FNGOMicroSectors FANG+ Index 2X Leveraged ETN
FNGO Fund Description
FNGO provides 2x the daily price movements of an index of US-listed technology and consumer discretionary companies. The index is highly concentrated and equally weighted.
FNGO Factset Analytics Insight
FNGO offers 2x leveraged exposure to an index of “FANG” companies (Facebook, Apple, Amazon, Netflix, and Alphabet [formerly Google]), as well as other companies that exhibit similar characteristics. Presumably, the index will always include these five companies; an index committee is responsible for selecting the additional names. Eligible stocks must be listed on a US exchange (ADRs are acceptable), classified in the technology or consumer discretionary sectors, and exhibit similar traits to other technology and internet companies. At least ten stocks must be included in the index—the number of constituents when the note launched—so investors can expect a high level of concentration. All holdings are equally weighted. As a geared product with daily resets, FNGO is designed as a short-term trading tool and not a long-term investment vehicle. Long-term returns could materially differ from those of the underlying index due to daily compounding. Although FNGO’s fee may seem high, trading costs should be the greater concern for short-term positions.
FNGO CHARTS AND PERFORMANCE
FNGO Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of FNGO. FNGO is rated a N/A out of 5.