IGHG vs. FNGU
IGHG (ProShares Investment Grade-Interest Rate Hedged) and FNGU (MicroSectors FANG+ 3X Leveraged ETNs) are both exchange-traded funds - IGHG is a Corporate Bonds fund tracking the Citi Corporate Investment Grade (Treasury Rate-Hedged) Index, while FNGU is a Leveraged Equities fund tracking the NYSE FANG+ Index (Gross Total Return) (300%). Both are passively managed. Over the past year, IGHG returned 5.77% vs 64.67% for FNGU. At a 0.45 correlation, their price movements are largely independent. IGHG charges 0.30%/yr vs 2.60%/yr for FNGU.
Performance
IGHG vs. FNGU - Performance Comparison
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Returns By Period
In the year-to-date period, IGHG achieves a 2.17% return, which is significantly lower than FNGU's 36.18% return.
IGHG
- 1D
- 0.05%
- 1M
- 0.76%
- YTD
- 2.17%
- 6M
- 2.54%
- 1Y
- 5.77%
- 3Y*
- 8.57%
- 5Y*
- 5.24%
- 10Y*
- 4.72%
FNGU
- 1D
- -3.75%
- 1M
- 33.96%
- YTD
- 36.18%
- 6M
- 16.22%
- 1Y
- 64.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IGHG vs. FNGU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IGHG ProShares Investment Grade-Interest Rate Hedged | 2.17% | 5.28% |
FNGU MicroSectors FANG+ 3X Leveraged ETNs | 36.18% | 4.24% |
Correlation
The correlation between IGHG and FNGU is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025 | 0.45 |
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Return for Risk
IGHG vs. FNGU — Risk / Return Rank
IGHG
FNGU
IGHG vs. FNGU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Investment Grade-Interest Rate Hedged (IGHG) and MicroSectors FANG+ 3X Leveraged ETNs (FNGU). 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.
| IGHG | FNGU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.55 | ||
| Sortino ratioReturn per unit of downside risk | +0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.21 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.31 | 1.09 | +2.22 |
| Martin ratioReturn relative to average drawdown | 11.71 | 2.64 | +9.07 |
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
| IGHG | FNGU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.68 | 1.13 | +0.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.05 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.40 | +0.13 |
Drawdowns
IGHG vs. FNGU - Drawdown Comparison
The maximum IGHG drawdown since its inception was -25.16%, smaller than the maximum FNGU drawdown of -60.84%. Use the drawdown chart below to compare losses from any high point for IGHG and FNGU.
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Drawdown Indicators
| IGHG | FNGU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.16% | -60.84% | +35.68% |
Max Drawdown (1Y)Largest decline over 1 year | -1.75% | -59.55% | +57.80% |
Max Drawdown (3Y)Largest decline over 3 years | -3.74% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -8.75% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -25.16% | — | — |
Current DrawdownCurrent decline from peak | -0.11% | -4.84% | +4.73% |
Average DrawdownAverage peak-to-trough decline | -2.30% | -22.06% | +19.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.50% | 24.57% | -24.07% |
Volatility
IGHG vs. FNGU - Volatility Comparison
The current volatility for ProShares Investment Grade-Interest Rate Hedged (IGHG) is 0.62%, while MicroSectors FANG+ 3X Leveraged ETNs (FNGU) has a volatility of 16.40%. This indicates that IGHG experiences smaller price fluctuations and is considered to be less risky than FNGU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGHG | FNGU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.62% | 16.40% | -15.78% |
Volatility (6M)Calculated over the trailing 6-month period | 2.53% | 44.77% | -42.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.44% | 57.50% | -54.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.02% | 78.60% | -73.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.46% | 78.60% | -71.14% |
IGHG vs. FNGU - Expense Ratio Comparison
IGHG has a 0.30% expense ratio, which is lower than FNGU's 2.60% expense ratio.
Dividends
IGHG vs. FNGU - Dividend Comparison
IGHG's dividend yield for the trailing twelve months is around 5.11%, while FNGU has not paid dividends to shareholders.
| 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% |
IGHG ProShares Investment Grade-Interest Rate Hedged | 5.11% | 5.14% | 5.06% | 4.99% | 3.55% | 2.50% | 2.79% | 3.48% | 4.13% | 3.36% | 3.37% | 3.65% |
Frequently Asked Questions
IGHG and FNGU have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNGU has higher volatility (16.40%) compared to IGHG (0.62%). In terms of maximum drawdown, IGHG dropped -25.16% vs FNGU's -60.84%.
On 1-year performance, FNGU leads with 64.67% vs 5.77% for IGHG. On fees, IGHG is cheaper at 0.30% per year. On volatility, IGHG has been the lower-risk option at 0.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FNGU has performed better with a 64.67% return vs 5.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGHG is cheaper with a 0.30% expense ratio, compared with 2.60% for FNGU.
IGHG has the higher dividend yield at 5.11%, compared with 0.00% for FNGU.
IGHG is categorized as Corporate Bonds, while FNGU is Leveraged Equities. IGHG tracks Citi Corporate Investment Grade (Treasury Rate-Hedged) Index, while FNGU tracks NYSE FANG+ Index (Gross Total Return) (300%). They also come from different issuers: ProShares and Bank of Montreal. Their fees differ too: 0.30% for IGHG and 2.60% for FNGU.
IGHG currently has the higher Sharpe Ratio (1.68 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.
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