# FNGO (MicroSectors FANG  Index 2X Leveraged ETNs due January 8, 2038)

MicroSectors · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: FNGO returned +18.4% where its own daily promise gave +19.7%, 1.3 points short.

## Key facts

- FNGO, what FNGS did: +10.1%, as of Sep 11, 2026.
- FNGO, what +2 times a day gives: +19.7%, as of Sep 11, 2026.
- FNGO, what the fund returned: +18.4%, as of Sep 11, 2026.
- FNGO, the fund itself cost: −1.3 pts, as of Sep 11, 2026.
- FNGO, expense ratio: not read by ETFIQ, as of Sep 11, 2026.
- FNGO, underlying: FNGS, as of Sep 11, 2026.

## FNGO over each window to Sep 11, 2026

| Window | Fund | FNGS | +2x the move | Difference | FNGS moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +1.1% | +0.6% | +1.1% | 0.0 pts | 16% |
| 3 months | +18.4% | +10.1% | +20.3% | −1.9 pts | 24% |
| 6 months | +53.8% | +28.0% | +56.1% | −2.3 pts | 26% |
| 1 year | +22.0% | +15.5% | +31.0% | −8.9 pts | 23% |
| 3 years | +293.8% | +135.9% | not meaningful over this window | not meaningful over this window | 26% |
| Since launch | +1577.8% | +547.5% | not meaningful over this window | not meaningful over this window | 31% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of FNGS, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.81 times, against +2 stated | ETFIQ |
| Underlying | FNGS | ETFIQ |
| Segment | sector or country, index | ETFIQ |
| Expense ratio | not read by ETFIQ | ETFIQ |
| Launched | Aug 2, 2018 | ETFIQ |
| Underlying volatility over the window | 24% annualized | ETFIQ |

## Questions

### Did FNGO return +2 times FNGS?

Over the window to Sep 11, 2026, FNGS moved +10.1% and FNGO returned +18.4%. 2 times that move is +20.3%, so the fund came out 1.9 points short of it.

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

Because it resets daily. FNGO 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.

### Which +2x FNGS ETF tracked its stated multiple most closely?

2 issuers sell one. Over the days all of them have been trading, the table on this page ranks them by how far each finished from 2 times the underlying's move. ETFIQ does not rate funds; the order is the arithmetic.


## Cite this page

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

HTML: https://etfiq.com/funds/FNGO  ·  JSON: https://etfiq.com/funds/FNGO.json