MicroSectors FANG Index
Key Metrics
Market Snapshot
About
MicroSectors FANG Index (FNGD) is a financial product issuer based in the United States. It is best known for creating exchange-traded notes, or ETNs, which are senior, unsecured debt securities designed to track the daily performance of a specific index. These products do not represent a share of ownership in a fund or a basket of stocks, but rather a promise by the issuer to pay returns based on the index's movements.
The company's ETNs are intended as tools for sophisticated investors seeking to manage daily trading risks within a broader portfolio strategy. They track proprietary indices, such as the one referenced in the company's name, which are constructed around specific market segments. The underlying FANG Index, for example, is an equal-dollar weighted index. It aims to represent a portion of the technology and consumer discretionary sectors by focusing on highly-traded growth stocks from technology and tech-enabled companies.
MicroSectors FANG Index generates revenue through investor participation in its notes, as the structure of ETNs typically involves fees that accrue to the issuer over time. The products are listed and traded on major exchanges like the NYSE Arca, providing liquidity for investors. The company's operations are centered on the creation, management, and administration of these indexed debt instruments, catering primarily to traders and investors looking for targeted, leveraged, or inverse exposure to specific market themes on a daily basis.