Share-split context: A reverse split was recorded on Feb 13, 2023 with coefficient 0.1. A reverse split combines multiple old shares into fewer new shares and mechanically raises the quoted price per share. That mechanical increase does not restore lost investment value. The returns in this report are already split-adjusted, while reverse-split history remains a separate structural warning.

ETF Education Report: DIREXION Daily NYSE FANG+ Bull 2X Shares (FNGG)

What this ETF is trying to do

The FNGG ETF is a leveraged fund. This means it uses financial tools to try and multiply the daily performance of its target index. It is designed to provide "2X" exposure, which aims to deliver twice the daily return of the NYSE FANG+ index.

What the numbers show

When looking at how this ETF has performed, it is important to distinguish between "price return" and "total return."

• Price Return: This measures only the change in the share price.

• Total Return: This includes both the share price changes and any cash distributions (dividends) paid out.

According to the data:

• Year-to-Date (YTD): The price return is approximately 40.59%, while the total return is approximately 41.79%.

• One-Year: The price return is approximately 20.00%, while the total return is approximately 33.17%.

• Three-Year: The price return is approximately 300.80%, while the total return is approximately 354.99%.

This ETF has a history of reverse splits. In a reverse split, multiple old shares are combined into fewer new shares. This causes the quoted per-share price to rise mechanically, but it does not increase the actual value of your investment.

Income and distribution explanation

FNGG has a distribution yield of approximately 8.53%. This represents the cash distributions paid out relative to the current ETF price. Over the last 12 months, there were 5 payouts. While these distributions provide cash income, a high yield does not guarantee that the investment's value will stay the same.

NAV erosion explanation

"NAV erosion" refers to a decline in the Net Asset Value (the actual value of the fund's underlying assets). Some investors worry that high distributions might come from the fund's own value. However, for FNGG, the erosion-risk score is 100, and the label states "No price erosion detected." There is no severe erosion-risk flag for this ETF.

Top Holdings

The following are the top holdings in the portfolio (as of October 8, 2026). Please note that holdings can change over time.

• NYFANG SWAP ASSET LEG: 66.31%

• DREYFUS GOVT CASH MAN INS: 16.71%

• GOLDMAN FINL SQ TRSRY INST 506: 5.99%

• MICRON TECHNOLOGY INC: 2.17%

• META PLATFORMS INC CLASS A: 2.03%

• PALANTIR TECHNOLOGIES INC: 2.03%

• NVIDIA CORP: 2.02%

• MICROSOFT CORP: 1.97%

• BROADCOM INC: 1.95%

• AMAZON.COM INC: 1.91%

Pros

• High potential for price growth based on historical total returns.

• Provides regular cash distributions.

Cons

• It is a leveraged ETF, which can lead to higher volatility.

• The fund has a history of reverse splits.

Beginner takeaway

FNGG is a high-growth, leveraged fund that offers both price movement and cash distributions. Because it is leveraged, its value can move very quickly. Always remember that a high distribution yield is separate from the total return of your investment.