FNGU vs. ARMG

Last updated Jun 4, 2026

FNGU (MicroSectors FANG+ 3X Leveraged ETNs) and ARMG (Leverage Shares 2X Long ARM Daily ETF) are both Leveraged Equities funds. FNGU is passively managed, while ARMG is actively managed. Over the past year, FNGU returned 64.67% vs 510.84% for ARMG. A 0.51 correlation means they provide meaningful diversification when combined. FNGU charges 2.60%/yr vs 0.75%/yr for ARMG.

Performance

FNGU vs. ARMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG+ 3X Leveraged ETNs (FNGU) and Leverage Shares 2X Long ARM Daily ETF (ARMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNGU achieves a 36.18% return, which is significantly lower than ARMG's 936.32% return.

FNGU

• 1D: -3.75%
• 1M: 33.96%
• YTD: 36.18%
• 6M: 16.22%
• 1Y: 64.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ARMG

• 1D: 4.85%
• 1M: 261.28%
• YTD: 936.32%
• 6M: 526.62%
• 1Y: 510.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FNGU vs. ARMG - Yearly Performance Comparison

	2026 (YTD)	2025
FNGU MicroSectors FANG+ 3X Leveraged ETNs	36.18%	4.24%
ARMG Leverage Shares 2X Long ARM Daily ETF	936.32%	-64.54%

Correlation

The correlation between FNGU and ARMG is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025	0.51

The correlation between FNGU and ARMG has been stable across timeframes, ranging from 0.43 to 0.51 - a consistent structural relationship.

Return for Risk

FNGU vs. ARMG — Risk / Return Rank

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

FNGU

FNGU Risk / Return Rank: 27
FNGU Sharpe Ratio Rank: 30
FNGU Sortino Ratio Rank: 31
FNGU Omega Ratio Rank: 30
FNGU Calmar Ratio Rank: 23
FNGU Martin Ratio Rank: 21

ARMG

ARMG Risk / Return Rank: 84
ARMG Sharpe Ratio Rank: 95
ARMG Sortino Ratio Rank: 80
ARMG Omega Ratio Rank: 77
ARMG Calmar Ratio Rank: 94
ARMG Martin Ratio Rank: 71

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.

FNGU vs. ARMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+ 3X Leveraged ETNs (FNGU) and Leverage Shares 2X Long ARM Daily ETF (ARMG). 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.

	FNGU	ARMG	Difference
Sharpe ratio: Return per unit of total volatility	1.13	3.96	-2.82
Sortino ratio: Return per unit of downside risk	1.69	3.63	-1.94
Omega ratio: Gain probability vs. loss probability	1.21	1.46	-0.25
Calmar ratio: Return relative to maximum drawdown	1.09	7.56	-6.47
Martin ratio: Return relative to average drawdown	2.64	13.34	-10.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNGU vs. ARMG - Sharpe Ratio Comparison

The current FNGU Sharpe Ratio is 1.13, which is lower than the ARMG Sharpe Ratio of 3.96. The chart below compares the historical Sharpe Ratios of FNGU and ARMG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FNGU	ARMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.13	3.96	-2.82
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	1.24	-0.84

Drawdowns

FNGU vs. ARMG - Drawdown Comparison

The maximum FNGU drawdown since its inception was -60.84%, smaller than the maximum ARMG drawdown of -80.28%. Use the drawdown chart below to compare losses from any high point for FNGU and ARMG.

Drawdown Indicators

	FNGU	ARMG	Difference
Max Drawdown Largest peak-to-trough decline	-60.84%	-80.28%	+19.44%
Max Drawdown (1Y) Largest decline over 1 year	-59.55%	-68.13%	+8.58%
Current Drawdown Current decline from peak	-4.84%	0.00%	-4.84%
Average Drawdown Average peak-to-trough decline	-22.06%	-53.04%	+30.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.57%	38.55%	-13.98%

Volatility

FNGU vs. ARMG - Volatility Comparison

The current volatility for MicroSectors FANG+ 3X Leveraged ETNs (FNGU) is 16.40%, while Leverage Shares 2X Long ARM Daily ETF (ARMG) has a volatility of 64.57%. This indicates that FNGU experiences smaller price fluctuations and is considered to be less risky than ARMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNGU	ARMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.40%	64.57%	-48.17%
Volatility (6M) Calculated over the trailing 6-month period	44.77%	103.90%	-59.13%
Volatility (1Y) Calculated over the trailing 1-year period	57.50%	130.31%	-72.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	78.60%	138.30%	-59.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	78.60%	138.30%	-59.70%

FNGU vs. ARMG - Expense Ratio Comparison

FNGU has a 2.60% expense ratio, which is higher than ARMG's 0.75% expense ratio.

Dividends

FNGU vs. ARMG - Dividend Comparison

FNGU has not paid dividends to shareholders, while ARMG's dividend yield for the trailing twelve months is around 0.47%.

Position	TTM	2025
ARMG Leverage Shares 2X Long ARM Daily ETF	0.47%	4.86%
FNGU MicroSectors FANG+ 3X Leveraged ETNs	0.00%	0.00%

Frequently Asked Questions

Can I hold both FNGU and ARMG in my portfolio?

FNGU and ARMG have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNGU or ARMG?

ARMG has higher volatility (64.57%) compared to FNGU (16.40%). In terms of maximum drawdown, FNGU dropped -60.84% vs ARMG's -80.28%.

Which ETF is better, FNGU or ARMG?

On 1-year performance, ARMG leads with 510.84% vs 64.67% for FNGU. On fees, ARMG is cheaper at 0.75% per year. On volatility, FNGU has been the lower-risk option at 16.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNGU or ARMG?

Over the 1-year period, ARMG has performed better with a 510.84% return vs 64.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNGU or ARMG?

ARMG is cheaper with a 0.75% expense ratio, compared with 2.60% for FNGU.

Which ETF pays a higher dividend yield, FNGU or ARMG?

ARMG has the higher dividend yield at 0.47%, compared with 0.00% for FNGU.

What is the main difference between FNGU and ARMG?

They also come from different issuers: Bank of Montreal and Leverage Shares. Their fees differ too: 2.60% for FNGU and 0.75% for ARMG.

Which has better risk-adjusted returns?

ARMG currently has the higher Sharpe Ratio (3.96 vs 1.13), 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.