FNGO vs. GEMG
FNGO (MicroSectors FANG+ Index 2X Leveraged ETN) and GEMG (Leverage Shares 2X Long GEMI Daily ETF) are both Leveraged Equities funds. FNGO is passively managed, while GEMG is actively managed. At a 0.42 correlation, their price movements are largely independent. FNGO charges 0.95%/yr vs 0.75%/yr for GEMG.
Performance
FNGO vs. GEMG - Performance Comparison
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Returns By Period
In the year-to-date period, FNGO achieves a 6.64% return, which is significantly higher than GEMG's -89.02% return.
FNGO
- 1D
- -4.61%
- 1M
- -6.82%
- YTD
- 6.64%
- 6M
- 2.85%
- 1Y
- 25.87%
- 3Y*
- 48.86%
- 5Y*
- 22.32%
- 10Y*
- —
GEMG
- 1D
- -6.14%
- 1M
- -33.52%
- YTD
- -89.02%
- 6M
- -91.24%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FNGO vs. GEMG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FNGO MicroSectors FANG+ Index 2X Leveraged ETN | 6.64% | -11.42% |
GEMG Leverage Shares 2X Long GEMI Daily ETF | -89.02% | -71.91% |
Correlation
The correlation between FNGO and GEMG is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 5, 2025 | 0.42 |
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Return for Risk
FNGO vs. GEMG — Risk / Return Rank
FNGO
GEMG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FNGO vs. GEMG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+ Index 2X Leveraged ETN (FNGO) and Leverage Shares 2X Long GEMI Daily ETF (GEMG). 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.
| FNGO | GEMG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.13 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.61 | — | — |
| Martin ratioReturn relative to average drawdown | 1.56 | — | — |
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Drawdowns
FNGO vs. GEMG - Drawdown Comparison
The maximum FNGO drawdown since its inception was -78.39%, smaller than the maximum GEMG drawdown of -97.26%. Use the drawdown chart below to compare losses from any high point for FNGO and GEMG.
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Drawdown Indicators
| FNGO | GEMG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.39% | -97.26% | +18.87% |
Max Drawdown (1Y)Largest decline over 1 year | -42.73% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -47.64% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -78.39% | — | — |
Current DrawdownCurrent decline from peak | -20.15% | -97.10% | +76.95% |
Average DrawdownAverage peak-to-trough decline | -23.84% | -81.17% | +57.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.61% | — | — |
Volatility
FNGO vs. GEMG - Volatility Comparison
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Volatility by Period
| FNGO | GEMG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.56% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 35.31% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 43.90% | 219.33% | -175.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.80% | 219.33% | -158.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.71% | 219.33% | -157.62% |
FNGO vs. GEMG - Expense Ratio Comparison
FNGO has a 0.95% expense ratio, which is higher than GEMG's 0.75% expense ratio.
Dividends
FNGO vs. GEMG - Dividend Comparison
Neither FNGO nor GEMG has paid dividends to shareholders.
Frequently Asked Questions
FNGO and GEMG have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GEMG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GEMG is cheaper with a 0.75% expense ratio, compared with 0.95% for FNGO.
FNGO and GEMG have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Bank of Montreal and Leverage Shares. Their fees differ too: 0.95% for FNGO and 0.75% for GEMG.
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