FNGD vs. WEBS

Last updated Jul 14, 2026

FNGD (MicroSectors FANG+™ Index -3X Inverse Leveraged ETN) and WEBS (Daily Dow Jones Internet Bear 3X Shares) are both Leveraged Equities funds - FNGD tracks the NYSE FANG+ Index (-300%) while WEBS tracks the Dow Jones Internet Composite Index (300%). Both are passively managed. Over the past 5 years, FNGD returned -62.88%/yr vs -33.46%/yr for WEBS. Their correlation of 0.86 suggests significant overlap in exposure. FNGD charges 0.95%/yr vs 1.07%/yr for WEBS.

Performance

FNGD vs. WEBS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and Daily Dow Jones Internet Bear 3X Shares (WEBS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNGD achieves a -35.56% return, which is significantly lower than WEBS's -13.48% return.

FNGD

• 1D: 2.44%
• 1M: -11.47%
• 6M: -35.07%
• YTD: -35.56%
• 1Y: -49.24%
• 3Y*: -65.19%
• 5Y*: -62.88%
• 10Y*: —

WEBS

• 1D: 1.59%
• 1M: -12.13%
• 6M: -13.78%
• YTD: -13.48%
• 1Y: -19.36%
• 3Y*: -45.17%
• 5Y*: -33.46%
• 10Y*: —

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

FNGD vs. WEBS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN	-35.56%	-61.42%	-76.57%	-90.14%	52.21%	-60.04%	-95.60%	-31.71%
WEBS Daily Dow Jones Internet Bear 3X Shares	-13.48%	-40.66%	-56.62%	-75.58%	117.15%	-39.82%	-87.18%	-10.90%

Correlation

The correlation between FNGD and WEBS is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019	0.86

The correlation between FNGD and WEBS has been stable across timeframes, ranging from 0.78 to 0.86 - a consistent structural relationship.

Return for Risk

FNGD vs. WEBS — 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: 3
FNGD Sortino Ratio Rank: 3
FNGD Omega Ratio Rank: 4
FNGD Calmar Ratio Rank: 3
FNGD Martin Ratio Rank: 1

WEBS

WEBS Risk / Return Rank: 6
WEBS Sharpe Ratio Rank: 6
WEBS Sortino Ratio Rank: 7
WEBS Omega Ratio Rank: 7
WEBS Calmar Ratio Rank: 6
WEBS Martin Ratio Rank: 5

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. WEBS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and Daily Dow Jones Internet Bear 3X Shares (WEBS). 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	WEBS	Difference
Sharpe ratio: Return per unit of total volatility	-0.76	-0.32	-0.43
Sortino ratio: Return per unit of downside risk	-1.00	-0.09	-0.90
Omega ratio: Gain probability vs. loss probability	0.89	0.99	-0.10
Calmar ratio: Return relative to maximum drawdown	-0.75	-0.36	-0.39
Martin ratio: Return relative to average drawdown	-1.52	-0.82	-0.70

FNGD vs. WEBS - Sharpe Ratio Comparison

The current FNGD Sharpe Ratio is -0.76, which is lower than the WEBS Sharpe Ratio of -0.32. The chart below compares the historical Sharpe Ratios of FNGD and WEBS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FNGD vs. WEBS - Drawdown Comparison

The maximum FNGD drawdown since its inception was -100.00%, roughly equal to the maximum WEBS drawdown of -99.63%. Use the drawdown chart below to compare losses from any high point for FNGD and WEBS.

Drawdown Indicators

	FNGD	WEBS	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-99.63%	-0.37%
Max Drawdown (1Y) Largest decline over 1 year	-65.92%	-53.54%	-12.38%
Max Drawdown (3Y) Largest decline over 3 years	-97.35%	-90.33%	-7.02%
Max Drawdown (5Y) Largest decline over 5 years	-99.67%	-97.09%	-2.58%
Current Drawdown Current decline from peak	-100.00%	-99.58%	-0.42%
Average Drawdown Average peak-to-trough decline	-87.38%	-91.17%	+3.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.60%	23.67%	+8.93%

Volatility

FNGD vs. WEBS - Volatility Comparison

MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) has a higher volatility of 25.56% compared to Daily Dow Jones Internet Bear 3X Shares (WEBS) at 19.28%. This indicates that FNGD's price experiences larger fluctuations and is considered to be riskier than WEBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNGD	WEBS	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.56%	19.28%	+6.28%
Volatility (6M) Calculated over the trailing 6-month period	53.43%	47.53%	+5.90%
Volatility (1Y) Calculated over the trailing 1-year period	65.22%	60.10%	+5.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.65%	82.25%	+7.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.07%	89.55%	+1.52%

FNGD vs. WEBS - Expense Ratio Comparison

FNGD has a 0.95% expense ratio, which is lower than WEBS's 1.07% expense ratio.

Dividends

FNGD vs. WEBS - Dividend Comparison

FNGD has not paid dividends to shareholders, while WEBS's dividend yield for the trailing twelve months is around 3.17%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
WEBS Daily Dow Jones Internet Bear 3X Shares	3.17%	3.77%	8.02%	8.51%	0.20%	0.00%	1.11%	0.11%

Frequently Asked Questions

Can I hold both FNGD and WEBS in my portfolio?

FNGD and WEBS have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNGD or WEBS?

FNGD has higher volatility (25.56%) compared to WEBS (19.28%). In terms of maximum drawdown, FNGD dropped -100.00% vs WEBS's -99.63%.

Which ETF is better, FNGD or WEBS?

On 5-year performance, WEBS leads with -33.46% vs -62.88% for FNGD. On fees, FNGD is cheaper at 0.95% per year. On volatility, WEBS has been the lower-risk option at 19.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNGD or WEBS?

Over the 5-year period, WEBS has performed better with a -33.46% return vs -62.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNGD or WEBS?

FNGD is cheaper with a 0.95% expense ratio, compared with 1.07% for WEBS.

Which ETF pays a higher dividend yield, FNGD or WEBS?

WEBS has the higher dividend yield at 3.17%, compared with 0.00% for FNGD.

What is the main difference between FNGD and WEBS?

FNGD tracks NYSE FANG+ Index (-300%), while WEBS tracks Dow Jones Internet Composite Index (300%). They also come from different issuers: BMO and Direxion. Their fees differ too: 0.95% for FNGD and 1.07% for WEBS.

Which has better risk-adjusted returns?

WEBS currently has the higher Sharpe Ratio (-0.32 vs -0.76), 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.