FNGG vs FNGU: which held to its multiple?
Over three months against its own daily promise, FNGG finished 2.7 points short and FNGU 7.7 points short. Direxion Daily NYSE FANG+ Bull 2X ETF and MicroSectors FANG+ 3X Leveraged ETNs.
FNGG returned +22.0% while 2 times FNGS's move would have been +24.4%
FNGU returned +29.6% while 3 times FNGS's move would have been +36.7%
A percentile among the 470 leveraged ETFs, long, over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it → How it is computed →
Performance, window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | FNGG | FNGU | FNGG | FNGU | FNGG | FNGU |
| 1 month | +3.7% | +4.1% | +4.7% | +7.0% | −1.0 pts | −2.9 pts |
| 3 months | +22.0% | +29.6% | +24.4% | +36.7% | −2.4 pts | −7.0 pts |
| 6 months | +75.7% | +111.8% | +71.4% | +107.1% | +4.3 pts | +4.7 pts |
| 1 year | +26.2% | +18.5% | +35.9% | +53.9% | −9.7 pts | −35.4 pts |
| 3 years | +362.5% | not published | not meaningful | not published | not meaningful | not published |
| Since launch FNGG Sep 2021 · FNGU Feb 2025 | +29.5% | +42.6% | not meaningful | +112.3% | not meaningful | −69.7 pts |
FNGG and FNGU over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
FNGG and FNGU on the same fields, as of Sep 30, 2026. Source: ETFIQ.
FNGG in plain words
Three months to Sep 30, 2026: FNGG returned +22.0% where its own daily promise gave +24.7%, 2.7 points short. Read the multiple against the whole window instead and 2 times FNGS's 12.2% implies +24.4%, which makes FNGG look 2.4 points short. 0.3 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. FNGG aims to return +2 times FNGS's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. FNGS moved at 20% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
FNGU in plain words
Three months to Sep 30, 2026: FNGU returned +29.6% where its own daily promise gave +37.3%, 7.7 points short. Read the multiple against the whole window instead and 3 times FNGS's 12.2% implies +36.7%, which makes FNGU look 7.0 points short. 0.6 of that is daily compounding, which happens to any 3 times fund over the same path, and the rest is the fund. FNGU aims to return +3 times FNGS's move each day, then resets. Over longer, the daily results compound, so the total is not +3 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more.
Questions people ask
- Which came closer to its stated multiple, FNGG or FNGU?
- Over the window to Sep 30, 2026, FNGG finished 2.4 points from what its multiple implies and FNGU finished 7.0 points from its own, so FNGG came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are FNGG and FNGU levered on the same thing?
- Yes. Both are levered on the big technology names, FNGG at +2 times and FNGU at +3 times the daily move.
- Which one decays faster, FNGG or FNGU?
- Decay follows how much the underlying moves about. Over this window FNGG’s moved at 20% annualized and FNGU’s at 20%, so FNGG has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold FNGG or FNGU for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.
ETFIQ, FNGG against FNGU, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/fngg-vs-fngu
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, FNGG against FNGU, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/fngg-vs-fngu Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, FNGG against FNGU, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/fngg-vs-fngu
- APA
- ETFIQ. (Sep 30, 2026). FNGG against FNGU. Retrieved from https://etfiq.com/compare/leverage/fngg-vs-fngu
- Markdown
- [FNGG against FNGU (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/fngg-vs-fngu)