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IAK vs. FNGS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IAK vs. FNGS

Last updated Jun 13, 2026

IAK (iShares U.S. Insurance ETF) and FNGS (MicroSectors FANG+ ETN) are both exchange-traded funds - IAK is a Financials Equities fund tracking the Dow Jones U.S. Select Insurance Index, while FNGS is a Large Cap Growth Equities fund tracking the NYSE FANG+ Index. Both are passively managed. Over the past 5 years, IAK returned 13.37%/yr vs 19.76%/yr for FNGS. At a 0.21 correlation, their price movements are largely independent. IAK charges 0.43%/yr vs 0.58%/yr for FNGS.

Performance

IAK vs. FNGS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Insurance ETF (IAK) and MicroSectors FANG+ ETN (FNGS). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IAK achieves a 1.11% return, which is significantly lower than FNGS's 6.79% return.

IAK

1D
0.68%
1M
4.20%
YTD
1.11%
6M
0.88%
1Y
4.33%
3Y*
18.27%
5Y*
13.37%
10Y*
12.67%

FNGS

1D
-0.94%
1M
-3.20%
YTD
6.79%
6M
4.25%
1Y
17.02%
3Y*
29.80%
5Y*
19.76%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IAK vs. FNGS - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
IAK
iShares U.S. Insurance ETF		1.11%9.50%28.25%11.28%11.33%26.84%-2.86%0.60%
FNGS
MicroSectors FANG+ ETN		6.79%18.64%51.99%95.24%-40.32%16.96%101.99%10.10%

Correlation

The correlation between IAK and FNGS is -0.19, 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

-0.19

Correlation (3Y)
Calculated over the trailing 3-year period

-0.01

Correlation (5Y)
Calculated over the trailing 5-year period

0.19

Correlation (All Time)
Calculated using the full available price history since Nov 13, 2019

0.21

The correlation between IAK and FNGS shifts across timeframes, from -0.19 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.

IAK vs. FNGS - Sectors Allocation Comparison

Sectors
IAK
FNGS

Financial Services

99.5%
10.0%

Healthcare

0.5%

-

Basic Materials

-

-

Communication Services

-

28.8%

Consumer Cyclical

-

11.3%

Consumer Defensive

-

-

Energy

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

59.9%

Utilities

-

-

Financial Services

IAK
99.5%
FNGS
10.0%

Healthcare

IAK
0.5%
FNGS

-

Basic Materials

IAK

-

FNGS

-

Communication Services

IAK

-

FNGS
28.8%

Consumer Cyclical

IAK

-

FNGS
11.3%

Consumer Defensive

IAK

-

FNGS

-

Energy

IAK

-

FNGS

-

Industrials

IAK

-

FNGS

-

Real Estate

IAK

-

FNGS

-

Technology

IAK

-

FNGS
59.9%

Utilities

IAK

-

FNGS

-

Compare stocks, funds, or ETFs

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iShares U.S. Insurance ETF

MicroSectors FANG+ ETN

Often compared with IAK:
IAK vs. KIEIAK vs. KBWPIAK vs. IHEIAK vs. DIVBIAK vs. INFLIAK vs. VYMIAK vs. VTI
Often compared with FNGS:
FNGS vs. MAGSFNGS vs. SPYFNGS vs. QQQFNGS vs. FNGOFNGS vs. QLDFNGS vs. SMHFNGS vs. MON100.NS

Return for Risk

IAK vs. FNGS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IAK
IAK Risk / Return Rank: 1515
Overall Rank
IAK Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
IAK Sortino Ratio Rank: 1313
Sortino Ratio Rank
IAK Omega Ratio Rank: 1313
Omega Ratio Rank
IAK Calmar Ratio Rank: 1717
Calmar Ratio Rank
IAK Martin Ratio Rank: 1616
Martin Ratio Rank
FNGS
FNGS Risk / Return Rank: 2323
Overall Rank
FNGS Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
FNGS Sortino Ratio Rank: 2424
Sortino Ratio Rank
FNGS Omega Ratio Rank: 2424
Omega Ratio Rank
FNGS Calmar Ratio Rank: 2020
Calmar Ratio Rank
FNGS Martin Ratio Rank: 2020
Martin Ratio Rank
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.

