FNGD vs. TERG

Last updated Apr 1, 2026

Compare and contrast key facts about MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and Leverage Shares 2X Long TER Daily ETF (TERG).

FNGD and TERG 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 that tracks the performance of the NYSE FANG+ Index (-300%). It was launched on Jan 22, 2018. TERG is an actively managed fund by Leverage Shares. It was launched on Nov 17, 2025.

Performance

FNGD vs. TERG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and Leverage Shares 2X Long TER Daily ETF (TERG). The values are adjusted to include any dividend payments, if applicable.

FNGD vs. TERG - Yearly Performance Comparison

	2026 (YTD)	2025
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN	40.23%	6.90%
TERG Leverage Shares 2X Long TER Daily ETF	102.79%	28.17%

Returns By Period

In the year-to-date period, FNGD achieves a 40.23% return, which is significantly lower than TERG's 102.79% return.

FNGD

• 1D: -13.84%
• 1M: 10.30%
• YTD: 40.23%
• 6M: 44.34%
• 1Y: -59.51%
• 3Y*: -65.85%
• 5Y*: -59.96%
• 10Y*: —

TERG

• 1D: 14.40%
• 1M: -19.76%
• YTD: 102.79%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FNGD vs. TERG - Expense Ratio Comparison

FNGD has a 0.95% expense ratio, which is higher than TERG's 0.75% expense ratio.

FNGD

MicroSectors FANG+™ Index -3X Inverse Leveraged ETN

TERG

Leverage Shares 2X Long TER Daily ETF

Return for Risk

FNGD vs. TERG — 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: 2
FNGD Sortino Ratio Rank: 2
FNGD Omega Ratio Rank: 2
FNGD Calmar Ratio Rank: 2
FNGD Martin Ratio Rank: 6

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. TERG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and Leverage Shares 2X Long TER Daily ETF (TERG). 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	TERG	Difference
Sharpe ratio Return per unit of total volatility	-0.76	—	—
Sortino ratio Return per unit of downside risk	-0.93	—	—
Omega ratio Gain probability vs. loss probability	0.87	—	—
Calmar ratio Return relative to maximum drawdown	-0.72	—	—
Martin ratio Return relative to average drawdown	-0.82	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FNGD	TERG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.76	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.75	10.56	-11.31

Correlation

The correlation between FNGD and TERG is -0.51. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

FNGD vs. TERG - Dividend Comparison

Neither FNGD nor TERG has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

FNGD vs. TERG - Drawdown Comparison

The maximum FNGD drawdown since its inception was -100.00%, which is greater than TERG's maximum drawdown of -39.32%. Use the drawdown chart below to compare losses from any high point for FNGD and TERG.

Drawdown Indicators

	FNGD	TERG	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-39.32%	-60.68%
Max Drawdown (1Y) Largest decline over 1 year	-82.53%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-99.53%	—	—
Current Drawdown Current decline from peak	-99.99%	-30.58%	-69.41%
Average Drawdown Average peak-to-trough decline	-86.98%	-9.77%	-77.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	71.84%	—	—

Volatility

Volatility by Period

	FNGD	TERG	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.51%	—	—
Volatility (6M) Calculated over the trailing 6-month period	45.21%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	78.65%	124.59%	-45.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	88.85%	124.59%	-35.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.51%	124.59%	-33.08%