FNGO vs. PHYL

Last updated Jun 4, 2026

FNGO (MicroSectors FANG+ Index 2X Leveraged ETN) and PHYL (PGIM Active High Yield Bond ETF) are both exchange-traded funds - FNGO is a Leveraged Equities fund tracking the NYSE FANG+ Index (+200%), while PHYL is a High Yield Bonds fund actively managed by Prudential. FNGO is passively managed, while PHYL is actively managed. Over the past 5 years, FNGO returned 30.44%/yr vs 4.01%/yr for PHYL. A 0.51 correlation means they provide meaningful diversification when combined. FNGO charges 0.95%/yr vs 0.53%/yr for PHYL.

Performance

FNGO vs. PHYL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG+ Index 2X Leveraged ETN (FNGO) and PGIM Active High Yield Bond ETF (PHYL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNGO achieves a 29.63% return, which is significantly higher than PHYL's 1.36% return.

FNGO

• 1D: -2.35%
• 1M: 23.13%
• YTD: 29.63%
• 6M: 17.47%
• 1Y: 54.81%
• 3Y*: 62.64%
• 5Y*: 30.44%
• 10Y*: —

PHYL

• 1D: -0.26%
• 1M: 0.25%
• YTD: 1.36%
• 6M: 1.93%
• 1Y: 7.43%
• 3Y*: 9.08%
• 5Y*: 4.01%
• 10Y*: —

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

FNGO vs. PHYL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FNGO MicroSectors FANG+ Index 2X Leveraged ETN	29.63%	25.49%	101.65%	240.10%	-71.55%	28.38%	238.00%	79.61%	-37.41%
PHYL PGIM Active High Yield Bond ETF	1.36%	9.65%	8.45%	11.91%	-11.80%	6.20%	6.31%	16.77%	-4.15%

Correlation

The correlation between FNGO and PHYL is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (All Time) Calculated using the full available price history since Sep 28, 2018	0.51

The correlation between FNGO and PHYL has been stable across timeframes, ranging from 0.46 to 0.51 - a consistent structural relationship.

FNGO vs. PHYL - Sectors Allocation Comparison

Sectors	FNGO	PHYL
Technology	59.9%	-
Communication Services	28.8%	41.1%
Consumer Cyclical	11.3%	-
Financial Services	10.0%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	59.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

FNGO vs. PHYL — Risk / Return Rank

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

FNGO

FNGO Risk / Return Rank: 32
FNGO Sharpe Ratio Rank: 38
FNGO Sortino Ratio Rank: 36
FNGO Omega Ratio Rank: 35
FNGO Calmar Ratio Rank: 26
FNGO Martin Ratio Rank: 25

PHYL

PHYL Risk / Return Rank: 69
PHYL Sharpe Ratio Rank: 69
PHYL Sortino Ratio Rank: 75
PHYL Omega Ratio Rank: 78
PHYL Calmar Ratio Rank: 56
PHYL Martin Ratio Rank: 69

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. PHYL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+ Index 2X Leveraged ETN (FNGO) and PGIM Active High Yield Bond ETF (PHYL). 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	PHYL	Difference
Sharpe ratio Return per unit of total volatility	1.39	2.30	-0.90
Sortino ratio Return per unit of downside risk	1.94	3.40	-1.46
Omega ratio Gain probability vs. loss probability	1.24	1.47	-0.23
Calmar ratio Return relative to maximum drawdown	1.29	2.79	-1.50
Martin ratio Return relative to average drawdown	3.39	12.75	-9.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNGO vs. PHYL - Sharpe Ratio Comparison

The current FNGO Sharpe Ratio is 1.39, which is lower than the PHYL Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of FNGO and PHYL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FNGO	PHYL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.39	2.30	-0.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.71	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.71	-0.05

Drawdowns

FNGO vs. PHYL - Drawdown Comparison

The maximum FNGO drawdown since its inception was -78.39%, which is greater than PHYL's maximum drawdown of -22.07%. Use the drawdown chart below to compare losses from any high point for FNGO and PHYL.

Drawdown Indicators

	FNGO	PHYL	Difference
Max Drawdown Largest peak-to-trough decline	-78.39%	-22.07%	-56.32%
Max Drawdown (1Y) Largest decline over 1 year	-42.73%	-2.68%	-40.05%
Max Drawdown (3Y) Largest decline over 3 years	-47.64%	-4.53%	-43.11%
Max Drawdown (5Y) Largest decline over 5 years	-78.39%	-16.11%	-62.28%
Current Drawdown Current decline from peak	-2.94%	-0.30%	-2.64%
Average Drawdown Average peak-to-trough decline	-23.91%	-3.07%	-20.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.21%	0.58%	+15.63%

Volatility

FNGO vs. PHYL - Volatility Comparison

MicroSectors FANG+ Index 2X Leveraged ETN (FNGO) has a higher volatility of 11.29% compared to PGIM Active High Yield Bond ETF (PHYL) at 1.08%. This indicates that FNGO's price experiences larger fluctuations and is considered to be riskier than PHYL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNGO	PHYL	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.29%	1.08%	+10.21%
Volatility (6M) Calculated over the trailing 6-month period	30.58%	2.59%	+27.99%
Volatility (1Y) Calculated over the trailing 1-year period	39.56%	3.26%	+36.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.24%	5.68%	+54.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.54%	7.66%	+53.88%

FNGO vs. PHYL - Expense Ratio Comparison

FNGO has a 0.95% expense ratio, which is higher than PHYL's 0.53% expense ratio.

Dividends

FNGO vs. PHYL - Dividend Comparison

FNGO has not paid dividends to shareholders, while PHYL's dividend yield for the trailing twelve months is around 7.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FNGO MicroSectors FANG+ Index 2X Leveraged ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PHYL PGIM Active High Yield Bond ETF	7.01%	7.05%	8.28%	7.62%	6.55%	6.13%	7.51%	7.31%	1.79%

Frequently Asked Questions

Can I hold both FNGO and PHYL in my portfolio?

FNGO and PHYL have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNGO or PHYL?

FNGO has higher volatility (11.29%) compared to PHYL (1.08%). In terms of maximum drawdown, FNGO dropped -78.39% vs PHYL's -22.07%.

Which ETF is better, FNGO or PHYL?

On 5-year performance, FNGO leads with 30.44% vs 4.01% for PHYL. On fees, PHYL is cheaper at 0.53% per year. On volatility, PHYL has been the lower-risk option at 1.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNGO or PHYL?

Over the 5-year period, FNGO has performed better with a 30.44% return vs 4.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNGO or PHYL?

PHYL is cheaper with a 0.53% expense ratio, compared with 0.95% for FNGO.

Which ETF pays a higher dividend yield, FNGO or PHYL?

PHYL has the higher dividend yield at 7.01%, compared with 0.00% for FNGO.

What is the main difference between FNGO and PHYL?

FNGO is categorized as Leveraged Equities, while PHYL is High Yield Bonds. They also come from different issuers: Bank of Montreal and Prudential. Their fees differ too: 0.95% for FNGO and 0.53% for PHYL.

Which has better risk-adjusted returns?

PHYL currently has the higher Sharpe Ratio (2.30 vs 1.39), 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.