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FNGG

$19.65+7.78%Nasdaq 10028/100
Fund Page ↗

BetaShares FANG+ Geared Fund · BetaShares

Data as at 29 March 2026

TL;DR

Aims to deliver approximately twice the daily return of the FANG+ Index using derivatives. Long-term returns diverge significantly from 2x the underlying index due to daily rebalancing effects.

MER (Annual Fee)
0.80%
#5 lowest in Nasdaq 100
1Y Return
+38.4%
3Y Return (p.a.)
+24.2%
Dividend Yield
-
Non-distributing
AUM
$1,200M
Assets under management
Avg Daily Turnover
$3.5M
Avg shares × unit price
Unit Price
$19.65
As at 29 March 2026
Provider
BetaShares
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Strategy

Uses derivatives and leverage to provide 2x daily exposure to the 10 FANG+ companies. Rebalances daily to maintain the leverage ratio, which causes compounding effects over time that diverge from simple 2x returns.

Top Holdings

Key Fact

If the underlying index rises 10% one day and falls 10% the next, FNGG rises roughly 20% then falls roughly 20% — ending at approximately 96% of its starting value despite the index returning to near the starting point. This compounding effect erodes value in volatile periods.

Suited for

Short-term traders with high risk tolerance wanting amplified tactical exposure to large-cap US technology. Not appropriate for buy-and-hold investors.

Risks

Daily leverage rebalancing causes volatility decay — in sideways or volatile markets, the fund loses value even when the underlying index ends flat. When FANG+ fell 50% in 2022, FNGG fell over 80%.

ETFCheck Score28/100
Fees (40%)0
Fund Size (25%)51
Liquidity (20%)76
Yield (15%)0
How scores are calculated →
Other Nasdaq 100 ETFs
FANG
0.35% MER
60
NDQ
0.48% MER
50
HNDQ
0.51% MER
38
QNDQ
0.28% MER
27View all Nasdaq 100 ETFs →

Frequently Asked Questions - FNGG

How does FNGG's 2x daily leverage actually work, and why does volatility decay destroy long-term returns?+
FNGG delivers twice the daily return of the FANG+ Index, resetting leverage each trading day. This daily reset creates volatility decay - in a sideways market where FANG+ rises 5% then falls 5%, FNGG loses more than the index due to compounding mathematics. While FNGG's 1Y return of 38.4% looks spectacular, investors holding through volatile periods can significantly underperform a simple 2x multiple of the underlying index return, making FNGG a tactical trading instrument rather than a buy-and-hold SMSF investment.
What are the ATO tax implications of holding FNGG in an Australian SMSF?+
FNGG's leveraged structure generates complex tax outcomes including potential synthetic equity distributions, derivative gains, and no franking credits since all exposure is to US-listed stocks. The 0% yield means no regular income, but capital gains on disposal are fully assessable, and SMSF trustees should note that FNGG's high volatility may trigger compliance concerns under the sole purpose test if auditors view it as speculative. Conservative SMSF trustees should seek tax advice before allocating to leveraged products and ensure their investment strategy explicitly permits geared ETFs.
Can FNGG go to zero, and what is the maximum an investor can lose?+
Unlike direct leverage through margin loans, FNGG investors can only lose their initial investment - there are no margin calls. However, prolonged market declines can theoretically reduce FNGG's value to near zero due to the compounding effect of daily 2x losses. A 50% single-day FANG+ decline would wipe out 100% of FNGG's value in theory, though circuit breakers would likely intervene. With only 10 underlying stocks and 2x leverage, FNGG carries the highest risk profile of any ETF listed on the ASX.
Who should actually invest in FNGG, and how does its 0.80% MER compare to alternatives?+
FNGG suits experienced traders making short-term tactical bets on US mega-cap tech momentum - not passive investors or typical SMSF portfolios seeking long-term growth. Its 0.80% MER is the highest in BetaShares' Nasdaq range, reflecting the cost of maintaining daily leveraged swap contracts, and is significantly above NDQ's 0.48% or QNDQ's 0.28%. Australian investors wanting amplified tech exposure over longer periods would be better served by holding NDQ with a separate margin facility, which avoids volatility decay and offers more transparent leverage costs.