FNGU vs. FNGG

Last updated Jun 23, 2026

FNGU (MicroSectors FANG+ 3X Leveraged ETNs) and FNGG (Direxion Daily NYSE FANG+ Bull 2X Shares) are both Leveraged Equities funds - FNGU tracks the NYSE FANG+ Index (Gross Total Return) (300%) while FNGG tracks the NYSE FANG+ Index (2x Leveraged). Both are passively managed. Over the past year, FNGU returned 30.95% vs 34.32% for FNGG. With a 0.99 correlation, they move nearly in lockstep. FNGU charges 2.60%/yr vs 0.97%/yr for FNGG.

Performance

FNGU vs. FNGG - Performance Comparison

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

Returns By Period

In the year-to-date period, FNGU achieves a 7.21% return, which is significantly lower than FNGG's 11.08% return.

FNGU

• 1D: -7.77%
• 1M: -5.74%
• YTD: 7.21%
• 6M: 4.80%
• 1Y: 30.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FNGG

• 1D: -5.43%
• 1M: -2.38%
• YTD: 11.08%
• 6M: 9.63%
• 1Y: 34.32%
• 3Y*: 50.53%
• 5Y*: —
• 10Y*: —

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

FNGU vs. FNGG - Yearly Performance Comparison

	2026 (YTD)	2025
FNGU MicroSectors FANG+ 3X Leveraged ETNs	7.21%	3.02%
FNGG Direxion Daily NYSE FANG+ Bull 2X Shares	11.08%	14.70%

Correlation

The correlation between FNGU and FNGG is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.99

The correlation between FNGU and FNGG has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

FNGU vs. FNGG - Sectors Allocation Comparison

Sectors	FNGU	FNGG
Technology	60.6%	64.5%
Communication Services	29.8%	25.2%
Consumer Cyclical	9.6%	10.3%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

FNGU vs. FNGG — Risk / Return Rank

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

FNGU

FNGU Risk / Return Rank: 17
FNGU Sharpe Ratio Rank: 16
FNGU Sortino Ratio Rank: 20
FNGU Omega Ratio Rank: 19
FNGU Calmar Ratio Rank: 14
FNGU Martin Ratio Rank: 14

FNGG

FNGG Risk / Return Rank: 21
FNGG Sharpe Ratio Rank: 23
FNGG Sortino Ratio Rank: 24
FNGG Omega Ratio Rank: 23
FNGG Calmar Ratio Rank: 19
FNGG Martin Ratio Rank: 18

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. FNGG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+ 3X Leveraged ETNs (FNGU) and Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG). 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.

	FNGU	FNGG	Difference
Sharpe ratio: Return per unit of total volatility	0.49	0.79	-0.31
Sortino ratio: Return per unit of downside risk	1.06	1.29	-0.23
Omega ratio: Gain probability vs. loss probability	1.13	1.16	-0.03
Calmar ratio: Return relative to maximum drawdown	0.52	0.80	-0.28
Martin ratio: Return relative to average drawdown	1.24	2.07	-0.84

FNGU vs. FNGG - Sharpe Ratio Comparison

The current FNGU Sharpe Ratio is 0.49, which is lower than the FNGG Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of FNGU and FNGG, 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

FNGU vs. FNGG - Drawdown Comparison

The maximum FNGU drawdown since its inception was -61.30%, smaller than the maximum FNGG drawdown of -91.33%. Use the drawdown chart below to compare losses from any high point for FNGU and FNGG.

Drawdown Indicators

	FNGU	FNGG	Difference
Max Drawdown Largest peak-to-trough decline	-61.30%	-91.33%	+30.03%
Max Drawdown (1Y) Largest decline over 1 year	-59.55%	-43.01%	-16.54%
Max Drawdown (3Y) Largest decline over 3 years	—	-47.03%	—
Current Drawdown Current decline from peak	-25.09%	-17.85%	-7.24%
Average Drawdown Average peak-to-trough decline	-22.25%	-55.59%	+33.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.10%	16.60%	+8.50%

Volatility

FNGU vs. FNGG - Volatility Comparison

MicroSectors FANG+ 3X Leveraged ETNs (FNGU) has a higher volatility of 32.41% compared to Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG) at 20.62%. This indicates that FNGU's price experiences larger fluctuations and is considered to be riskier than FNGG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNGU	FNGG	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.41%	20.62%	+11.79%
Volatility (6M) Calculated over the trailing 6-month period	52.02%	34.72%	+17.30%
Volatility (1Y) Calculated over the trailing 1-year period	64.11%	43.47%	+20.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	81.02%	67.79%	+13.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.02%	67.79%	+13.23%

FNGU vs. FNGG - Expense Ratio Comparison

FNGU has a 2.60% expense ratio, which is higher than FNGG's 0.97% expense ratio.

Dividends

FNGU vs. FNGG - Dividend Comparison

FNGU has not paid dividends to shareholders, while FNGG's dividend yield for the trailing twelve months is around 10.67%.

Position	TTM	2025	2024	2023	2022	2021
FNGG Direxion Daily NYSE FANG+ Bull 2X Shares	10.67%	11.89%	0.79%	0.88%	0.00%	4.99%
FNGU MicroSectors FANG+ 3X Leveraged ETNs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FNGU and FNGG in my portfolio?

With a correlation of 0.99, FNGU and FNGG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FNGU or FNGG?

FNGU has higher volatility (32.41%) compared to FNGG (20.62%). In terms of maximum drawdown, FNGU dropped -61.30% vs FNGG's -91.33%.

Which ETF is better, FNGU or FNGG?

On 1-year performance, FNGG leads with 34.32% vs 30.95% for FNGU. On fees, FNGG is cheaper at 0.97% per year. On volatility, FNGG has been the lower-risk option at 20.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNGU or FNGG?

Over the 1-year period, FNGG has performed better with a 34.32% return vs 30.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNGU or FNGG?

FNGG is cheaper with a 0.97% expense ratio, compared with 2.60% for FNGU.

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

FNGG has the higher dividend yield at 10.67%, compared with 0.00% for FNGU.

What is the main difference between FNGU and FNGG?

FNGU tracks NYSE FANG+ Index (Gross Total Return) (300%), while FNGG tracks NYSE FANG+ Index (2x Leveraged). They also come from different issuers: Bank of Montreal and Direxion. Their fees differ too: 2.60% for FNGU and 0.97% for FNGG.

Which has better risk-adjusted returns?

FNGG currently has the higher Sharpe Ratio (0.79 vs 0.49), 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.