FNGS vs. IBIT
FNGS (MicroSectors FANG+ ETN) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - FNGS is a Large Cap Growth Equities fund tracking the NYSE FANG+ Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, FNGS returned 17.02% vs -40.63% for IBIT. At a 0.36 correlation, their price movements are largely independent. FNGS charges 0.58%/yr vs 0.25%/yr for IBIT.
Performance
FNGS vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, FNGS achieves a 6.79% return, which is significantly higher than IBIT's -27.41% return.
FNGS
- 1D
- -0.94%
- 1M
- -3.20%
- YTD
- 6.79%
- 6M
- 4.25%
- 1Y
- 17.02%
- 3Y*
- 29.80%
- 5Y*
- 19.76%
- 10Y*
- —
IBIT
- 1D
- -0.03%
- 1M
- -20.12%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -40.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FNGS vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FNGS MicroSectors FANG+ ETN | 6.79% | 18.64% | 50.91% |
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
Correlation
The correlation between FNGS and IBIT is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.36 |
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Return for Risk
FNGS vs. IBIT — Risk / Return Rank
FNGS
IBIT
FNGS vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+ ETN (FNGS) and iShares Bitcoin Trust ETF (IBIT). 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.
| FNGS | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.71 | ||
| Sortino ratioReturn per unit of downside risk | +2.49 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.85 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | -0.78 | +1.53 |
| Martin ratioReturn relative to average drawdown | 2.12 | -1.37 | +3.49 |
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Drawdowns
FNGS vs. IBIT - Drawdown Comparison
The maximum FNGS drawdown since its inception was -48.98%, smaller than the maximum IBIT drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for FNGS and IBIT.
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Drawdown Indicators
| FNGS | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.98% | -52.11% | +3.13% |
Max Drawdown (1Y)Largest decline over 1 year | -22.93% | -52.11% | +29.18% |
Max Drawdown (3Y)Largest decline over 3 years | -26.77% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -48.98% | — | — |
Current DrawdownCurrent decline from peak | -9.63% | -49.45% | +39.82% |
Average DrawdownAverage peak-to-trough decline | -10.85% | -16.53% | +5.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.05% | 29.64% | -21.59% |
Volatility
FNGS vs. IBIT - Volatility Comparison
The current volatility for MicroSectors FANG+ ETN (FNGS) is 8.74%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 12.07%. This indicates that FNGS experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNGS | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.74% | 12.07% | -3.33% |
Volatility (6M)Calculated over the trailing 6-month period | 17.19% | 34.45% | -17.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.65% | 44.10% | -22.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.10% | 50.26% | -20.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.17% | 50.26% | -19.09% |
FNGS vs. IBIT - Expense Ratio Comparison
FNGS has a 0.58% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
FNGS vs. IBIT - Dividend Comparison
Neither FNGS nor IBIT has paid dividends to shareholders.
Frequently Asked Questions
FNGS and IBIT have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (12.07%) compared to FNGS (8.74%). In terms of maximum drawdown, FNGS dropped -48.98% vs IBIT's -52.11%.
On 1-year performance, FNGS leads with 17.02% vs -40.63% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, FNGS has been the lower-risk option at 8.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FNGS has performed better with a 17.02% return vs -40.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.58% for FNGS.
FNGS and IBIT have nearly identical dividend yields, around 0.00%.
FNGS is categorized as Large Cap Growth Equities, while IBIT is Cryptocurrency. FNGS tracks NYSE FANG+ Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. They also come from different issuers: BMO and iShares. Their fees differ too: 0.58% for FNGS and 0.25% for IBIT.
FNGS currently has the higher Sharpe Ratio (0.79 vs -0.92), 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.
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