FNGS vs. MAGSX

Last updated Jun 23, 2026

FNGS (MicroSectors FANG+ ETN) and MAGSX (Madison Aggressive Allocation Fund) are both funds - FNGS is a Large Cap Growth Equities fund tracking the NYSE FANG+ Index, while MAGSX is a Diversified Portfolio fund managed by Madison Funds. Over the past 5 years, FNGS returned 18.98%/yr vs 5.78%/yr for MAGSX. A 0.70 correlation means they provide meaningful diversification when combined. FNGS charges 0.58%/yr vs 0.71%/yr for MAGSX.

Performance

FNGS vs. MAGSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG+ ETN (FNGS) and Madison Aggressive Allocation Fund (MAGSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNGS achieves a 8.21% return, which is significantly lower than MAGSX's 11.47% return.

FNGS

• 1D: -3.05%
• 1M: -1.23%
• YTD: 8.21%
• 6M: 7.55%
• 1Y: 20.76%
• 3Y*: 30.34%
• 5Y*: 18.98%
• 10Y*: —

MAGSX

• 1D: 1.06%
• 1M: 2.37%
• YTD: 11.47%
• 6M: 10.83%
• 1Y: 22.15%
• 3Y*: 12.04%
• 5Y*: 5.78%
• 10Y*: 7.69%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FNGS vs. MAGSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FNGS MicroSectors FANG+ ETN	8.21%	18.64%	51.99%	95.24%	-40.32%	16.96%	101.99%	10.10%
MAGSX Madison Aggressive Allocation Fund	11.47%	12.48%	6.46%	12.32%	-15.38%	9.50%	9.65%	2.36%

Correlation

The correlation between FNGS and MAGSX is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Nov 13, 2019	0.70

The correlation between FNGS and MAGSX shifts across timeframes, from 0.58 (1 year) to 0.70 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FNGS vs. MAGSX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FNGS

FNGS Risk / Return Rank: 24
FNGS Sharpe Ratio Rank: 27
FNGS Sortino Ratio Rank: 26
FNGS Omega Ratio Rank: 25
FNGS Calmar Ratio Rank: 20
FNGS Martin Ratio Rank: 21

MAGSX

MAGSX Risk / Return Rank: 52
MAGSX Sharpe Ratio Rank: 52
MAGSX Sortino Ratio Rank: 52
MAGSX Omega Ratio Rank: 49
MAGSX Calmar Ratio Rank: 48
MAGSX Martin Ratio Rank: 56

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. MAGSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+ ETN (FNGS) and Madison Aggressive Allocation Fund (MAGSX). 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	MAGSX	Difference
Sharpe ratio: Return per unit of total volatility	0.93	1.96	-1.03
Sortino ratio: Return per unit of downside risk	1.38	2.79	-1.41
Omega ratio: Gain probability vs. loss probability	1.17	1.35	-0.18
Calmar ratio: Return relative to maximum drawdown	0.91	2.54	-1.63
Martin ratio: Return relative to average drawdown	2.56	10.65	-8.08

FNGS vs. MAGSX - Sharpe Ratio Comparison

The current FNGS Sharpe Ratio is 0.93, which is lower than the MAGSX Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of FNGS and MAGSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FNGS vs. MAGSX - Drawdown Comparison

The maximum FNGS drawdown since its inception was -48.98%, smaller than the maximum MAGSX drawdown of -56.06%. Use the drawdown chart below to compare losses from any high point for FNGS and MAGSX.

Drawdown Indicators

	FNGS	MAGSX	Difference
Max Drawdown Largest peak-to-trough decline	-48.98%	-56.06%	+7.08%
Max Drawdown (1Y) Largest decline over 1 year	-22.93%	-8.63%	-14.30%
Max Drawdown (3Y) Largest decline over 3 years	-26.77%	-15.35%	-11.42%
Max Drawdown (5Y) Largest decline over 5 years	-48.98%	-21.13%	-27.85%
Max Drawdown (10Y) Largest decline over 10 years	—	-23.20%	—
Current Drawdown Current decline from peak	-8.42%	-0.30%	-8.12%
Average Drawdown Average peak-to-trough decline	-10.84%	-9.45%	-1.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.11%	2.06%	+6.05%

Volatility

FNGS vs. MAGSX - Volatility Comparison

MicroSectors FANG+ ETN (FNGS) has a higher volatility of 10.75% compared to Madison Aggressive Allocation Fund (MAGSX) at 4.48%. This indicates that FNGS's price experiences larger fluctuations and is considered to be riskier than MAGSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNGS	MAGSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.75%	4.48%	+6.27%
Volatility (6M) Calculated over the trailing 6-month period	17.87%	9.31%	+8.56%
Volatility (1Y) Calculated over the trailing 1-year period	22.54%	11.19%	+11.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.24%	12.28%	+17.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.23%	13.12%	+18.11%

FNGS vs. MAGSX - Expense Ratio Comparison

FNGS has a 0.58% expense ratio, which is lower than MAGSX's 0.71% expense ratio.

Dividends

FNGS vs. MAGSX - Dividend Comparison

FNGS has not paid dividends to shareholders, while MAGSX's dividend yield for the trailing twelve months is around 5.53%.

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%
MAGSX Madison Aggressive Allocation Fund	5.53%	6.17%	2.02%	1.89%	1.26%	9.97%	8.66%	5.42%	10.79%	5.89%	3.82%	9.57%

Frequently Asked Questions

Can I hold both FNGS and MAGSX in my portfolio?

FNGS and MAGSX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNGS or MAGSX?

FNGS has higher volatility (10.75%) compared to MAGSX (4.48%). In terms of maximum drawdown, FNGS dropped -48.98% vs MAGSX's -56.06%.

Which has better risk-adjusted returns?

MAGSX currently has the higher Sharpe Ratio (1.96 vs 0.93), 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.