FNGD vs. QQQD
FNGD (MicroSectors FANG+™ Index -3X Inverse Leveraged ETN) and QQQD (Direxion Daily Magnificent 7 Bear 1X Shares) are both exchange-traded funds - FNGD is a Leveraged Equities fund tracking the NYSE FANG+ Index (Gross Total Return, -300% Daily), while QQQD is a Inverse Equities fund tracking the Indxx Magnificent 7 Index (-100%). Both are passively managed. Over the past year, FNGD returned -48.33% vs -14.09% for QQQD. Their correlation of 0.87 means they have usually moved in the same direction. FNGD charges 0.95%/yr vs 0.57%/yr for QQQD.
Performance
FNGD vs. QQQD - Performance Comparison
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Returns By Period
In the year-to-date period, FNGD achieves a -34.80% return, which is significantly lower than QQQD's 0.46% 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%
QQQD
- 1D
- -3.23%
- 1M
- -1.45%
- 6M
- 0.57%
- YTD
- 0.46%
- 1Y
- -14.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -20.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $13.50M | $14.88M | $20.27M | |
| $1.12M | $1.26M | $1.70M |
FNGD vs. QQQD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN | -34.80% | -61.42% | -65.42% |
QQQD Direxion Daily Magnificent 7 Bear 1X Shares | 0.46% | -20.32% | -27.75% |
Correlation
The correlation between FNGD and QQQD is 0.84, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024 | 0.87 |
The correlation between FNGD and QQQD has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.
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Return for Risk
FNGD vs. QQQD — Risk / Return Rank
FNGD
QQQD
FNGD vs. QQQD - 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 Magnificent 7 Bear 1X Shares (QQQD). 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 | QQQD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 0.93 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | -0.51 | -0.16 |
| Martin ratioReturn relative to average drawdown | -1.26 | -0.85 | -0.41 |
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Drawdowns
FNGD vs. QQQD - Drawdown Comparison
The maximum FNGD drawdown since its inception was -100.00%, which is greater than QQQD's maximum drawdown of -49.47%. Use the drawdown chart below to compare losses from any high point for FNGD and QQQD.
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Drawdown Indicators
| FNGD | QQQD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -49.47% | -50.53% |
Max Drawdown (1Y)Largest decline over 1 year | -65.92% | -21.94% | -43.98% |
Max Drawdown (3Y)Largest decline over 3 years | -97.35% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -99.67% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -45.68% | -54.32% |
Average DrawdownAverage peak-to-trough decline | -87.46% | -31.27% | -56.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.26% | 13.19% | +22.07% |
Volatility
FNGD vs. QQQD - Volatility Comparison
MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) has a higher volatility of 18.15% compared to Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) at 8.15%. This indicates that FNGD's price experiences larger fluctuations and is considered to be riskier than QQQD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNGD | QQQD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.15% | 8.15% | +10.00% |
Volatility (6M)Calculated over the trailing 6-month period | 54.65% | 17.57% | +37.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 66.81% | 22.50% | +44.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 89.78% | 26.94% | +62.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 90.95% | 26.94% | +64.01% |
FNGD vs. QQQD - Expense Ratio Comparison
FNGD has a 0.95% expense ratio, which is higher than QQQD's 0.57% expense ratio.
Dividends
FNGD vs. QQQD - Dividend Comparison
FNGD has not paid dividends to shareholders, while QQQD's dividend yield for the trailing twelve months is around 3.06%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN | 0.00% | 0.00% | 0.00% |
QQQD Direxion Daily Magnificent 7 Bear 1X Shares | 3.06% | 4.33% | 5.17% |
Frequently Asked Questions
FNGD and QQQD have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNGD has higher volatility (18.15%) compared to QQQD (8.15%). In terms of maximum drawdown, FNGD dropped -100.00% vs QQQD's -49.47%.
On 1-year performance, QQQD leads with -14.09% vs -48.33% for FNGD. On fees, QQQD is cheaper at 0.57% per year. On volatility, QQQD has been the lower-risk option at 8.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, QQQD has performed better with a -14.09% return vs -48.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQD is cheaper with a 0.57% expense ratio, compared with 0.95% for FNGD.
QQQD has the higher dividend yield at 3.06%, compared with 0.00% for FNGD.
FNGD is categorized as Leveraged Equities, while QQQD is Inverse Equities. FNGD tracks NYSE FANG+ Index (Gross Total Return, -300% Daily), while QQQD tracks Indxx Magnificent 7 Index (-100%). They also come from different issuers: BMO and Direxion. Their fees differ too: 0.95% for FNGD and 0.57% for QQQD.
QQQD currently has the higher Sharpe Ratio (-0.50 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.
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