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

MicroSectors · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: FNGO returned +22.3% where its own daily promise gave +24.7%, 2.4 points short.

## Key facts

- FNGO, what FNGS did: +12.2%, as of Sep 30, 2026.
- FNGO, what 2 times a day gives: +24.7%, as of Sep 30, 2026.
- FNGO, what the fund returned: +22.3%, as of Sep 30, 2026.
- FNGO, the fund itself cost: −2.4 pts, as of Sep 30, 2026.
- FNGO, net assets: an exchange traded note holds no assets; it is the issuing bank’s unsecured debt, as of Sep 30, 2026.
- FNGO, expense ratio: not read by ETFIQ, as of Sep 30, 2026.

## FNGO over each window to Sep 30, 2026

| Window | Fund | FNGS | +2x the move | Difference | FNGS moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +4.1% | +2.3% | +4.7% | −0.6 pts | 17% |
| 3 months | +22.3% | +12.2% | +24.4% | −2.1 pts | 20% |
| 6 months | +76.4% | +35.7% | +71.4% | +4.9 pts | 24% |
| 1 year | +26.4% | +18.0% | +35.9% | −9.5 pts | 23% |
| 3 years | +369.4% | +158.1% | not meaningful over this window | not meaningful over this window | 26% |
| Since launch | +1669.1% | +567.8% | 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 | +1.83 times, against +2 stated | ETFIQ |
| Underlying | FNGS | ETFIQ |
| Segment | sector or country, index | ETFIQ |
| Net assets | an exchange traded note holds no assets; it is the issuing bank’s unsecured debt | ETFIQ |
| Expense ratio | not read by ETFIQ | ETFIQ |
| Launched | Aug 2, 2018 | ETFIQ |
| Underlying volatility over the window | 20% annualized | ETFIQ |

## Questions

### Did FNGO return +2 times FNGS?

Over the window to Sep 30, 2026, FNGS moved +12.2% and FNGO returned +22.3%. 2 times that move is +24.4%, so the fund came out 2.1 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 figure itself.


## Cite this page

ETFIQ, FNGO, data as of Sep 30, 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