FNGD vs. PHYL
FNGD (MicroSectors FANG+™ Index -3X Inverse Leveraged ETN) and PHYL (PGIM Active High Yield Bond ETF) are both exchange-traded funds - FNGD is a Leveraged Equities fund tracking the NYSE FANG+ Index (-300%), while PHYL is a High Yield Bonds fund actively managed by Prudential. FNGD is passively managed, while PHYL is actively managed. Over the past 5 years, FNGD returned -62.47%/yr vs 4.00%/yr for PHYL. At a correlation of -0.52, they often move in opposite directions. FNGD charges 0.95%/yr vs 0.53%/yr for PHYL.
Performance
FNGD vs. PHYL - Performance Comparison
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Returns By Period
In the year-to-date period, FNGD achieves a -27.13% return, which is significantly lower than PHYL's 1.60% return.
FNGD
- 1D
- 7.44%
- 1M
- 2.40%
- YTD
- -27.13%
- 6M
- -23.35%
- 1Y
- -49.41%
- 3Y*
- -65.49%
- 5Y*
- -62.47%
- 10Y*
- —
PHYL
- 1D
- -0.01%
- 1M
- 0.35%
- YTD
- 1.60%
- 6M
- 1.84%
- 1Y
- 6.59%
- 3Y*
- 9.30%
- 5Y*
- 4.00%
- 10Y*
- —
FNGD vs. PHYL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN | -27.13% | -61.42% | -76.57% | -90.14% | 52.21% | -60.04% | -95.60% | -72.46% | 55.02% |
PHYL PGIM Active High Yield Bond ETF | 1.60% | 9.65% | 8.45% | 11.91% | -11.80% | 6.20% | 6.31% | 16.77% | -4.17% |
Correlation
The correlation between FNGD and PHYL is -0.52, 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 (1Y) Calculated over the trailing 1-year period | -0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.51 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2018 | -0.52 |
The correlation between FNGD and PHYL has been stable across timeframes, ranging from -0.52 to -0.48 - a consistent structural relationship.
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Return for Risk
FNGD vs. PHYL — Risk / Return Rank
FNGD
PHYL
FNGD vs. PHYL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and PGIM Active High Yield Bond ETF (PHYL). 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 | PHYL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.74 | ||
| Sortino ratioReturn per unit of downside risk | -3.93 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.40 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | 2.47 | -3.22 |
| Martin ratioReturn relative to average drawdown | -1.52 | 11.23 | -12.75 |
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Drawdowns
FNGD vs. PHYL - Drawdown Comparison
The maximum FNGD drawdown since its inception was -100.00%, which is greater than PHYL's maximum drawdown of -22.07%. Use the drawdown chart below to compare losses from any high point for FNGD and PHYL.
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Drawdown Indicators
| FNGD | PHYL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -22.07% | -77.93% |
Max Drawdown (1Y)Largest decline over 1 year | -65.92% | -2.68% | -63.24% |
Max Drawdown (3Y)Largest decline over 3 years | -97.35% | -4.53% | -92.82% |
Max Drawdown (5Y)Largest decline over 5 years | -99.67% | -16.11% | -83.56% |
Current DrawdownCurrent decline from peak | -100.00% | -0.30% | -99.70% |
Average DrawdownAverage peak-to-trough decline | -87.30% | -3.05% | -84.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.15% | 0.59% | +33.56% |
Volatility
FNGD vs. PHYL - Volatility Comparison
MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) has a higher volatility of 33.07% compared to PGIM Active High Yield Bond ETF (PHYL) at 1.06%. This indicates that FNGD's price experiences larger fluctuations and is considered to be riskier than PHYL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNGD | PHYL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 33.07% | 1.06% | +32.01% |
Volatility (6M)Calculated over the trailing 6-month period | 53.22% | 2.72% | +50.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.50% | 3.35% | +62.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 89.67% | 5.70% | +83.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 91.30% | 7.64% | +83.66% |
FNGD vs. PHYL - Expense Ratio Comparison
FNGD has a 0.95% expense ratio, which is higher than PHYL's 0.53% expense ratio.
Dividends
FNGD vs. PHYL - Dividend Comparison
FNGD has not paid dividends to shareholders, while PHYL's dividend yield for the trailing twelve months is around 6.99%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
PHYL PGIM Active High Yield Bond ETF | 6.99% | 7.05% | 8.28% | 7.62% | 6.55% | 6.13% | 7.51% | 7.31% | 1.79% |
Frequently Asked Questions
FNGD and PHYL have a correlation of -0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNGD has higher volatility (33.07%) compared to PHYL (1.06%). In terms of maximum drawdown, FNGD dropped -100.00% vs PHYL's -22.07%.
On 5-year performance, PHYL leads with 4.00% vs -62.47% for FNGD. On fees, PHYL is cheaper at 0.53% per year. On volatility, PHYL has been the lower-risk option at 1.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PHYL has performed better with a 4.00% return vs -62.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PHYL is cheaper with a 0.53% expense ratio, compared with 0.95% for FNGD.
PHYL has the higher dividend yield at 6.99%, compared with 0.00% for FNGD.
FNGD is categorized as Leveraged Equities, while PHYL is High Yield Bonds. They also come from different issuers: BMO and Prudential. Their fees differ too: 0.95% for FNGD and 0.53% for PHYL.
PHYL currently has the higher Sharpe Ratio (1.98 vs -0.76), 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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