FNGG vs. FNGU

Last updated Jun 23, 2026

FNGG (Direxion Daily NYSE FANG+ Bull 2X Shares) and FNGU (MicroSectors FANG+ 3X Leveraged ETNs) are both Leveraged Equities funds - FNGG tracks the NYSE FANG+ Index (2x Leveraged) while FNGU tracks the NYSE FANG+ Index (Gross Total Return) (300%). Both are passively managed. Over the past year, FNGG returned 34.32% vs 30.95% for FNGU. With a 0.99 correlation, they move nearly in lockstep. FNGG charges 0.97%/yr vs 2.60%/yr for FNGU.

Performance

FNGG vs. FNGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG) and MicroSectors FANG+ 3X Leveraged ETNs (FNGU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNGG achieves a 11.08% return, which is significantly higher than FNGU's 7.21% return.

FNGG

• 1D: -5.43%
• 1M: -2.38%
• YTD: 11.08%
• 6M: 9.63%
• 1Y: 34.32%
• 3Y*: 50.53%
• 5Y*: —
• 10Y*: —

FNGU

• 1D: -7.77%
• 1M: -5.74%
• YTD: 7.21%
• 6M: 4.80%
• 1Y: 30.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FNGG vs. FNGU - Yearly Performance Comparison

	2026 (YTD)	2025
FNGG Direxion Daily NYSE FANG+ Bull 2X Shares	11.08%	14.70%
FNGU MicroSectors FANG+ 3X Leveraged ETNs	7.21%	3.02%

Correlation

The correlation between FNGG and FNGU is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.99

The correlation between FNGG and FNGU has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

FNGG vs. FNGU - Sectors Allocation Comparison

Sectors	FNGG	FNGU
Technology	64.5%	60.6%
Communication Services	25.2%	29.8%
Consumer Cyclical	10.3%	9.6%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

FNGG vs. FNGU — Risk / Return Rank

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

FNGG

FNGG Risk / Return Rank: 21
FNGG Sharpe Ratio Rank: 23
FNGG Sortino Ratio Rank: 24
FNGG Omega Ratio Rank: 23
FNGG Calmar Ratio Rank: 19
FNGG Martin Ratio Rank: 18

FNGU

FNGU Risk / Return Rank: 17
FNGU Sharpe Ratio Rank: 16
FNGU Sortino Ratio Rank: 20
FNGU Omega Ratio Rank: 19
FNGU Calmar Ratio Rank: 14
FNGU Martin Ratio Rank: 14

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. FNGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG) and MicroSectors FANG+ 3X Leveraged ETNs (FNGU). 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	FNGU	Difference
Sharpe ratio: Return per unit of total volatility	0.79	0.49	+0.31
Sortino ratio: Return per unit of downside risk	1.29	1.06	+0.23
Omega ratio: Gain probability vs. loss probability	1.16	1.13	+0.03
Calmar ratio: Return relative to maximum drawdown	0.80	0.52	+0.28
Martin ratio: Return relative to average drawdown	2.07	1.24	+0.84

FNGG vs. FNGU - Sharpe Ratio Comparison

The current FNGG Sharpe Ratio is 0.79, which is higher than the FNGU Sharpe Ratio of 0.49. The chart below compares the historical Sharpe Ratios of FNGG and FNGU, 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. FNGU - Drawdown Comparison

The maximum FNGG drawdown since its inception was -91.33%, which is greater than FNGU's maximum drawdown of -61.30%. Use the drawdown chart below to compare losses from any high point for FNGG and FNGU.

Drawdown Indicators

	FNGG	FNGU	Difference
Max Drawdown Largest peak-to-trough decline	-91.33%	-61.30%	-30.03%
Max Drawdown (1Y) Largest decline over 1 year	-43.01%	-59.55%	+16.54%
Max Drawdown (3Y) Largest decline over 3 years	-47.03%	—	—
Current Drawdown Current decline from peak	-17.85%	-25.09%	+7.24%
Average Drawdown Average peak-to-trough decline	-55.59%	-22.25%	-33.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.60%	25.10%	-8.50%

Volatility

FNGG vs. FNGU - Volatility Comparison

The current volatility for Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG) is 20.62%, while MicroSectors FANG+ 3X Leveraged ETNs (FNGU) has a volatility of 32.41%. This indicates that FNGG experiences smaller price fluctuations and is considered to be less risky than FNGU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNGG	FNGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.62%	32.41%	-11.79%
Volatility (6M) Calculated over the trailing 6-month period	34.72%	52.02%	-17.30%
Volatility (1Y) Calculated over the trailing 1-year period	43.47%	64.11%	-20.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.79%	81.02%	-13.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.79%	81.02%	-13.23%

FNGG vs. FNGU - Expense Ratio Comparison

FNGG has a 0.97% expense ratio, which is lower than FNGU's 2.60% expense ratio.

Dividends

FNGG vs. FNGU - Dividend Comparison

FNGG's dividend yield for the trailing twelve months is around 10.67%, while FNGU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
FNGG Direxion Daily NYSE FANG+ Bull 2X Shares	10.67%	11.89%	0.79%	0.88%	0.00%	4.99%
FNGU MicroSectors FANG+ 3X Leveraged ETNs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FNGG and FNGU in my portfolio?

With a correlation of 0.99, FNGG and FNGU move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FNGG or FNGU?

FNGU has higher volatility (32.41%) compared to FNGG (20.62%). In terms of maximum drawdown, FNGG dropped -91.33% vs FNGU's -61.30%.

Which ETF is better, FNGG or FNGU?

On 1-year performance, FNGG leads with 34.32% vs 30.95% for FNGU. On fees, FNGG is cheaper at 0.97% per year. On volatility, FNGG has been the lower-risk option at 20.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNGG or FNGU?

Over the 1-year period, FNGG has performed better with a 34.32% return vs 30.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNGG or FNGU?

FNGG is cheaper with a 0.97% expense ratio, compared with 2.60% for FNGU.

Which ETF pays a higher dividend yield, FNGG or FNGU?

FNGG has the higher dividend yield at 10.67%, compared with 0.00% for FNGU.

What is the main difference between FNGG and FNGU?

FNGG tracks NYSE FANG+ Index (2x Leveraged), while FNGU tracks NYSE FANG+ Index (Gross Total Return) (300%). They also come from different issuers: Direxion and Bank of Montreal. Their fees differ too: 0.97% for FNGG and 2.60% for FNGU.

Which has better risk-adjusted returns?

FNGG currently has the higher Sharpe Ratio (0.79 vs 0.49), 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.