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FNGS vs. JPXN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FNGS vs. JPXN

Last updated Jun 14, 2026

FNGS (MicroSectors FANG+ ETN) and JPXN (iShares JPX-Nikkei 400 ETF) are both exchange-traded funds - FNGS is a Large Cap Growth Equities fund tracking the NYSE FANG+ Index, while JPXN is a Japan Equities fund tracking the JPX-Nikkei Index 400. Both are passively managed. Over the past 5 years, FNGS returned 19.76%/yr vs 8.45%/yr for JPXN. A 0.50 correlation means they provide meaningful diversification when combined. FNGS charges 0.58%/yr vs 0.48%/yr for JPXN.

Performance

FNGS vs. JPXN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG+ ETN (FNGS) and iShares JPX-Nikkei 400 ETF (JPXN). 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 6.79% return, which is significantly lower than JPXN's 14.07% return.

FNGS

1D
-0.94%
1M
-3.68%
YTD
6.79%
6M
4.25%
1Y
19.09%
3Y*
29.80%
5Y*
19.76%
10Y*
—

JPXN

1D
0.64%
1M
-1.32%
YTD
14.07%
6M
13.60%
1Y
29.50%
3Y*
16.06%
5Y*
8.45%
10Y*
9.45%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FNGS vs. JPXN - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
FNGS
MicroSectors FANG+ ETN		6.79%18.64%51.99%95.24%-40.32%16.96%101.99%10.10%
JPXN
iShares JPX-Nikkei 400 ETF		14.07%26.03%6.48%19.69%-16.29%0.16%15.12%0.17%

Correlation

The correlation between FNGS and JPXN 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 (3Y)
Calculated over the trailing 3-year period

0.44

Correlation (5Y)
Calculated over the trailing 5-year period

0.51

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

0.50

The correlation between FNGS and JPXN has been stable across timeframes, ranging from 0.44 to 0.51 - a consistent structural relationship.

FNGS vs. JPXN - Sectors Allocation Comparison

Sectors
FNGS
JPXN

Technology

63.4%
20.4%

Communication Services

26.0%
6.7%

Consumer Cyclical

10.6%
10.9%

Financial Services

10.0%
14.1%

Basic Materials

-

5.1%

Consumer Defensive

-

4.5%

Energy

-

1.2%

Healthcare

-

6.2%

Industrials

-

26.2%

Real Estate

-

2.3%

Utilities

-

1.5%

Technology

FNGS
63.4%
JPXN
20.4%

Communication Services

FNGS
26.0%
JPXN
6.7%

Consumer Cyclical

FNGS
10.6%
JPXN
10.9%

Financial Services

FNGS
10.0%
JPXN
14.1%

Basic Materials

FNGS

-

JPXN
5.1%

Consumer Defensive

FNGS

-

JPXN
4.5%

Energy

FNGS

-

JPXN
1.2%

Healthcare

FNGS

-

JPXN
6.2%

Industrials

FNGS

-

JPXN
26.2%

Real Estate

FNGS

-

JPXN
2.3%

Utilities

FNGS

-

JPXN
1.5%

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 JPX-Nikkei 400 ETF

Often compared with FNGS:
FNGS vs. MAGSFNGS vs. SPYFNGS vs. QQQFNGS vs. FNGOFNGS vs. QLDFNGS vs. SMHFNGS vs. MON100.NS
Often compared with JPXN:
JPXN vs. EWJJPXN vs. DXJJPXN vs. FLJPJPXN vs. XDJP.DEJPXN vs. VOOJPXN vs. FJPNXJPXN vs. SCJ

Return for Risk

FNGS vs. JPXN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FNGS
FNGS Risk / Return Rank: 2323
Overall Rank
FNGS Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
FNGS Sortino Ratio Rank: 2424
Sortino Ratio Rank
FNGS Omega Ratio Rank: 2424
Omega Ratio Rank
FNGS Calmar Ratio Rank: 2020
Calmar Ratio Rank
FNGS Martin Ratio Rank: 2020
Martin Ratio Rank
JPXN
JPXN Risk / Return Rank: 5050
Overall Rank
JPXN Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
JPXN Sortino Ratio Rank: 5050
Sortino Ratio Rank
JPXN Omega Ratio Rank: 4949
Omega Ratio Rank
JPXN Calmar Ratio Rank: 5050
Calmar Ratio Rank
JPXN Martin Ratio Rank: 5050
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FNGS vs. JPXN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+ ETN (FNGS) and iShares JPX-Nikkei 400 ETF (JPXN). 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.

