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FNGS vs. ILCB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FNGS vs. ILCB

Last updated Aug 2, 2026
Documentation

FNGS (MicroSectors FANG+ ETN) and ILCB (iShares Morningstar U.S. Equity ETF) are both Large Cap Growth Equities funds - FNGS tracks the NYSE FANG+ Index while ILCB tracks the Morningstar US Large-Mid Cap Index. Both are passively managed. Over the past 5 years, FNGS returned 18.98%/yr vs 12.26%/yr for ILCB. Their 0.78 correlation means they have sometimes moved together and sometimes differently. FNGS charges 0.58%/yr vs 0.03%/yr for ILCB.

Performance

FNGS vs. ILCB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG+ ETN (FNGS) and iShares Morningstar U.S. Equity ETF (ILCB). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FNGS achieves a 9.02% return, which is significantly lower than ILCB's 10.04% return.

FNGS

1D
1.63%
1M
0.59%
6M
12.42%
YTD
9.02%
1Y
15.45%
3Y*
28.64%
5Y*
18.98%
10Y*
—
ALL TIME*
30.45%

ILCB

1D
0.68%
1M
0.02%
6M
8.59%
YTD
10.04%
1Y
21.14%
3Y*
19.48%
5Y*
12.26%
10Y*
14.38%
ALL TIME*
11.16%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

FNGS

MicroSectors FANG+ ETN
$1.57M$1.92M$2.40M

ILCB

iShares Morningstar U.S. Equity ETF
$856.67K$1.50M$1.33M

FNGS vs. ILCB - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
FNGS
MicroSectors FANG+ ETN		9.02%18.64%51.99%95.24%-40.32%16.96%101.99%10.10%
ILCB
iShares Morningstar U.S. Equity ETF		10.04%17.70%24.96%26.91%-19.48%24.07%19.40%4.86%

Correlation

The correlation between FNGS and ILCB is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.80

Correlation (3Y)
Balances recent behavior with more history.

0.80

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.82

Correlation (All Time)
Calculated using the full available price history since Nov 13, 2019

0.78

The correlation between FNGS and ILCB has been stable across timeframes, ranging from 0.78 to 0.82 - a consistent structural relationship.

FNGS vs. ILCB - Sectors Allocation Comparison

Sectors
FNGS
ILCB

Technology

59.6%
38.4%

Communication Services

30.0%
9.8%

Consumer Cyclical

10.4%
9.4%

Financial Services

10.0%
11.4%

Basic Materials

-

1.8%

Consumer Defensive

-

4.4%

Energy

-

3.1%

Healthcare

-

9.0%

Industrials

-

8.9%

Real Estate

-

1.7%

Utilities

-

2.2%

Technology

FNGS
59.6%
ILCB
38.4%

Communication Services

FNGS
30.0%
ILCB
9.8%

Consumer Cyclical

FNGS
10.4%
ILCB
9.4%

Financial Services

FNGS
10.0%
ILCB
11.4%

Basic Materials

FNGS

-

ILCB
1.8%

Consumer Defensive

FNGS

-

ILCB
4.4%

Energy

FNGS

-

ILCB
3.1%

Healthcare

FNGS

-

ILCB
9.0%

Industrials

FNGS

-

ILCB
8.9%

Real Estate

FNGS

-

ILCB
1.7%

Utilities

FNGS

-

ILCB
2.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

MicroSectors FANG+ ETN

iShares Morningstar U.S. Equity ETF

Often compared with FNGS:
FNGS vs. MAGSFNGS vs. SPYFNGS vs. QQQFNGS vs. FNGOFNGS vs. QLDFNGS vs. SMHFNGS vs. MON100.NS
Often compared with ILCB:
ILCB vs. ILCGILCB vs. VOOILCB vs. IVVILCB vs. SPYILCB vs. SCHBILCB vs. VTIILCB vs. BBUS

Return for Risk

FNGS vs. ILCB — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
FNGS
FNGS Risk / Return Rank: 2222
Overall Rank
FNGS Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
FNGS Sortino Ratio Rank: 2323
Sortino Ratio Rank
FNGS Omega Ratio Rank: 2323
Omega Ratio Rank
FNGS Calmar Ratio Rank: 2020
Calmar Ratio Rank
FNGS Martin Ratio Rank: 2121
Martin Ratio Rank
ILCB
ILCB Risk / Return Rank: 6464
Overall Rank
ILCB Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
ILCB Sortino Ratio Rank: 6161
Sortino Ratio Rank
ILCB Omega Ratio Rank: 6262
Omega Ratio Rank
ILCB Calmar Ratio Rank: 6060
Calmar Ratio Rank
ILCB Martin Ratio Rank: 7373
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FNGS vs. ILCB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+ ETN (FNGS) and iShares Morningstar U.S. Equity ETF (ILCB). 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.

