FMN vs FNGG
Federated Hermes Premier Municipal Income Fund vs Direxion Daily NYSE FANG+ Bull 2X ETF
Quick Verdict
FMN has a lower expense ratio. FNGG delivered stronger 1-year returns. FMN offers more diversification with 150 holdings.
Side-by-Side Comparison
| Metric | FMN | FNGG | Winner |
|---|---|---|---|
| Expense Ratio | 0.75% | 0.97% | |
| AUM | $16M | $143M | |
| Dividend Yield | 4.43% | 10.70% | |
| Holdings | 150 | 18 | |
| YTD Return | +1.66% | +27.62% | |
| 1Y Return | +7.98% | +28.50% | |
| 3Y Return (annualized) | +7.26% | +59.46% | |
| 5Y Return (annualized) | -3.12% | +3.45% | |
| Volatility (annualized) | 14.7% | 58.3% | |
| Max Drawdown | -53.4% | -91.3% | |
| Fund Family | Federated Hermes | Direxion Shares ETF Trust | |
| Category | Tax Preferred | Alternative | |
| Inception | Dec 20, 2002 | Sep 29, 2021 |
FMN vs FNGG Performance
Federated Hermes Premier Municipal Income Fund (FMN) is a ETF from Federated Hermes and Direxion Daily NYSE FANG+ Bull 2X ETF (FNGG) is a ETF from Direxion Shares ETF Trust. Over the past year FMN returned +7.98% while FNGG returned +28.50%. Year to date, FMN is up 1.66% versus a gain of 27.62% for FNGG.
Over three years, FMN compounded at +7.26% per year against +59.46% for FNGG; over five years the annualized figures are -3.12% and +3.45% respectively. Across the full 5-year window we track, FNGG has the edge at +3.45% annualized vs -0.28%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FNGG has been the more volatile fund, with annualized monthly volatility of 58.3% compared with 14.7% for FMN. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -53.4% for FMN and -91.3% for FNGG. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.46. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FMN charges 0.75% per year while FNGG charges 0.97%. On a $10,000 position that is $75 vs $97 annually, a gap of $22 per year that compounds over a long holding period. On income, FMN currently yields 4.43% against 10.70% for FNGG.
Holdings Overlap
FMN and FNGG share 0 holdings out of 98 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FMN or FNGG?
FMN has an expense ratio of 0.75% while FNGG charges 0.97%. FMN is the cheaper option. On a $10,000 investment, that is $22 per year of difference.
Which performed better, FMN or FNGG?
Over the past year FMN returned +7.98% vs +28.50% for FNGG, so FNGG leads on 1-year performance. Over the longest common window we track (5 years), FMN annualized -0.28% vs +3.45% for FNGG. Past performance does not guarantee future results.
Which is riskier, FMN or FNGG?
FNGG has been the more volatile fund at 58.3% annualized versus 14.7% for FMN. Worst drawdown: FMN -53.4% vs FNGG -91.3%.
Should I hold both FMN and FNGG?
FMN and FNGG have a monthly-return correlation of 0.46, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FMN and FNGG?
FMN and FNGG share 0 common holdings with a 0.0% weight overlap. Combined, they hold 98 unique securities.
Which pays a higher dividend, FMN or FNGG?
FMN yields 4.43% while FNGG yields 10.70%, so FNGG currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.