ETF Evaluator:
Microsectors FANG+ 3x Leveraged ETNs (FNGU)
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(as of Sep 02)
Best Performing in Trading--Leveraged Equity Over the Last Year
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ETF Details
Microsectors FANG+ 3x Leveraged ETNs Overview
Microsectors FANG+ 3x Leveraged ETNs (FNGU) is a passively managed Miscellaneous Trading--Leveraged Equity exchange-traded fund (ETF). BMO Capital Markets launched the ETF in 2025.
The investment seeks to provide three times leveraged participation in the gross total return version of the NYSE FANG+® Index.
The index, which is the same index that the FNGU ETNs are linked to, is an equally-weighted equity index that tracks the performance of 10 highly-traded growth stocks of technology and tech-enabled companies in the technology, media & communications and consumer discretionary sectors.
About Microsectors FANG+ 3x Leveraged ETNs (FNGU)
There are 1 members of the management team with an average tenure of 1.44 years: No Manager (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: NYSE FANG+ GR USD index with a weighting of 300%. Microsectors FANG+ 3x Leveraged ETNs has 10 securities in its portfolio. The top 10 holdings constitute 100.0% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is considered to have an ESG focus with its investment selection and management.
Microsectors FANG+ 3x Leveraged ETNs is part of the Other global asset class and is within the Miscellaneous ETF group. Microsectors FANG+ 3x Leveraged ETNs has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 100.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Microsectors FANG+ 3x Leveraged ETNs has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $2 billion in total assets, which is above the $251 million average for the Trading--Leveraged Equity category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FNGU Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Microsectors FANG+ 3x Leveraged ETNs expense ratio is below average compared to funds in the Trading--Leveraged Equity category. Microsectors FANG+ 3x Leveraged ETNs has an expense ratio of 0.35%, which is 63% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Microsectors FANG+ 3x Leveraged ETNs has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 396% for the Trading--Leveraged Equity category.
Recently, in the month of July 2026, Microsectors FANG+ 3x Leveraged ETNs returned 3.4%, which earned it a grade of B, as the Trading--Leveraged Equity category had an average return of -18.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Microsectors FANG+ 3x Leveraged ETNs has a trailing yield of 0.00%, which is below the 5.84% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Microsectors FANG+ 3x Leveraged ETNs Grades
Year to date, the ETF has returned 5.3%, 1.5 percentage points better than the category, which translates into a grade of C. The fund has returned 4.3% over the past year (grade of C).
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FNGU Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FNGU Return (NAV) | 3.4% | 9.1% | 4.3% | na | na | na |
| FNGU Return (Price) | 3.7% | 9.3% | 4.3% | na | na | na |
| NAV +/- Price Return | -0.339% | -0.211% | 0.008% | na | na | na |
| Trading--Leveraged Equity Avg | -18.2% | -10.8% | 47.2% | 18.3% | 6.2% | 9.2% |
| FNGU Grade (NAV) | B | B | C | na | na | na |
| +/- Category (NAV) | 21.6% | 19.9% | -42.9% | na | na | na |
| FNGU Tax-Cost Ratio | na | na | 0.0% | na | na | na |
FNGU Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FNGU Return (NAV) | 5.3% | na | na | na | na | na | na | na | na | na | na |
| FNGU Return (Price) | 5.5% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.044% | na | na | na | na | na | na | na | na | na | na |
| Trading--Leveraged Equity Avg | 3.8% | 41.3% | 29.5% | 62.2% | -36.7% | 45.0% | 6.2% | 64.1% | -31.9% | 61.0% | 29.3% |
| FNGU Grade (NAV) | C | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 1.5% | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 0.0% |
| Total Assets: | $ 2,128 Mil |
| Share Class Assets: | $ 2,128 Mil |
| Turnover: | na |
| Expense Ratio: | 0.35% |
| Index Fund: | Yes |
| Index Tracked: | NYSE FANG+ GR USD |
| Index Weighting: | 300% |
| Leveraged: | Yes |
| Socially Responsible Fund: | Yes |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 1.4 years | |||
| Average Tenure: 1.4 years | |||
| Managers (Year): Manager No (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 10 |
| % in Top 10 Holdings: | 100.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 100.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Legal Structure: | Uncollateralized Debt Instrument |
| Fund Family: | BMO Capital Markets |
| Phone Number: | 877-369-5412 |
| Website: | |
| Inception Date: | February 20, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.35% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.95% |
