PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
FNGG vs. IVW
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FNGG vs. IVW

Last updated Jun 24, 2026

FNGG (Direxion Daily NYSE FANG+ Bull 2X Shares) and IVW (iShares S&P 500 Growth ETF) are both exchange-traded funds - FNGG is a Leveraged Equities fund tracking the NYSE FANG+ Index (2x Leveraged), while IVW is a Large Cap Growth Equities fund tracking the S&P 500 Growth Index. Both are passively managed. Over the past 3 years, FNGG returned 48.04%/yr vs 25.36%/yr for IVW. Their correlation of 0.89 suggests significant overlap in exposure. FNGG charges 0.97%/yr vs 0.18%/yr for IVW.

Performance

FNGG vs. IVW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG) and iShares S&P 500 Growth ETF (IVW). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, FNGG achieves a 5.64% return, which is significantly lower than IVW's 8.67% return.

FNGG

1D
-4.89%
1M
-7.16%
YTD
5.64%
6M
2.41%
1Y
24.87%
3Y*
48.04%
5Y*
—
10Y*
—

IVW

1D
-2.32%
1M
-2.04%
YTD
8.67%
6M
7.44%
1Y
26.74%
3Y*
25.36%
5Y*
13.97%
10Y*
17.93%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FNGG vs. IVW - Yearly Performance Comparison

2026 (YTD)20252024202320222021
FNGG
Direxion Daily NYSE FANG+ Bull 2X Shares		5.64%27.21%98.76%204.23%-87.15%-4.05%
IVW
iShares S&P 500 Growth ETF		8.67%21.95%35.82%29.83%-29.50%12.42%

Correlation

The correlation between FNGG and IVW is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.90

Correlation (3Y)
Calculated over the trailing 3-year period

0.91

Correlation (All Time)
Calculated using the full available price history since Sep 30, 2021

0.89

The correlation between FNGG and IVW has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

FNGG vs. IVW - Sectors Allocation Comparison

Sectors
FNGG
IVW

Technology

64.5%
53.0%

Communication Services

25.2%
15.8%

Consumer Cyclical

10.3%
8.4%

Basic Materials

-

0.3%

Consumer Defensive

-

1.0%

Energy

-

0.1%

Financial Services

-

8.6%

Healthcare

-

5.7%

Industrials

-

5.3%

Real Estate

-

0.5%

Utilities

-

1.2%

Technology

FNGG
64.5%
IVW
53.0%

Communication Services

FNGG
25.2%
IVW
15.8%

Consumer Cyclical

FNGG
10.3%
IVW
8.4%

Basic Materials

FNGG

-

IVW
0.3%

Consumer Defensive

FNGG

-

IVW
1.0%

Energy

FNGG

-

IVW
0.1%

Financial Services

FNGG

-

IVW
8.6%

Healthcare

FNGG

-

IVW
5.7%

Industrials

FNGG

-

IVW
5.3%

Real Estate

FNGG

-

IVW
0.5%

Utilities

FNGG

-

IVW
1.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Direxion Daily NYSE FANG+ Bull 2X Shares

iShares S&P 500 Growth ETF

Often compared with FNGG:
FNGG vs. FNGUFNGG vs. FNGOFNGG vs. TQQQFNGG vs. SOXLFNGG vs. QQQUFNGG vs. QLDFNGG vs. TECL
Often compared with IVW:
IVW vs. IVVIVW vs. IVEIVW vs. QQQIVW vs. SPYIVW vs. VOOIVW vs. VOOGIVW vs. SPYG

Return for Risk

FNGG vs. IVW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FNGG
FNGG Risk / Return Rank: 1818
Overall Rank
FNGG Sharpe Ratio Rank: 1818
Sharpe Ratio Rank
FNGG Sortino Ratio Rank: 1919
Sortino Ratio Rank
FNGG Omega Ratio Rank: 1919
Omega Ratio Rank
FNGG Calmar Ratio Rank: 1515
Calmar Ratio Rank
FNGG Martin Ratio Rank: 1616
Martin Ratio Rank
IVW
IVW Risk / Return Rank: 4545
Overall Rank
IVW Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
IVW Sortino Ratio Rank: 4444
Sortino Ratio Rank
IVW Omega Ratio Rank: 4444
Omega Ratio Rank
IVW Calmar Ratio Rank: 4141
Calmar Ratio Rank
IVW Martin Ratio Rank: 4848
Martin Ratio Rank
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. IVW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG) and iShares S&P 500 Growth ETF (IVW). 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.

