MAGX vs. FNGG

Last updated Aug 5, 2026

MAGX (Roundhill Daily 2X Long Magnificent Seven ETF) and FNGG (Direxion Daily NYSE FANG+ Bull 2X Shares) are both Leveraged Equities funds. MAGX is actively managed, while FNGG is passively managed. Over the past year, MAGX returned 28.07% vs 35.20% for FNGG. Their correlation of 0.87 means they have usually moved in the same direction. MAGX charges 0.95%/yr vs 0.97%/yr for FNGG.

Performance

MAGX vs. FNGG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) and Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MAGX achieves a 0.37% return, which is significantly lower than FNGG's 27.81% return.

MAGX

• 1D: 0.95%
• 1M: 9.92%
• 6M: 4.52%
• YTD: 0.37%
• 1Y: 28.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 41.16%

FNGG

• 1D: 8.77%
• 1M: 16.10%
• 6M: 41.34%
• YTD: 27.81%
• 1Y: 35.20%
• 3Y*: 56.52%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.05%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FNGG Direxion Daily NYSE FANG+ Bull 2X Shares	$859.19K	$849.94K	$1.69M
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	$3.93M	$4.39M	$4.75M

MAGX vs. FNGG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	0.37%	26.16%	82.41%
FNGG Direxion Daily NYSE FANG+ Bull 2X Shares	27.81%	27.21%	54.91%

Correlation

The correlation between MAGX and FNGG is 0.84, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.84
Correlation (All Time) Calculated using the full available price history since Feb 29, 2024	0.87

The correlation between MAGX and FNGG has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.

MAGX vs. FNGG - Sectors Allocation Comparison

Sectors	MAGX	FNGG
Financial Services	35.6%	-
Basic Materials	-	-
Communication Services	-	29.6%
Consumer Cyclical	-	10.2%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	60.2%
Utilities	-	-

Return for Risk

MAGX vs. FNGG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MAGX

MAGX Risk / Return Rank: 25
MAGX Sharpe Ratio Rank: 25
MAGX Sortino Ratio Rank: 27
MAGX Omega Ratio Rank: 26
MAGX Calmar Ratio Rank: 24
MAGX Martin Ratio Rank: 24

FNGG

FNGG Risk / Return Rank: 28
FNGG Sharpe Ratio Rank: 30
FNGG Sortino Ratio Rank: 31
FNGG Omega Ratio Rank: 30
FNGG Calmar Ratio Rank: 25
FNGG Martin Ratio Rank: 24

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MAGX vs. FNGG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) and Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG). 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.

	MAGX	FNGG	Difference
Sharpe ratio: Return per unit of total volatility	0.63	0.79	-0.15
Sortino ratio: Return per unit of downside risk	1.12	1.31	-0.19
Omega ratio: Gain probability vs. loss probability	1.13	1.16	-0.02
Calmar ratio: Return relative to maximum drawdown	0.76	0.82	-0.06
Martin ratio: Return relative to average drawdown	2.03	2.00	+0.03

MAGX vs. FNGG - Sharpe Ratio Comparison

The current MAGX Sharpe Ratio is 0.63, which is comparable to the FNGG Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of MAGX and FNGG, 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

MAGX vs. FNGG - Drawdown Comparison

The maximum MAGX drawdown since its inception was -54.19%, smaller than the maximum FNGG drawdown of -91.33%. Use the drawdown chart below to compare losses from any high point for MAGX and FNGG.

Drawdown Indicators

	MAGX	FNGG	Difference
Max Drawdown Largest peak-to-trough decline	-54.19%	-91.33%	+37.14%
Max Drawdown (1Y) Largest decline over 1 year	-37.24%	-43.01%	+5.77%
Max Drawdown (3Y) Largest decline over 3 years	—	-47.03%	—
Current Drawdown Current decline from peak	-8.51%	-5.47%	-3.04%
Average Drawdown Average peak-to-trough decline	-13.91%	-54.66%	+40.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.85%	17.60%	-3.75%

Volatility

MAGX vs. FNGG - Volatility Comparison

Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) has a higher volatility of 17.19% compared to Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG) at 15.24%. This indicates that MAGX's price experiences larger fluctuations and is considered to be riskier than FNGG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAGX	FNGG	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.19%	15.24%	+1.95%
Volatility (6M) Calculated over the trailing 6-month period	35.81%	36.94%	-1.13%
Volatility (1Y) Calculated over the trailing 1-year period	44.80%	45.19%	-0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.95%	67.39%	-13.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.95%	67.39%	-13.44%

MAGX vs. FNGG - Expense Ratio Comparison

MAGX has a 0.95% expense ratio, which is lower than FNGG's 0.97% expense ratio.

Dividends

MAGX vs. FNGG - Dividend Comparison

MAGX's dividend yield for the trailing twelve months is around 2.04%, less than FNGG's 9.31% yield.

Position	TTM	2025	2024	2023	2022	2021
FNGG Direxion Daily NYSE FANG+ Bull 2X Shares	9.31%	11.89%	0.79%	0.88%	0.00%	4.99%
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	2.04%	2.05%	0.86%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MAGX and FNGG in my portfolio?

MAGX and FNGG have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAGX or FNGG?

MAGX has higher volatility (17.19%) compared to FNGG (15.24%). In terms of maximum drawdown, MAGX dropped -54.19% vs FNGG's -91.33%.

Which ETF is better, MAGX or FNGG?

On 1-year performance, FNGG leads with 35.20% vs 28.07% for MAGX. On fees, MAGX is cheaper at 0.95% per year. On volatility, FNGG has been the lower-risk option at 15.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAGX or FNGG?

Over the 1-year period, FNGG has performed better with a 35.20% return vs 28.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAGX or FNGG?

MAGX is cheaper with a 0.95% expense ratio, compared with 0.97% for FNGG.

Which ETF pays a higher dividend yield, MAGX or FNGG?

FNGG has the higher dividend yield at 9.31%, compared with 2.04% for MAGX.

What is the main difference between MAGX and FNGG?

They also come from different issuers: Roundhill and Direxion. Their fees differ too: 0.95% for MAGX and 0.97% for FNGG.

Which has better risk-adjusted returns?

FNGG currently has the higher Sharpe Ratio (0.79 vs 0.63), 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.