WEBS vs. FNGD
WEBS (Daily Dow Jones Internet Bear 3X Shares) and FNGD (MicroSectors FANG+™ Index -3X Inverse Leveraged ETN) are both Leveraged Equities funds - WEBS tracks the Dow Jones Internet Composite Index (300%) while FNGD tracks the NYSE FANG+ Index (-300%). Both are passively managed. Over the past 5 years, WEBS returned -33.73%/yr vs -63.24%/yr for FNGD. Their correlation of 0.86 means they have usually moved in the same direction. WEBS charges 1.07%/yr vs 0.95%/yr for FNGD.
Performance
WEBS vs. FNGD - Performance Comparison
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Returns By Period
In the year-to-date period, WEBS achieves a -14.38% return, which is significantly higher than FNGD's -34.80% return.
WEBS
- 1D
- -7.56%
- 1M
- -9.28%
- 6M
- -21.86%
- YTD
- -14.38%
- 1Y
- -19.62%
- 3Y*
- -44.46%
- 5Y*
- -33.73%
- 10Y*
- —
- ALL TIME*
- -51.17%
FNGD
- 1D
- -5.03%
- 1M
- -4.69%
- 6M
- -39.93%
- YTD
- -34.80%
- 1Y
- -48.33%
- 3Y*
- -64.85%
- 5Y*
- -63.24%
- 10Y*
- —
- ALL TIME*
- -69.95%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $13.50M | $14.88M | $20.27M | |
| $830.56K | $855.34K | $1.32M |
WEBS vs. FNGD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
WEBS Daily Dow Jones Internet Bear 3X Shares | -14.38% | -40.66% | -56.62% | -75.58% | 117.15% | -39.82% | -87.18% | -10.90% |
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN | -34.80% | -61.42% | -76.57% | -90.14% | 52.21% | -60.04% | -95.60% | -31.71% |
Correlation
The correlation between WEBS and FNGD is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.77 |
Correlation (3Y) Balances recent behavior with more history. | 0.82 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.86 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019 | 0.86 |
The correlation between WEBS and FNGD has been stable across timeframes, ranging from 0.77 to 0.86 - a consistent structural relationship.
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Return for Risk
WEBS vs. FNGD — Risk / Return Rank
WEBS
FNGD
WEBS vs. FNGD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Daily Dow Jones Internet Bear 3X Shares (WEBS) and MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD). 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.
| WEBS | FNGD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.48 | ||
| Sortino ratioReturn per unit of downside risk | +0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 0.91 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.22 | -0.68 | +0.46 |
| Martin ratioReturn relative to average drawdown | -0.45 | -1.26 | +0.81 |
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Drawdowns
WEBS vs. FNGD - Drawdown Comparison
The maximum WEBS drawdown since its inception was -99.63%, roughly equal to the maximum FNGD drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for WEBS and FNGD.
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Drawdown Indicators
| WEBS | FNGD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.63% | -100.00% | +0.37% |
Max Drawdown (1Y)Largest decline over 1 year | -53.54% | -65.92% | +12.38% |
Max Drawdown (3Y)Largest decline over 3 years | -90.33% | -97.35% | +7.02% |
Max Drawdown (5Y)Largest decline over 5 years | -97.09% | -99.67% | +2.58% |
Current DrawdownCurrent decline from peak | -99.58% | -100.00% | +0.42% |
Average DrawdownAverage peak-to-trough decline | -91.24% | -87.46% | -3.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.63% | 35.26% | -9.63% |
Volatility
WEBS vs. FNGD - Volatility Comparison
Daily Dow Jones Internet Bear 3X Shares (WEBS) and MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) have volatilities of 17.91% and 18.15%, 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
| WEBS | FNGD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.91% | 18.15% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 48.62% | 54.65% | -6.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 61.75% | 66.81% | -5.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.30% | 89.78% | -7.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.39% | 90.95% | -1.56% |
WEBS vs. FNGD - Expense Ratio Comparison
WEBS has a 1.07% expense ratio, which is higher than FNGD's 0.95% expense ratio.
Dividends
WEBS vs. FNGD - Dividend Comparison
WEBS's dividend yield for the trailing twelve months is around 3.20%, while FNGD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WEBS Daily Dow Jones Internet Bear 3X Shares | 3.20% | 3.77% | 8.02% | 8.51% | 0.20% | 0.00% | 1.11% | 0.11% |
Frequently Asked Questions
WEBS and FNGD have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNGD has higher volatility (18.15%) compared to WEBS (17.91%). In terms of maximum drawdown, WEBS dropped -99.63% vs FNGD's -100.00%.
On 5-year performance, WEBS leads with -33.73% vs -63.24% for FNGD. On fees, FNGD is cheaper at 0.95% per year. On volatility, WEBS has been the lower-risk option at 17.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, WEBS has performed better with a -33.73% return vs -63.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FNGD is cheaper with a 0.95% expense ratio, compared with 1.07% for WEBS.
WEBS has the higher dividend yield at 3.20%, compared with 0.00% for FNGD.
WEBS tracks Dow Jones Internet Composite Index (300%), while FNGD tracks NYSE FANG+ Index (-300%). They also come from different issuers: Direxion and BMO. Their fees differ too: 1.07% for WEBS and 0.95% for FNGD.
WEBS currently has the higher Sharpe Ratio (-0.19 vs -0.67), 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.
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