FNGO vs VUG: Correlation
MicroSectors FANG Index 2X Leveraged ETNs due January 8 (FNGO) and Vanguard Growth ETF (VUG) show a very strong relationship: their 3-year correlation of weekly returns is 0.95.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGO and VUG?
Over the past 3 years, FNGO and VUG moved with a correlation of 0.95, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.94 lands near the 3-year figure. Over 5 years the correlation is 0.93, and the annualized covariance of weekly returns is 956.8 %².
In FNGO's tracked universe of 35 assets, VUG sits right near the top at #2. The last year tells two different stories: FNGO led by 17.5 percentage points, +33.7% for FNGO against +16.2% for VUG. Note the risk asymmetry: FNGO runs 2.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
FNGO vs VUG: side by side
| FNGO (MicroSectors FANG Index 2X Leveraged ETNs due January 8) | VUG (Vanguard Growth ETF) | |
|---|---|---|
| 1-year return | +33.7% | +16.2% |
| 5-year return | +220.3% | +78.4% |
| Volatility (ann.) | 51.9% | 19.4% |
| Beta vs S&P 500 | 3.12 | 1.28 |
| Max drawdown (3Y) | -47.6% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 30.8 | – |
| Dividend yield | 0.00% | 0.40% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $372.0B |
| Sector / category | US Listed | ETF · US Style |
VUG, Vanguard's Large Growth fund, carries $372.0B under management, 146 holdings, a 0.03% expense ratio, a 0.40% trailing dividend yield.
Year-by-year returns
| Year | FNGO | VUG |
|---|---|---|
| 2022 | -71.6% | -33.2% |
| 2023 | +240.1% | +46.8% |
| 2024 | +101.7% | +32.7% |
| 2025 | +25.5% | +19.4% |
| 2026 | +30.1% | +9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGO and VUG good diversifiers for each other?
Not really. At 0.95, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between FNGO and VUG?
As of 2026-08-27, the correlation of weekly returns between FNGO and VUG is 0.95 over 3 years, 0.94 over 1 year and 0.93 over 5 years.
Is VUG a good diversifier for FNGO?
Not really. At 0.95, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.95 mean?
On the −1 to +1 scale, 0.95 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngo-vs-vug.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngo-vs-vug/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNGO correlations · VUG correlations
