FNGU vs. TQQQ
Compare and contrast key facts about MicroSectors FANG+™ Index 3X Leveraged ETN (FNGU) and ProShares UltraPro QQQ (TQQQ).
FNGU and TQQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FNGU is a passively managed fund by Bank of Montreal that tracks the performance of the NYSE FANG (TR) (300%). It was launched on Jan 22, 2018. TQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (300%). It was launched on Feb 9, 2010. Both FNGU and TQQQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
FNGU vs. TQQQ - Performance Comparison
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FNGU vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FNGU MicroSectors FANG+™ Index 3X Leveraged ETN | -38.12% | 4.24% |
TQQQ ProShares UltraPro QQQ | -20.81% | 19.05% |
Returns By Period
In the year-to-date period, FNGU achieves a -38.12% return, which is significantly lower than TQQQ's -20.81% return.
FNGU
- 1D
- 13.84%
- 1M
- -15.01%
- YTD
- -38.12%
- 6M
- -46.40%
- 1Y
- 17.43%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TQQQ
- 1D
- 10.00%
- 1M
- -15.69%
- YTD
- -20.81%
- 6M
- -19.12%
- 1Y
- 46.49%
- 3Y*
- 45.09%
- 5Y*
- 12.72%
- 10Y*
- 34.82%
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FNGU vs. TQQQ - Expense Ratio Comparison
Both FNGU and TQQQ have an expense ratio of 0.95%.
Return for Risk
FNGU vs. TQQQ — Risk / Return Rank
FNGU
TQQQ
FNGU vs. TQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+™ Index 3X Leveraged ETN (FNGU) and ProShares UltraPro QQQ (TQQQ). 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 | TQQQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.23 | 0.69 | -0.47 |
Sortino ratioReturn per unit of downside risk | 0.91 | 1.37 | -0.46 |
Omega ratioGain probability vs. loss probability | 1.12 | 1.19 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 0.27 | 1.25 | -0.99 |
Martin ratioReturn relative to average drawdown | 0.71 | 3.87 | -3.15 |
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 | TQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.23 | 0.69 | -0.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.19 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.53 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.41 | 0.64 | -1.05 |
Correlation
The correlation between FNGU and TQQQ is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FNGU vs. TQQQ - Dividend Comparison
FNGU has not paid dividends to shareholders, while TQQQ's dividend yield for the trailing twelve months is around 0.76%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNGU MicroSectors FANG+™ Index 3X Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TQQQ ProShares UltraPro QQQ | 0.76% | 0.65% | 1.27% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% |
Drawdowns
FNGU vs. TQQQ - Drawdown Comparison
The maximum FNGU drawdown since its inception was -60.84%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for FNGU and TQQQ.
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Drawdown Indicators
| FNGU | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.84% | -81.66% | +20.82% |
Max Drawdown (1Y)Largest decline over 1 year | -59.55% | -36.97% | -22.58% |
Max Drawdown (5Y)Largest decline over 5 years | — | -81.66% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -81.66% | — |
Current DrawdownCurrent decline from peak | -53.95% | -30.66% | -23.29% |
Average DrawdownAverage peak-to-trough decline | -21.77% | -18.66% | -3.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.28% | 12.00% | +10.28% |
Volatility
FNGU vs. TQQQ - Volatility Comparison
MicroSectors FANG+™ Index 3X Leveraged ETN (FNGU) has a higher volatility of 23.48% compared to ProShares UltraPro QQQ (TQQQ) at 19.43%. This indicates that FNGU's price experiences larger fluctuations and is considered to be riskier than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNGU | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.48% | 19.43% | +4.05% |
Volatility (6M)Calculated over the trailing 6-month period | 44.72% | 38.32% | +6.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 77.61% | 67.26% | +10.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 80.84% | 66.55% | +14.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 80.84% | 65.83% | +15.01% |