MAGSX vs. FNGS

Last updated Jun 23, 2026

MAGSX (Madison Aggressive Allocation Fund) and FNGS (MicroSectors FANG+ ETN) are both funds - MAGSX is a Diversified Portfolio fund managed by Madison Funds, while FNGS is a Large Cap Growth Equities fund tracking the NYSE FANG+ Index. Over the past 5 years, MAGSX returned 5.78%/yr vs 18.98%/yr for FNGS. A 0.70 correlation means they provide meaningful diversification when combined. MAGSX charges 0.71%/yr vs 0.58%/yr for FNGS.

Performance

MAGSX vs. FNGS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Madison Aggressive Allocation Fund (MAGSX) and MicroSectors FANG+ ETN (FNGS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MAGSX achieves a 11.47% return, which is significantly higher than FNGS's 8.21% return.

MAGSX

• 1D: 1.06%
• 1M: 2.37%
• YTD: 11.47%
• 6M: 10.83%
• 1Y: 22.15%
• 3Y*: 12.04%
• 5Y*: 5.78%
• 10Y*: 7.69%

FNGS

• 1D: -3.05%
• 1M: -1.23%
• YTD: 8.21%
• 6M: 7.55%
• 1Y: 20.76%
• 3Y*: 30.34%
• 5Y*: 18.98%
• 10Y*: —

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

MAGSX vs. FNGS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
MAGSX Madison Aggressive Allocation Fund	11.47%	12.48%	6.46%	12.32%	-15.38%	9.50%	9.65%	2.36%
FNGS MicroSectors FANG+ ETN	8.21%	18.64%	51.99%	95.24%	-40.32%	16.96%	101.99%	10.10%

Correlation

The correlation between MAGSX and FNGS is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Nov 13, 2019	0.70

The correlation between MAGSX and FNGS shifts across timeframes, from 0.58 (1 year) to 0.70 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

MAGSX vs. FNGS — Risk / Return Rank

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

MAGSX

MAGSX Risk / Return Rank: 52
MAGSX Sharpe Ratio Rank: 52
MAGSX Sortino Ratio Rank: 52
MAGSX Omega Ratio Rank: 49
MAGSX Calmar Ratio Rank: 48
MAGSX Martin Ratio Rank: 56

FNGS

FNGS Risk / Return Rank: 24
FNGS Sharpe Ratio Rank: 27
FNGS Sortino Ratio Rank: 26
FNGS Omega Ratio Rank: 25
FNGS Calmar Ratio Rank: 20
FNGS Martin Ratio Rank: 21

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.

MAGSX vs. FNGS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Madison Aggressive Allocation Fund (MAGSX) 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.

	MAGSX	FNGS	Difference
Sharpe ratio: Return per unit of total volatility	1.96	0.93	+1.03
Sortino ratio: Return per unit of downside risk	2.79	1.38	+1.41
Omega ratio: Gain probability vs. loss probability	1.35	1.17	+0.18
Calmar ratio: Return relative to maximum drawdown	2.54	0.91	+1.63
Martin ratio: Return relative to average drawdown	10.65	2.56	+8.08

MAGSX vs. FNGS - Sharpe Ratio Comparison

The current MAGSX Sharpe Ratio is 1.96, which is higher than the FNGS Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of MAGSX 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.

Drawdowns

MAGSX vs. FNGS - Drawdown Comparison

The maximum MAGSX drawdown since its inception was -56.06%, which is greater than FNGS's maximum drawdown of -48.98%. Use the drawdown chart below to compare losses from any high point for MAGSX and FNGS.

Drawdown Indicators

	MAGSX	FNGS	Difference
Max Drawdown Largest peak-to-trough decline	-56.06%	-48.98%	-7.08%
Max Drawdown (1Y) Largest decline over 1 year	-8.63%	-22.93%	+14.30%
Max Drawdown (3Y) Largest decline over 3 years	-15.35%	-26.77%	+11.42%
Max Drawdown (5Y) Largest decline over 5 years	-21.13%	-48.98%	+27.85%
Max Drawdown (10Y) Largest decline over 10 years	-23.20%	—	—
Current Drawdown Current decline from peak	-0.30%	-8.42%	+8.12%
Average Drawdown Average peak-to-trough decline	-9.45%	-10.84%	+1.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	8.11%	-6.05%

Volatility

MAGSX vs. FNGS - Volatility Comparison

The current volatility for Madison Aggressive Allocation Fund (MAGSX) is 4.48%, while MicroSectors FANG+ ETN (FNGS) has a volatility of 10.75%. This indicates that MAGSX 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.

Volatility by Period

	MAGSX	FNGS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.48%	10.75%	-6.27%
Volatility (6M) Calculated over the trailing 6-month period	9.31%	17.87%	-8.56%
Volatility (1Y) Calculated over the trailing 1-year period	11.19%	22.54%	-11.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.28%	30.24%	-17.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.12%	31.23%	-18.11%

MAGSX vs. FNGS - Expense Ratio Comparison

MAGSX has a 0.71% expense ratio, which is higher than FNGS's 0.58% expense ratio.

Dividends

MAGSX vs. FNGS - Dividend Comparison

MAGSX's dividend yield for the trailing twelve months is around 5.53%, 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%
MAGSX Madison Aggressive Allocation Fund	5.53%	6.17%	2.02%	1.89%	1.26%	9.97%	8.66%	5.42%	10.79%	5.89%	3.82%	9.57%

Frequently Asked Questions

Can I hold both MAGSX and FNGS in my portfolio?

MAGSX and FNGS have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAGSX or FNGS?

FNGS has higher volatility (10.75%) compared to MAGSX (4.48%). In terms of maximum drawdown, MAGSX dropped -56.06% vs FNGS's -48.98%.

Which has better risk-adjusted returns?

MAGSX currently has the higher Sharpe Ratio (1.96 vs 0.93), 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.