FNGD vs. WEBS
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 (Gross Total Return, -300% Daily) while WEBS tracks the Dow Jones Internet Composite Index (300%). Both are passively managed. Over the past 5 years, FNGD returned -63.24%/yr vs -33.73%/yr for WEBS. Their correlation of 0.86 means they have usually moved in the same direction. FNGD charges 0.95%/yr vs 1.07%/yr for WEBS.
Performance
FNGD vs. WEBS - Performance Comparison
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Returns By Period
In the year-to-date period, FNGD achieves a -34.80% return, which is significantly lower than WEBS's -14.38% 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%
WEBS
- 1D
- -7.56%
- 1M
- -9.28%
- 6M
- -21.86%
- YTD
- -14.38%
- 1Y
- -19.62%
- 3Y*
- -44.46%
- 5Y*
- -33.73%
- 10Y*
- —
- ALL TIME*
- -51.17%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $13.50M | $14.88M | $20.27M | |
| $830.56K | $855.34K | $1.32M |
FNGD vs. WEBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN | -34.80% | -61.42% | -76.57% | -90.14% | 52.21% | -60.04% | -95.60% | -31.71% |
WEBS Daily Dow Jones Internet Bear 3X Shares | -14.38% | -40.66% | -56.62% | -75.58% | 117.15% | -39.82% | -87.18% | -10.90% |
Correlation
The correlation between FNGD and WEBS is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.77 |
Correlation (3Y) Balances recent behavior with more history. | 0.82 |
Correlation (5Y) Shows whether the relationship held over a longer 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 0.77 to 0.86 - a consistent structural relationship.
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Return for Risk
FNGD vs. WEBS — Risk / Return Rank
FNGD
WEBS
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 ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.02 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | -0.22 | -0.46 |
| Martin ratioReturn relative to average drawdown | -1.26 | -0.45 | -0.81 |
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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.
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Drawdown Indicators
| FNGD | WEBS | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 DrawdownCurrent decline from peak | -100.00% | -99.58% | -0.42% |
Average DrawdownAverage peak-to-trough decline | -87.46% | -91.24% | +3.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.26% | 25.63% | +9.63% |
Volatility
FNGD vs. WEBS - Volatility Comparison
MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and Daily Dow Jones Internet Bear 3X Shares (WEBS) have volatilities of 18.15% and 17.91%, 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 | WEBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.15% | 17.91% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 54.65% | 48.62% | +6.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 66.81% | 61.75% | +5.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 89.78% | 82.30% | +7.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 90.95% | 89.39% | +1.56% |
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 3.20%.
| 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 | 3.20% | 3.77% | 8.02% | 8.51% | 0.20% | 0.00% | 1.11% | 0.11% |
Frequently Asked Questions
FNGD and WEBS have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNGD has higher volatility (18.15%) compared to WEBS (17.91%). In terms of maximum drawdown, FNGD dropped -100.00% vs WEBS's -99.63%.
On 5-year performance, WEBS leads with -33.73% vs -63.24% for FNGD. On fees, FNGD is cheaper at 0.95% per year. On volatility, WEBS has been the lower-risk option at 17.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, WEBS has performed better with a -33.73% return vs -63.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FNGD is cheaper with a 0.95% expense ratio, compared with 1.07% for WEBS.
WEBS has the higher dividend yield at 3.20%, compared with 0.00% for FNGD.
FNGD tracks NYSE FANG+ Index (Gross Total Return, -300% Daily), 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.
WEBS currently has the higher Sharpe Ratio (-0.19 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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