FNGD vs SPY
MicroSectors FANG+ Index -3X Inverse Leveraged ETN vs State Street SPDR S&P 500 ETF Trust
Which is better, FNGD or SPY?
Opposite sides of the same exposure.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two move opposite each other, correlation -0.71, so holding both offsets the exposure while paying both fees. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 100.0%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FNGD | SPY |
|---|---|---|
| Expense Ratio | 0.95% | 0.09%Best |
| AUM | $46M | $823.2B |
| Dividend Yield | 0.00% | 0.99% |
| Holdings | 10 | 1,515 |
| YTD Return | -55.23% | +13.53%Best |
| 1Y Return | -52.27% | +17.47%Best |
| 3Y Return (annualized) | -69.51% | +22.36%Best |
| 5Y Return (annualized) | -64.73% | +13.21%Best |
| Volatility (annualized) | 71.2% | 16.3%Best |
| Max Drawdown | - | -34.1% |
| $10,000 over 5 years | $55 | $18,596Best |
| Top 10 Weight | 100.0% | 38.2%Best |
| Fund Family | BMO Capital Markets | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Trading-Inverse Equity | Large Cap Blend |
| Inception | Jan 22, 2018 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Jan 23, 2018 to Oct 14, 2026 (8.7 years).
FNGD vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 8.7 years both funds cover.
FNGD vs SPY Performance
MicroSectors FANG+ Index -3X Inverse Leveraged ETN (FNGD) is an ETF from BMO Capital Markets and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year FNGD returned -52.27% while SPY returned +17.47%. Year to date, FNGD is down 55.23% versus a gain of 13.53% for SPY.
Over three years, FNGD compounded at -69.51% per year against +22.36% for SPY; over five years the annualized figures are -64.73% and +13.21% respectively. Across the full 9-year window we track, SPY has the edge at +13.13% annualized vs -70.13%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FNGD has been the more volatile fund, with annualized monthly volatility of 71.2% compared with 16.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The two funds' monthly returns correlate at -0.71. They move opposite each other. Holding both offsets the exposure rather than spreading it, while paying both funds' fees.
Fees and Cost Over Time
FNGD charges 0.95% per year while SPY charges 0.09%. On a $10,000 position that is $95 vs $9 annually, a gap of $86 per year that compounds over a long holding period. On income, FNGD currently yields 0.00% against 0.99% for SPY.
Holdings Overlap
100.0% of FNGD's money is in holdings SPY also owns. 35.3% of SPY's money is in holdings FNGD also owns.
They hold the same names on opposite sides, so owning both offsets the exposure rather than doubling it.
10 positions in common, counted across the 10 positions we hold weights for in FNGD and 504 in SPY, against full books of 10 and 1,515.
What only one of them owns
Measured across the 10 and 504 positions we hold weights for.
SPY holds 486 positions FNGD does not, 63.8% of the fund.
Largest: GOOG 2.49%, TSLA 1.54%, BRK.B 1.44%, JPM 1.43%, LLY 1.37%
Top Shared Holdings
| Stock | Weight in FNGD | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 10.29% | 7.78% | 2.51% |
| AAPLApple, Inc | 9.65% | 7.45% | 2.20% |
| MSFTMicrosoft Corp | 10.08% | 5.71% | 4.37% |
| AMZNAmazon.Com Inc | 9.76% | 3.78% | 5.98% |
| GOOGLAlphabet Inc | 9.67% | 3.12% | 6.55% |
| MUMicron Technology, Inc. | 11.08% | 1.59% | 9.49% |
| METAMeta Platforms Inc | 10.38% | 2.22% | 8.16% |
| AVGOBroadcom Inc | 9.97% | 2.48% | 7.49% |
| PLTRPalantir Technologies Inc | 10.34% | 0.61% | 9.73% |
| NFLXNetflix, Inc. | 8.78% | 0.51% | 8.27% |
100.0% of FNGD is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FNGD or SPY?
FNGD has an expense ratio of 0.95% while SPY charges 0.09%. SPY is the cheaper option, by $86 a year on a $10,000 investment.
Which performed better, FNGD or SPY?
Over the past year FNGD returned -52.27% vs +17.47% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (9 years), FNGD annualized -70.13% vs +13.13% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FNGD or SPY?
FNGD has been the more volatile fund at 71.2% annualized versus 16.3% for SPY.
Should I hold both FNGD and SPY?
FNGD and SPY have a monthly-return correlation of -0.71, so they move opposite each other. Holding both offsets the exposure rather than spreading it, and pays both funds' fees on the way. This is information, not a recommendation.
What is the holdings overlap between FNGD and SPY?
100.0% of FNGD's money is in holdings SPY also owns. 35.3% of SPY's is in holdings FNGD also owns. They hold 10 positions in common, counted across the 10 positions we hold weights for in FNGD and 504 in SPY.
Which pays a higher dividend, FNGD or SPY?
FNGD yields 0.00% while SPY yields 0.99%, so SPY currently pays the higher dividend yield.
Is SPY better than FNGD?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two move opposite each other, correlation -0.71, so holding both offsets the exposure while paying both fees. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 100.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.