FNGSJPXNDifference
Sharpe ratioReturn per unit of total volatility
0.79
1.48

-0.69

Sortino ratioReturn per unit of downside risk
1.19
2.15

-0.96

Omega ratioGain probability vs. loss probability

1.15

1.27

-0.13

Calmar ratioReturn relative to maximum drawdown

0.75

2.18

-1.43

Martin ratioReturn relative to average drawdown

2.12

7.51

-5.39

FNGS vs. JPXN - Sharpe Ratio Comparison

The current FNGS Sharpe Ratio is 0.79, which is lower than the JPXN Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of FNGS and JPXN, 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. JPXN - Drawdown Comparison

The maximum FNGS drawdown since its inception was -48.98%, smaller than the maximum JPXN drawdown of -55.54%. Use the drawdown chart below to compare losses from any high point for FNGS and JPXN.

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Drawdown Indicators

FNGSJPXNDifference

Max Drawdown

Largest peak-to-trough decline

-48.98%

-55.54%

+6.56%

Max Drawdown (1Y)

Largest decline over 1 year

-22.93%

-13.11%

-9.82%

Max Drawdown (3Y)

Largest decline over 3 years

-26.77%

-13.95%

-12.82%

Max Drawdown (5Y)

Largest decline over 5 years

-48.98%

-33.21%

-15.77%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.21%

—

Current Drawdown

Current decline from peak

-9.63%

-2.34%

-7.29%

Average Drawdown

Average peak-to-trough decline

-10.85%

-15.04%

+4.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.05%

3.80%

+4.25%

Volatility

FNGS vs. JPXN - Volatility Comparison

MicroSectors FANG+ ETN (FNGS) has a higher volatility of 8.74% compared to iShares JPX-Nikkei 400 ETF (JPXN) at 5.70%. This indicates that FNGS's price experiences larger fluctuations and is considered to be riskier than JPXN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FNGSJPXNDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.74%

5.70%

+3.04%

Volatility (6M)

Calculated over the trailing 6-month period

17.19%

15.42%

+1.77%

Volatility (1Y)

Calculated over the trailing 1-year period

21.65%

19.35%

+2.30%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

30.10%

17.81%

+12.29%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

31.17%

17.10%

+14.07%

FNGS vs. JPXN - Expense Ratio Comparison

FNGS has a 0.58% expense ratio, which is higher than JPXN's 0.48% expense ratio.

Dividends

FNGS vs. JPXN - Dividend Comparison

FNGS has not paid dividends to shareholders, while JPXN's dividend yield for the trailing twelve months is around 2.76%.

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%
JPXN
iShares JPX-Nikkei 400 ETF		2.76%3.14%2.29%2.57%1.47%2.63%1.27%1.92%1.60%1.50%2.07%1.32%

Frequently Asked Questions

FNGS and JPXN 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.

FNGS has higher volatility (8.74%) compared to JPXN (5.70%). In terms of maximum drawdown, FNGS dropped -48.98% vs JPXN's -55.54%.

On 5-year performance, FNGS leads with 19.76% vs 8.45% for JPXN. On fees, JPXN is cheaper at 0.48% per year. On volatility, JPXN has been the lower-risk option at 5.70%. 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 19.76% return vs 8.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

JPXN is cheaper with a 0.48% expense ratio, compared with 0.58% for FNGS.

JPXN has the higher dividend yield at 2.76%, compared with 0.00% for FNGS.

FNGS is categorized as Large Cap Growth Equities, while JPXN is Japan Equities. FNGS tracks NYSE FANG+ Index, while JPXN tracks JPX-Nikkei Index 400. They also come from different issuers: BMO and iShares. Their fees differ too: 0.58% for FNGS and 0.48% for JPXN.

JPXN currently has the higher Sharpe Ratio (1.48 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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