FNGO vs. BULZ
Compare and contrast key facts about MicroSectors FANG+ Index 2X Leveraged ETN (FNGO) and MicroSectors Solactive FANG & Innovation 3X Leveraged ETN (BULZ).
FNGO and BULZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FNGO is a passively managed fund by Bank of Montreal that tracks the performance of the NYSE FANG+ Index (+200%). It was launched on Aug 1, 2018. BULZ is a passively managed fund by BMO that tracks the performance of the Solactive FANG Innovation. It was launched on Aug 17, 2021. Both FNGO and BULZ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
FNGO vs. BULZ - Performance Comparison
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FNGO vs. BULZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FNGO MicroSectors FANG+ Index 2X Leveraged ETN | -22.92% | 25.49% | 101.65% | 240.10% | -71.55% | 13.51% |
BULZ MicroSectors Solactive FANG & Innovation 3X Leveraged ETN | -28.68% | 60.09% | 54.09% | 394.22% | -92.26% | 12.62% |
Returns By Period
In the year-to-date period, FNGO achieves a -22.92% return, which is significantly higher than BULZ's -28.68% return.
FNGO
- 1D
- 2.95%
- 1M
- -8.44%
- YTD
- -22.92%
- 6M
- -28.65%
- 1Y
- 28.52%
- 3Y*
- 52.54%
- 5Y*
- 18.17%
- 10Y*
- —
BULZ
- 1D
- 5.23%
- 1M
- -12.77%
- YTD
- -28.68%
- 6M
- -31.57%
- 1Y
- 72.81%
- 3Y*
- 59.06%
- 5Y*
- —
- 10Y*
- —
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FNGO vs. BULZ - Expense Ratio Comparison
Both FNGO and BULZ have an expense ratio of 0.95%.
Return for Risk
FNGO vs. BULZ — Risk / Return Rank
FNGO
BULZ
FNGO vs. BULZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+ Index 2X Leveraged ETN (FNGO) and MicroSectors Solactive FANG & Innovation 3X Leveraged ETN (BULZ). 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.
| FNGO | BULZ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.53 | 0.79 | -0.27 |
Sortino ratioReturn per unit of downside risk | 1.16 | 1.58 | -0.43 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.22 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 0.74 | 1.43 | -0.69 |
Martin ratioReturn relative to average drawdown | 2.08 | 3.83 | -1.75 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FNGO | BULZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.53 | 0.79 | -0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.30 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | -0.06 | +0.59 |
Correlation
The correlation between FNGO and BULZ is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FNGO vs. BULZ - Dividend Comparison
Neither FNGO nor BULZ has paid dividends to shareholders.
Drawdowns
FNGO vs. BULZ - Drawdown Comparison
The maximum FNGO drawdown since its inception was -78.39%, smaller than the maximum BULZ drawdown of -94.44%. Use the drawdown chart below to compare losses from any high point for FNGO and BULZ.
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Drawdown Indicators
| FNGO | BULZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.39% | -94.44% | +16.05% |
Max Drawdown (1Y)Largest decline over 1 year | -42.73% | -54.22% | +11.49% |
Max Drawdown (5Y)Largest decline over 5 years | -78.39% | — | — |
Current DrawdownCurrent decline from peak | -35.78% | -46.52% | +10.74% |
Average DrawdownAverage peak-to-trough decline | -24.17% | -60.15% | +35.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.17% | 20.25% | -5.08% |
Volatility
FNGO vs. BULZ - Volatility Comparison
The current volatility for MicroSectors FANG+ Index 2X Leveraged ETN (FNGO) is 16.20%, while MicroSectors Solactive FANG & Innovation 3X Leveraged ETN (BULZ) has a volatility of 29.26%. This indicates that FNGO experiences smaller price fluctuations and is considered to be less risky than BULZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNGO | BULZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.20% | 29.26% | -13.06% |
Volatility (6M)Calculated over the trailing 6-month period | 30.54% | 60.63% | -30.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.60% | 92.48% | -37.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.29% | 91.56% | -31.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.90% | 91.56% | -29.66% |