FNGD vs. TSLG

Last updated Apr 1, 2026

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

FNGD and TSLG 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. TSLG is an actively managed fund by Leverage Shares. It was launched on Dec 12, 2024.

Performance

FNGD vs. TSLG - 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 TSLA Daily ETF (TSLG). The values are adjusted to include any dividend payments, if applicable.

FNGD vs. TSLG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN	40.23%	-61.42%	6.72%
TSLG Leverage Shares 2X Long TSLA Daily ETF	-35.84%	-26.70%	-16.81%

Returns By Period

In the year-to-date period, FNGD achieves a 40.23% return, which is significantly higher than TSLG's -35.84% return.

FNGD

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

TSLG

• 1D: 9.07%
• 1M: -16.83%
• YTD: -35.84%
• 6M: -39.88%
• 1Y: 34.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FNGD vs. TSLG - Expense Ratio Comparison

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

FNGD

MicroSectors FANG+™ Index -3X Inverse Leveraged ETN

TSLG

Leverage Shares 2X Long TSLA Daily ETF

Return for Risk

FNGD vs. TSLG — 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

TSLG

TSLG Risk / Return Rank: 30
TSLG Sharpe Ratio Rank: 20
TSLG Sortino Ratio Rank: 45
TSLG Omega Ratio Rank: 38
TSLG Calmar Ratio Rank: 25
TSLG Martin Ratio Rank: 20

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. TSLG - 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 TSLA Daily ETF (TSLG). 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	TSLG	Difference
Sharpe ratio Return per unit of total volatility	-0.76	0.32	-1.08
Sortino ratio Return per unit of downside risk	-0.93	1.26	-2.19
Omega ratio Gain probability vs. loss probability	0.87	1.15	-0.28
Calmar ratio Return relative to maximum drawdown	-0.72	0.59	-1.31
Martin ratio Return relative to average drawdown	-0.82	1.27	-2.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNGD vs. TSLG - Sharpe Ratio Comparison

The current FNGD Sharpe Ratio is -0.76, which is lower than the TSLG Sharpe Ratio of 0.32. The chart below compares the historical Sharpe Ratios of FNGD and TSLG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FNGD	TSLG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.76	0.32	-1.08
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	-0.44	-0.31

Correlation

The correlation between FNGD and TSLG is -0.53. 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. TSLG - Dividend Comparison

FNGD has not paid dividends to shareholders, while TSLG's dividend yield for the trailing twelve months is around 10.20%.

	TTM	2025
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN	0.00%	0.00%
TSLG Leverage Shares 2X Long TSLA Daily ETF	10.20%	6.55%

Drawdowns

FNGD vs. TSLG - Drawdown Comparison

The maximum FNGD drawdown since its inception was -100.00%, which is greater than TSLG's maximum drawdown of -82.86%. Use the drawdown chart below to compare losses from any high point for FNGD and TSLG.

Drawdown Indicators

	FNGD	TSLG	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-82.86%	-17.14%
Max Drawdown (1Y) Largest decline over 1 year	-82.53%	-50.92%	-31.61%
Max Drawdown (5Y) Largest decline over 5 years	-99.53%	—	—
Current Drawdown Current decline from peak	-99.99%	-67.59%	-32.40%
Average Drawdown Average peak-to-trough decline	-86.98%	-58.04%	-28.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	71.84%	23.82%	+48.02%

Volatility

FNGD vs. TSLG - Volatility Comparison

MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) has a higher volatility of 24.51% compared to Leverage Shares 2X Long TSLA Daily ETF (TSLG) at 22.28%. This indicates that FNGD's price experiences larger fluctuations and is considered to be riskier than TSLG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNGD	TSLG	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.51%	22.28%	+2.23%
Volatility (6M) Calculated over the trailing 6-month period	45.21%	59.35%	-14.14%
Volatility (1Y) Calculated over the trailing 1-year period	78.65%	110.61%	-31.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	88.85%	119.00%	-30.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.51%	119.00%	-27.49%