FNGG vs. SIXH
FNGG (Direxion Daily NYSE FANG+ Bull 2X Shares) and SIXH (6 Meridian Hedged Equity-Index Option Strategy ETF) are both exchange-traded funds - FNGG is a Leveraged Equities fund tracking the NYSE FANG+ Index (2x Leveraged), while SIXH is a Volatility Hedged Equity fund actively managed by Exchange Traded Concepts. FNGG is passively managed, while SIXH is actively managed. Over the past 3 years, FNGG returned 50.53%/yr vs 13.19%/yr for SIXH. At a 0.11 correlation, their price movements are largely independent. FNGG charges 0.97%/yr vs 0.87%/yr for SIXH.
Performance
FNGG vs. SIXH - Performance Comparison
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Returns By Period
In the year-to-date period, FNGG achieves a 11.08% return, which is significantly higher than SIXH's 9.61% return.
FNGG
- 1D
- -5.43%
- 1M
- -2.38%
- YTD
- 11.08%
- 6M
- 9.63%
- 1Y
- 34.32%
- 3Y*
- 50.53%
- 5Y*
- —
- 10Y*
- —
SIXH
- 1D
- 0.55%
- 1M
- 0.87%
- YTD
- 9.61%
- 6M
- 9.61%
- 1Y
- 13.50%
- 3Y*
- 13.19%
- 5Y*
- 9.64%
- 10Y*
- —
FNGG vs. SIXH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FNGG Direxion Daily NYSE FANG+ Bull 2X Shares | 11.08% | 27.21% | 98.76% | 204.23% | -87.15% | -4.05% |
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF | 9.61% | 9.47% | 12.06% | 4.93% | 6.90% | 3.18% |
Correlation
The correlation between FNGG and SIXH is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | 0.11 |
The correlation between FNGG and SIXH shifts across timeframes, from -0.20 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FNGG vs. SIXH — Risk / Return Rank
FNGG
SIXH
FNGG vs. SIXH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG) and 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH). 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 | SIXH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.31 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | 3.11 | -2.31 |
| Martin ratioReturn relative to average drawdown | 2.07 | 7.88 | -5.81 |
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Drawdowns
FNGG vs. SIXH - Drawdown Comparison
The maximum FNGG drawdown since its inception was -91.33%, which is greater than SIXH's maximum drawdown of -11.68%. Use the drawdown chart below to compare losses from any high point for FNGG and SIXH.
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Drawdown Indicators
| FNGG | SIXH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.33% | -11.68% | -79.65% |
Max Drawdown (1Y)Largest decline over 1 year | -43.01% | -4.36% | -38.65% |
Max Drawdown (3Y)Largest decline over 3 years | -47.03% | -9.10% | -37.93% |
Max Drawdown (5Y)Largest decline over 5 years | — | -11.68% | — |
Current DrawdownCurrent decline from peak | -17.85% | -0.47% | -17.38% |
Average DrawdownAverage peak-to-trough decline | -55.59% | -1.84% | -53.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.60% | 1.72% | +14.88% |
Volatility
FNGG vs. SIXH - Volatility Comparison
Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG) has a higher volatility of 20.62% compared to 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) at 2.33%. This indicates that FNGG's price experiences larger fluctuations and is considered to be riskier than SIXH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNGG | SIXH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.62% | 2.33% | +18.29% |
Volatility (6M)Calculated over the trailing 6-month period | 34.72% | 6.07% | +28.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.47% | 7.68% | +35.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.79% | 10.37% | +57.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 67.79% | 10.13% | +57.66% |
FNGG vs. SIXH - Expense Ratio Comparison
FNGG has a 0.97% expense ratio, which is higher than SIXH's 0.87% expense ratio.
Dividends
FNGG vs. SIXH - Dividend Comparison
FNGG's dividend yield for the trailing twelve months is around 10.67%, more than SIXH's 1.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
FNGG Direxion Daily NYSE FANG+ Bull 2X Shares | 10.67% | 11.89% | 0.79% | 0.88% | 0.00% | 4.99% | 0.00% |
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF | 1.85% | 2.23% | 1.55% | 2.04% | 2.06% | 1.65% | 1.10% |
Frequently Asked Questions
FNGG and SIXH have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNGG has higher volatility (20.62%) compared to SIXH (2.33%). In terms of maximum drawdown, FNGG dropped -91.33% vs SIXH's -11.68%.
On 3-year performance, FNGG leads with 50.53% vs 13.19% for SIXH. On fees, SIXH is cheaper at 0.87% per year. On volatility, SIXH has been the lower-risk option at 2.33%. 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 50.53% return vs 13.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SIXH is cheaper with a 0.87% expense ratio, compared with 0.97% for FNGG.
FNGG has the higher dividend yield at 10.67%, compared with 1.85% for SIXH.
FNGG is categorized as Leveraged Equities, while SIXH is Volatility Hedged Equity. They also come from different issuers: Direxion and Exchange Traded Concepts. Their fees differ too: 0.97% for FNGG and 0.87% for SIXH.
SIXH currently has the higher Sharpe Ratio (1.77 vs 0.79), 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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