# FNGU (MicroSectors FANG+ 3X Leveraged ETNs)

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

Three months to Sep 30, 2026: FNGU returned +29.6% where its own daily promise gave +37.3%, 7.7 points short.

## Key facts

- FNGU, what FNGS did: +12.2%, as of Sep 30, 2026.
- FNGU, what 3 times a day gives: +37.3%, as of Sep 30, 2026.
- FNGU, what the fund returned: +29.6%, as of Sep 30, 2026.
- FNGU, the fund itself cost: −7.7 pts, as of Sep 30, 2026.
- FNGU, net assets: an exchange traded note holds no assets; it is the issuing bank’s unsecured debt, as of Sep 30, 2026.
- FNGU, expense ratio: not read by ETFIQ, as of Sep 30, 2026.

## FNGU over each window to Sep 30, 2026

| Window | Fund | FNGS | +3x the move | Difference | FNGS moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +4.1% | +2.3% | +7.0% | −2.9 pts | 17% |
| 3 months | +29.6% | +12.2% | +36.7% | −7.0 pts | 20% |
| 6 months | +111.8% | +35.7% | +107.1% | +4.7 pts | 24% |
| 1 year | +18.5% | +18.0% | +53.9% | −35.4 pts | 23% |
| Since launch | +42.6% | +37.4% | +112.3% | −69.7 pts | 27% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +3 times the daily move of FNGS, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +2.43 times, against +3 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 | Feb 20, 2025 | ETFIQ |
| Underlying volatility over the window | 20% annualized | ETFIQ |

## Questions

### Did FNGU return +3 times FNGS?

Over the window to Sep 30, 2026, FNGS moved +12.2% and FNGU returned +29.6%. 3 times that move is +36.7%, so the fund came out 7.0 points short of it.

### Why does FNGU not return +3 times over a year?

Because it resets daily. FNGU aims at +3 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 +3 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, FNGU, data as of Sep 30, 2026. https://etfiq.com/funds/fngu
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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