IYW vs. FNGS
IYW (iShares U.S. Technology ETF) and FNGS (MicroSectors FANG+ ETN) are both exchange-traded funds - IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index, while FNGS is a Large Cap Growth Equities fund tracking the NYSE FANG+ Index. Both are passively managed. Over the past 5 years, IYW returned 21.19%/yr vs 19.76%/yr for FNGS. Their correlation of 0.89 suggests significant overlap in exposure. IYW charges 0.38%/yr vs 0.58%/yr for FNGS.
Performance
IYW vs. FNGS - Performance Comparison
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Returns By Period
In the year-to-date period, IYW achieves a 22.66% return, which is significantly higher than FNGS's 6.79% return.
IYW
- 1D
- 0.61%
- 1M
- 1.73%
- YTD
- 22.66%
- 6M
- 23.40%
- 1Y
- 47.94%
- 3Y*
- 32.06%
- 5Y*
- 21.19%
- 10Y*
- 25.63%
FNGS
- 1D
- -0.94%
- 1M
- -3.20%
- YTD
- 6.79%
- 6M
- 4.25%
- 1Y
- 17.02%
- 3Y*
- 29.80%
- 5Y*
- 19.76%
- 10Y*
- —
IYW vs. FNGS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IYW iShares U.S. Technology ETF | 22.66% | 25.38% | 30.25% | 65.44% | -34.83% | 35.44% | 47.45% | 5.94% |
FNGS MicroSectors FANG+ ETN | 6.79% | 18.64% | 51.99% | 95.24% | -40.32% | 16.96% | 101.99% | 10.10% |
Correlation
The correlation between IYW and FNGS is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2019 | 0.89 |
The correlation between IYW and FNGS has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.
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Return for Risk
IYW vs. FNGS — Risk / Return Rank
IYW
FNGS
IYW vs. FNGS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Technology ETF (IYW) 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.
| IYW | FNGS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.45 | ||
| Sortino ratioReturn per unit of downside risk | +1.63 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.15 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.70 | 0.75 | +1.96 |
| Martin ratioReturn relative to average drawdown | 8.68 | 2.12 | +6.56 |
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Drawdowns
IYW vs. FNGS - Drawdown Comparison
The maximum IYW drawdown since its inception was -81.90%, which is greater than FNGS's maximum drawdown of -48.98%. Use the drawdown chart below to compare losses from any high point for IYW and FNGS.
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Drawdown Indicators
| IYW | FNGS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.90% | -48.98% | -32.92% |
Max Drawdown (1Y)Largest decline over 1 year | -17.81% | -22.93% | +5.12% |
Max Drawdown (3Y)Largest decline over 3 years | -26.47% | -26.77% | +0.30% |
Max Drawdown (5Y)Largest decline over 5 years | -39.44% | -48.98% | +9.54% |
Max Drawdown (10Y)Largest decline over 10 years | -39.44% | — | — |
Current DrawdownCurrent decline from peak | -5.81% | -9.63% | +3.82% |
Average DrawdownAverage peak-to-trough decline | -34.62% | -10.85% | -23.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.54% | 8.05% | -2.51% |
Volatility
IYW vs. FNGS - Volatility Comparison
iShares U.S. Technology ETF (IYW) has a higher volatility of 9.41% compared to MicroSectors FANG+ ETN (FNGS) at 8.74%. This indicates that IYW's price experiences larger fluctuations and is considered to be riskier 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
| IYW | FNGS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.41% | 8.74% | +0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 17.67% | 17.19% | +0.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.47% | 21.65% | -0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.07% | 30.10% | -4.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.20% | 31.17% | -5.97% |
IYW vs. FNGS - Expense Ratio Comparison
IYW has a 0.38% expense ratio, which is lower than FNGS's 0.58% expense ratio.
Dividends
IYW vs. FNGS - Dividend Comparison
IYW's dividend yield for the trailing twelve months is around 0.11%, while FNGS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IYW iShares U.S. Technology ETF | 0.11% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
Frequently Asked Questions
IYW and FNGS have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYW has higher volatility (9.41%) compared to FNGS (8.74%). In terms of maximum drawdown, IYW dropped -81.90% vs FNGS's -48.98%.
On 5-year performance, IYW leads with 21.19% vs 19.76% for FNGS. On fees, IYW is cheaper at 0.38% per year. On volatility, FNGS has been the lower-risk option at 8.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IYW has performed better with a 21.19% return vs 19.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYW is cheaper with a 0.38% expense ratio, compared with 0.58% for FNGS.
IYW has the higher dividend yield at 0.11%, compared with 0.00% for FNGS.
IYW is categorized as Technology Equities, while FNGS is Large Cap Growth Equities. IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index, while FNGS tracks NYSE FANG+ Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.38% for IYW and 0.58% for FNGS.
IYW currently has the higher Sharpe Ratio (2.24 vs 0.79), 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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