MAGX vs. FNGG

Last updated Apr 1, 2026

Compare and contrast key facts about Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) and Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG).

MAGX and FNGG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MAGX is an actively managed fund by Roundhill. It was launched on Feb 28, 2024. FNGG is a passively managed fund by Direxion that tracks the performance of the NYSE FANG+ Index (2x Leveraged). It was launched on Sep 30, 2021.

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.

MAGX vs. FNGG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	-25.26%	26.16%	81.14%
FNGG Direxion Daily NYSE FANG+ Bull 2X Shares	-25.51%	27.21%	57.25%

Returns By Period

The year-to-date returns for both stocks are quite close, with MAGX having a -25.26% return and FNGG slightly lower at -25.51%.

MAGX

• 1D: 9.45%
• 1M: -11.57%
• YTD: -25.26%
• 6M: -22.65%
• 1Y: 39.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FNGG

• 1D: 9.29%
• 1M: -9.53%
• YTD: -25.51%
• 6M: -30.33%
• 1Y: 27.54%
• 3Y*: 50.64%
• 5Y*: —
• 10Y*: —

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

MAGX vs. FNGG - Expense Ratio Comparison

MAGX has a 0.95% expense ratio, which is lower than FNGG's 0.98% expense ratio.

FNGG

Direxion Daily NYSE FANG+ Bull 2X Shares

MAGX

Roundhill Daily 2X Long Magnificent Seven ETF

Return for Risk

MAGX vs. FNGG — Risk / Return Rank

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

MAGX

MAGX Risk / Return Rank: 45
MAGX Sharpe Ratio Rank: 40
MAGX Sortino Ratio Rank: 55
MAGX Omega Ratio Rank: 50
MAGX Calmar Ratio Rank: 43
MAGX Martin Ratio Rank: 37

FNGG

FNGG Risk / Return Rank: 33
FNGG Sharpe Ratio Rank: 30
FNGG Sortino Ratio Rank: 43
FNGG Omega Ratio Rank: 39
FNGG Calmar Ratio Rank: 28
FNGG Martin Ratio Rank: 25

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.

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.

	MAGX	FNGG	Difference
Sharpe ratio Return per unit of total volatility	0.69	0.51	+0.18
Sortino ratio Return per unit of downside risk	1.36	1.13	+0.24
Omega ratio Gain probability vs. loss probability	1.18	1.15	+0.03
Calmar ratio Return relative to maximum drawdown	1.00	0.61	+0.39
Martin ratio Return relative to average drawdown	3.19	1.73	+1.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MAGX vs. FNGG - Sharpe Ratio Comparison

The current MAGX Sharpe Ratio is 0.69, which is higher than the FNGG Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of MAGX and FNGG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MAGX	FNGG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.69	0.51	+0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	-0.11	+0.65

Correlation

The correlation between MAGX and FNGG is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

MAGX vs. FNGG - Dividend Comparison

MAGX's dividend yield for the trailing twelve months is around 2.74%, less than FNGG's 15.91% yield.

	TTM	2025	2024	2023	2022	2021
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	2.74%	2.05%	0.86%	0.00%	0.00%	0.00%
FNGG Direxion Daily NYSE FANG+ Bull 2X Shares	15.91%	11.89%	0.79%	0.88%	0.00%	4.99%

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%
Current Drawdown Current decline from peak	-31.30%	-44.91%	+13.61%
Average Drawdown Average peak-to-trough decline	-14.05%	-57.36%	+43.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.65%	15.04%	-3.39%

Volatility

MAGX vs. FNGG - Volatility Comparison

Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) has a higher volatility of 16.68% compared to Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG) at 15.75%. 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	16.68%	15.75%	+0.93%
Volatility (6M) Calculated over the trailing 6-month period	30.86%	30.35%	+0.51%
Volatility (1Y) Calculated over the trailing 1-year period	57.13%	54.10%	+3.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.62%	68.41%	-13.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.62%	68.41%	-13.79%