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FRLG
GS Finance Large Cap Growth Index-Linked ETN

Price: $217.91
Change: $0.53 (0.0%)
Category: Leveraged Equities
Last Updated:

Vitals

Investment Themes

Trading Data

Open - Volume -
Day Lo - Day Hi -
  • Open
  • Volume
  • Day Lo
  • Day Hi
  • 52 Week Lo $73.00
  • 52 Week Hi $221.07
  • AUM $35.0 M
  • Shares 0.2 M

Analyst Report

The GS Finance Large Cap Growth Index-Linked ETN (FRLG) aims to double the daily return of the Russell 1000 Growth Index, an index of U.S. large-cap equities such as Microsoft, Apple, and Amazon.

The notes are intended to be used as short-term trading tools by sophisticated investors. FRLG, like most leveraged products, rebalances at the end of every trading day. In practice, this means FRLG’s performance will diverge significantly from the underlying stocks. The daily reset means that FRLG could lose money over time even if the underlying equities have posted a gain, which can come as a rude surprise to buy-and-hold investors.

Investors looking for long-term exposure to the Russell 1000 Growth Index would do better with un-leveraged funds like the Vanguard Russell 1000 Growth ETF (VONG) or iShares Russell 1000 Growth ETF (IWF). There are plenty of other low-cost growth stock ETFs out there too, like the Schwab U.S. Large-Cap Growth ETF (SCHG), which follows a Dow Jones index, or the Vanguard Growth ETF (VUG), which follows a CRSP index.

FRLG’s management fee of 65 basis points might seem like a high price to pay for a passive investment, but that shouldn’t be a major concern for short-term trading. It’s cheaper than nearly identical products like the Credit Suisse FI Large Cap Growth Enhanced ETGN (FLGE) and the UBS AG FI Enhanced Large Cap Growth ETN (FBGX).

Historical Trading Data

  • 1 Month Avg. Volume 757
  • 3 Month Avg. Volume 2,466

Alternative ETFs in the Leveraged Equities Category

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest SDYL 0.30% $10.0 M 1,278 -13.80%
Largest (AUM) TQQQ 0.95% $8.8 B 35 M 82.58%
Most Liquid (Volume) SQQQ 0.95% $1.5 B 77 M -84.14%
Top YTD Performer FNGU 0.95% $968.5 M 741,112 260.17%

Top 15 Holdings

Concentration Analysis

This section compares how balanced and deep this ETF is relative to the peer group ETFdb.com Category.

445
Number of Holdings
44.48%
% Assets in Top 10
51.26%
% Assets in Top 15
73.30%
% Assets in Top 50
Number of Holdings
445

% Assets in Top 10
44.48%

% Assets in Top 15
51.26%

% Assets in Top 50
73.30%

Sector Breakdown

FRLG Valuation

This section shows how the P/E multiple of this ETF compares to the peer group ETFdb.com Category.

P/E Ratio
No Ranking Available
Rank
N/A

FRLG Dividend

This section shows how the dividend yield of this ETF compares to the peer group ETFdb.com Category.

Dividend
n/a
Dividend Date
n/a
Annual Dividend Rate
n/a

n/a
Dividend
n/a
Dividend Date
n/a
Annual Dividend Rate
Annual Dividend Yield
No Ranking Available
Rank
N/A

FRLG Fund Flows

View charts featuring ETF fund flow data.

5 Day Net Flows: 0 1 Month Net Flows: -56.23 M 3 Month Net Flows: -56.23 M 6 Month Net Flows: -1.49 B 1 Year Net Flows: -1.29 B 3 Year Net Flows: -1.29 B 5 Year Net Flows: -1.29 B 10 Year Net Flows: -1.29 B

Realtime Rating

The adjacent table gives investors an individual Realtime Rating for FRLG on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETFdb Pro members, shows the ETF in the Leveraged Equities with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETFdb Pro. To view information on how the ETFdb Realtime Ratings work, click here.

