BMNG vs. NRGU

Last updated Jun 5, 2026

BMNG (Leverage Shares 2X Long BMNR Daily ETF) and NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) are both Leveraged Equities funds. BMNG is actively managed, while NRGU is passively managed. At a 0.06 correlation, their price movements are largely independent. BMNG charges 0.75%/yr vs 0.95%/yr for NRGU.

Performance

BMNG vs. NRGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long BMNR Daily ETF (BMNG) 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, BMNG achieves a -72.19% return, which is significantly lower than NRGU's 125.94% return.

BMNG

• 1D: 11.82%
• 1M: -43.79%
• YTD: -72.19%
• 6M: -85.64%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NRGU

• 1D: -1.47%
• 1M: -6.46%
• YTD: 125.94%
• 6M: 93.16%
• 1Y: 171.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BMNG vs. NRGU - Yearly Performance Comparison

	2026 (YTD)	2025
BMNG Leverage Shares 2X Long BMNR Daily ETF	-72.19%	-81.37%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	125.94%	-7.06%

Correlation

The correlation between BMNG and NRGU is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 28, 2025	0.06

Return for Risk

BMNG vs. NRGU — Risk / Return Rank

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

NRGU

NRGU Risk / Return Rank: 64
NRGU Sharpe Ratio Rank: 72
NRGU Sortino Ratio Rank: 53
NRGU Omega Ratio Rank: 53
NRGU Calmar Ratio Rank: 82
NRGU Martin Ratio Rank: 61

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.

BMNG vs. NRGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long BMNR Daily ETF (BMNG) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BMNG	NRGU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.31	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.52	0.43	-0.95

Drawdowns

BMNG vs. NRGU - Drawdown Comparison

The maximum BMNG drawdown since its inception was -95.36%, which is greater than NRGU's maximum drawdown of -57.50%. Use the drawdown chart below to compare losses from any high point for BMNG and NRGU.

Drawdown Indicators

	BMNG	NRGU	Difference
Max Drawdown Largest peak-to-trough decline	-95.36%	-57.50%	-37.86%
Max Drawdown (1Y) Largest decline over 1 year	—	-39.95%	—
Current Drawdown Current decline from peak	-94.82%	-22.07%	-72.75%
Average Drawdown Average peak-to-trough decline	-81.47%	-25.41%	-56.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	16.01%	—

Volatility

Volatility by Period

	BMNG	NRGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	31.62%	—
Volatility (6M) Calculated over the trailing 6-month period	—	61.19%	—
Volatility (1Y) Calculated over the trailing 1-year period	191.69%	75.02%	+116.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	191.69%	89.03%	+102.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	191.69%	89.03%	+102.66%

BMNG vs. NRGU - Expense Ratio Comparison

BMNG has a 0.75% expense ratio, which is lower than NRGU's 0.95% expense ratio.

Dividends

BMNG vs. NRGU - Dividend Comparison

Neither BMNG nor NRGU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BMNG and NRGU in my portfolio?

BMNG and NRGU have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BMNG or NRGU?

On fees, BMNG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BMNG or NRGU?

BMNG is cheaper with a 0.75% expense ratio, compared with 0.95% for NRGU.

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

BMNG and NRGU have nearly identical dividend yields, around 0.00%.

What is the main difference between BMNG and NRGU?

They also come from different issuers: Leverage Shares and BMO. Their fees differ too: 0.75% for BMNG and 0.95% for NRGU.