FNGO ETF — Holdings & Analysis

The MicroSectors FANG+ Index 2X Leveraged ETNs (FNGO) is an exchange-traded note that seeks to provide twice the daily return of the FANG+ Index, before fees and expenses. The FANG+ Index is an equal-dollar weighted index comprised of 10 highly-traded growth stocks in the technology and consumer discretionary sectors. These companies include names like NVIDIA, Alphabet, Meta, and Apple. FNGO uses leverage to amplify the daily performance of this index, making it a tool for investors seeking short-term, tactical exposure to these specific tech giants. However, due to the daily reset of the leverage, long-term performance can differ significantly from the index's cumulative return.

The expense ratio for FNGO is 0.95%. This means that for every $10,000 invested, $95 is deducted annually to cover the fund's operating expenses. While this expense ratio might seem high, it is important to consider that FNGO is a leveraged ETN, which typically have higher expenses due to the costs associated with maintaining the leveraged position. The category average for equity ETFs is around 0.44%, making FNGO more expensive, but this reflects the cost of the leveraged strategy.

As of 2026-03-15, FNGO's top holdings are concentrated in a small number of prominent technology companies. The top five holdings include NVIDIA Corp (11.54%), Alphabet Inc Class A (11.05%), Meta Platforms Inc Class A (10.79%), Apple Inc (10.71%), and Broadcom Inc (10.53%). These holdings represent a significant portion of the fund's assets, reflecting its focus on leading companies in the technology and communication services sectors. The equal-weighted nature of the underlying index ensures that each of these companies has a substantial impact on the fund's performance.

FNGO is designed for short-term tactical trading rather than long-term investment. Its leveraged nature and daily reset can lead to significant deviations from the underlying index's cumulative return over extended periods. The fund's high beta of 2.72 indicates substantial volatility, making it unsuitable for risk-averse investors. While FNGO can provide amplified gains in the short term, it also carries a higher risk of amplified losses. Past performance does not guarantee future results. Investors should carefully consider their risk tolerance and investment horizon before investing in FNGO.

FNGO distinguishes itself through its leveraged exposure to the FANG+ Index, a focused basket of ten technology and tech-enabled growth stocks. Many similar ETFs offer broader exposure to the technology sector or focus on different segments of the market. FNGO's expense ratio of 0.95% is higher than many non-leveraged technology ETFs, reflecting the cost of its leveraged strategy. With AUM of $0.69 billion, FNGO is a moderately sized fund in its category. Investors should compare FNGO's specific index and leverage to other technology-focused ETFs to determine the best fit for their investment objectives.

According to the latest available data, FNGO does not pay dividends. Its dividend yield is 0.00%. This is typical for leveraged ETNs that focus on growth stocks, as these companies tend to reinvest their earnings rather than distribute them as dividends. Investors seeking income should consider other ETFs that prioritize dividend payments.