Metric Metric Realtime Rating A+ Metric Rated ETF
Liquidity n/a n/a
Expenses n/a n/a
Performance
Volatility
Dividend
Concentration

A+ Overall Rated ETF:

FRLG Expenses & Fees

This section compares the cost efficiency of this ETF to peers in the same ETFdb.com Category.

Expenses Ratio Analysis

ETF Average
0.534%
ETF Wtd. Average
-0.13%
Category Average
1.02%
Expense Ratio
0.65%
ESG Themes and Scores

FRLG does not have an ESG score. There are no ESG themes that map to this ETF.

FRLG Performance

This section shows how this ETF has performed relative to its peer group ETFdb.com Category.

4.63%
1 Week Return
19.94%
4 Week Return
2.67%
13 Week Return
50.02%
26 Week Return
50.72%
Year to Date Return
58.79%
1 Year Return
No Ranking Available
3 Year Return
No Ranking Available
5 Year Return
1 Week Return
4.63%

4 Week Return
19.94%

13 Week Return
2.67%

26 Week Return
50.02%

Year to Date Return
50.72%

1 Year Return
58.79%

3 Year Return
No Ranking Available

5 Year Return
No Ranking Available

FRLG Price and Volume Chart

FRLG Technicals

Volatility Analysis

This section shows how the volatility of this ETF compares to the peer group ETFdb.com Category.

5 Day Volatility
155.03%
Rank
110 of 145

20 Day Volatility
41.99%
Rank
109 of 145

50 Day Volatility
47.45%
Rank
101 of 145

200 Day Volatility
45.05%
Rank
102 of 145

Beta
2.2
Rank
60 of 145

Standard Deviation
33.52%
Rank
31 of 142

Technicals

  • 20 Day MA $207.94
  • 60 Day MA $199.04
  • MACD 15 Period 7.66
  • MACD 100 Period 24.57
  • Williams % Range 10 Day n/a
  • Williams % Range 20 Day 2.29
  • RSI 10 Day 63
  • RSI 20 Day 58
  • RSI 30 Day 57
  • Ultimate Oscillator 73

Bollinger Brands

  • Lower Bollinger (10 Day) $205.23
  • Upper Bollinger (10 Day) $218.48
  • Lower Bollinger (20 Day) $190.91
  • Upper Bollinger (20 Day) $225.03
  • Lower Bollinger (30 Day) $183.80
  • Upper Bollinger (30 Day) $224.23

Support & Resistance

  • Support Level 1 $216.87
  • Support Level 2 $215.83
  • Resistance Level 1 $218.43
  • Resistance Level 2 $218.95

Stochastic

  • Stochastic Oscillator %D (1 Day) 75.22
  • Stochastic Oscillator %D (5 Day) 88.03
  • Stochastic Oscillator %K (1 Day) 67.95
  • Stochastic Oscillator %K (5 Day) 74.18

Fact Sheet

A fact sheet is not available for this ETF. Please visit the FRLG ETF home page for more information.

Disclosures

Copyright © 2020 FactSet Research Systems Inc. All rights reserved.

Copyright MSCI ESG Research LLC [2018]. All Rights Reserved. MSCI ESG Research LLC’s (“MSCI ESG”) Fund Metrics products (the “Information”) provide environmental, social and governance data with respect to underlying securities within more than 23,000 multi-asset class Mutual Funds and ETFs globally. MSCI ESG is a Registered Investment Adviser under the Investment Advisers Act of 1940. MSCI ESG materials have not been submitted, to nor received approval from, the US SEC or any other regulatory body. None of the information constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the Information can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided “as is” and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. All Information is provided solely for your internal use, and may not be reproduced or redisseminated in any form without express prior written permission from MSCI. Neither MSCI ESG nor any of its affiliates or any third party involved in or related to creating any Information makes any express or implied warranties, representations or guarantees, and in no event will MSCI ESG or any such affiliate or third party have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) relating to any Information. More information on MSCI ESG Fund Metrics, provided by MSCI ESG Research LLC, can be found at https://www.msci.com/esg-fund-metrics.
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