PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
TOK vs. FNGS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TOK vs. FNGS

Last updated Jun 14, 2026

TOK (iShares MSCI Kokusai ETF) and FNGS (MicroSectors FANG+ ETN) are both Large Cap Growth Equities funds - TOK tracks the MSCI Kokusai Index while FNGS tracks the NYSE FANG+ Index. Both are passively managed. Over the past 5 years, TOK returned 11.77%/yr vs 19.76%/yr for FNGS. A 0.75 correlation means they provide meaningful diversification when combined. TOK charges 0.25%/yr vs 0.58%/yr for FNGS.

Performance

TOK vs. FNGS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Kokusai ETF (TOK) and MicroSectors FANG+ ETN (FNGS). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, TOK achieves a 8.52% return, which is significantly higher than FNGS's 6.79% return.

TOK

1D
0.34%
1M
-0.22%
YTD
8.52%
6M
9.29%
1Y
24.16%
3Y*
19.82%
5Y*
11.77%
10Y*
13.63%

FNGS

1D
-0.94%
1M
-3.68%
YTD
6.79%
6M
4.25%
1Y
19.09%
3Y*
29.80%
5Y*
19.76%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

TOK vs. FNGS - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
TOK
iShares MSCI Kokusai ETF		8.52%20.83%19.52%24.76%-17.93%23.84%15.06%4.40%
FNGS
MicroSectors FANG+ ETN		6.79%18.64%51.99%95.24%-40.32%16.96%101.99%10.10%

Correlation

The correlation between TOK and FNGS is 0.72, 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

0.72

Correlation (3Y)
Calculated over the trailing 3-year period

0.74

Correlation (5Y)
Calculated over the trailing 5-year period

0.78

Correlation (All Time)
Calculated using the full available price history since Nov 13, 2019

0.75

The correlation between TOK and FNGS has been stable across timeframes, ranging from 0.72 to 0.78 - a consistent structural relationship.

TOK vs. FNGS - Sectors Allocation Comparison

Sectors
TOK
FNGS

Technology

31.4%
63.4%

Financial Services

14.9%
10.0%

Industrials

10.1%

-

Communication Services

9.1%
26.0%

Consumer Cyclical

9.1%
10.6%

Healthcare

8.8%

-

Consumer Defensive

5.1%

-

Energy

4.0%

-

Basic Materials

3.3%

-

Utilities

2.5%

-

Real Estate

1.7%

-

Technology

TOK
31.4%
FNGS
63.4%

Financial Services

TOK
14.9%
FNGS
10.0%

Industrials

TOK
10.1%
FNGS

-

Communication Services

TOK
9.1%
FNGS
26.0%

Consumer Cyclical

TOK
9.1%
FNGS
10.6%

Healthcare

TOK
8.8%
FNGS

-

Consumer Defensive

TOK
5.1%
FNGS

-

Energy

TOK
4.0%
FNGS

-

Basic Materials

TOK
3.3%
FNGS

-

Utilities

TOK
2.5%
FNGS

-

Real Estate

TOK
1.7%
FNGS

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Kokusai ETF

MicroSectors FANG+ ETN

Often compared with TOK:
TOK vs. VOOTOK vs. ACWITOK vs. QQQMTOK vs. SCHDTOK vs. URTHTOK vs. VYMTOK vs. QQQ
Often compared with FNGS:
FNGS vs. MAGSFNGS vs. SPYFNGS vs. QQQFNGS vs. FNGOFNGS vs. QLDFNGS vs. SMHFNGS vs. MON100.NS

Return for Risk

TOK vs. FNGS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TOK
TOK Risk / Return Rank: 6363
Overall Rank
TOK Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
TOK Sortino Ratio Rank: 6363
Sortino Ratio Rank
TOK Omega Ratio Rank: 6262
Omega Ratio Rank
TOK Calmar Ratio Rank: 5757
Calmar Ratio Rank
TOK Martin Ratio Rank: 6969
Martin Ratio Rank
FNGS
FNGS Risk / Return Rank: 2323
Overall Rank
FNGS Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
FNGS Sortino Ratio Rank: 2424
Sortino Ratio Rank
FNGS Omega Ratio Rank: 2424
Omega Ratio Rank
FNGS Calmar Ratio Rank: 2020
Calmar Ratio Rank
FNGS Martin Ratio Rank: 2020
Martin Ratio Rank
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.

