FNGU vs. UDOW

Last updated Jun 13, 2026

FNGU (MicroSectors FANG+ 3X Leveraged ETNs) and UDOW (ProShares UltraPro Dow30) are both Leveraged Equities funds - FNGU tracks the NYSE FANG+ Index (Gross Total Return) (300%) while UDOW tracks the Dow Jones Industrial Average (300%). Both are passively managed. Over the past year, FNGU returned 21.24% vs 51.98% for UDOW. A 0.52 correlation means they provide meaningful diversification when combined. FNGU charges 2.60%/yr vs 0.95%/yr for UDOW.

Performance

FNGU vs. UDOW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG+ 3X Leveraged ETNs (FNGU) and ProShares UltraPro Dow30 (UDOW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNGU achieves a 3.96% return, which is significantly lower than UDOW's 14.65% return.

FNGU

• 1D: -2.52%
• 1M: -12.41%
• YTD: 3.96%
• 6M: -3.67%
• 1Y: 21.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UDOW

• 1D: 2.07%
• 1M: 8.49%
• YTD: 14.65%
• 6M: 11.42%
• 1Y: 51.98%
• 3Y*: 32.31%
• 5Y*: 13.79%
• 10Y*: 23.82%

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

FNGU vs. UDOW - Yearly Performance Comparison

	2026 (YTD)	2025
FNGU MicroSectors FANG+ 3X Leveraged ETNs	3.96%	3.02%
UDOW ProShares UltraPro Dow30	14.65%	9.61%

Correlation

The correlation between FNGU and UDOW is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.52

The correlation between FNGU and UDOW has been stable across timeframes, ranging from 0.47 to 0.52 - a consistent structural relationship.

FNGU vs. UDOW - Sectors Allocation Comparison

Sectors	FNGU	UDOW
Technology	60.6%	17.1%
Communication Services	29.8%	1.9%
Consumer Cyclical	9.6%	11.6%
Basic Materials	-	4.0%
Consumer Defensive	-	4.4%
Energy	-	2.4%
Financial Services	-	27.2%
Healthcare	-	13.1%
Industrials	-	18.4%
Real Estate	-	-
Utilities	-	-

Return for Risk

FNGU vs. UDOW — Risk / Return Rank

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

FNGU

FNGU Risk / Return Rank: 16
FNGU Sharpe Ratio Rank: 15
FNGU Sortino Ratio Rank: 19
FNGU Omega Ratio Rank: 19
FNGU Calmar Ratio Rank: 14
FNGU Martin Ratio Rank: 14

UDOW

UDOW Risk / Return Rank: 44
UDOW Sharpe Ratio Rank: 45
UDOW Sortino Ratio Rank: 44
UDOW Omega Ratio Rank: 41
UDOW Calmar Ratio Rank: 42
UDOW Martin Ratio Rank: 45

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. UDOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+ 3X Leveraged ETNs (FNGU) and ProShares UltraPro Dow30 (UDOW). 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	UDOW	Difference
Sharpe ratio: Return per unit of total volatility	0.35	1.40	-1.05
Sortino ratio: Return per unit of downside risk	0.87	1.99	-1.12
Omega ratio: Gain probability vs. loss probability	1.11	1.24	-0.13
Calmar ratio: Return relative to maximum drawdown	0.36	1.86	-1.50
Martin ratio: Return relative to average drawdown	0.85	6.59	-5.74

FNGU vs. UDOW - Sharpe Ratio Comparison

The current FNGU Sharpe Ratio is 0.35, which is lower than the UDOW Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of FNGU and UDOW, 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. UDOW - Drawdown Comparison

The maximum FNGU drawdown since its inception was -61.30%, smaller than the maximum UDOW drawdown of -80.29%. Use the drawdown chart below to compare losses from any high point for FNGU and UDOW.

Drawdown Indicators

	FNGU	UDOW	Difference
Max Drawdown Largest peak-to-trough decline	-61.30%	-80.29%	+18.99%
Max Drawdown (1Y) Largest decline over 1 year	-59.55%	-28.07%	-31.48%
Max Drawdown (3Y) Largest decline over 3 years	—	-44.83%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-55.79%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-80.29%	—
Current Drawdown Current decline from peak	-27.36%	-2.65%	-24.71%
Average Drawdown Average peak-to-trough decline	-22.25%	-14.37%	-7.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.91%	7.94%	+16.97%

Volatility

FNGU vs. UDOW - Volatility Comparison

MicroSectors FANG+ 3X Leveraged ETNs (FNGU) has a higher volatility of 27.31% compared to ProShares UltraPro Dow30 (UDOW) at 12.92%. This indicates that FNGU's price experiences larger fluctuations and is considered to be riskier than UDOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNGU	UDOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.31%	12.92%	+14.39%
Volatility (6M) Calculated over the trailing 6-month period	50.15%	29.12%	+21.03%
Volatility (1Y) Calculated over the trailing 1-year period	61.43%	37.38%	+24.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	79.93%	44.39%	+35.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	79.93%	51.84%	+28.09%

FNGU vs. UDOW - Expense Ratio Comparison

FNGU has a 2.60% expense ratio, which is higher than UDOW's 0.95% expense ratio.

Dividends

FNGU vs. UDOW - Dividend Comparison

FNGU has not paid dividends to shareholders, while UDOW's dividend yield for the trailing twelve months is around 1.18%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNGU MicroSectors FANG+ 3X Leveraged ETNs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UDOW ProShares UltraPro Dow30	1.18%	1.38%	0.95%	0.95%	0.83%	0.26%	0.19%	0.61%	0.73%	0.13%	0.26%	0.21%

Frequently Asked Questions

Can I hold both FNGU and UDOW in my portfolio?

FNGU and UDOW have a correlation of 0.47, 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 UDOW?

FNGU has higher volatility (27.31%) compared to UDOW (12.92%). In terms of maximum drawdown, FNGU dropped -61.30% vs UDOW's -80.29%.

Which ETF is better, FNGU or UDOW?

On 1-year performance, UDOW leads with 51.98% vs 21.24% for FNGU. On fees, UDOW is cheaper at 0.95% per year. On volatility, UDOW has been the lower-risk option at 12.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNGU or UDOW?

Over the 1-year period, UDOW has performed better with a 51.98% return vs 21.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNGU or UDOW?

UDOW is cheaper with a 0.95% expense ratio, compared with 2.60% for FNGU.

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

UDOW has the higher dividend yield at 1.18%, compared with 0.00% for FNGU.

What is the main difference between FNGU and UDOW?

FNGU tracks NYSE FANG+ Index (Gross Total Return) (300%), while UDOW tracks Dow Jones Industrial Average (300%). They also come from different issuers: Bank of Montreal and ProShares. Their fees differ too: 2.60% for FNGU and 0.95% for UDOW.

Which has better risk-adjusted returns?

UDOW currently has the higher Sharpe Ratio (1.40 vs 0.35), 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.