FNGS vs. SIXH
FNGS (MicroSectors FANG+ ETN) and SIXH (6 Meridian Hedged Equity-Index Option Strategy ETF) are both exchange-traded funds - FNGS is a Large Cap Growth Equities fund tracking the NYSE FANG+ Index, while SIXH is a Volatility Hedged Equity fund actively managed by Exchange Traded Concepts. FNGS is passively managed, while SIXH is actively managed. Over the past 5 years, FNGS returned 18.98%/yr vs 9.64%/yr for SIXH. At a 0.15 correlation, their price movements are largely independent. FNGS charges 0.58%/yr vs 0.87%/yr for SIXH.
Performance
FNGS vs. SIXH - Performance Comparison
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Returns By Period
In the year-to-date period, FNGS achieves a 8.21% return, which is significantly lower than SIXH's 9.61% return.
FNGS
- 1D
- -3.05%
- 1M
- -1.23%
- YTD
- 8.21%
- 6M
- 7.55%
- 1Y
- 20.76%
- 3Y*
- 30.34%
- 5Y*
- 18.98%
- 10Y*
- —
SIXH
- 1D
- 0.55%
- 1M
- 0.87%
- YTD
- 9.61%
- 6M
- 9.61%
- 1Y
- 13.50%
- 3Y*
- 13.19%
- 5Y*
- 9.64%
- 10Y*
- —
FNGS vs. SIXH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FNGS MicroSectors FANG+ ETN | 8.21% | 18.64% | 51.99% | 95.24% | -40.32% | 16.96% | 72.25% |
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF | 9.61% | 9.47% | 12.06% | 4.93% | 6.90% | 18.37% | 6.49% |
Correlation
The correlation between FNGS and SIXH is -0.20, 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 | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since May 11, 2020 | 0.15 |
The correlation between FNGS and SIXH shifts across timeframes, from -0.20 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FNGS vs. SIXH — Risk / Return Rank
FNGS
SIXH
FNGS vs. SIXH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+ ETN (FNGS) and 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH). 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 | SIXH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.84 | ||
| Sortino ratioReturn per unit of downside risk | -1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.31 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.91 | 3.11 | -2.20 |
| Martin ratioReturn relative to average drawdown | 2.56 | 7.88 | -5.31 |
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Drawdowns
FNGS vs. SIXH - Drawdown Comparison
The maximum FNGS drawdown since its inception was -48.98%, which is greater than SIXH's maximum drawdown of -11.68%. Use the drawdown chart below to compare losses from any high point for FNGS and SIXH.
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Drawdown Indicators
| FNGS | SIXH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.98% | -11.68% | -37.30% |
Max Drawdown (1Y)Largest decline over 1 year | -22.93% | -4.36% | -18.57% |
Max Drawdown (3Y)Largest decline over 3 years | -26.77% | -9.10% | -17.67% |
Max Drawdown (5Y)Largest decline over 5 years | -48.98% | -11.68% | -37.30% |
Current DrawdownCurrent decline from peak | -8.42% | -0.47% | -7.95% |
Average DrawdownAverage peak-to-trough decline | -10.84% | -1.84% | -9.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.11% | 1.72% | +6.39% |
Volatility
FNGS vs. SIXH - Volatility Comparison
MicroSectors FANG+ ETN (FNGS) has a higher volatility of 10.75% compared to 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) at 2.33%. This indicates that FNGS's price experiences larger fluctuations and is considered to be riskier than SIXH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNGS | SIXH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.75% | 2.33% | +8.42% |
Volatility (6M)Calculated over the trailing 6-month period | 17.87% | 6.07% | +11.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.54% | 7.68% | +14.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.24% | 10.37% | +19.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.23% | 10.13% | +21.10% |
FNGS vs. SIXH - Expense Ratio Comparison
FNGS has a 0.58% expense ratio, which is lower than SIXH's 0.87% expense ratio.
Dividends
FNGS vs. SIXH - Dividend Comparison
FNGS has not paid dividends to shareholders, while SIXH's dividend yield for the trailing twelve months is around 1.85%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
FNGS MicroSectors FANG+ ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF | 1.85% | 2.23% | 1.55% | 2.04% | 2.06% | 1.65% | 1.10% |
Frequently Asked Questions
FNGS and SIXH have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNGS has higher volatility (10.75%) compared to SIXH (2.33%). In terms of maximum drawdown, FNGS dropped -48.98% vs SIXH's -11.68%.
On 5-year performance, FNGS leads with 18.98% vs 9.64% for SIXH. On fees, FNGS is cheaper at 0.58% per year. On volatility, SIXH has been the lower-risk option at 2.33%. 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 9.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FNGS is cheaper with a 0.58% expense ratio, compared with 0.87% for SIXH.
SIXH has the higher dividend yield at 1.85%, compared with 0.00% for FNGS.
FNGS is categorized as Large Cap Growth Equities, while SIXH is Volatility Hedged Equity. They also come from different issuers: BMO and Exchange Traded Concepts. Their fees differ too: 0.58% for FNGS and 0.87% for SIXH.
SIXH currently has the higher Sharpe Ratio (1.77 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.
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