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

Leverage Shares · Leveraged ETFs · data as of Oct 2, 2026

Three months to Oct 2, 2026: FNG returned −29.3% where its own daily promise gave −27.2%, 2.0 points short.

## Key facts

- FNG, what FN did: −7.2%, as of Oct 2, 2026.
- FNG, what 2 times a day gives: −27.2%, as of Oct 2, 2026.
- FNG, what the fund returned: −29.3%, as of Oct 2, 2026.
- FNG, the fund itself cost: −2.0 pts, as of Oct 2, 2026.
- FNG, net assets: $8m (issuer page, as of Oct 1, 2026).
- FNG, expense ratio: 0.99% (485BPOS XBRL, Jun 9, 2026).

## FNG over each window to Oct 2, 2026

| Window | Fund | FN | +2x the move | Difference | FN moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +33.3% | +17.3% | +34.6% | −1.3 pts | 51% |
| 3 months | −29.3% | −7.2% | −14.4% | −14.9 pts | 77% |
| Since launch | −51.2% | −21.1% | −42.3% | −8.9 pts | 78% |

## 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 | +4.07 times, against +2 stated | ETFIQ |
| Underlying | FN | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $8m | issuer page, as of Oct 1, 2026 |
| Expense ratio | 0.99% | 485BPOS XBRL, Jun 9, 2026 |
| Launched | Jun 16, 2026 | ETFIQ |
| Underlying volatility over the window | 77% annualized | ETFIQ |

## Questions

### Did FNG return +2 times FN?

Over the window to Oct 2, 2026, FN moved −7.2% and FNG returned −29.3%. 2 times that move is −14.4%, so the fund came out 14.9 points short 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 Oct 2, 2026. https://etfiq.com/funds/fng
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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