AVGX vs. NRGU

Last updated Jun 6, 2026

AVGX (Defiance Daily Target 2X Long AVGO ETF) and NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) are both Leveraged Equities funds. AVGX is actively managed, while NRGU is passively managed. Over the past year, AVGX returned 57.26% vs 156.47% for NRGU. At a correlation of -0.00, they often move in opposite directions. AVGX charges 1.29%/yr vs 0.95%/yr for NRGU.

Performance

AVGX vs. NRGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long AVGO ETF (AVGX) and MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVGX achieves a 6.63% return, which is significantly lower than NRGU's 111.49% return.

AVGX

• 1D: -15.71%
• 1M: -21.92%
• YTD: 6.63%
• 6M: -18.71%
• 1Y: 57.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NRGU

• 1D: -6.40%
• 1M: 4.99%
• YTD: 111.49%
• 6M: 82.61%
• 1Y: 156.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AVGX vs. NRGU - Yearly Performance Comparison

	2026 (YTD)	2025
AVGX Defiance Daily Target 2X Long AVGO ETF	6.63%	66.61%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	111.49%	-33.00%

Correlation

The correlation between AVGX and NRGU is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025	-0.00

The correlation between AVGX and NRGU shifts across timeframes, from -0.13 (1 year) to -0.00 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AVGX vs. NRGU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AVGX

AVGX Risk / Return Rank: 24
AVGX Sharpe Ratio Rank: 20
AVGX Sortino Ratio Rank: 28
AVGX Omega Ratio Rank: 29
AVGX Calmar Ratio Rank: 24
AVGX Martin Ratio Rank: 21

NRGU

NRGU Risk / Return Rank: 61
NRGU Sharpe Ratio Rank: 65
NRGU Sortino Ratio Rank: 52
NRGU Omega Ratio Rank: 51
NRGU Calmar Ratio Rank: 79
NRGU Martin Ratio Rank: 57

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AVGX vs. NRGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long AVGO ETF (AVGX) and MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AVGX	NRGU	Difference
Sharpe ratio: Return per unit of total volatility	0.63	2.10	-1.47
Sortino ratio: Return per unit of downside risk	1.42	2.43	-1.00
Omega ratio: Gain probability vs. loss probability	1.19	1.30	-0.12
Calmar ratio: Return relative to maximum drawdown	1.06	3.94	-2.88
Martin ratio: Return relative to average drawdown	2.36	9.76	-7.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVGX vs. NRGU - Sharpe Ratio Comparison

The current AVGX Sharpe Ratio is 0.63, which is lower than the NRGU Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of AVGX and NRGU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AVGX	NRGU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.63	2.10	-1.47
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.35	+0.34

Drawdowns

AVGX vs. NRGU - Drawdown Comparison

The maximum AVGX drawdown since its inception was -70.97%, which is greater than NRGU's maximum drawdown of -57.50%. Use the drawdown chart below to compare losses from any high point for AVGX and NRGU.

Drawdown Indicators

	AVGX	NRGU	Difference
Max Drawdown Largest peak-to-trough decline	-70.97%	-57.50%	-13.47%
Max Drawdown (1Y) Largest decline over 1 year	-54.09%	-39.95%	-14.14%
Current Drawdown Current decline from peak	-37.76%	-27.06%	-10.70%
Average Drawdown Average peak-to-trough decline	-22.75%	-25.41%	+2.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.36%	16.10%	+8.26%

Volatility

AVGX vs. NRGU - Volatility Comparison

Defiance Daily Target 2X Long AVGO ETF (AVGX) has a higher volatility of 41.78% compared to MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) at 26.47%. This indicates that AVGX's price experiences larger fluctuations and is considered to be riskier than NRGU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVGX	NRGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	41.78%	26.47%	+15.31%
Volatility (6M) Calculated over the trailing 6-month period	70.71%	61.54%	+9.17%
Volatility (1Y) Calculated over the trailing 1-year period	91.02%	75.00%	+16.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	106.93%	89.08%	+17.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	106.93%	89.08%	+17.85%

AVGX vs. NRGU - Expense Ratio Comparison

AVGX has a 1.29% expense ratio, which is higher than NRGU's 0.95% expense ratio.

Dividends

AVGX vs. NRGU - Dividend Comparison

AVGX's dividend yield for the trailing twelve months is around 1.55%, while NRGU has not paid dividends to shareholders.

Position	TTM	2025	2024
AVGX Defiance Daily Target 2X Long AVGO ETF	1.55%	1.65%	0.81%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVGX and NRGU in my portfolio?

AVGX and NRGU have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVGX or NRGU?

AVGX has higher volatility (41.78%) compared to NRGU (26.47%). In terms of maximum drawdown, AVGX dropped -70.97% vs NRGU's -57.50%.

Which ETF is better, AVGX or NRGU?

On 1-year performance, NRGU leads with 156.47% vs 57.26% for AVGX. On fees, NRGU is cheaper at 0.95% per year. On volatility, NRGU has been the lower-risk option at 26.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVGX or NRGU?

Over the 1-year period, NRGU has performed better with a 156.47% return vs 57.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVGX or NRGU?

NRGU is cheaper with a 0.95% expense ratio, compared with 1.29% for AVGX.

Which ETF pays a higher dividend yield, AVGX or NRGU?

AVGX has the higher dividend yield at 1.55%, compared with 0.00% for NRGU.

What is the main difference between AVGX and NRGU?

They also come from different issuers: Defiance and BMO. Their fees differ too: 1.29% for AVGX and 0.95% for NRGU.

Which has better risk-adjusted returns?

NRGU currently has the higher Sharpe Ratio (2.10 vs 0.63), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.