FNGLX vs. FNGU

Last updated Aug 1, 2026

FNGLX (Fidelity Advisor Freedom 2060 Fund Class Z6) and FNGU (MicroSectors FANG+ 3X Leveraged ETNs) are both funds - FNGLX is a Target Retirement Date fund managed by Fidelity, while FNGU is a Leveraged Equities fund tracking the NYSE FANG+ Index (Gross Total Return) (300%). Over the past year, FNGLX returned 22.11% vs 13.50% for FNGU. Their 0.72 correlation means they have sometimes moved together and sometimes differently. FNGLX charges 0.50%/yr vs 2.60%/yr for FNGU.

Performance

FNGLX vs. FNGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Freedom 2060 Fund Class Z6 (FNGLX) 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, FNGLX achieves a 10.83% return, which is significantly higher than FNGU's 5.54% return.

FNGLX

• 1D: 2.33%
• 1M: -1.16%
• 6M: 7.04%
• YTD: 10.83%
• 1Y: 22.11%
• 3Y*: 17.37%
• 5Y*: 9.58%
• 10Y*: —
• ALL TIME*: 11.25%

FNGU

• 1D: 5.13%
• 1M: 0.64%
• 6M: 18.28%
• YTD: 5.54%
• 1Y: 13.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.98%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FNGLX Fidelity Advisor Freedom 2060 Fund Class Z6	$0.00	$0.00	$0.00
FNGU MicroSectors FANG+ 3X Leveraged ETNs	$92.08M	$119.18M	$153.90M

FNGLX vs. FNGU - Yearly Performance Comparison

	2026 (YTD)	2025
FNGLX Fidelity Advisor Freedom 2060 Fund Class Z6	10.83%	16.36%
FNGU MicroSectors FANG+ 3X Leveraged ETNs	5.54%	3.02%

Correlation

The correlation between FNGLX and FNGU is 0.71, 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.	0.71
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.72

The correlation between FNGLX and FNGU has been stable across timeframes, ranging from 0.71 to 0.72 - a consistent structural relationship.

Return for Risk

FNGLX vs. FNGU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FNGLX

FNGLX Risk / Return Rank: 59
FNGLX Sharpe Ratio Rank: 56
FNGLX Sortino Ratio Rank: 54
FNGLX Omega Ratio Rank: 55
FNGLX Calmar Ratio Rank: 61
FNGLX Martin Ratio Rank: 70

FNGU

FNGU Risk / Return Rank: 14
FNGU Sharpe Ratio Rank: 12
FNGU Sortino Ratio Rank: 17
FNGU Omega Ratio Rank: 17
FNGU Calmar Ratio Rank: 12
FNGU Martin Ratio Rank: 12

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FNGLX vs. FNGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Freedom 2060 Fund Class Z6 (FNGLX) 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.

	FNGLX	FNGU	Difference
Sharpe ratio: Return per unit of total volatility	1.43	0.07	+1.36
Sortino ratio: Return per unit of downside risk	2.02	0.56	+1.47
Omega ratio: Gain probability vs. loss probability	1.26	1.07	+0.19
Calmar ratio: Return relative to maximum drawdown	2.08	0.07	+2.01
Martin ratio: Return relative to average drawdown	8.64	0.16	+8.48

FNGLX vs. FNGU - Sharpe Ratio Comparison

The current FNGLX Sharpe Ratio is 1.43, which is higher than the FNGU Sharpe Ratio of 0.07. The chart below compares the historical Sharpe Ratios of FNGLX 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

FNGLX vs. FNGU - Drawdown Comparison

The maximum FNGLX drawdown since its inception was -31.22%, smaller than the maximum FNGU drawdown of -61.30%. Use the drawdown chart below to compare losses from any high point for FNGLX and FNGU.

Drawdown Indicators

	FNGLX	FNGU	Difference
Max Drawdown Largest peak-to-trough decline	-31.22%	-61.30%	+30.08%
Max Drawdown (1Y) Largest decline over 1 year	-9.90%	-59.55%	+49.65%
Max Drawdown (3Y) Largest decline over 3 years	-15.06%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.15%	—	—
Current Drawdown Current decline from peak	-2.45%	-26.25%	+23.80%
Average Drawdown Average peak-to-trough decline	-5.40%	-22.61%	+17.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.38%	26.68%	-24.30%

Volatility

FNGLX vs. FNGU - Volatility Comparison

The current volatility for Fidelity Advisor Freedom 2060 Fund Class Z6 (FNGLX) is 4.52%, while MicroSectors FANG+ 3X Leveraged ETNs (FNGU) has a volatility of 17.87%. This indicates that FNGLX 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

	FNGLX	FNGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.52%	17.87%	-13.35%
Volatility (6M) Calculated over the trailing 6-month period	12.48%	53.81%	-41.33%
Volatility (1Y) Calculated over the trailing 1-year period	14.45%	65.86%	-51.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.25%	79.67%	-64.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.11%	79.67%	-63.56%

FNGLX vs. FNGU - Expense Ratio Comparison

FNGLX has a 0.50% expense ratio, which is lower than FNGU's 2.60% expense ratio.

Dividends

FNGLX vs. FNGU - Dividend Comparison

FNGLX's dividend yield for the trailing twelve months is around 6.17%, while FNGU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNGLX Fidelity Advisor Freedom 2060 Fund Class Z6	6.17%	4.94%	2.04%	2.36%	10.48%	8.88%	4.70%	6.51%	8.88%	1.06%
FNGU MicroSectors FANG+ 3X Leveraged ETNs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FNGLX and FNGU in my portfolio?

FNGLX and FNGU have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNGLX or FNGU?

FNGU has higher volatility (17.87%) compared to FNGLX (4.52%). In terms of maximum drawdown, FNGLX dropped -31.22% vs FNGU's -61.30%.

Which has better risk-adjusted returns?

FNGLX currently has the higher Sharpe Ratio (1.43 vs 0.07), 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.