BZQ vs. NRGU

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares UltraShort MSCI Brazil Capped (BZQ) and MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU).

BZQ and NRGU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BZQ is a passively managed fund by ProShares that tracks the performance of the MSCI Brazil 25-50 (-200%). It was launched on Jun 16, 2009. NRGU is a passively managed fund by BMO that tracks the performance of the Solactive MicroSectors U.S. Big Oil Index (-300%). It was launched on Apr 9, 2019. Both BZQ and NRGU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

BZQ vs. NRGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort MSCI Brazil Capped (BZQ) and MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU). The values are adjusted to include any dividend payments, if applicable.

BZQ vs. NRGU - Yearly Performance Comparison

	2026 (YTD)	2025
BZQ ProShares UltraShort MSCI Brazil Capped	-35.24%	-42.62%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	139.49%	-33.00%

Returns By Period

In the year-to-date period, BZQ achieves a -35.24% return, which is significantly lower than NRGU's 139.49% return.

BZQ

• 1D: -0.31%
• 1M: -2.23%
• YTD: -35.24%
• 6M: -44.95%
• 1Y: -62.63%
• 3Y*: -34.64%
• 5Y*: -32.43%
• 10Y*: -38.77%

NRGU

• 1D: -10.75%
• 1M: 24.81%
• YTD: 139.49%
• 6M: 107.68%
• 1Y: 69.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BZQ vs. NRGU - Expense Ratio Comparison

Both BZQ and NRGU have an expense ratio of 0.95%.

BZQ

ProShares UltraShort MSCI Brazil Capped

NRGU

MicroSectors U.S. Big Oil Index 3X Leveraged ETN

Return for Risk

BZQ vs. NRGU — Risk / Return Rank

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

BZQ

BZQ Risk / Return Rank: 1
BZQ Sharpe Ratio Rank: 0
BZQ Sortino Ratio Rank: 0
BZQ Omega Ratio Rank: 0
BZQ Calmar Ratio Rank: 1
BZQ Martin Ratio Rank: 2

NRGU

NRGU Risk / Return Rank: 45
NRGU Sharpe Ratio Rank: 40
NRGU Sortino Ratio Rank: 54
NRGU Omega Ratio Rank: 54
NRGU Calmar Ratio Rank: 47
NRGU Martin Ratio Rank: 30

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.

BZQ vs. NRGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort MSCI Brazil Capped (BZQ) 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.

	BZQ	NRGU	Difference
Sharpe ratio Return per unit of total volatility	-1.22	0.79	-2.01
Sortino ratio Return per unit of downside risk	-2.25	1.48	-3.73
Omega ratio Gain probability vs. loss probability	0.75	1.21	-0.46
Calmar ratio Return relative to maximum drawdown	-0.90	1.29	-2.20
Martin ratio Return relative to average drawdown	-1.36	2.64	-4.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BZQ vs. NRGU - Sharpe Ratio Comparison

The current BZQ Sharpe Ratio is -1.22, which is lower than the NRGU Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of BZQ and NRGU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BZQ	NRGU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.22	0.79	-2.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.59	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.46	0.61	-1.08

Correlation

The correlation between BZQ and NRGU is -0.24. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

BZQ vs. NRGU - Dividend Comparison

BZQ's dividend yield for the trailing twelve months is around 8.52%, while NRGU has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BZQ ProShares UltraShort MSCI Brazil Capped	8.52%	5.96%	3.26%	4.51%	0.22%	0.00%	0.21%	2.13%	0.28%
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%

Drawdowns

BZQ vs. NRGU - Drawdown Comparison

The maximum BZQ drawdown since its inception was -99.79%, which is greater than NRGU's maximum drawdown of -57.50%. Use the drawdown chart below to compare losses from any high point for BZQ and NRGU.

Drawdown Indicators

	BZQ	NRGU	Difference
Max Drawdown Largest peak-to-trough decline	-99.79%	-57.50%	-42.29%
Max Drawdown (1Y) Largest decline over 1 year	-70.23%	-55.24%	-14.99%
Max Drawdown (5Y) Largest decline over 5 years	-86.86%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-99.37%	—	—
Current Drawdown Current decline from peak	-99.79%	-17.40%	-82.39%
Average Drawdown Average peak-to-trough decline	-84.38%	-25.38%	-59.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	46.46%	27.12%	+19.34%

Volatility

BZQ vs. NRGU - Volatility Comparison

ProShares UltraShort MSCI Brazil Capped (BZQ) and MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) have volatilities of 22.43% and 23.31%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BZQ	NRGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.43%	23.31%	-0.88%
Volatility (6M) Calculated over the trailing 6-month period	39.07%	50.27%	-11.20%
Volatility (1Y) Calculated over the trailing 1-year period	51.39%	88.18%	-36.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.41%	87.12%	-31.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.40%	87.12%	-19.72%