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 (-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 -60.64% vs -21.80% 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
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Returns By Period
In the year-to-date period, FNGD achieves a -41.82% return, which is significantly lower than QQQD's -2.89% return.
FNGD
- 1D
- 3.34%
- 1M
- -28.48%
- YTD
- -41.82%
- 6M
- -33.35%
- 1Y
- -60.64%
- 3Y*
- -69.29%
- 5Y*
- -65.57%
- 10Y*
- —
QQQD
- 1D
- 1.38%
- 1M
- -1.88%
- YTD
- -2.89%
- 6M
- -2.43%
- 1Y
- -21.80%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FNGD vs. QQQD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN | -41.82% | -61.42% | -62.58% |
QQQD Direxion Daily Magnificent 7 Bear 1X Shares | -2.89% | -20.32% | -27.69% |
Correlation
The correlation between FNGD and QQQD is 0.81, 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 | 0.81 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2024 | 0.87 |
The correlation between FNGD and QQQD has been stable across timeframes, ranging from 0.81 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.
| FNGD | QQQD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 0.83 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | -0.82 | -0.10 |
| Martin ratioReturn relative to average drawdown | -1.84 | -1.23 | -0.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FNGD | QQQD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.04 | -1.08 | +0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.74 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.78 | -0.86 | +0.08 |
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% | -26.65% | -39.27% |
Max Drawdown (3Y)Largest decline over 3 years | -97.37% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -99.67% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -47.50% | -52.50% |
Average DrawdownAverage peak-to-trough decline | -87.25% | -30.34% | -56.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.99% | 17.72% | +15.27% |
Volatility
FNGD vs. QQQD - Volatility Comparison
MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) has a higher volatility of 17.47% compared to Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) at 4.76%. 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 | 17.47% | 4.76% | +12.71% |
Volatility (6M)Calculated over the trailing 6-month period | 45.91% | 14.43% | +31.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.70% | 20.21% | +38.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 88.78% | 26.77% | +62.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 91.00% | 26.77% | +64.23% |
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 4.07%.
| 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 | 4.07% | 4.33% | 5.17% |
Frequently Asked Questions
FNGD and QQQD have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNGD has higher volatility (17.47%) compared to QQQD (4.76%). In terms of maximum drawdown, FNGD dropped -100.00% vs QQQD's -49.47%.
On 1-year performance, QQQD leads with -21.80% vs -60.64% for FNGD. On fees, QQQD is cheaper at 0.57% per year. On volatility, QQQD has been the lower-risk option at 4.76%. 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 -21.80% return vs -60.64%. 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 4.07%, compared with 0.00% for FNGD.
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.
FNGD currently has the higher Sharpe Ratio (-1.04 vs -1.08), 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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