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.
Performance
FNGO vs. TQQQ - Performance Comparison
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FNGO vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FNGO MicroSectors FANG+ Index 2X Leveraged ETN | -22.92% | 25.49% | 101.65% | 240.10% | -71.55% | 28.38% | 238.00% | 79.61% | -40.52% |
TQQQ ProShares UltraPro QQQ | -17.87% | 34.35% | 58.27% | 198.04% | -79.09% | 82.98% | 110.05% | 133.84% | -42.72% |
Returns By Period
In the year-to-date period, FNGO achieves a -22.92% return, which is significantly lower than TQQQ's -17.87% return.
FNGO
- 1D
- 2.95%
- 1M
- -8.44%
- YTD
- -22.92%
- 6M
- -28.65%
- 1Y
- 28.52%
- 3Y*
- 52.54%
- 5Y*
- 18.17%
- 10Y*
- —
TQQQ
- 1D
- 3.72%
- 1M
- -12.88%
- YTD
- -17.87%
- 6M
- -17.28%
- 1Y
- 48.52%
- 3Y*
- 46.87%
- 5Y*
- 13.55%
- 10Y*
- 35.31%
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FNGO vs. TQQQ - Expense Ratio Comparison
Both FNGO and TQQQ have an expense ratio of 0.95%.
Return for Risk
FNGO vs. TQQQ — Risk / Return Rank
FNGO
TQQQ
FNGO vs. TQQQ - Risk-Adjusted Trends 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.
| FNGO | TQQQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.53 | 0.72 | -0.20 |
Sortino ratioReturn per unit of downside risk | 1.16 | 1.41 | -0.25 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.20 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 0.74 | 1.41 | -0.67 |
Martin ratioReturn relative to average drawdown | 2.08 | 4.28 | -2.20 |
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 | TQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.53 | 0.72 | -0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.30 | 0.20 | +0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.54 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.65 | -0.11 |
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.
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 0.73%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
TQQQ ProShares UltraPro QQQ | 0.73% | 0.65% | 1.27% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% |
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.
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Drawdown Indicators
| FNGO | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.39% | -81.66% | +3.27% |
Max Drawdown (1Y)Largest decline over 1 year | -42.73% | -36.97% | -5.76% |
Max Drawdown (5Y)Largest decline over 5 years | -78.39% | -81.66% | +3.27% |
Max Drawdown (10Y)Largest decline over 10 years | — | -81.66% | — |
Current DrawdownCurrent decline from peak | -35.78% | -28.08% | -7.70% |
Average DrawdownAverage peak-to-trough decline | -24.17% | -18.66% | -5.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.17% | 12.13% | +3.04% |
Volatility
FNGO vs. TQQQ - Volatility Comparison
The current volatility for MicroSectors FANG+ Index 2X Leveraged ETN (FNGO) is 16.20%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 19.74%. 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.
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Volatility by Period
| FNGO | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.20% | 19.74% | -3.54% |
Volatility (6M)Calculated over the trailing 6-month period | 30.54% | 38.50% | -7.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.60% | 67.35% | -12.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.29% | 66.53% | -6.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.90% | 65.83% | -3.93% |