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FNGS vs. QWLD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FNGS vs. QWLD

Last updated Aug 2, 2026
Documentation

FNGS (MicroSectors FANG+ ETN) and QWLD (SPDR MSCI World StrategicFactors ETF) are both Large Cap Growth Equities funds - FNGS tracks the NYSE FANG+ Index while QWLD tracks the MSCI World Factor Mix A-Series (USD). Both are passively managed. Over the past 5 years, FNGS returned 18.98%/yr vs 10.03%/yr for QWLD. Their 0.65 correlation means they have sometimes moved together and sometimes differently. FNGS charges 0.58%/yr vs 0.30%/yr for QWLD.

Performance

FNGS vs. QWLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG+ ETN (FNGS) and SPDR MSCI World StrategicFactors ETF (QWLD). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with FNGS having a 9.02% return and QWLD slightly higher at 9.39%.

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%

QWLD

1D
0.22%
1M
1.63%
6M
6.46%
YTD
9.39%
1Y
19.11%
3Y*
15.49%
5Y*
10.03%
10Y*
11.57%
ALL TIME*
10.49%
*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

QWLD

SPDR MSCI World StrategicFactors ETF
$231.12K$297.84K$1.04M

FNGS vs. QWLD - 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%
QWLD
SPDR MSCI World StrategicFactors ETF		9.39%17.93%14.44%19.59%-13.30%21.57%10.24%3.62%

Correlation

The correlation between FNGS and QWLD is 0.51, 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.

0.51

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

0.57

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

0.66

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

0.65

The correlation between FNGS and QWLD shifts across timeframes, from 0.51 (1 year) to 0.66 (5 years), reflecting how their relationship changes across market environments.

FNGS vs. QWLD - Sectors Allocation Comparison

Sectors
FNGS
QWLD

Technology

59.6%
24.9%

Communication Services

30.0%
9.5%

Consumer Cyclical

10.4%
6.3%

Financial Services

10.0%
16.5%

Basic Materials

-

2.5%

Consumer Defensive

-

8.1%

Energy

-

3.4%

Healthcare

-

13.2%

Industrials

-

10.9%

Real Estate

-

1.0%

Utilities

-

3.8%

Technology

FNGS
59.6%
QWLD
24.9%

Communication Services

FNGS
30.0%
QWLD
9.5%

Consumer Cyclical

FNGS
10.4%
QWLD
6.3%

Financial Services

FNGS
10.0%
QWLD
16.5%

Basic Materials

FNGS

-

QWLD
2.5%

Consumer Defensive

FNGS

-

QWLD
8.1%

Energy

FNGS

-

QWLD
3.4%

Healthcare

FNGS

-

QWLD
13.2%

Industrials

FNGS

-

QWLD
10.9%

Real Estate

FNGS

-

QWLD
1.0%

Utilities

FNGS

-

QWLD
3.8%

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

SPDR MSCI World StrategicFactors ETF

Often compared with FNGS:
FNGS vs. MAGSFNGS vs. SPYFNGS vs. QQQFNGS vs. FNGOFNGS vs. QLDFNGS vs. SMHFNGS vs. MON100.NS
Often compared with QWLD:
QWLD vs. URTHQWLD vs. DGTQWLD vs. SPGMQWLD vs. VTQWLD vs. VWICXQWLD vs. JPGL.LQWLD vs. QVML

Return for Risk

FNGS vs. QWLD — 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
QWLD
QWLD Risk / Return Rank: 8080
Overall Rank
QWLD Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
QWLD Sortino Ratio Rank: 8484
Sortino Ratio Rank
QWLD Omega Ratio Rank: 8282
Omega Ratio Rank
QWLD Calmar Ratio Rank: 7070
Calmar Ratio Rank
QWLD Martin Ratio Rank: 8181
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. QWLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+ ETN (FNGS) and SPDR MSCI World StrategicFactors ETF (QWLD). 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.

FNGSQWLDDifference
Sharpe ratioReturn per unit of total volatility
0.52
1.93

-1.42

Sortino ratioReturn per unit of downside risk
0.86
2.75

-1.89

Omega ratioGain probability vs. loss probability

1.10

1.34

-0.24

Calmar ratioReturn relative to maximum drawdown

0.51

2.44

-1.93

Martin ratioReturn relative to average drawdown

1.37

10.67

-9.31

FNGS vs. QWLD - Sharpe Ratio Comparison

The current FNGS Sharpe Ratio is 0.52, which is lower than the QWLD Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of FNGS and QWLD, 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. QWLD - Drawdown Comparison

The maximum FNGS drawdown since its inception was -48.98%, which is greater than QWLD's maximum drawdown of -31.89%. Use the drawdown chart below to compare losses from any high point for FNGS and QWLD.

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Drawdown Indicators

FNGSQWLDDifference

Max Drawdown

Largest peak-to-trough decline

-48.98%

-31.89%

-17.09%

Max Drawdown (1Y)

Largest decline over 1 year

-22.93%

-7.66%

-15.27%

Max Drawdown (3Y)

Largest decline over 3 years

-26.77%

-12.40%

-14.37%

Max Drawdown (5Y)

Largest decline over 5 years

-48.98%

-22.84%

-26.14%

Max Drawdown (10Y)

Largest decline over 10 years

—

-31.89%

—

Current Drawdown

Current decline from peak

-7.74%

0.00%

-7.74%

Average Drawdown

Average peak-to-trough decline

-10.80%

-3.66%

-7.14%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.61%

1.75%

+6.86%

Volatility

FNGS vs. QWLD - Volatility Comparison

MicroSectors FANG+ ETN (FNGS) has a higher volatility of 5.87% compared to SPDR MSCI World StrategicFactors ETF (QWLD) at 2.30%. This indicates that FNGS's price experiences larger fluctuations and is considered to be riskier than QWLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FNGSQWLDDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.87%

2.30%

+3.57%

Volatility (6M)

Calculated over the trailing 6-month period

18.36%

7.73%

+10.63%

Volatility (1Y)

Calculated over the trailing 1-year period

22.86%

9.71%

+13.15%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

30.29%

13.51%

+16.78%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

31.07%

15.12%

+15.95%

FNGS vs. QWLD - Expense Ratio Comparison

FNGS has a 0.58% expense ratio, which is higher than QWLD's 0.30% expense ratio.

Dividends

FNGS vs. QWLD - Dividend Comparison

FNGS has not paid dividends to shareholders, while QWLD's dividend yield for the trailing twelve months is around 1.79%.

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%
QWLD
SPDR MSCI World StrategicFactors ETF		1.79%1.85%1.74%1.78%2.02%1.77%1.77%2.13%2.33%2.73%2.22%3.42%

Frequently Asked Questions

FNGS and QWLD have a correlation of 0.51, 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 QWLD (2.30%). In terms of maximum drawdown, FNGS dropped -48.98% vs QWLD's -31.89%.

On 5-year performance, FNGS leads with 18.98% vs 10.03% for QWLD. On fees, QWLD is cheaper at 0.30% per year. On volatility, QWLD has been the lower-risk option at 2.30%. 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 10.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QWLD is cheaper with a 0.30% expense ratio, compared with 0.58% for FNGS.

QWLD has the higher dividend yield at 1.79%, compared with 0.00% for FNGS.

FNGS tracks NYSE FANG+ Index, while QWLD tracks MSCI World Factor Mix A-Series (USD). They also come from different issuers: BMO and State Street. Their fees differ too: 0.58% for FNGS and 0.30% for QWLD.

QWLD currently has the higher Sharpe Ratio (1.93 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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