# FNG (Leverage Shares 2X Long FN Daily ETF)

Leverage Shares · Leveraged ETFs · data as of Sep 11, 2026

One month to Sep 11, 2026: FNG returned −52.4% where its own daily promise gave −51.3%, 1.1 points short.

## Key facts

- FNG, what FN did: −27.5%, as of Sep 11, 2026.
- FNG, what +2 times a day gives: −51.3%, as of Sep 11, 2026.
- FNG, what the fund returned: −52.4%, as of Sep 11, 2026.
- FNG, the fund itself cost: −1.1 pts, as of Sep 11, 2026.
- FNG, net assets: $5m (issuer page, as of Sep 10, 2026).
- FNG, expense ratio: 0.99% (485BPOS XBRL, Jun 9, 2026).

## FNG over each window to Sep 11, 2026

| Window | Fund | FN | +2x the move | Difference | FN moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −52.4% | −27.5% | −55.0% | +2.7 pts | 76% |
| Since launch | −60.1% | −29.5% | −59.0% | −1.1 pts | 82% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of FN, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.9 times, against +2 stated | ETFIQ |
| Underlying | FN | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $5m | issuer page, as of Sep 10, 2026 |
| Expense ratio | 0.99% | 485BPOS XBRL, Jun 9, 2026 |
| Launched | Jun 16, 2026 | ETFIQ |
| Underlying volatility over the window | 76% annualized | ETFIQ |

## Questions

### Did FNG return +2 times FN?

Over the window to Sep 11, 2026, FN moved −27.5% and FNG returned −52.4%. 2 times that move is −55.0%, so the fund came out 2.7 points ahead of it.

### Why does FNG not return +2 times over a year?

Because it resets daily. FNG aims at +2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, FNG, data as of Sep 11, 2026. https://etfiq.com/funds/FNG
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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