FNGG vs. APO

Last updated Jul 14, 2026

FNGG (Direxion Daily NYSE FANG+ Bull 2X Shares) is Leveraged Equities fund tracking the NYSE FANG+ Index (2x Leveraged), while APO (Apollo Global Management, Inc.) is a stock. Over the past 3 years, FNGG returned 47.72%/yr vs 15.78%/yr for APO. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

FNGG vs. APO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG) and Apollo Global Management, Inc. (APO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNGG achieves a 14.01% return, which is significantly higher than APO's -17.23% return.

FNGG

• 1D: -1.75%
• 1M: 5.15%
• 6M: 14.11%
• YTD: 14.01%
• 1Y: 24.63%
• 3Y*: 47.72%
• 5Y*: —
• 10Y*: —

APO

• 1D: -1.25%
• 1M: -11.24%
• 6M: -16.74%
• YTD: -17.23%
• 1Y: -17.97%
• 3Y*: 15.78%
• 5Y*: 16.99%
• 10Y*: 27.28%

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

FNGG vs. APO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FNGG Direxion Daily NYSE FANG+ Bull 2X Shares	14.01%	27.21%	98.76%	204.23%	-87.15%	-4.05%
APO Apollo Global Management, Inc.	-17.23%	-11.12%	79.87%	49.44%	-9.59%	16.94%

Correlation

The correlation between FNGG and APO is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	0.54

Over the past year, the correlation between FNGG and APO has dropped to 0.25 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.

Return for Risk

FNGG vs. APO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FNGG

FNGG Risk / Return Rank: 20
FNGG Sharpe Ratio Rank: 20
FNGG Sortino Ratio Rank: 22
FNGG Omega Ratio Rank: 22
FNGG Calmar Ratio Rank: 18
FNGG Martin Ratio Rank: 18

APO

APO Risk / Return Rank: 23
APO Sharpe Ratio Rank: 22
APO Sortino Ratio Rank: 23
APO Omega Ratio Rank: 22
APO Calmar Ratio Rank: 26
APO Martin Ratio Rank: 22

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.

FNGG vs. APO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG) and Apollo Global Management, Inc. (APO). 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.

	FNGG	APO	Difference
Sharpe ratio: Return per unit of total volatility	0.57	-0.50	+1.07
Sortino ratio: Return per unit of downside risk	1.04	-0.51	+1.54
Omega ratio: Gain probability vs. loss probability	1.13	0.94	+0.19
Calmar ratio: Return relative to maximum drawdown	0.58	-0.52	+1.09
Martin ratio: Return relative to average drawdown	1.44	-1.03	+2.47

FNGG vs. APO - Sharpe Ratio Comparison

The current FNGG Sharpe Ratio is 0.57, which is higher than the APO Sharpe Ratio of -0.50. The chart below compares the historical Sharpe Ratios of FNGG and APO, 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

FNGG vs. APO - Drawdown Comparison

The maximum FNGG drawdown since its inception was -91.33%, which is greater than APO's maximum drawdown of -56.99%. Use the drawdown chart below to compare losses from any high point for FNGG and APO.

Drawdown Indicators

	FNGG	APO	Difference
Max Drawdown Largest peak-to-trough decline	-91.33%	-56.99%	-34.34%
Max Drawdown (1Y) Largest decline over 1 year	-43.01%	-34.97%	-8.04%
Max Drawdown (3Y) Largest decline over 3 years	-47.03%	-42.82%	-4.21%
Max Drawdown (5Y) Largest decline over 5 years	—	-42.82%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-53.48%	—
Current Drawdown Current decline from peak	-15.68%	-31.97%	+16.29%
Average Drawdown Average peak-to-trough decline	-55.17%	-16.45%	-38.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.12%	17.54%	-0.42%

Volatility

FNGG vs. APO - Volatility Comparison

Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG) has a higher volatility of 15.56% compared to Apollo Global Management, Inc. (APO) at 10.57%. This indicates that FNGG's price experiences larger fluctuations and is considered to be riskier than APO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNGG	APO	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.56%	10.57%	+4.99%
Volatility (6M) Calculated over the trailing 6-month period	35.05%	27.82%	+7.23%
Volatility (1Y) Calculated over the trailing 1-year period	43.33%	35.98%	+7.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.49%	37.26%	+30.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.49%	37.88%	+29.61%

Dividends

FNGG vs. APO - Dividend Comparison

FNGG's dividend yield for the trailing twelve months is around 10.44%, more than APO's 1.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APO Apollo Global Management, Inc.	1.76%	1.38%	1.10%	1.81%	2.51%	2.90%	4.72%	4.23%	7.86%	5.53%	6.46%	12.91%
FNGG Direxion Daily NYSE FANG+ Bull 2X Shares	10.44%	11.89%	0.79%	0.88%	0.00%	4.99%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FNGG and APO in my portfolio?

FNGG and APO have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNGG or APO?

FNGG has higher volatility (15.56%) compared to APO (10.57%). In terms of maximum drawdown, FNGG dropped -91.33% vs APO's -56.99%.

Which has better risk-adjusted returns?

FNGG currently has the higher Sharpe Ratio (0.57 vs -0.50), 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.