FNGU vs. XDSQ

Last updated Jun 4, 2026

FNGU (MicroSectors FANG+ 3X Leveraged ETNs) and XDSQ (Innovator US Equity Accelerated ETF) are both Leveraged Equities funds. FNGU is passively managed, while XDSQ is actively managed. Over the past year, FNGU returned 64.67% vs 15.98% for XDSQ. A 0.72 correlation means they provide meaningful diversification when combined. FNGU charges 2.60%/yr vs 0.79%/yr for XDSQ.

Performance

FNGU vs. XDSQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG+ 3X Leveraged ETNs (FNGU) and Innovator US Equity Accelerated ETF (XDSQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNGU achieves a 36.18% return, which is significantly higher than XDSQ's 2.80% return.

FNGU

• 1D: -3.75%
• 1M: 33.96%
• YTD: 36.18%
• 6M: 16.22%
• 1Y: 64.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XDSQ

• 1D: 0.01%
• 1M: 1.59%
• YTD: 2.80%
• 6M: 3.86%
• 1Y: 15.98%
• 3Y*: 15.02%
• 5Y*: 9.80%
• 10Y*: —

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

FNGU vs. XDSQ - Yearly Performance Comparison

	2026 (YTD)	2025
FNGU MicroSectors FANG+ 3X Leveraged ETNs	36.18%	4.24%
XDSQ Innovator US Equity Accelerated ETF	2.80%	9.61%

Correlation

The correlation between FNGU and XDSQ is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025	0.72

The correlation between FNGU and XDSQ has been stable across timeframes, ranging from 0.69 to 0.72 - a consistent structural relationship.

FNGU vs. XDSQ - Sectors Allocation Comparison

Sectors	FNGU	XDSQ
Technology	60.6%	35.7%
Communication Services	29.8%	11.3%
Consumer Cyclical	9.6%	10.2%
Basic Materials	-	1.8%
Consumer Defensive	-	4.9%
Energy	-	3.5%
Financial Services	-	11.6%
Healthcare	-	8.5%
Industrials	-	8.3%
Real Estate	-	1.9%
Utilities	-	2.4%

Return for Risk

FNGU vs. XDSQ — Risk / Return Rank

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

FNGU

FNGU Risk / Return Rank: 27
FNGU Sharpe Ratio Rank: 30
FNGU Sortino Ratio Rank: 31
FNGU Omega Ratio Rank: 30
FNGU Calmar Ratio Rank: 23
FNGU Martin Ratio Rank: 21

XDSQ

XDSQ Risk / Return Rank: 43
XDSQ Sharpe Ratio Rank: 43
XDSQ Sortino Ratio Rank: 41
XDSQ Omega Ratio Rank: 50
XDSQ Calmar Ratio Rank: 34
XDSQ Martin Ratio Rank: 47

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. XDSQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+ 3X Leveraged ETNs (FNGU) and Innovator US Equity Accelerated ETF (XDSQ). 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	XDSQ	Difference
Sharpe ratio: Return per unit of total volatility	1.13	1.52	-0.39
Sortino ratio: Return per unit of downside risk	1.69	2.09	-0.40
Omega ratio: Gain probability vs. loss probability	1.21	1.32	-0.10
Calmar ratio: Return relative to maximum drawdown	1.09	1.67	-0.58
Martin ratio: Return relative to average drawdown	2.64	7.97	-5.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNGU vs. XDSQ - Sharpe Ratio Comparison

The current FNGU Sharpe Ratio is 1.13, which is comparable to the XDSQ Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of FNGU and XDSQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FNGU	XDSQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.13	1.52	-0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.69	-0.29

Drawdowns

FNGU vs. XDSQ - Drawdown Comparison

The maximum FNGU drawdown since its inception was -60.84%, which is greater than XDSQ's maximum drawdown of -26.06%. Use the drawdown chart below to compare losses from any high point for FNGU and XDSQ.

Drawdown Indicators

	FNGU	XDSQ	Difference
Max Drawdown Largest peak-to-trough decline	-60.84%	-26.06%	-34.78%
Max Drawdown (1Y) Largest decline over 1 year	-59.55%	-9.60%	-49.95%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.15%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.06%	—
Current Drawdown Current decline from peak	-4.84%	0.00%	-4.84%
Average Drawdown Average peak-to-trough decline	-22.06%	-4.96%	-17.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.57%	2.01%	+22.56%

Volatility

FNGU vs. XDSQ - Volatility Comparison

MicroSectors FANG+ 3X Leveraged ETNs (FNGU) has a higher volatility of 16.40% compared to Innovator US Equity Accelerated ETF (XDSQ) at 0.57%. This indicates that FNGU's price experiences larger fluctuations and is considered to be riskier than XDSQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNGU	XDSQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.40%	0.57%	+15.83%
Volatility (6M) Calculated over the trailing 6-month period	44.77%	8.40%	+36.37%
Volatility (1Y) Calculated over the trailing 1-year period	57.50%	10.56%	+46.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	78.60%	15.27%	+63.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	78.60%	15.10%	+63.50%

FNGU vs. XDSQ - Expense Ratio Comparison

FNGU has a 2.60% expense ratio, which is higher than XDSQ's 0.79% expense ratio.

Dividends

FNGU vs. XDSQ - Dividend Comparison

Neither FNGU nor XDSQ has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FNGU and XDSQ in my portfolio?

FNGU and XDSQ have a correlation of 0.69, 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 XDSQ?

FNGU has higher volatility (16.40%) compared to XDSQ (0.57%). In terms of maximum drawdown, FNGU dropped -60.84% vs XDSQ's -26.06%.

Which ETF is better, FNGU or XDSQ?

On 1-year performance, FNGU leads with 64.67% vs 15.98% for XDSQ. On fees, XDSQ is cheaper at 0.79% per year. On volatility, XDSQ has been the lower-risk option at 0.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNGU or XDSQ?

Over the 1-year period, FNGU has performed better with a 64.67% return vs 15.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNGU or XDSQ?

XDSQ is cheaper with a 0.79% expense ratio, compared with 2.60% for FNGU.

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

FNGU and XDSQ have nearly identical dividend yields, around 0.00%.

What is the main difference between FNGU and XDSQ?

They also come from different issuers: Bank of Montreal and Innovator. Their fees differ too: 2.60% for FNGU and 0.79% for XDSQ.

Which has better risk-adjusted returns?

XDSQ currently has the higher Sharpe Ratio (1.52 vs 1.13), 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.