FNGGIVWDifference
Sharpe ratioReturn per unit of total volatility
0.57
1.58

-1.01

Sortino ratioReturn per unit of downside risk
1.04
2.16

-1.12

Omega ratioGain probability vs. loss probability

1.13

1.28

-0.15

Calmar ratioReturn relative to maximum drawdown

0.58

1.95

-1.37

Martin ratioReturn relative to average drawdown

1.50

7.75

-6.25

FNGG vs. IVW - Sharpe Ratio Comparison

The current FNGG Sharpe Ratio is 0.57, which is lower than the IVW Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of FNGG and IVW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

FNGG vs. IVW - Drawdown Comparison

The maximum FNGG drawdown since its inception was -91.33%, which is greater than IVW's maximum drawdown of -57.33%. Use the drawdown chart below to compare losses from any high point for FNGG and IVW.

Loading charts...

Drawdown Indicators

FNGGIVWDifference

Max Drawdown

Largest peak-to-trough decline

-91.33%

-57.33%

-34.00%

Max Drawdown (1Y)

Largest decline over 1 year

-43.01%

-13.75%

-29.26%

Max Drawdown (3Y)

Largest decline over 3 years

-47.03%

-22.15%

-24.88%

Max Drawdown (5Y)

Largest decline over 5 years

—

-32.72%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-32.72%

—

Current Drawdown

Current decline from peak

-21.87%

-5.48%

-16.39%

Average Drawdown

Average peak-to-trough decline

-55.56%

-17.59%

-37.97%

Ulcer Index

Depth and duration of drawdowns from previous peaks

16.65%

3.46%

+13.19%

Volatility

FNGG vs. IVW - Volatility Comparison

Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG) has a higher volatility of 21.11% compared to iShares S&P 500 Growth ETF (IVW) at 7.23%. This indicates that FNGG's price experiences larger fluctuations and is considered to be riskier than IVW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

FNGGIVWDifference

Volatility (1M)

Calculated over the trailing 1-month period

21.11%

7.23%

+13.88%

Volatility (6M)

Calculated over the trailing 6-month period

35.05%

13.82%

+21.23%

Volatility (1Y)

Calculated over the trailing 1-year period

43.67%

17.06%

+26.61%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

67.80%

21.35%

+46.45%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

67.80%

20.70%

+47.10%

FNGG vs. IVW - Expense Ratio Comparison

FNGG has a 0.97% expense ratio, which is higher than IVW's 0.18% expense ratio.

Dividends

FNGG vs. IVW - Dividend Comparison

FNGG's dividend yield for the trailing twelve months is around 11.22%, more than IVW's 0.37% yield.

PositionTTM20252024202320222021202020192018201720162015
FNGG
Direxion Daily NYSE FANG+ Bull 2X Shares		11.22%11.89%0.79%0.88%0.00%4.99%0.00%0.00%0.00%0.00%0.00%0.00%
IVW
iShares S&P 500 Growth ETF		0.37%0.40%0.43%1.03%0.92%0.46%0.82%1.63%1.28%1.30%1.51%1.51%

Frequently Asked Questions

With a correlation of 0.90, FNGG and IVW 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.

FNGG has higher volatility (21.11%) compared to IVW (7.23%). In terms of maximum drawdown, FNGG dropped -91.33% vs IVW's -57.33%.

On 3-year performance, FNGG leads with 48.04% vs 25.36% for IVW. On fees, IVW is cheaper at 0.18% per year. On volatility, IVW has been the lower-risk option at 7.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, FNGG has performed better with a 48.04% return vs 25.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IVW is cheaper with a 0.18% expense ratio, compared with 0.97% for FNGG.

FNGG has the higher dividend yield at 11.22%, compared with 0.37% for IVW.

FNGG is categorized as Leveraged Equities, while IVW is Large Cap Growth Equities. FNGG tracks NYSE FANG+ Index (2x Leveraged), while IVW tracks S&P 500 Growth Index. They also come from different issuers: Direxion and iShares. Their fees differ too: 0.97% for FNGG and 0.18% for IVW.

IVW currently has the higher Sharpe Ratio (1.58 vs 0.57), 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.

Portfolio Optimizer

Find the right allocation for FNGG and IVW

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer