FNGG vs NMI
Direxion Daily NYSE FANG+ Bull 2X ETF vs Nuveen Municipal Income Fund Inc.
Quick Verdict
NMI has a lower expense ratio. FNGG delivered stronger 1-year returns. NMI offers more diversification with 220 holdings.
Side-by-Side Comparison
| Metric | FNGG | NMI | Winner |
|---|---|---|---|
| Expense Ratio | 0.97% | 0.73% | |
| AUM | $143M | - | |
| Dividend Yield | 10.70% | 4.65% | |
| Holdings | 18 | 220 | |
| YTD Return | +28.33% | +8.93% | |
| 1Y Return | +32.83% | +13.39% | |
| 3Y Return (annualized) | +59.45% | +8.56% | |
| 5Y Return (annualized) | +3.58% | +1.80% | |
| Volatility (annualized) | 58.3% | 11.0% | |
| Max Drawdown | -91.3% | -34.4% | |
| Fund Family | Direxion Shares ETF Trust | Nuveen | |
| Category | Alternative | Tax Preferred | |
| Inception | Sep 29, 2021 | Apr 20, 1988 |
FNGG vs NMI Performance
Direxion Daily NYSE FANG+ Bull 2X ETF (FNGG) is a ETF from Direxion Shares ETF Trust and Nuveen Municipal Income Fund Inc. (NMI) is a ETF from Nuveen. Over the past year FNGG returned +32.83% while NMI returned +13.39%. Year to date, FNGG is up 28.33% versus a gain of 8.93% for NMI.
Over three years, FNGG compounded at +59.45% per year against +8.56% for NMI; over five years the annualized figures are +3.58% and +1.80% respectively. Across the full 5-year window we track, FNGG has the edge at +3.58% annualized vs +0.31%. 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 11.0% for NMI. 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 -91.3% for FNGG and -34.4% for NMI. 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 0.36. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FNGG charges 0.97% per year while NMI charges 0.73%. On a $10,000 position that is $97 vs $73 annually, a gap of $24 per year that compounds over a long holding period. On income, FNGG currently yields 10.70% against 4.65% for NMI.
Holdings Overlap
FNGG and NMI share 0 holdings out of 108 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, FNGG or NMI?
FNGG has an expense ratio of 0.97% while NMI charges 0.73%. NMI is the cheaper option. On a $10,000 investment, that is $24 per year of difference.
Which performed better, FNGG or NMI?
Over the past year FNGG returned +32.83% vs +13.39% for NMI, so FNGG leads on 1-year performance. Over the longest common window we track (5 years), FNGG annualized +3.58% vs +0.31% for NMI. Past performance does not guarantee future results.
Which is riskier, FNGG or NMI?
FNGG has been the more volatile fund at 58.3% annualized versus 11.0% for NMI. Worst drawdown: FNGG -91.3% vs NMI -34.4%.
Should I hold both FNGG and NMI?
FNGG and NMI have a monthly-return correlation of 0.36, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FNGG and NMI?
FNGG and NMI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 108 unique securities.
Which pays a higher dividend, FNGG or NMI?
FNGG yields 10.70% while NMI yields 4.65%, so FNGG currently pays the higher dividend yield.
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