FNGD vs. SQQQ
Compare and contrast key facts about MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and ProShares UltraPro Short QQQ (SQQQ).
FNGD and SQQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FNGD is a passively managed fund by BMO Financial Group that tracks the performance of the NYSE FANG+ Index (-300%). It was launched on Jan 22, 2018. SQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (-300%). It was launched on Feb 9, 2010. Both FNGD and SQQQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FNGD or SQQQ.
Key characteristics
| FNGD | SQQQ | |
|---|---|---|
| YTD Return | -72.26% | -50.54% |
| 1Y Return | -76.97% | -58.44% |
| 3Y Return (Ann) | -64.08% | -39.42% |
| 5Y Return (Ann) | -77.90% | -59.62% |
| Sharpe Ratio | -1.11 | -1.18 |
| Sortino Ratio | -2.44 | -2.13 |
| Omega Ratio | 0.73 | 0.77 |
| Calmar Ratio | -0.79 | -0.61 |
| Martin Ratio | -1.43 | -1.60 |
| Ulcer Index | 54.95% | 38.15% |
| Daily Std Dev | 71.00% | 51.93% |
| Max Drawdown | -99.98% | -100.00% |
| Current Drawdown | -99.98% | -100.00% |
Correlation
The correlation between FNGD and SQQQ is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
FNGD vs. SQQQ - Performance Comparison
In the year-to-date period, FNGD achieves a -72.26% return, which is significantly lower than SQQQ's -50.54% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FNGD vs. SQQQ - Expense Ratio Comparison
Both FNGD and SQQQ have an expense ratio of 0.95%.
Risk-Adjusted Performance
FNGD vs. SQQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and ProShares UltraPro Short QQQ (SQQQ). 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.
Dividends
FNGD vs. SQQQ - Dividend Comparison
FNGD has not paid dividends to shareholders, while SQQQ's dividend yield for the trailing twelve months is around 9.95%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SQQQ ProShares UltraPro Short QQQ | 9.95% | 8.01% | 0.06% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
Drawdowns
FNGD vs. SQQQ - Drawdown Comparison
The maximum FNGD drawdown since its inception was -99.98%, roughly equal to the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for FNGD and SQQQ. For additional features, visit the drawdowns tool.
Volatility
FNGD vs. SQQQ - Volatility Comparison
MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) has a higher volatility of 17.57% compared to ProShares UltraPro Short QQQ (SQQQ) at 14.74%. This indicates that FNGD's price experiences larger fluctuations and is considered to be riskier than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.