FNGO vs. TQQQ
Compare and contrast key facts about MicroSectors FANG+ Index 2X Leveraged ETN (FNGO) and ProShares UltraPro QQQ (TQQQ).
FNGO and TQQQ 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. TQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (300%). It was launched on Feb 9, 2010. Both FNGO and TQQQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FNGO or TQQQ.
Performance
FNGO vs. TQQQ - Performance Comparison
Returns By Period
In the year-to-date period, FNGO achieves a 80.09% return, which is significantly higher than TQQQ's 53.90% return.
FNGO
80.09%
7.35%
31.26%
97.97%
55.67%
N/A
TQQQ
53.90%
2.86%
20.48%
78.56%
34.01%
34.56%
Key characteristics
| FNGO | TQQQ | |
|---|---|---|
| Sharpe Ratio | 2.02 | 1.45 |
| Sortino Ratio | 2.42 | 1.93 |
| Omega Ratio | 1.32 | 1.26 |
| Calmar Ratio | 2.88 | 1.47 |
| Martin Ratio | 8.49 | 6.04 |
| Ulcer Index | 11.36% | 12.47% |
| Daily Std Dev | 47.84% | 51.83% |
| Max Drawdown | -78.39% | -81.66% |
| Current Drawdown | -3.05% | -9.94% |
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FNGO vs. TQQQ - Expense Ratio Comparison
Both FNGO and TQQQ have an expense ratio of 0.95%.
Correlation
The correlation between FNGO and TQQQ is 0.88, 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.
Risk-Adjusted Performance
FNGO vs. TQQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+ Index 2X Leveraged ETN (FNGO) and ProShares UltraPro QQQ (TQQQ). 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.
Dividends
FNGO vs. TQQQ - Dividend Comparison
FNGO has not paid dividends to shareholders, while TQQQ's dividend yield for the trailing twelve months is around 1.23%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
TQQQ ProShares UltraPro QQQ | 1.23% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% | 0.03% |
Drawdowns
FNGO vs. TQQQ - Drawdown Comparison
The maximum FNGO drawdown since its inception was -78.39%, roughly equal to the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for FNGO and TQQQ. For additional features, visit the drawdowns tool.
Volatility
FNGO vs. TQQQ - Volatility Comparison
The current volatility for MicroSectors FANG+ Index 2X Leveraged ETN (FNGO) is 13.60%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 17.03%. This indicates that FNGO experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.