FNGS vs. IYW
FNGS (MicroSectors FANG+ ETN) and IYW (iShares U.S. Technology ETF) are both exchange-traded funds - FNGS is a Large Cap Growth Equities fund tracking the NYSE FANG+ Index, while IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index. Both are passively managed. Over the past 5 years, FNGS returned 19.76%/yr vs 21.19%/yr for IYW. Their correlation of 0.89 suggests significant overlap in exposure. FNGS charges 0.58%/yr vs 0.38%/yr for IYW.
Performance
FNGS vs. IYW - Performance Comparison
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Returns By Period
In the year-to-date period, FNGS achieves a 6.79% return, which is significantly lower than IYW's 22.66% return.
FNGS
- 1D
- -0.94%
- 1M
- -3.20%
- YTD
- 6.79%
- 6M
- 4.25%
- 1Y
- 17.02%
- 3Y*
- 29.80%
- 5Y*
- 19.76%
- 10Y*
- —
IYW
- 1D
- 0.61%
- 1M
- 1.73%
- YTD
- 22.66%
- 6M
- 23.40%
- 1Y
- 47.94%
- 3Y*
- 32.06%
- 5Y*
- 21.19%
- 10Y*
- 25.63%
FNGS vs. IYW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FNGS MicroSectors FANG+ ETN | 6.79% | 18.64% | 51.99% | 95.24% | -40.32% | 16.96% | 101.99% | 10.10% |
IYW iShares U.S. Technology ETF | 22.66% | 25.38% | 30.25% | 65.44% | -34.83% | 35.44% | 47.45% | 5.94% |
Correlation
The correlation between FNGS and IYW is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2019 | 0.89 |
The correlation between FNGS and IYW has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.
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Return for Risk
FNGS vs. IYW — Risk / Return Rank
FNGS
IYW
FNGS vs. IYW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+ ETN (FNGS) and iShares U.S. Technology ETF (IYW). 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 | IYW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.45 | ||
| Sortino ratioReturn per unit of downside risk | -1.63 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.38 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | 2.70 | -1.96 |
| Martin ratioReturn relative to average drawdown | 2.12 | 8.68 | -6.56 |
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Drawdowns
FNGS vs. IYW - Drawdown Comparison
The maximum FNGS drawdown since its inception was -48.98%, smaller than the maximum IYW drawdown of -81.90%. Use the drawdown chart below to compare losses from any high point for FNGS and IYW.
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Drawdown Indicators
| FNGS | IYW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.98% | -81.90% | +32.92% |
Max Drawdown (1Y)Largest decline over 1 year | -22.93% | -17.81% | -5.12% |
Max Drawdown (3Y)Largest decline over 3 years | -26.77% | -26.47% | -0.30% |
Max Drawdown (5Y)Largest decline over 5 years | -48.98% | -39.44% | -9.54% |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.44% | — |
Current DrawdownCurrent decline from peak | -9.63% | -5.81% | -3.82% |
Average DrawdownAverage peak-to-trough decline | -10.85% | -34.62% | +23.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.05% | 5.54% | +2.51% |
Volatility
FNGS vs. IYW - Volatility Comparison
The current volatility for MicroSectors FANG+ ETN (FNGS) is 8.74%, while iShares U.S. Technology ETF (IYW) has a volatility of 9.41%. This indicates that FNGS experiences smaller price fluctuations and is considered to be less risky than IYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNGS | IYW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.74% | 9.41% | -0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 17.19% | 17.67% | -0.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.65% | 21.47% | +0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.10% | 26.07% | +4.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.17% | 25.20% | +5.97% |
FNGS vs. IYW - Expense Ratio Comparison
FNGS has a 0.58% expense ratio, which is higher than IYW's 0.38% expense ratio.
Dividends
FNGS vs. IYW - Dividend Comparison
FNGS has not paid dividends to shareholders, while IYW's dividend yield for the trailing twelve months is around 0.11%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IYW iShares U.S. Technology ETF | 0.11% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
Frequently Asked Questions
FNGS and IYW have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYW has higher volatility (9.41%) compared to FNGS (8.74%). In terms of maximum drawdown, FNGS dropped -48.98% vs IYW's -81.90%.
On 5-year performance, IYW leads with 21.19% vs 19.76% for FNGS. On fees, IYW is cheaper at 0.38% 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 5-year period, IYW has performed better with a 21.19% return vs 19.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYW is cheaper with a 0.38% expense ratio, compared with 0.58% for FNGS.
IYW has the higher dividend yield at 0.11%, compared with 0.00% for FNGS.
FNGS is categorized as Large Cap Growth Equities, while IYW is Technology Equities. FNGS tracks NYSE FANG+ Index, while IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index. They also come from different issuers: BMO and iShares. Their fees differ too: 0.58% for FNGS and 0.38% for IYW.
IYW currently has the higher Sharpe Ratio (2.24 vs 0.79), 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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