FNGD vs. QTJL
FNGD (MicroSectors FANG+™ Index -3X Inverse Leveraged ETN) and QTJL (Innovator Growth Accelerated Plus ETF - July) are both Leveraged Equities funds. FNGD is passively managed, while QTJL is actively managed. Over the past 5 years, FNGD returned -63.24%/yr vs 9.06%/yr for QTJL. Their -0.86 correlation means they have often moved in opposite directions in the past. FNGD charges 0.95%/yr vs 0.79%/yr for QTJL.
Performance
FNGD vs. QTJL - 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 QTJL's 2.56% 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%
QTJL
- 1D
- 0.93%
- 1M
- -1.97%
- 6M
- 1.77%
- YTD
- 2.56%
- 1Y
- 11.97%
- 3Y*
- 15.99%
- 5Y*
- 9.06%
- 10Y*
- —
- ALL TIME*
- 9.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $13.50M | $14.88M | $20.27M | |
| $200.88K | $354.66K | $247.25K |
FNGD vs. QTJL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN | -34.80% | -61.42% | -76.57% | -90.14% | 52.21% | -20.41% |
QTJL Innovator Growth Accelerated Plus ETF - July | 2.56% | 21.07% | 16.50% | 42.39% | -30.16% | 9.36% |
Correlation
The correlation between FNGD and QTJL is -0.76, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.76 |
Correlation (3Y) Balances recent behavior with more history. | -0.83 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.86 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021 | -0.86 |
The correlation between FNGD and QTJL has been stable across timeframes, ranging from -0.86 to -0.76 - a consistent structural relationship.
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Return for Risk
FNGD vs. QTJL — Risk / Return Rank
FNGD
QTJL
FNGD vs. QTJL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and Innovator Growth Accelerated Plus ETF - July (QTJL). 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 | QTJL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.56 | ||
| Sortino ratioReturn per unit of downside risk | -2.09 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.18 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | 1.23 | -1.91 |
| Martin ratioReturn relative to average drawdown | -1.26 | 6.04 | -7.30 |
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Drawdowns
FNGD vs. QTJL - Drawdown Comparison
The maximum FNGD drawdown since its inception was -100.00%, which is greater than QTJL's maximum drawdown of -33.40%. Use the drawdown chart below to compare losses from any high point for FNGD and QTJL.
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Drawdown Indicators
| FNGD | QTJL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -33.40% | -66.60% |
Max Drawdown (1Y)Largest decline over 1 year | -65.92% | -8.48% | -57.44% |
Max Drawdown (3Y)Largest decline over 3 years | -97.35% | -22.43% | -74.92% |
Max Drawdown (5Y)Largest decline over 5 years | -99.67% | -33.40% | -66.27% |
Current DrawdownCurrent decline from peak | -100.00% | -4.62% | -95.38% |
Average DrawdownAverage peak-to-trough decline | -87.46% | -7.74% | -79.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.26% | 1.73% | +33.53% |
Volatility
FNGD vs. QTJL - Volatility Comparison
MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) has a higher volatility of 18.15% compared to Innovator Growth Accelerated Plus ETF - July (QTJL) at 6.45%. This indicates that FNGD's price experiences larger fluctuations and is considered to be riskier than QTJL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNGD | QTJL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.15% | 6.45% | +11.70% |
Volatility (6M)Calculated over the trailing 6-month period | 54.65% | 9.63% | +45.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 66.81% | 11.72% | +55.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 89.78% | 20.43% | +69.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 90.95% | 20.30% | +70.65% |
FNGD vs. QTJL - Expense Ratio Comparison
FNGD has a 0.95% expense ratio, which is higher than QTJL's 0.79% expense ratio.
Dividends
FNGD vs. QTJL - Dividend Comparison
Neither FNGD nor QTJL has paid dividends to shareholders.
Frequently Asked Questions
FNGD and QTJL have a correlation of -0.76, 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 QTJL (6.45%). In terms of maximum drawdown, FNGD dropped -100.00% vs QTJL's -33.40%.
On 5-year performance, QTJL leads with 9.06% vs -63.24% for FNGD. On fees, QTJL is cheaper at 0.79% per year. On volatility, QTJL has been the lower-risk option at 6.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, QTJL has performed better with a 9.06% return vs -63.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QTJL is cheaper with a 0.79% expense ratio, compared with 0.95% for FNGD.
FNGD and QTJL have nearly identical dividend yields, around 0.00%.
They also come from different issuers: BMO and Innovator. Their fees differ too: 0.95% for FNGD and 0.79% for QTJL.
QTJL currently has the higher Sharpe Ratio (0.89 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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