TOK vs. FNGS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Kokusai ETF (TOK) and MicroSectors FANG+ ETN (FNGS). 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.

TOKFNGSDifference
Sharpe ratioReturn per unit of total volatility
1.84
0.79

+1.05

Sortino ratioReturn per unit of downside risk
2.56
1.19

+1.38

Omega ratioGain probability vs. loss probability

1.33

1.15

+0.18

Calmar ratioReturn relative to maximum drawdown

2.51

0.75

+1.76

Martin ratioReturn relative to average drawdown

11.28

2.12

+9.16

TOK vs. FNGS - Sharpe Ratio Comparison

The current TOK Sharpe Ratio is 1.84, which is higher than the FNGS Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of TOK and FNGS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

TOK vs. FNGS - Drawdown Comparison

The maximum TOK drawdown since its inception was -56.18%, which is greater than FNGS's maximum drawdown of -48.98%. Use the drawdown chart below to compare losses from any high point for TOK and FNGS.

Loading charts...

Drawdown Indicators

TOKFNGSDifference

Max Drawdown

Largest peak-to-trough decline

-56.18%

-48.98%

-7.20%

Max Drawdown (1Y)

Largest decline over 1 year

-9.07%

-22.93%

+13.86%

Max Drawdown (3Y)

Largest decline over 3 years

-16.23%

-26.77%

+10.54%

Max Drawdown (5Y)

Largest decline over 5 years

-25.86%

-48.98%

+23.12%

Max Drawdown (10Y)

Largest decline over 10 years

-34.82%

—

—

Current Drawdown

Current decline from peak

-1.90%

-9.63%

+7.73%

Average Drawdown

Average peak-to-trough decline

-8.51%

-10.85%

+2.34%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.02%

8.05%

-6.03%

Volatility

TOK vs. FNGS - Volatility Comparison

The current volatility for iShares MSCI Kokusai ETF (TOK) is 4.34%, while MicroSectors FANG+ ETN (FNGS) has a volatility of 8.74%. This indicates that TOK experiences smaller price fluctuations and is considered to be less risky than FNGS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

TOKFNGSDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.34%

8.74%

-4.40%

Volatility (6M)

Calculated over the trailing 6-month period

9.96%

17.19%

-7.23%

Volatility (1Y)

Calculated over the trailing 1-year period

12.40%

21.65%

-9.25%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.99%

30.10%

-14.11%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.16%

31.17%

-14.01%

TOK vs. FNGS - Expense Ratio Comparison

TOK has a 0.25% expense ratio, which is lower than FNGS's 0.58% expense ratio.

Dividends

TOK vs. FNGS - Dividend Comparison

TOK's dividend yield for the trailing twelve months is around 1.27%, while FNGS has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
FNGS
MicroSectors FANG+ 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%
TOK
iShares MSCI Kokusai ETF		1.27%1.37%1.66%1.95%3.55%1.66%1.52%2.12%2.74%2.60%2.56%3.02%

Frequently Asked Questions

TOK and FNGS have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FNGS has higher volatility (8.74%) compared to TOK (4.34%). In terms of maximum drawdown, TOK dropped -56.18% vs FNGS's -48.98%.

On 5-year performance, FNGS leads with 19.76% vs 11.77% for TOK. On fees, TOK is cheaper at 0.25% per year. On volatility, TOK has been the lower-risk option at 4.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FNGS has performed better with a 19.76% return vs 11.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

TOK is cheaper with a 0.25% expense ratio, compared with 0.58% for FNGS.

TOK has the higher dividend yield at 1.27%, compared with 0.00% for FNGS.

TOK tracks MSCI Kokusai Index, while FNGS tracks NYSE FANG+ Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.25% for TOK and 0.58% for FNGS.

TOK currently has the higher Sharpe Ratio (1.84 vs 0.79), 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.

Portfolio Optimizer

Find the right allocation for TOK and FNGS

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer