FNGO vs. MAGY

Last updated Apr 2, 2026

Compare and contrast key facts about MicroSectors FANG+ Index 2X Leveraged ETN (FNGO) and Roundhill Magnificent Seven Covered Call ETF (MAGY).

FNGO and MAGY 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. MAGY is an actively managed fund by Roundhill. It was launched on Apr 23, 2025.

Performance

FNGO vs. MAGY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG+ Index 2X Leveraged ETN (FNGO) and Roundhill Magnificent Seven Covered Call ETF (MAGY). The values are adjusted to include any dividend payments, if applicable.

FNGO vs. MAGY - Yearly Performance Comparison

	2026 (YTD)	2025
FNGO MicroSectors FANG+ Index 2X Leveraged ETN	-22.92%	76.16%
MAGY Roundhill Magnificent Seven Covered Call ETF	-9.17%	26.79%

Returns By Period

In the year-to-date period, FNGO achieves a -22.92% return, which is significantly lower than MAGY's -9.17% return.

FNGO

• 1D: 2.95%
• 1M: -8.44%
• YTD: -22.92%
• 6M: -28.65%
• 1Y: 28.52%
• 3Y*: 52.54%
• 5Y*: 18.17%
• 10Y*: —

MAGY

• 1D: 0.52%
• 1M: -4.67%
• YTD: -9.17%
• 6M: -7.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FNGO vs. MAGY - Expense Ratio Comparison

FNGO has a 0.95% expense ratio, which is lower than MAGY's 0.99% expense ratio.

MAGY

Roundhill Magnificent Seven Covered Call ETF

FNGO

MicroSectors FANG+ Index 2X Leveraged ETN

Return for Risk

FNGO vs. MAGY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FNGO

FNGO Risk / Return Rank: 31
FNGO Sharpe Ratio Rank: 27
FNGO Sortino Ratio Rank: 39
FNGO Omega Ratio Rank: 36
FNGO Calmar Ratio Rank: 29
FNGO Martin Ratio Rank: 26

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.

FNGO vs. MAGY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+ Index 2X Leveraged ETN (FNGO) and Roundhill Magnificent Seven Covered Call ETF (MAGY). 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	MAGY	Difference
Sharpe ratio Return per unit of total volatility	0.53	—	—
Sortino ratio Return per unit of downside risk	1.16	—	—
Omega ratio Gain probability vs. loss probability	1.15	—	—
Calmar ratio Return relative to maximum drawdown	0.74	—	—
Martin ratio Return relative to average drawdown	2.08	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FNGO	MAGY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.53	—	—
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	1.10	-0.57

Correlation

The correlation between FNGO and MAGY is 0.76, 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. MAGY - Dividend Comparison

FNGO has not paid dividends to shareholders, while MAGY's dividend yield for the trailing twelve months is around 36.95%.

	TTM	2025
FNGO MicroSectors FANG+ Index 2X Leveraged ETN	0.00%	0.00%
MAGY Roundhill Magnificent Seven Covered Call ETF	36.95%	23.38%

Drawdowns

FNGO vs. MAGY - Drawdown Comparison

The maximum FNGO drawdown since its inception was -78.39%, which is greater than MAGY's maximum drawdown of -14.29%. Use the drawdown chart below to compare losses from any high point for FNGO and MAGY.

Drawdown Indicators

	FNGO	MAGY	Difference
Max Drawdown Largest peak-to-trough decline	-78.39%	-14.29%	-64.10%
Max Drawdown (1Y) Largest decline over 1 year	-42.73%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-78.39%	—	—
Current Drawdown Current decline from peak	-35.78%	-11.14%	-24.64%
Average Drawdown Average peak-to-trough decline	-24.17%	-2.24%	-21.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.17%	—	—

Volatility

Volatility by Period

	FNGO	MAGY	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.20%	—	—
Volatility (6M) Calculated over the trailing 6-month period	30.54%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	54.60%	14.84%	+39.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.29%	14.84%	+45.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.90%	14.84%	+47.06%