SKYU vs. FNGO
Compare and contrast key facts about ProShares Ultra Nasdaq Cloud Computing ETF (SKYU) and MicroSectors FANG+ Index 2X Leveraged ETN (FNGO).
SKYU and FNGO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SKYU is a passively managed fund by ProShares that tracks the performance of the ISE Cloud Computing Index (200%). It was launched on Jan 19, 2021. FNGO is a passively managed fund by Bank of Montreal that tracks the performance of the NYSE FANG+ Index (+200%). It was launched on Aug 1, 2018. Both SKYU and FNGO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SKYU vs. FNGO - Performance Comparison
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SKYU vs. FNGO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SKYU ProShares Ultra Nasdaq Cloud Computing ETF | -30.59% | 2.76% | 65.79% | 105.76% | -75.95% | 7.15% |
FNGO MicroSectors FANG+ Index 2X Leveraged ETN | -22.92% | 25.49% | 101.65% | 240.10% | -71.55% | 14.03% |
Returns By Period
In the year-to-date period, SKYU achieves a -30.59% return, which is significantly lower than FNGO's -22.92% return.
SKYU
- 1D
- 1.85%
- 1M
- -1.21%
- YTD
- -30.59%
- 6M
- -36.73%
- 1Y
- -1.52%
- 3Y*
- 23.32%
- 5Y*
- -8.28%
- 10Y*
- —
FNGO
- 1D
- 2.95%
- 1M
- -8.44%
- YTD
- -22.92%
- 6M
- -28.65%
- 1Y
- 28.52%
- 3Y*
- 52.54%
- 5Y*
- 18.17%
- 10Y*
- —
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SKYU vs. FNGO - Expense Ratio Comparison
Both SKYU and FNGO have an expense ratio of 0.95%.
Return for Risk
SKYU vs. FNGO — Risk / Return Rank
SKYU
FNGO
SKYU vs. FNGO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Nasdaq Cloud Computing ETF (SKYU) and MicroSectors FANG+ Index 2X Leveraged ETN (FNGO). 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.
| SKYU | FNGO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.03 | 0.53 | -0.55 |
Sortino ratioReturn per unit of downside risk | 0.39 | 1.16 | -0.77 |
Omega ratioGain probability vs. loss probability | 1.05 | 1.15 | -0.10 |
Calmar ratioReturn relative to maximum drawdown | 0.02 | 0.74 | -0.72 |
Martin ratioReturn relative to average drawdown | 0.04 | 2.08 | -2.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SKYU | FNGO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.03 | 0.53 | -0.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.14 | 0.30 | -0.44 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.14 | 0.53 | -0.67 |
Correlation
The correlation between SKYU and FNGO is 0.79, 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
SKYU vs. FNGO - Dividend Comparison
SKYU's dividend yield for the trailing twelve months is around 1.01%, while FNGO has not paid dividends to shareholders.
| TTM | 2025 | 2024 | |
|---|---|---|---|
SKYU ProShares Ultra Nasdaq Cloud Computing ETF | 1.01% | 0.56% | 0.21% |
FNGO MicroSectors FANG+ Index 2X Leveraged ETN | 0.00% | 0.00% | 0.00% |
Drawdowns
SKYU vs. FNGO - Drawdown Comparison
The maximum SKYU drawdown since its inception was -83.01%, which is greater than FNGO's maximum drawdown of -78.39%. Use the drawdown chart below to compare losses from any high point for SKYU and FNGO.
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Drawdown Indicators
| SKYU | FNGO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.01% | -78.39% | -4.62% |
Max Drawdown (1Y)Largest decline over 1 year | -48.85% | -42.73% | -6.12% |
Max Drawdown (5Y)Largest decline over 5 years | -83.01% | -78.39% | -4.62% |
Current DrawdownCurrent decline from peak | -55.30% | -35.78% | -19.52% |
Average DrawdownAverage peak-to-trough decline | -49.36% | -24.17% | -25.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.57% | 15.17% | +5.40% |
Volatility
SKYU vs. FNGO - Volatility Comparison
ProShares Ultra Nasdaq Cloud Computing ETF (SKYU) and MicroSectors FANG+ Index 2X Leveraged ETN (FNGO) have volatilities of 16.10% and 16.20%, 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.
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Volatility by Period
| SKYU | FNGO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.10% | 16.20% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 38.96% | 30.54% | +8.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.55% | 54.60% | +4.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.36% | 60.29% | +0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.41% | 61.90% | -1.49% |