FNGD vs. SHNY
FNGD (MicroSectors FANG+™ Index -3X Inverse Leveraged ETN) and SHNY (MicroSectors Gold 3X Leveraged ETN) are both exchange-traded funds - FNGD is a Leveraged Equities fund tracking the NYSE FANG+ Index (Gross Total Return, -300% Daily), while SHNY is a Leveraged Commodities fund tracking the SPDR Gold Shares ETF (GLD). Both are passively managed. Over the past 3 years, FNGD returned -64.85%/yr vs 44.79%/yr for SHNY. Their -0.09 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.
Performance
FNGD vs. SHNY - Performance Comparison
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Returns By Period
In the year-to-date period, FNGD achieves a -34.80% return, which is significantly higher than SHNY's -39.40% 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%
SHNY
- 1D
- -4.58%
- 1M
- -7.48%
- 6M
- -54.00%
- YTD
- -39.40%
- 1Y
- 10.61%
- 3Y*
- 44.79%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 40.02%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $13.50M | $14.88M | $20.27M | |
| $5.61M | $4.51M | $6.08M |
FNGD vs. SHNY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN | -34.80% | -61.42% | -76.57% | -80.12% |
SHNY MicroSectors Gold 3X Leveraged ETN | -39.40% | 214.54% | 50.30% | 10.98% |
Correlation
The correlation between FNGD and SHNY is -0.24, 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. | -0.24 |
Correlation (3Y) Balances recent behavior with more history. | -0.11 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2023 | -0.09 |
The correlation between FNGD and SHNY shifts across timeframes, from -0.24 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FNGD vs. SHNY — Risk / Return Rank
FNGD
SHNY
FNGD vs. SHNY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and MicroSectors Gold 3X Leveraged ETN (SHNY). 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 | SHNY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -1.59 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.12 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | 0.25 | -0.92 |
| Martin ratioReturn relative to average drawdown | -1.26 | 0.47 | -1.74 |
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Drawdowns
FNGD vs. SHNY - Drawdown Comparison
The maximum FNGD drawdown since its inception was -100.00%, which is greater than SHNY's maximum drawdown of -69.36%. Use the drawdown chart below to compare losses from any high point for FNGD and SHNY.
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Drawdown Indicators
| FNGD | SHNY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -69.36% | -30.64% |
Max Drawdown (1Y)Largest decline over 1 year | -65.92% | -69.36% | +3.44% |
Max Drawdown (3Y)Largest decline over 3 years | -97.35% | -69.36% | -27.99% |
Max Drawdown (5Y)Largest decline over 5 years | -99.67% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -68.12% | -31.88% |
Average DrawdownAverage peak-to-trough decline | -87.46% | -17.26% | -70.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.26% | 36.30% | -1.04% |
Volatility
FNGD vs. SHNY - Volatility Comparison
MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and MicroSectors Gold 3X Leveraged ETN (SHNY) have volatilities of 18.15% and 19.06%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNGD | SHNY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.15% | 19.06% | -0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 54.65% | 71.92% | -17.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 66.81% | 83.26% | -16.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 89.78% | 59.47% | +30.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 90.95% | 59.47% | +31.48% |
FNGD vs. SHNY - Expense Ratio Comparison
Both FNGD and SHNY have an expense ratio of 0.95%.
Dividends
FNGD vs. SHNY - Dividend Comparison
Neither FNGD nor SHNY has paid dividends to shareholders.
Frequently Asked Questions
FNGD and SHNY have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHNY has higher volatility (19.06%) compared to FNGD (18.15%). In terms of maximum drawdown, FNGD dropped -100.00% vs SHNY's -69.36%.
On 3-year performance, SHNY leads with 44.79% vs -64.85% for FNGD. Both ETFs have the same 0.95% expense ratio. On volatility, FNGD has been the lower-risk option at 18.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SHNY has performed better with a 44.79% return vs -64.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FNGD and SHNY have the same expense ratio: 0.95% per year.
FNGD and SHNY have nearly identical dividend yields, around 0.00%.
FNGD is categorized as Leveraged Equities, while SHNY is Leveraged Commodities. FNGD tracks NYSE FANG+ Index (Gross Total Return, -300% Daily), while SHNY tracks SPDR Gold Shares ETF (GLD).
SHNY currently has the higher Sharpe Ratio (0.21 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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