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ETFs

Direxion Daily NYSE FANG+ Bull 2X Shares

FNGG
$--
Today’s Change
-- (--)

Snapshot
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Inception Date
Sep 30 2021
Expense Ratio
0.96%
Type
US Equities
Fund Owner
Direxion Shares
Volume (1m avg. daily)
$412,173
AUM
$12,448,049
Associated Index
ICE FANG 20 Index
Inverse/Leveraged
Leveraged (2x)
Passive/Active
Passive
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

n/a
DREYFUS GOVT CASH MGMT
16.34%
AMD
Advanced Micro Devices Inc.
2.02%
NVDA
NVIDIA Corp
2.00%
GOOGL
Alphabet Inc - Ordinary Shares - Class A
1.97%
AAPL
Apple Inc
1.93%
MSFT
Microsoft Corporation
1.92%
AMZN
Amazon.com Inc.
1.90%
TSLA
Tesla Inc
1.90%
NFLX
Netflix Inc.
1.88%
n/a
DREYFUS GOVT CASH MGMT
1.87%
Invest with FNGG

What is FNGG?

The Direxion Daily Select Large Caps & FANGs Bull 2X Shares seeks daily investment results, before fees and expenses, of 200% of the performance of the ICE FANG 20 Index. The ICE FANG 20 Index (ICFNG20N) is an equal weighted index designed to include Facebook, Apple, Amazon, Netflix and (Alphabet s) Google (i.e., the FANGs) and similar highly-traded growth stocks of technology and tech-enabled companies, such as Microsoft, from the information technology, communication services and consumer discretionary sectors. The Index consists of 20 stocks or depository receipts that are listed on a U.S. Exchange that have a minimum of a $5 billion market capitalization and a 6-month average daily trading value of at least $50 million. The Index selects companies whose economic fortunes are tied to technologies such as social networking, autonomous driving, electric vehicles, smartphones, mobile payments, e-commerce, online games, streaming media, online entertainment, cryptocurrencies, blockchain, big data, artificial intelligence, machine learning, digital advertising, cloud services and other innovative technologies. The Index is reconstituted and rebalanced quarterly.

ETFs related toFNGG

ETFs correlated to FNGG include FDN, WEBL, SKYY

FNGG
Direxion Shares ETF Trust - Direxion Daily NYSE FANG+ Bull 2X Shares
FDN
First Trust Exchange-Traded Fund III - First Trust Dow Jones Internet Index Fund
WEBL
Direxion Shares ETF Trust - Direxion Daily Dow Jones Internet Bull 3X Shares
SKYY
First Trust Exchange-Traded Fund III - First Trust Cloud Computing ETF
IPO
Renaissance Capital Greenwich Funds - Renaissance IPO ETF
XSW
SPDR Series Trust - SPDR S&P Software & Services ETF
WCLD
WisdomTree Trust - WisdomTree Cloud Computing Fund
ARKW
ARK Investment Management LLC - ARK Next Generation Internet ETF
PNQI
Invesco Capital Management LLC - Invesco NASDAQ Internet ETF
FGRO
Fidelity Covington Trust - Fidelity Growth Opportunities ETF
CLOU
Global X Funds - Global X Cloud Computing ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

Automated Strategies
Related toFNGG

#SPYMIN

SPY minimum drawdown

Category

Community

Risk Rating

Aggressive

Create your own algorithmic trading strategy with FNGG using Composer

FAQ

FNGG is a US Equities ETF. The Direxion Daily Select Large Caps & FANGs Bull 2X Shares seeks daily investment results, before fees and expenses, of 200% of the performance of the ICE FANG 20 Index. The ICE FANG 20 Index (ICFNG20N) is an equal weighted index designed to include Facebook, Apple, Amazon, Netflix and (Alphabet s) Google (i.e., the FANGs) and similar highly-traded growth stocks of technology and tech-enabled companies, such as Microsoft, from the information technology, communication services and consumer discretionary sectors. The Index consists of 20 stocks or depository receipts that are listed on a U.S. Exchange that have a minimum of a $5 billion market capitalization and a 6-month average daily trading value of at least $50 million. The Index selects companies whose economic fortunes are tied to technologies such as social networking, autonomous driving, electric vehicles, smartphones, mobile payments, e-commerce, online games, streaming media, online entertainment, cryptocurrencies, blockchain, big data, artificial intelligence, machine learning, digital advertising, cloud services and other innovative technologies. The Index is reconstituted and rebalanced quarterly.

FNGG tracks the ICE FANG 20 Index.

No, FNGG is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, FNGG is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on FNGG is 0.1119%. This is the percent change in the value of FNGG over the most recent 1-month period. The 3-month return on FNGG is 0.361%. This is the percent change in the value of FNGG over the most recent 3-month period.

The standard deviation of FNGG for the past year is 0.9582%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to FNGG include SPXS, SH, and SPXL.

ETFs correlated to FNGG include FDN, WEBL, and SKYY.

ETFs that are inversely correlated to FNGG include WEBS, BERZ, and SARK.

Yes, FNGG is a Leveraged (2x) ETF: This means that FNGG will try to match the performance of ICE FANG 20 Index, but with 2x the returns.

Yes, FNGG is a Leveraged (2x) leveraged ETF: This means that {characteristics.Identifier} will try to match the performance of ICE FANG 20 Index, but move 2x in the opposite direction.

Disclaimers

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We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.