SKYW vs. FNGU

Last updated Apr 2, 2026

Compare and contrast key facts about SkyWest, Inc. (SKYW) and MicroSectors FANG+™ Index 3X Leveraged ETN (FNGU).

FNGU is a passively managed fund by Bank of Montreal that tracks the performance of the NYSE FANG (TR) (300%). It was launched on Jan 22, 2018.

Performance

SKYW vs. FNGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SkyWest, Inc. (SKYW) and MicroSectors FANG+™ Index 3X Leveraged ETN (FNGU). The values are adjusted to include any dividend payments, if applicable.

SKYW vs. FNGU - Yearly Performance Comparison

	2026 (YTD)	2025
SKYW SkyWest, Inc.	-6.68%	-0.59%
FNGU MicroSectors FANG+™ Index 3X Leveraged ETN	-35.43%	4.24%

Returns By Period

In the year-to-date period, SKYW achieves a -6.68% return, which is significantly higher than FNGU's -35.43% return.

SKYW

• 1D: 2.04%
• 1M: -7.88%
• YTD: -6.68%
• 6M: -7.14%
• 1Y: 6.36%
• 3Y*: 61.68%
• 5Y*: 11.22%
• 10Y*: 17.23%

FNGU

• 1D: 4.35%
• 1M: -14.02%
• YTD: -35.43%
• 6M: -44.05%
• 1Y: 17.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

Return for Risk

SKYW vs. FNGU — Risk / Return Rank

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

SKYW

SKYW Risk / Return Rank: 44
SKYW Sharpe Ratio Rank: 46
SKYW Sortino Ratio Rank: 42
SKYW Omega Ratio Rank: 40
SKYW Calmar Ratio Rank: 47
SKYW Martin Ratio Rank: 46

FNGU

FNGU Risk / Return Rank: 23
FNGU Sharpe Ratio Rank: 17
FNGU Sortino Ratio Rank: 30
FNGU Omega Ratio Rank: 28
FNGU Calmar Ratio Rank: 20
FNGU Martin Ratio Rank: 19

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.

SKYW vs. FNGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SkyWest, Inc. (SKYW) and MicroSectors FANG+™ Index 3X Leveraged ETN (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.

	SKYW	FNGU	Difference
Sharpe ratio Return per unit of total volatility	0.17	0.23	-0.06
Sortino ratio Return per unit of downside risk	0.53	0.92	-0.39
Omega ratio Gain probability vs. loss probability	1.06	1.12	-0.06
Calmar ratio Return relative to maximum drawdown	0.25	0.38	-0.13
Martin ratio Return relative to average drawdown	0.48	1.00	-0.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SKYW vs. FNGU - Sharpe Ratio Comparison

The current SKYW Sharpe Ratio is 0.17, which is comparable to the FNGU Sharpe Ratio of 0.23. The chart below compares the historical Sharpe Ratios of SKYW and FNGU, 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

	SKYW	FNGU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.17	0.23	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	-0.37	+0.62

Correlation

The correlation between SKYW and FNGU is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SKYW vs. FNGU - Dividend Comparison

Neither SKYW nor FNGU has paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SKYW SkyWest, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.35%	0.74%	0.90%	0.60%	0.52%	0.84%
FNGU MicroSectors FANG+™ Index 3X Leveraged 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%

Drawdowns

SKYW vs. FNGU - Drawdown Comparison

The maximum SKYW drawdown since its inception was -81.77%, which is greater than FNGU's maximum drawdown of -60.84%. Use the drawdown chart below to compare losses from any high point for SKYW and FNGU.

Drawdown Indicators

	SKYW	FNGU	Difference
Max Drawdown Largest peak-to-trough decline	-81.77%	-60.84%	-20.93%
Max Drawdown (1Y) Largest decline over 1 year	-28.96%	-59.55%	+30.59%
Max Drawdown (5Y) Largest decline over 5 years	-73.41%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-81.77%	—	—
Current Drawdown Current decline from peak	-24.26%	-51.94%	+27.68%
Average Drawdown Average peak-to-trough decline	-35.46%	-21.87%	-13.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.00%	22.51%	-7.51%

Volatility

SKYW vs. FNGU - Volatility Comparison

The current volatility for SkyWest, Inc. (SKYW) is 11.55%, while MicroSectors FANG+™ Index 3X Leveraged ETN (FNGU) has a volatility of 24.03%. This indicates that SKYW experiences smaller price fluctuations and is considered to be less risky than FNGU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKYW	FNGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.55%	24.03%	-12.48%
Volatility (6M) Calculated over the trailing 6-month period	25.08%	44.97%	-19.89%
Volatility (1Y) Calculated over the trailing 1-year period	37.89%	77.71%	-39.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.27%	80.80%	-37.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.58%	80.80%	-29.22%