FNGS vs. OILU

Last updated Jun 23, 2026

FNGS (MicroSectors FANG+ ETN) and OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) are both exchange-traded funds - FNGS is a Large Cap Growth Equities fund tracking the NYSE FANG+ Index, while OILU is a Leveraged Commodities fund managed by BMO. Over the past 3 years, FNGS returned 30.34%/yr vs 4.35%/yr for OILU. At a 0.12 correlation, their price movements are largely independent. FNGS charges 0.58%/yr vs 0.95%/yr for OILU.

Performance

FNGS vs. OILU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG+ ETN (FNGS) and MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU). 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 OILU's 51.45% return.

FNGS

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

OILU

• 1D: 4.46%
• 1M: -26.24%
• YTD: 51.45%
• 6M: 55.78%
• 1Y: 39.41%
• 3Y*: 4.35%
• 5Y*: —
• 10Y*: —

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

FNGS vs. OILU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FNGS MicroSectors FANG+ ETN	8.21%	18.64%	51.99%	95.24%	-40.32%	-6.76%
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	51.45%	-16.50%	-21.65%	-32.50%	151.08%	-16.79%

Correlation

The correlation between FNGS and OILU is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.00
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021	0.12

The correlation between FNGS and OILU shifts across timeframes, from -0.17 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FNGS vs. OILU — 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

OILU

OILU Risk / Return Rank: 21
OILU Sharpe Ratio Rank: 19
OILU Sortino Ratio Rank: 22
OILU Omega Ratio Rank: 20
OILU Calmar Ratio Rank: 20
OILU Martin Ratio Rank: 22

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. OILU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+ ETN (FNGS) and MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU). 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	OILU	Difference
Sharpe ratio: Return per unit of total volatility	0.93	0.62	+0.30
Sortino ratio: Return per unit of downside risk	1.38	1.18	+0.20
Omega ratio: Gain probability vs. loss probability	1.17	1.14	+0.03
Calmar ratio: Return relative to maximum drawdown	0.91	0.91	0.00
Martin ratio: Return relative to average drawdown	2.56	2.64	-0.08

FNGS vs. OILU - Sharpe Ratio Comparison

The current FNGS Sharpe Ratio is 0.93, which is higher than the OILU Sharpe Ratio of 0.62. The chart below compares the historical Sharpe Ratios of FNGS and OILU, 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. OILU - Drawdown Comparison

The maximum FNGS drawdown since its inception was -48.98%, smaller than the maximum OILU drawdown of -81.00%. Use the drawdown chart below to compare losses from any high point for FNGS and OILU.

Drawdown Indicators

	FNGS	OILU	Difference
Max Drawdown Largest peak-to-trough decline	-48.98%	-81.00%	+32.02%
Max Drawdown (1Y) Largest decline over 1 year	-22.93%	-43.74%	+20.81%
Max Drawdown (3Y) Largest decline over 3 years	-26.77%	-69.09%	+42.32%
Max Drawdown (5Y) Largest decline over 5 years	-48.98%	—	—
Current Drawdown Current decline from peak	-8.42%	-59.27%	+50.85%
Average Drawdown Average peak-to-trough decline	-10.84%	-50.58%	+39.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.11%	15.21%	-7.10%

Volatility

FNGS vs. OILU - Volatility Comparison

The current volatility for MicroSectors FANG+ ETN (FNGS) is 10.75%, while MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) has a volatility of 21.80%. This indicates that FNGS experiences smaller price fluctuations and is considered to be less risky than OILU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNGS	OILU	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.75%	21.80%	-11.05%
Volatility (6M) Calculated over the trailing 6-month period	17.87%	51.07%	-33.20%
Volatility (1Y) Calculated over the trailing 1-year period	22.54%	63.69%	-41.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.24%	81.13%	-50.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.23%	81.13%	-49.90%

FNGS vs. OILU - Expense Ratio Comparison

FNGS has a 0.58% expense ratio, which is lower than OILU's 0.95% expense ratio.

Dividends

FNGS vs. OILU - Dividend Comparison

Neither FNGS nor OILU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FNGS and OILU in my portfolio?

FNGS and OILU have a correlation of -0.17, 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 OILU?

OILU has higher volatility (21.80%) compared to FNGS (10.75%). In terms of maximum drawdown, FNGS dropped -48.98% vs OILU's -81.00%.

Which ETF is better, FNGS or OILU?

On 3-year performance, FNGS leads with 30.34% vs 4.35% for OILU. On fees, FNGS is cheaper at 0.58% per year. On volatility, FNGS has been the lower-risk option at 10.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNGS or OILU?

Over the 3-year period, FNGS has performed better with a 30.34% return vs 4.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNGS or OILU?

FNGS is cheaper with a 0.58% expense ratio, compared with 0.95% for OILU.

Which ETF pays a higher dividend yield, FNGS or OILU?

FNGS and OILU have nearly identical dividend yields, around 0.00%.

What is the main difference between FNGS and OILU?

FNGS is categorized as Large Cap Growth Equities, while OILU is Leveraged Commodities. Their fees differ too: 0.58% for FNGS and 0.95% for OILU.

Which has better risk-adjusted returns?

FNGS currently has the higher Sharpe Ratio (0.93 vs 0.62), 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.