FNGSILCBDifference
Sharpe ratioReturn per unit of total volatility
0.52
1.48

-0.96

Sortino ratioReturn per unit of downside risk
0.86
2.07

-1.21

Omega ratioGain probability vs. loss probability

1.10

1.26

-0.16

Calmar ratioReturn relative to maximum drawdown

0.51

2.12

-1.60

Martin ratioReturn relative to average drawdown

1.37

8.94

-7.57

FNGS vs. ILCB - Sharpe Ratio Comparison

The current FNGS Sharpe Ratio is 0.52, which is lower than the ILCB Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of FNGS and ILCB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FNGS vs. ILCB - Drawdown Comparison

The maximum FNGS drawdown since its inception was -48.98%, roughly equal to the maximum ILCB drawdown of -51.53%. Use the drawdown chart below to compare losses from any high point for FNGS and ILCB.

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Drawdown Indicators

FNGSILCBDifference

Max Drawdown

Largest peak-to-trough decline

-48.98%

-51.53%

+2.55%

Max Drawdown (1Y)

Largest decline over 1 year

-22.93%

-9.09%

-13.84%

Max Drawdown (3Y)

Largest decline over 3 years

-26.77%

-19.05%

-7.72%

Max Drawdown (5Y)

Largest decline over 5 years

-48.98%

-25.47%

-23.51%

Max Drawdown (10Y)

Largest decline over 10 years

—

-35.30%

—

Current Drawdown

Current decline from peak

-7.74%

-1.64%

-6.10%

Average Drawdown

Average peak-to-trough decline

-10.80%

-6.21%

-4.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.61%

2.15%

+6.46%

Volatility

FNGS vs. ILCB - Volatility Comparison

MicroSectors FANG+ ETN (FNGS) has a higher volatility of 5.87% compared to iShares Morningstar U.S. Equity ETF (ILCB) at 3.59%. This indicates that FNGS's price experiences larger fluctuations and is considered to be riskier than ILCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FNGSILCBDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.87%

3.59%

+2.28%

Volatility (6M)

Calculated over the trailing 6-month period

18.36%

10.22%

+8.14%

Volatility (1Y)

Calculated over the trailing 1-year period

22.86%

13.01%

+9.85%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

30.29%

17.24%

+13.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

31.07%

18.18%

+12.89%

FNGS vs. ILCB - Expense Ratio Comparison

FNGS has a 0.58% expense ratio, which is higher than ILCB's 0.03% expense ratio.

Dividends

FNGS vs. ILCB - Dividend Comparison

FNGS has not paid dividends to shareholders, while ILCB's dividend yield for the trailing twelve months is around 0.98%.

PositionTTM20252024202320222021202020192018201720162015
FNGS
MicroSectors FANG+ 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%
ILCB
iShares Morningstar U.S. Equity ETF		0.98%1.11%1.19%1.43%1.65%1.16%1.26%2.25%2.17%1.81%1.97%2.44%

Frequently Asked Questions

FNGS and ILCB have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FNGS has higher volatility (5.87%) compared to ILCB (3.59%). In terms of maximum drawdown, FNGS dropped -48.98% vs ILCB's -51.53%.

On 5-year performance, FNGS leads with 18.98% vs 12.26% for ILCB. On fees, ILCB is cheaper at 0.03% per year. On volatility, ILCB has been the lower-risk option at 3.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FNGS has performed better with a 18.98% return vs 12.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ILCB is cheaper with a 0.03% expense ratio, compared with 0.58% for FNGS.

ILCB has the higher dividend yield at 0.98%, compared with 0.00% for FNGS.

FNGS tracks NYSE FANG+ Index, while ILCB tracks Morningstar US Large-Mid Cap Index. They also come from different issuers: BMO and iShares. Their fees differ too: 0.58% for FNGS and 0.03% for ILCB.

ILCB currently has the higher Sharpe Ratio (1.48 vs 0.52), 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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