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 -63.34%/yr vs 3.96%/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 -37.89% return, which is significantly lower than PHYL's 1.82% return.
FNGD
- 1D
- -3.62%
- 1M
- -14.68%
- 6M
- -37.54%
- YTD
- -37.89%
- 1Y
- -50.48%
- 3Y*
- -65.61%
- 5Y*
- -63.34%
- 10Y*
- —
PHYL
- 1D
- 0.26%
- 1M
- 0.13%
- 6M
- 1.25%
- YTD
- 1.82%
- 1Y
- 6.07%
- 3Y*
- 8.65%
- 5Y*
- 3.96%
- 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 | -37.89% | -61.42% | -76.57% | -90.14% | 52.21% | -60.04% | -95.60% | -72.46% | 55.02% |
PHYL PGIM Active High Yield Bond ETF | 1.82% | 9.65% | 8.45% | 11.91% | -11.80% | 6.20% | 6.31% | 16.77% | -4.17% |
Correlation
The correlation between FNGD and PHYL is -0.50, 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 | -0.50 |
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 | -2.60 | ||
| Sortino ratioReturn per unit of downside risk | -3.74 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.36 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | 2.28 | -3.04 |
| Martin ratioReturn relative to average drawdown | -1.55 | 10.35 | -11.89 |
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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% | -0.36% | -99.64% |
Average DrawdownAverage peak-to-trough decline | -87.38% | -3.02% | -84.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.67% | 0.59% | +32.08% |
Volatility
FNGD vs. PHYL - Volatility Comparison
MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) has a higher volatility of 24.40% compared to PGIM Active High Yield Bond ETF (PHYL) at 0.85%. 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 | 24.40% | 0.85% | +23.55% |
Volatility (6M)Calculated over the trailing 6-month period | 53.51% | 2.77% | +50.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.18% | 3.34% | +61.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 89.66% | 5.70% | +83.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 91.06% | 7.61% | +83.45% |
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 6.96%.
| 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 | 6.96% | 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 -0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNGD has higher volatility (24.40%) compared to PHYL (0.85%). In terms of maximum drawdown, FNGD dropped -100.00% vs PHYL's -22.07%.
On 5-year performance, PHYL leads with 3.96% vs -63.34% for FNGD. On fees, PHYL is cheaper at 0.53% per year. On volatility, PHYL has been the lower-risk option at 0.85%. 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 3.96% return vs -63.34%. 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 6.96%, 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 (1.82 vs -0.78), 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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