FNGD vs. KORU

Last updated Aug 3, 2026

FNGD (MicroSectors FANG+™ Index -3X Inverse Leveraged ETN) and KORU (Direxion Daily MSCI South Korea Bull 3X Shares) are both exchange-traded funds - FNGD is a Leveraged Equities fund tracking the NYSE FANG+ Index (Gross Total Return, -300% Daily), while KORU is a South Korea Equities fund tracking the MSCI Korea 25/50 Index. Both are passively managed. Over the past 5 years, FNGD returned -63.24%/yr vs -3.04%/yr for KORU. Their -0.55 correlation means they have often moved in opposite directions in the past. FNGD charges 0.95%/yr vs 1.32%/yr for KORU.

Performance

FNGD vs. KORU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and Direxion Daily MSCI South Korea Bull 3X Shares (KORU). 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 KORU's 65.13% 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%

KORU

• 1D: -7.92%
• 1M: -44.63%
• 6M: -13.80%
• YTD: 65.13%
• 1Y: 302.72%
• 3Y*: 42.96%
• 5Y*: -3.04%
• 10Y*: 2.30%
• ALL TIME*: -1.22%

*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)
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN	$13.50M	$14.88M	$20.27M
KORU Direxion Daily MSCI South Korea Bull 3X Shares	$685.69M	$790.89M	$775.54M

FNGD vs. KORU - 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%
KORU Direxion Daily MSCI South Korea Bull 3X Shares	65.13%	432.73%	-62.18%	28.61%	-70.16%	-33.86%	48.78%	5.47%	-62.65%

Correlation

The correlation between FNGD and KORU is -0.56, 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.	-0.56
Correlation (3Y) Balances recent behavior with more history.	-0.52
Correlation (5Y) Shows whether the relationship held over a longer period.	-0.55
Correlation (All Time) Calculated using the full available price history since Jan 23, 2018	-0.55

The correlation between FNGD and KORU has been stable across timeframes, ranging from -0.56 to -0.52 - a consistent structural relationship.

FNGD vs. KORU - Sectors Allocation Comparison

Sectors	FNGD	KORU
Technology	59.6%	61.3%
Communication Services	30.0%	2.6%
Consumer Cyclical	10.4%	4.7%
Financial Services	10.0%	8.8%
Basic Materials	-	1.2%
Consumer Defensive	-	1.7%
Energy	-	1.0%
Healthcare	-	3.1%
Industrials	-	15.4%
Real Estate	-	-
Utilities	-	0.3%

Return for Risk

FNGD vs. KORU — 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

KORU

KORU Risk / Return Rank: 78
KORU Sharpe Ratio Rank: 74
KORU Sortino Ratio Rank: 77
KORU Omega Ratio Rank: 80
KORU Calmar Ratio Rank: 86
KORU Martin Ratio Rank: 74

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. KORU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and Direxion Daily MSCI South Korea Bull 3X Shares (KORU). 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	KORU	Difference
Sharpe ratio: Return per unit of total volatility	-0.67	1.68	-2.35
Sortino ratio: Return per unit of downside risk	-0.76	2.44	-3.21
Omega ratio: Gain probability vs. loss probability	0.91	1.34	-0.42
Calmar ratio: Return relative to maximum drawdown	-0.68	3.32	-4.00
Martin ratio: Return relative to average drawdown	-1.26	9.21	-10.47

FNGD vs. KORU - Sharpe Ratio Comparison

The current FNGD Sharpe Ratio is -0.67, which is lower than the KORU Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of FNGD and KORU, 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. KORU - Drawdown Comparison

The maximum FNGD drawdown since its inception was -100.00%, roughly equal to the maximum KORU drawdown of -95.79%. Use the drawdown chart below to compare losses from any high point for FNGD and KORU.

Drawdown Indicators

	FNGD	KORU	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-95.79%	-4.21%
Max Drawdown (1Y) Largest decline over 1 year	-65.92%	-80.90%	+14.98%
Max Drawdown (3Y) Largest decline over 3 years	-97.35%	-80.90%	-16.45%
Max Drawdown (5Y) Largest decline over 5 years	-99.67%	-92.74%	-6.93%
Max Drawdown (10Y) Largest decline over 10 years	—	-95.79%	—
Current Drawdown Current decline from peak	-100.00%	-76.30%	-23.70%
Average Drawdown Average peak-to-trough decline	-87.46%	-57.44%	-30.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.26%	29.12%	+6.14%

Volatility

FNGD vs. KORU - Volatility Comparison

The current volatility for MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) is 18.15%, while Direxion Daily MSCI South Korea Bull 3X Shares (KORU) has a volatility of 64.87%. This indicates that FNGD experiences smaller price fluctuations and is considered to be less risky than KORU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNGD	KORU	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.15%	64.87%	-46.72%
Volatility (6M) Calculated over the trailing 6-month period	54.65%	154.02%	-99.37%
Volatility (1Y) Calculated over the trailing 1-year period	66.81%	159.66%	-92.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.78%	96.56%	-6.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	90.95%	85.82%	+5.13%

FNGD vs. KORU - Expense Ratio Comparison

FNGD has a 0.95% expense ratio, which is lower than KORU's 1.32% expense ratio.

Dividends

FNGD vs. KORU - Dividend Comparison

FNGD has not paid dividends to shareholders, while KORU's dividend yield for the trailing twelve months is around 0.53%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
KORU Direxion Daily MSCI South Korea Bull 3X Shares	0.53%	0.89%	4.10%	2.55%	0.48%	0.76%	0.01%	0.93%	1.40%	3.59%

Frequently Asked Questions

Can I hold both FNGD and KORU in my portfolio?

FNGD and KORU have a correlation of -0.56, 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 KORU?

KORU has higher volatility (64.87%) compared to FNGD (18.15%). In terms of maximum drawdown, FNGD dropped -100.00% vs KORU's -95.79%.

Which ETF is better, FNGD or KORU?

On 5-year performance, KORU leads with -3.04% vs -63.24% for FNGD. On fees, FNGD is cheaper at 0.95% 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.

Which ETF has performed better, FNGD or KORU?

Over the 5-year period, KORU has performed better with a -3.04% return vs -63.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNGD or KORU?

FNGD is cheaper with a 0.95% expense ratio, compared with 1.32% for KORU.

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

KORU has the higher dividend yield at 0.53%, compared with 0.00% for FNGD.

What is the main difference between FNGD and KORU?

FNGD is categorized as Leveraged Equities, while KORU is South Korea Equities. FNGD tracks NYSE FANG+ Index (Gross Total Return, -300% Daily), while KORU tracks MSCI Korea 25/50 Index. They also come from different issuers: BMO and Direxion. Their fees differ too: 0.95% for FNGD and 1.32% for KORU.

Which has better risk-adjusted returns?

KORU currently has the higher Sharpe Ratio (1.68 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.