FNGU vs. LULG
FNGU (MicroSectors FANG+ 3X Leveraged ETNs) and LULG (Leverage Shares 2X Long LULU Daily ETF) are both Leveraged Equities funds. FNGU is passively managed, while LULG is actively managed. At a 0.32 correlation, their price movements are largely independent. FNGU charges 2.60%/yr vs 0.75%/yr for LULG.
Performance
FNGU vs. LULG - Performance Comparison
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Returns By Period
In the year-to-date period, FNGU achieves a 6.85% return, which is significantly higher than LULG's -74.08% return.
FNGU
- 1D
- -16.08%
- 1M
- -1.68%
- YTD
- 6.85%
- 6M
- -9.40%
- 1Y
- 28.10%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
LULG
- 1D
- -17.50%
- 1M
- -27.80%
- YTD
- -74.08%
- 6M
- -69.78%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FNGU vs. LULG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FNGU MicroSectors FANG+ 3X Leveraged ETNs | 6.85% | -18.54% |
LULG Leverage Shares 2X Long LULU Daily ETF | -74.08% | 47.31% |
Correlation
The correlation between FNGU and LULG is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 6, 2025 | 0.32 |
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Return for Risk
FNGU vs. LULG — Risk / Return Rank
FNGU
LULG
FNGU vs. LULG - 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 LULU Daily ETF (LULG). 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 | LULG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.13 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.47 | — | — |
| Martin ratioReturn relative to average drawdown | 1.14 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FNGU | LULG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.47 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.11 | -0.93 | +1.04 |
Drawdowns
FNGU vs. LULG - Drawdown Comparison
The maximum FNGU drawdown since its inception was -60.84%, smaller than the maximum LULG drawdown of -75.99%. Use the drawdown chart below to compare losses from any high point for FNGU and LULG.
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Drawdown Indicators
| FNGU | LULG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.84% | -75.99% | +15.15% |
Max Drawdown (1Y)Largest decline over 1 year | -59.55% | — | — |
Current DrawdownCurrent decline from peak | -25.34% | -75.99% | +50.65% |
Average DrawdownAverage peak-to-trough decline | -22.04% | -34.00% | +11.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.63% | — | — |
Volatility
FNGU vs. LULG - Volatility Comparison
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Volatility by Period
| FNGU | LULG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.63% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 48.53% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 60.12% | 88.07% | -27.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 79.88% | 88.07% | -8.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 79.88% | 88.07% | -8.19% |
FNGU vs. LULG - Expense Ratio Comparison
FNGU has a 2.60% expense ratio, which is higher than LULG's 0.75% expense ratio.
Dividends
FNGU vs. LULG - Dividend Comparison
Neither FNGU nor LULG has paid dividends to shareholders.
Frequently Asked Questions
FNGU and LULG have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LULG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LULG is cheaper with a 0.75% expense ratio, compared with 2.60% for FNGU.
FNGU and LULG have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Bank of Montreal and Leverage Shares. Their fees differ too: 2.60% for FNGU and 0.75% for LULG.
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