8%

Utilities

FNGD

-

IUSG
0.4%

Compare stocks, funds, or ETFs

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

MicroSectors FANG+™ Index -3X Inverse Leveraged ETN

iShares Core S&P U.S. Growth ETF

Often compared with FNGD:
FNGD vs. FNGUFNGD vs. SPYFNGD vs. SOXSFNGD vs. BERZFNGD vs. SQQQFNGD vs. TECSFNGD vs. GLL
Often compared with IUSG:
IUSG vs. IUSVIUSG vs. SCHGIUSG vs. VUGIUSG vs. QQQIUSG vs. IVWIUSG vs. IVVIUSG vs. VOOG

Return for Risk

FNGD vs. IUSG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
FNGD
FNGD Risk / Return Rank: 22
Overall Rank
FNGD Sharpe Ratio Rank: 22
Sharpe Ratio Rank
FNGD Sortino Ratio Rank: 33
Sortino Ratio Rank
FNGD Omega Ratio Rank: 33
Omega Ratio Rank
FNGD Calmar Ratio Rank: 22
Calmar Ratio Rank
FNGD Martin Ratio Rank: 11
Martin Ratio Rank
IUSG
IUSG Risk / Return Rank: 5050
Overall Rank
IUSG Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
IUSG Sortino Ratio Rank: 5050
Sortino Ratio Rank
IUSG Omega Ratio Rank: 4848
Omega Ratio Rank
IUSG Calmar Ratio Rank: 4848
Calmar Ratio Rank
IUSG Martin Ratio Rank: 5454
Martin Ratio Rank
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. IUSG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and iShares Core S&P U.S. Growth ETF (IUSG). 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.

FNGDIUSGDifference
Sharpe ratioReturn per unit of total volatility
-0.85
1.45

-2.29

Sortino ratioReturn per unit of downside risk
-1.24
2.04

-3.28

Omega ratioGain probability vs. loss probability

0.86

1.25

-0.39

Calmar ratioReturn relative to maximum drawdown

-0.84

1.97

-2.81

Martin ratioReturn relative to average drawdown

-1.62

7.31

-8.93

FNGD vs. IUSG - Sharpe Ratio Comparison

The current FNGD Sharpe Ratio is -0.85, which is lower than the IUSG Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of FNGD and IUSG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FNGD vs. IUSG - Drawdown Comparison

The maximum FNGD drawdown since its inception was -100.00%, which is greater than IUSG's maximum drawdown of -63.41%. Use the drawdown chart below to compare losses from any high point for FNGD and IUSG.

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Drawdown Indicators

FNGDIUSGDifference

Max Drawdown

Largest peak-to-trough decline

-100.00%

-63.41%

-36.59%

Max Drawdown (1Y)

Largest decline over 1 year

-68.11%

-13.07%

-55.04%

Max Drawdown (3Y)

Largest decline over 3 years

-97.52%

-22.28%

-75.24%

Max Drawdown (5Y)

Largest decline over 5 years

-99.69%

-32.21%

-67.48%

Max Drawdown (10Y)

Largest decline over 10 years

—

-32.35%

—

Current Drawdown

Current decline from peak

-100.00%

-0.18%

-99.82%

Average Drawdown

Average peak-to-trough decline

-87.48%

-21.32%

-66.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

35.53%

3.52%

+32.01%

Volatility

FNGD vs. IUSG - Volatility Comparison

MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) has a higher volatility of 24.18% compared to iShares Core S&P U.S. Growth ETF (IUSG) at 6.48%. This indicates that FNGD's price experiences larger fluctuations and is considered to be riskier than IUSG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FNGDIUSGDifference

Volatility (1M)

Calculated over the trailing 1-month period

24.18%

6.48%

+17.70%

Volatility (6M)

Calculated over the trailing 6-month period

56.69%

14.76%

+41.93%

Volatility (1Y)

Calculated over the trailing 1-year period

67.93%

17.85%

+50.08%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

90.06%

21.24%

+68.82%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

91.04%

20.56%

+70.48%

FNGD vs. IUSG - Expense Ratio Comparison

FNGD has a 0.95% expense ratio, which is higher than IUSG's 0.04% expense ratio.

Dividends

FNGD vs. IUSG - Dividend Comparison

FNGD has not paid dividends to shareholders, while IUSG's dividend yield for the trailing twelve months is around 0.48%.

PositionTTM20252024202320222021202020192018201720162015
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%
IUSG
iShares Core S&P U.S. Growth ETF		0.48%0.53%0.59%1.12%1.07%0.59%0.93%1.64%1.32%1.28%1.48%1.29%

Frequently Asked Questions

FNGD and IUSG have a correlation of -0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FNGD has higher volatility (24.18%) compared to IUSG (6.48%). In terms of maximum drawdown, FNGD dropped -100.00% vs IUSG's -63.41%.

On 5-year performance, IUSG leads with 13.72% vs -64.59% for FNGD. On fees, IUSG is cheaper at 0.04% per year. On volatility, IUSG has been the lower-risk option at 6.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, IUSG has performed better with a 13.72% return vs -64.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IUSG is cheaper with a 0.04% expense ratio, compared with 0.95% for FNGD.

IUSG has the higher dividend yield at 0.48%, compared with 0.00% for FNGD.

FNGD is categorized as Leveraged Equities, while IUSG is Large Cap Growth Equities. FNGD tracks NYSE FANG+ Index (Gross Total Return, -300% Daily), while IUSG tracks S&P 900 Growth Index. They also come from different issuers: BMO and iShares. Their fees differ too: 0.95% for FNGD and 0.04% for IUSG.

IUSG currently has the higher Sharpe Ratio (1.45 vs -0.85), 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.

Portfolio Optimizer

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