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FNGD vs. QQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FNGD vs. QQQ

Last updated Jun 24, 2026

FNGD (MicroSectors FANG+™ Index -3X Inverse Leveraged ETN) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - FNGD is a Leveraged Equities fund tracking the NYSE FANG+ Index (-300%), while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, FNGD returned -62.47%/yr vs 16.01%/yr for QQQ. At a correlation of -0.91, they often move in opposite directions. FNGD charges 0.95%/yr vs 0.18%/yr for QQQ.

Performance

FNGD vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and Invesco QQQ ETF (QQQ). 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 -27.13% return, which is significantly lower than QQQ's 16.45% return.

FNGD

1D
7.44%
1M
2.40%
YTD
-27.13%
6M
-23.35%
1Y
-49.41%
3Y*
-65.49%
5Y*
-62.47%
10Y*
—

QQQ

1D
-3.29%
1M
-0.43%
YTD
16.45%
6M
14.99%
1Y
34.88%
3Y*
26.05%
5Y*
16.01%
10Y*
22.07%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FNGD vs. QQQ - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
FNGD
MicroSectors FANG+™ Index -3X Inverse Leveraged ETN		-27.13%-61.42%-76.57%-90.14%52.21%-60.04%-95.60%-72.46%-16.61%
QQQ
Invesco QQQ ETF		16.45%20.77%25.58%54.86%-32.58%27.42%48.62%38.96%-7.47%

Correlation

The correlation between FNGD and QQQ is -0.89, 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

-0.89

Correlation (3Y)
Calculated over the trailing 3-year period

-0.92

Correlation (5Y)
Calculated over the trailing 5-year period

-0.92

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

-0.91

The correlation between FNGD and QQQ has been stable across timeframes, ranging from -0.92 to -0.89 - a consistent structural relationship.

FNGD vs. QQQ - Sectors Allocation Comparison

Sectors
FNGD
QQQ

Technology

63.4%
58.7%

Communication Services

26.0%
14.3%

Consumer Cyclical

10.6%
11.4%

Financial Services

10.0%
0.2%

Basic Materials

-

1.0%

Consumer Defensive

-

6.4%

Energy

-

0.5%

Healthcare

-

3.7%

Industrials

-

2.6%

Real Estate

-

0.1%

Utilities

-

1.2%

Technology

FNGD
63.4%
QQQ
58.7%

Communication Services

FNGD
26.0%
QQQ
14.3%

Consumer Cyclical

FNGD
10.6%
QQQ
11.4%

Financial Services

FNGD
10.0%
QQQ
0.2%

Basic Materials

FNGD

-

QQQ
1.0%

Consumer Defensive

FNGD

-

QQQ
6.4%

Energy

FNGD

-

QQQ
0.5%

Healthcare

FNGD

-

QQQ
3.7%

Industrials

FNGD

-

QQQ
2.6%

Real Estate

FNGD

-

QQQ
0.1%

Utilities

FNGD

-

QQQ
1.2%

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

Invesco QQQ ETF

Often compared with FNGD:
FNGD vs. FNGUFNGD vs. SPYFNGD vs. SOXSFNGD vs. BERZFNGD vs. SQQQFNGD vs. GLLFNGD vs. TECS
Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. SPMO

Return for Risk

FNGD vs. QQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FNGD
FNGD Risk / Return Rank: 33
Overall Rank
FNGD Sharpe Ratio Rank: 33
Sharpe Ratio Rank
FNGD Sortino Ratio Rank: 33
Sortino Ratio Rank
FNGD Omega Ratio Rank: 33
Omega Ratio Rank
FNGD Calmar Ratio Rank: 33
Calmar Ratio Rank
FNGD Martin Ratio Rank: 11
Martin Ratio Rank
QQQ
QQQ Risk / Return Rank: 5959
Overall Rank
QQQ Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 5555
Sortino Ratio Rank
QQQ Omega Ratio Rank: 5858
Omega Ratio Rank
QQQ Calmar Ratio Rank: 6161
Calmar Ratio Rank
QQQ Martin Ratio Rank: 6262
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FNGD vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and Invesco QQQ ETF (QQQ). 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.

FNGDQQQDifference
Sharpe ratioReturn per unit of total volatility
-0.76
1.95

-2.71

Sortino ratioReturn per unit of downside risk
-1.00
2.57

-3.56

Omega ratioGain probability vs. loss probability

0.89

1.35

-0.46

Calmar ratioReturn relative to maximum drawdown

-0.75

2.93

-3.68

Martin ratioReturn relative to average drawdown

-1.52

10.86

-12.38

FNGD vs. QQQ - Sharpe Ratio Comparison

The current FNGD Sharpe Ratio is -0.76, which is lower than the QQQ Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of FNGD and QQQ, 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. QQQ - Drawdown Comparison

The maximum FNGD drawdown since its inception was -100.00%, which is greater than QQQ's maximum drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for FNGD and QQQ.

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Drawdown Indicators

FNGDQQQDifference

Max Drawdown

Largest peak-to-trough decline

-100.00%

-82.97%

-17.03%

Max Drawdown (1Y)

Largest decline over 1 year

-65.92%

-11.96%

-53.96%

Max Drawdown (3Y)

Largest decline over 3 years

-97.35%

-22.77%

-74.58%

Max Drawdown (5Y)

Largest decline over 5 years

-99.67%

-35.12%

-64.55%

Max Drawdown (10Y)

Largest decline over 10 years

—

-35.12%

—

Current Drawdown

Current decline from peak

-100.00%

-4.25%

-95.75%

Average Drawdown

Average peak-to-trough decline

-87.30%

-32.73%

-54.57%

Ulcer Index

Depth and duration of drawdowns from previous peaks

34.15%

3.22%

+30.93%

Volatility

FNGD vs. QQQ - Volatility Comparison

MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) has a higher volatility of 33.07% compared to Invesco QQQ ETF (QQQ) at 9.17%. This indicates that FNGD's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FNGDQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

33.07%

9.17%

+23.90%

Volatility (6M)

Calculated over the trailing 6-month period

53.22%

14.57%

+38.65%

Volatility (1Y)

Calculated over the trailing 1-year period

65.50%

17.96%

+47.54%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

89.67%

22.69%

+66.98%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

91.30%

22.42%

+68.88%

FNGD vs. QQQ - Expense Ratio Comparison

FNGD has a 0.95% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

FNGD vs. QQQ - Dividend Comparison

FNGD has not paid dividends to shareholders, while QQQ's dividend yield for the trailing twelve months is around 0.43%.

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%
QQQ
Invesco QQQ ETF		0.43%0.45%0.56%0.62%0.80%0.43%0.55%0.74%0.91%0.84%1.06%0.99%

Frequently Asked Questions

FNGD and QQQ have a correlation of -0.89, 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 QQQ (9.17%). In terms of maximum drawdown, FNGD dropped -100.00% vs QQQ's -82.97%.

On 5-year performance, QQQ leads with 16.01% vs -62.47% for FNGD. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 9.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, QQQ has performed better with a 16.01% return vs -62.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QQQ is cheaper with a 0.18% expense ratio, compared with 0.95% for FNGD.

QQQ has the higher dividend yield at 0.43%, compared with 0.00% for FNGD.

FNGD is categorized as Leveraged Equities, while QQQ is Nasdaq-100. FNGD tracks NYSE FANG+ Index (-300%), while QQQ tracks NASDAQ-100 Index. They also come from different issuers: BMO and Invesco. Their fees differ too: 0.95% for FNGD and 0.18% for QQQ.

QQQ currently has the higher Sharpe Ratio (1.95 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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