FNGD vs. QQQD

Last updated Jun 24, 2026

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 (-300%), while QQQD is a Inverse Equities fund tracking the Indxx Magnificent 7 Index (-100%). Both are passively managed. Over the past year, FNGD returned -49.41% vs -14.61% for QQQD. Their correlation of 0.87 suggests significant overlap in exposure. FNGD charges 0.95%/yr vs 0.57%/yr for QQQD.

Performance

FNGD vs. QQQD - 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 Magnificent 7 Bear 1X Shares (QQQD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNGD achieves a -27.13% return, which is significantly lower than QQQD's 4.24% return.

FNGD

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

QQQD

• 1D: 0.67%
• 1M: 9.00%
• YTD: 4.24%
• 6M: 6.32%
• 1Y: -14.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FNGD vs. QQQD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN	-27.13%	-61.42%	-65.42%
QQQD Direxion Daily Magnificent 7 Bear 1X Shares	4.24%	-20.32%	-27.75%

Correlation

The correlation between FNGD and QQQD is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
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 0.82 to 0.87 - a consistent structural relationship.

Return for Risk

FNGD vs. QQQD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FNGD

FNGD Risk / Return Rank: 3
FNGD Sharpe Ratio Rank: 3
FNGD Sortino Ratio Rank: 3
FNGD Omega Ratio Rank: 3
FNGD Calmar Ratio Rank: 3
FNGD Martin Ratio Rank: 1

QQQD

QQQD Risk / Return Rank: 4
QQQD Sharpe Ratio Rank: 3
QQQD Sortino Ratio Rank: 3
QQQD Omega Ratio Rank: 4
QQQD Calmar Ratio Rank: 4
QQQD Martin Ratio Rank: 4

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. 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 ratio: Return per unit of total volatility	-0.76	-0.71	-0.05
Sortino ratio: Return per unit of downside risk	-1.00	-0.94	-0.06
Omega ratio: Gain probability vs. loss probability	0.89	0.90	-0.01
Calmar ratio: Return relative to maximum drawdown	-0.75	-0.64	-0.11
Martin ratio: Return relative to average drawdown	-1.52	-1.01	-0.51

FNGD vs. QQQD - Sharpe Ratio Comparison

The current FNGD Sharpe Ratio is -0.76, which is comparable to the QQQD Sharpe Ratio of -0.71. The chart below compares the historical Sharpe Ratios of FNGD and QQQD, 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. 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.

Drawdown Indicators

	FNGD	QQQD	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-49.47%	-50.53%
Max Drawdown (1Y) Largest decline over 1 year	-65.92%	-22.92%	-43.00%
Max Drawdown (3Y) Largest decline over 3 years	-97.35%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-99.67%	—	—
Current Drawdown Current decline from peak	-100.00%	-43.64%	-56.36%
Average Drawdown Average peak-to-trough decline	-87.30%	-30.63%	-56.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.15%	14.98%	+19.17%

Volatility

FNGD vs. QQQD - Volatility Comparison

MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) has a higher volatility of 33.07% compared to Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) at 7.17%. 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.

Volatility by Period

	FNGD	QQQD	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.07%	7.17%	+25.90%
Volatility (6M) Calculated over the trailing 6-month period	53.22%	15.65%	+37.57%
Volatility (1Y) Calculated over the trailing 1-year period	65.50%	20.89%	+44.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.67%	26.85%	+62.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.30%	26.85%	+64.45%

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 3.79%.

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	3.79%	4.33%	5.17%

Frequently Asked Questions

Can I hold both FNGD and QQQD in my portfolio?

FNGD and QQQD have a correlation of 0.82, 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 QQQD?

FNGD has higher volatility (33.07%) compared to QQQD (7.17%). In terms of maximum drawdown, FNGD dropped -100.00% vs QQQD's -49.47%.

Which ETF is better, FNGD or QQQD?

On 1-year performance, QQQD leads with -14.61% vs -49.41% for FNGD. On fees, QQQD is cheaper at 0.57% per year. On volatility, QQQD has been the lower-risk option at 7.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNGD or QQQD?

Over the 1-year period, QQQD has performed better with a -14.61% return vs -49.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNGD or QQQD?

QQQD is cheaper with a 0.57% expense ratio, compared with 0.95% for FNGD.

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

QQQD has the higher dividend yield at 3.79%, compared with 0.00% for FNGD.

What is the main difference between FNGD and QQQD?

FNGD is categorized as Leveraged Equities, while QQQD is Inverse Equities. FNGD tracks NYSE FANG+ Index (-300%), 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.

Which has better risk-adjusted returns?

QQQD currently has the higher Sharpe Ratio (-0.71 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.