FNGU vs. SIXH

Last updated Jun 24, 2026

FNGU (MicroSectors FANG+ 3X Leveraged ETNs) and SIXH (6 Meridian Hedged Equity-Index Option Strategy ETF) are both exchange-traded funds - FNGU is a Leveraged Equities fund tracking the NYSE FANG+ Index (Gross Total Return) (300%), while SIXH is a Volatility Hedged Equity fund actively managed by Exchange Traded Concepts. FNGU is passively managed, while SIXH is actively managed. Over the past year, FNGU returned 17.53% vs 13.45% for SIXH. At a correlation of -0.11, they often move in opposite directions. FNGU charges 2.60%/yr vs 0.87%/yr for SIXH.

Performance

FNGU vs. SIXH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG+ 3X Leveraged ETNs (FNGU) and 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNGU achieves a -0.99% return, which is significantly lower than SIXH's 10.10% return.

FNGU

• 1D: -7.64%
• 1M: -12.95%
• YTD: -0.99%
• 6M: -5.84%
• 1Y: 17.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SIXH

• 1D: 0.45%
• 1M: 1.32%
• YTD: 10.10%
• 6M: 10.25%
• 1Y: 13.45%
• 3Y*: 13.36%
• 5Y*: 9.64%
• 10Y*: —

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

FNGU vs. SIXH - Yearly Performance Comparison

	2026 (YTD)	2025
FNGU MicroSectors FANG+ 3X Leveraged ETNs	-0.99%	3.02%
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	10.10%	3.16%

Correlation

The correlation between FNGU and SIXH is -0.22, 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	-0.22
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	-0.11

The correlation between FNGU and SIXH shifts across timeframes, from -0.22 (1 year) to -0.11 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FNGU vs. SIXH — Risk / Return Rank

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

FNGU

FNGU Risk / Return Rank: 13
FNGU Sharpe Ratio Rank: 12
FNGU Sortino Ratio Rank: 16
FNGU Omega Ratio Rank: 16
FNGU Calmar Ratio Rank: 12
FNGU Martin Ratio Rank: 12

SIXH

SIXH Risk / Return Rank: 57
SIXH Sharpe Ratio Rank: 56
SIXH Sortino Ratio Rank: 63
SIXH Omega Ratio Rank: 53
SIXH Calmar Ratio Rank: 66
SIXH Martin Ratio Rank: 49

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. SIXH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+ 3X Leveraged ETNs (FNGU) 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.

	FNGU	SIXH	Difference
Sharpe ratio: Return per unit of total volatility	0.27	1.76	-1.49
Sortino ratio: Return per unit of downside risk	0.81	2.74	-1.92
Omega ratio: Gain probability vs. loss probability	1.10	1.31	-0.21
Calmar ratio: Return relative to maximum drawdown	0.30	3.09	-2.80
Martin ratio: Return relative to average drawdown	0.70	7.85	-7.15

FNGU vs. SIXH - Sharpe Ratio Comparison

The current FNGU Sharpe Ratio is 0.27, which is lower than the SIXH Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of FNGU and SIXH, 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. SIXH - Drawdown Comparison

The maximum FNGU drawdown since its inception was -61.30%, which is greater than SIXH's maximum drawdown of -11.68%. Use the drawdown chart below to compare losses from any high point for FNGU and SIXH.

Drawdown Indicators

	FNGU	SIXH	Difference
Max Drawdown Largest peak-to-trough decline	-61.30%	-11.68%	-49.62%
Max Drawdown (1Y) Largest decline over 1 year	-59.55%	-4.36%	-55.19%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.10%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-11.68%	—
Current Drawdown Current decline from peak	-30.82%	-0.02%	-30.80%
Average Drawdown Average peak-to-trough decline	-22.27%	-1.84%	-20.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.17%	1.72%	+23.45%

Volatility

FNGU vs. SIXH - Volatility Comparison

MicroSectors FANG+ 3X Leveraged ETNs (FNGU) has a higher volatility of 33.21% compared to 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) at 2.29%. This indicates that FNGU'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.

Volatility by Period

	FNGU	SIXH	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.21%	2.29%	+30.92%
Volatility (6M) Calculated over the trailing 6-month period	52.56%	6.08%	+46.48%
Volatility (1Y) Calculated over the trailing 1-year period	64.46%	7.67%	+56.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	81.18%	10.37%	+70.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.18%	10.12%	+71.06%

FNGU vs. SIXH - Expense Ratio Comparison

FNGU has a 2.60% expense ratio, which is higher than SIXH's 0.87% expense ratio.

Dividends

FNGU vs. SIXH - Dividend Comparison

FNGU 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
FNGU MicroSectors FANG+ 3X Leveraged ETNs	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

Can I hold both FNGU and SIXH in my portfolio?

FNGU and SIXH have a correlation of -0.22, 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 SIXH?

FNGU has higher volatility (33.21%) compared to SIXH (2.29%). In terms of maximum drawdown, FNGU dropped -61.30% vs SIXH's -11.68%.

Which ETF is better, FNGU or SIXH?

On 1-year performance, FNGU leads with 17.53% vs 13.45% for SIXH. On fees, SIXH is cheaper at 0.87% per year. On volatility, SIXH has been the lower-risk option at 2.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNGU or SIXH?

Over the 1-year period, FNGU has performed better with a 17.53% return vs 13.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNGU or SIXH?

SIXH is cheaper with a 0.87% expense ratio, compared with 2.60% for FNGU.

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

SIXH has the higher dividend yield at 1.85%, compared with 0.00% for FNGU.

What is the main difference between FNGU and SIXH?

FNGU is categorized as Leveraged Equities, while SIXH is Volatility Hedged Equity. They also come from different issuers: Bank of Montreal and Exchange Traded Concepts. Their fees differ too: 2.60% for FNGU and 0.87% for SIXH.

Which has better risk-adjusted returns?

SIXH currently has the higher Sharpe Ratio (1.76 vs 0.27), 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.