BRZU vs. NRGU

Last updated Jun 26, 2026

BRZU (Direxion Daily Brazil Bull 2X Shares) and NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) are both Leveraged Equities funds - BRZU tracks the MSCI Brazil 25/50 Index while NRGU tracks the Solactive MicroSectors U.S. Big Oil Index (-300%). Both are passively managed. Over the past year, BRZU returned 49.04% vs 87.62% for NRGU. At a 0.16 correlation, their price movements are largely independent. BRZU charges 1.29%/yr vs 0.95%/yr for NRGU.

Performance

BRZU vs. NRGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Brazil Bull 2X Shares (BRZU) 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, BRZU achieves a 10.43% return, which is significantly lower than NRGU's 74.97% return.

BRZU

• 1D: 1.88%
• 1M: -11.31%
• YTD: 10.43%
• 6M: 12.45%
• 1Y: 49.04%
• 3Y*: 2.80%
• 5Y*: -4.20%
• 10Y*: -16.32%

NRGU

• 1D: 2.72%
• 1M: -13.53%
• YTD: 74.97%
• 6M: 78.13%
• 1Y: 87.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BRZU vs. NRGU - Yearly Performance Comparison

	2026 (YTD)	2025
BRZU Direxion Daily Brazil Bull 2X Shares	10.43%	49.53%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	74.97%	-30.00%

Correlation

The correlation between BRZU 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 (1Y) Calculated over the trailing 1-year period	0.06
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.16

The correlation between BRZU and NRGU shifts across timeframes, from 0.06 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.

BRZU vs. NRGU - Sectors Allocation Comparison

Sectors	BRZU	NRGU
Financial Services	33.4%	-
Energy	16.7%	100.0%
Basic Materials	15.3%	-
Utilities	12.8%	-
Industrials	11.0%	-
Consumer Defensive	4.6%	-
Healthcare	2.3%	-
Communication Services	2.1%	-
Consumer Cyclical	1.4%	-
Technology	0.4%	-
Real Estate	-	-

Return for Risk

BRZU vs. NRGU — Risk / Return Rank

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

BRZU

BRZU Risk / Return Rank: 30
BRZU Sharpe Ratio Rank: 30
BRZU Sortino Ratio Rank: 31
BRZU Omega Ratio Rank: 30
BRZU Calmar Ratio Rank: 30
BRZU Martin Ratio Rank: 28

NRGU

NRGU Risk / Return Rank: 38
NRGU Sharpe Ratio Rank: 36
NRGU Sortino Ratio Rank: 37
NRGU Omega Ratio Rank: 36
NRGU Calmar Ratio Rank: 47
NRGU Martin Ratio Rank: 36

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.

BRZU vs. NRGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Brazil Bull 2X Shares (BRZU) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BRZU	NRGU	Difference
Sharpe ratio: Return per unit of total volatility	0.99	1.16	-0.17
Sortino ratio: Return per unit of downside risk	1.52	1.76	-0.24
Omega ratio: Gain probability vs. loss probability	1.19	1.22	-0.03
Calmar ratio: Return relative to maximum drawdown	1.37	2.06	-0.69
Martin ratio: Return relative to average drawdown	3.67	4.94	-1.27

BRZU vs. NRGU - Sharpe Ratio Comparison

The current BRZU Sharpe Ratio is 0.99, which is comparable to the NRGU Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of BRZU 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.

Drawdowns

BRZU vs. NRGU - Drawdown Comparison

The maximum BRZU drawdown since its inception was -99.71%, which is greater than NRGU's maximum drawdown of -57.50%. Use the drawdown chart below to compare losses from any high point for BRZU and NRGU.

Drawdown Indicators

	BRZU	NRGU	Difference
Max Drawdown Largest peak-to-trough decline	-99.71%	-57.50%	-42.21%
Max Drawdown (1Y) Largest decline over 1 year	-35.97%	-42.71%	+6.74%
Max Drawdown (3Y) Largest decline over 3 years	-58.25%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-63.60%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-98.11%	—	—
Current Drawdown Current decline from peak	-99.21%	-39.65%	-59.56%
Average Drawdown Average peak-to-trough decline	-89.57%	-25.68%	-63.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.42%	17.80%	-4.38%

Volatility

BRZU vs. NRGU - Volatility Comparison

The current volatility for Direxion Daily Brazil Bull 2X Shares (BRZU) is 12.17%, while MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a volatility of 25.61%. This indicates that BRZU experiences smaller price fluctuations and is considered to be less risky than NRGU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRZU	NRGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.17%	25.61%	-13.44%
Volatility (6M) Calculated over the trailing 6-month period	39.53%	62.83%	-23.30%
Volatility (1Y) Calculated over the trailing 1-year period	49.99%	75.96%	-25.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.43%	89.05%	-33.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	82.67%	89.05%	-6.38%

BRZU vs. NRGU - Expense Ratio Comparison

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

Dividends

BRZU vs. NRGU - Dividend Comparison

BRZU's dividend yield for the trailing twelve months is around 2.04%, while NRGU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BRZU Direxion Daily Brazil Bull 2X Shares	2.04%	2.39%	8.73%	3.24%	4.70%	6.29%	0.78%	0.95%	1.04%	0.74%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BRZU and NRGU in my portfolio?

BRZU 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 is riskier, BRZU or NRGU?

NRGU has higher volatility (25.61%) compared to BRZU (12.17%). In terms of maximum drawdown, BRZU dropped -99.71% vs NRGU's -57.50%.

Which ETF is better, BRZU or NRGU?

On 1-year performance, NRGU leads with 87.62% vs 49.04% for BRZU. On fees, NRGU is cheaper at 0.95% per year. On volatility, BRZU has been the lower-risk option at 12.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BRZU or NRGU?

Over the 1-year period, NRGU has performed better with a 87.62% return vs 49.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BRZU or NRGU?

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

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

BRZU has the higher dividend yield at 2.04%, compared with 0.00% for NRGU.

What is the main difference between BRZU and NRGU?

BRZU tracks MSCI Brazil 25/50 Index, while NRGU tracks Solactive MicroSectors U.S. Big Oil Index (-300%). They also come from different issuers: Direxion and BMO. Their fees differ too: 1.29% for BRZU and 0.95% for NRGU.

Which has better risk-adjusted returns?

NRGU currently has the higher Sharpe Ratio (1.16 vs 0.99), 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.