IAK vs. FNGS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Insurance ETF (IAK) and MicroSectors FANG+ ETN (FNGS). 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.

IAKFNGSDifference
Sharpe ratioReturn per unit of total volatility
0.29
0.79

-0.50

Sortino ratioReturn per unit of downside risk
0.50
1.19

-0.69

Omega ratioGain probability vs. loss probability

1.06

1.15

-0.09

Calmar ratioReturn relative to maximum drawdown

0.57

0.75

-0.17

Martin ratioReturn relative to average drawdown

1.27

2.12

-0.85

IAK vs. FNGS - Sharpe Ratio Comparison

The current IAK Sharpe Ratio is 0.29, which is lower than the FNGS Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of IAK and FNGS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

IAK vs. FNGS - Drawdown Comparison

The maximum IAK drawdown since its inception was -77.38%, which is greater than FNGS's maximum drawdown of -48.98%. Use the drawdown chart below to compare losses from any high point for IAK and FNGS.

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Drawdown Indicators

IAKFNGSDifference

Max Drawdown

Largest peak-to-trough decline

-77.38%

-48.98%

-28.40%

Max Drawdown (1Y)

Largest decline over 1 year

-7.62%

-22.93%

+15.31%

Max Drawdown (3Y)

Largest decline over 3 years

-11.58%

-26.77%

+15.19%

Max Drawdown (5Y)

Largest decline over 5 years

-14.76%

-48.98%

+34.22%

Max Drawdown (10Y)

Largest decline over 10 years

-44.95%

—

—

Current Drawdown

Current decline from peak

-0.23%

-9.63%

+9.40%

Average Drawdown

Average peak-to-trough decline

-16.11%

-10.85%

-5.26%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.41%

8.05%

-4.64%

Volatility

IAK vs. FNGS - Volatility Comparison

The current volatility for iShares U.S. Insurance ETF (IAK) is 5.49%, while MicroSectors FANG+ ETN (FNGS) has a volatility of 8.74%. This indicates that IAK experiences smaller price fluctuations and is considered to be less risky than FNGS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IAKFNGSDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.49%

8.74%

-3.25%

Volatility (6M)

Calculated over the trailing 6-month period

10.75%

17.19%

-6.44%

Volatility (1Y)

Calculated over the trailing 1-year period

15.10%

21.65%

-6.55%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.14%

30.10%

-11.96%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.92%

31.17%

-10.25%

IAK vs. FNGS - Expense Ratio Comparison

IAK has a 0.43% expense ratio, which is lower than FNGS's 0.58% expense ratio.

Dividends

IAK vs. FNGS - Dividend Comparison

IAK's dividend yield for the trailing twelve months is around 2.60%, while FNGS has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
FNGS
MicroSectors FANG+ 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%
IAK
iShares U.S. Insurance ETF		2.60%1.69%1.49%1.44%1.69%2.26%2.07%1.84%2.33%1.62%1.68%1.62%

Frequently Asked Questions

IAK and FNGS have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FNGS has higher volatility (8.74%) compared to IAK (5.49%). In terms of maximum drawdown, IAK dropped -77.38% vs FNGS's -48.98%.

On 5-year performance, FNGS leads with 19.76% vs 13.37% for IAK. On fees, IAK is cheaper at 0.43% per year. On volatility, IAK has been the lower-risk option at 5.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FNGS has performed better with a 19.76% return vs 13.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IAK is cheaper with a 0.43% expense ratio, compared with 0.58% for FNGS.

IAK has the higher dividend yield at 2.60%, compared with 0.00% for FNGS.

IAK is categorized as Financials Equities, while FNGS is Large Cap Growth Equities. IAK tracks Dow Jones U.S. Select Insurance Index, while FNGS tracks NYSE FANG+ Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.43% for IAK and 0.58% for FNGS.

FNGS currently has the higher Sharpe Ratio (0.79 vs 0.29), 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.

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