NVDX vs. FNGU

Last updated Jun 14, 2026

NVDX (T-REX 2X Long NVIDIA Daily Target ETF) and FNGU (MicroSectors FANG+ 3X Leveraged ETNs) are both Leveraged Equities funds. NVDX is actively managed, while FNGU is passively managed. Over the past year, NVDX returned 57.42% vs 25.83% for FNGU. A 0.70 correlation means they provide meaningful diversification when combined. NVDX charges 1.05%/yr vs 2.60%/yr for FNGU.

Performance

NVDX vs. FNGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-REX 2X Long NVIDIA Daily Target ETF (NVDX) and MicroSectors FANG+ 3X Leveraged ETNs (FNGU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVDX achieves a 5.90% return, which is significantly higher than FNGU's 3.96% return.

NVDX

• 1D: 0.28%
• 1M: -26.24%
• YTD: 5.90%
• 6M: 18.39%
• 1Y: 57.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FNGU

• 1D: -2.52%
• 1M: -13.99%
• YTD: 3.96%
• 6M: -3.67%
• 1Y: 25.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVDX vs. FNGU - Yearly Performance Comparison

	2026 (YTD)	2025
NVDX T-REX 2X Long NVIDIA Daily Target ETF	5.90%	29.58%
FNGU MicroSectors FANG+ 3X Leveraged ETNs	3.96%	3.02%

Correlation

The correlation between NVDX and FNGU is 0.63, 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	0.63
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.70

The correlation between NVDX and FNGU has been stable across timeframes, ranging from 0.63 to 0.70 - a consistent structural relationship.

NVDX vs. FNGU - Sectors Allocation Comparison

Sectors	NVDX	FNGU
Technology	100.0%	60.6%
Basic Materials	-	-
Communication Services	-	29.8%
Consumer Cyclical	-	9.6%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

NVDX vs. FNGU — Risk / Return Rank

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

NVDX

NVDX Risk / Return Rank: 26
NVDX Sharpe Ratio Rank: 24
NVDX Sortino Ratio Rank: 28
NVDX Omega Ratio Rank: 27
NVDX Calmar Ratio Rank: 27
NVDX Martin Ratio Rank: 23

FNGU

FNGU Risk / Return Rank: 16
FNGU Sharpe Ratio Rank: 15
FNGU Sortino Ratio Rank: 19
FNGU Omega Ratio Rank: 19
FNGU Calmar Ratio Rank: 14
FNGU Martin Ratio Rank: 14

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.

NVDX vs. FNGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-REX 2X Long NVIDIA Daily Target ETF (NVDX) 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.

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.

	NVDX	FNGU	Difference
Sharpe ratio: Return per unit of total volatility	0.73	0.35	+0.38
Sortino ratio: Return per unit of downside risk	1.38	0.87	+0.51
Omega ratio: Gain probability vs. loss probability	1.17	1.11	+0.06
Calmar ratio: Return relative to maximum drawdown	1.16	0.36	+0.81
Martin ratio: Return relative to average drawdown	2.58	0.85	+1.73

NVDX vs. FNGU - Sharpe Ratio Comparison

The current NVDX Sharpe Ratio is 0.73, which is higher than the FNGU Sharpe Ratio of 0.35. The chart below compares the historical Sharpe Ratios of NVDX and FNGU, 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

NVDX vs. FNGU - Drawdown Comparison

The maximum NVDX drawdown since its inception was -68.19%, which is greater than FNGU's maximum drawdown of -61.30%. Use the drawdown chart below to compare losses from any high point for NVDX and FNGU.

Drawdown Indicators

	NVDX	FNGU	Difference
Max Drawdown Largest peak-to-trough decline	-68.19%	-61.30%	-6.89%
Max Drawdown (1Y) Largest decline over 1 year	-43.76%	-59.55%	+15.79%
Current Drawdown Current decline from peak	-26.24%	-27.36%	+1.12%
Average Drawdown Average peak-to-trough decline	-20.30%	-22.25%	+1.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.70%	24.91%	-5.21%

Volatility

NVDX vs. FNGU - Volatility Comparison

T-REX 2X Long NVIDIA Daily Target ETF (NVDX) and MicroSectors FANG+ 3X Leveraged ETNs (FNGU) have volatilities of 26.64% and 27.31%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVDX	FNGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.64%	27.31%	-0.67%
Volatility (6M) Calculated over the trailing 6-month period	53.29%	50.15%	+3.14%
Volatility (1Y) Calculated over the trailing 1-year period	70.00%	61.43%	+8.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	95.57%	79.93%	+15.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.57%	79.93%	+15.64%

NVDX vs. FNGU - Expense Ratio Comparison

NVDX has a 1.05% expense ratio, which is lower than FNGU's 2.60% expense ratio.

Dividends

NVDX vs. FNGU - Dividend Comparison

NVDX's dividend yield for the trailing twelve months is around 3.16%, while FNGU has not paid dividends to shareholders.

Position	TTM	2025	2024
FNGU MicroSectors FANG+ 3X Leveraged ETNs	0.00%	0.00%	0.00%
NVDX T-REX 2X Long NVIDIA Daily Target ETF	3.16%	3.35%	15.48%

Frequently Asked Questions

Can I hold both NVDX and FNGU in my portfolio?

NVDX and FNGU have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVDX or FNGU?

FNGU has higher volatility (27.31%) compared to NVDX (26.64%). In terms of maximum drawdown, NVDX dropped -68.19% vs FNGU's -61.30%.

Which ETF is better, NVDX or FNGU?

On 1-year performance, NVDX leads with 57.42% vs 25.83% for FNGU. On fees, NVDX is cheaper at 1.05% per year. On volatility, NVDX has been the lower-risk option at 26.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVDX or FNGU?

Over the 1-year period, NVDX has performed better with a 57.42% return vs 25.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVDX or FNGU?

NVDX is cheaper with a 1.05% expense ratio, compared with 2.60% for FNGU.

Which ETF pays a higher dividend yield, NVDX or FNGU?

NVDX has the higher dividend yield at 3.16%, compared with 0.00% for FNGU.

What is the main difference between NVDX and FNGU?

They also come from different issuers: REX and Bank of Montreal. Their fees differ too: 1.05% for NVDX and 2.60% for FNGU.

Which has better risk-adjusted returns?

NVDX currently has the higher Sharpe Ratio (0.73 vs 0.35), 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.