CARU vs. NRGU

Last updated Jun 5, 2026

CARU (Max Auto Industry 3X Leveraged ETN) and NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) are both Leveraged Equities funds - CARU tracks the Prime Auto Industry Index - Benchmark TR Net (--300%) while NRGU tracks the Solactive MicroSectors U.S. Big Oil Index (-300%). Both are passively managed. Over the past year, CARU returned -12.69% vs 171.19% for NRGU. At a 0.12 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

CARU vs. NRGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Max Auto Industry 3X Leveraged ETN (CARU) 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, CARU achieves a -22.32% return, which is significantly lower than NRGU's 125.94% return.

CARU

• 1D: 0.92%
• 1M: 7.84%
• YTD: -22.32%
• 6M: -27.15%
• 1Y: -12.69%
• 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)

CARU vs. NRGU - Yearly Performance Comparison

	2026 (YTD)	2025
CARU Max Auto Industry 3X Leveraged ETN	-22.32%	2.50%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	125.94%	-33.00%

Correlation

The correlation between CARU 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 21, 2025	0.12

The correlation between CARU and NRGU shifts across timeframes, from -0.06 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CARU vs. NRGU — Risk / Return Rank

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

CARU

CARU Risk / Return Rank: 8
CARU Sharpe Ratio Rank: 7
CARU Sortino Ratio Rank: 10
CARU Omega Ratio Rank: 10
CARU Calmar Ratio Rank: 7
CARU Martin Ratio Rank: 7

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.

CARU vs. NRGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Max Auto Industry 3X Leveraged ETN (CARU) 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.

	CARU	NRGU	Difference
Sharpe ratio: Return per unit of total volatility	-0.19	2.31	-2.49
Sortino ratio: Return per unit of downside risk	0.20	2.55	-2.35
Omega ratio: Gain probability vs. loss probability	1.02	1.32	-0.30
Calmar ratio: Return relative to maximum drawdown	-0.25	4.31	-4.56
Martin ratio: Return relative to average drawdown	-0.53	10.74	-11.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CARU vs. NRGU - Sharpe Ratio Comparison

The current CARU Sharpe Ratio is -0.19, which is lower than the NRGU Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of CARU 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

	CARU	NRGU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.19	2.31	-2.49
Sharpe Ratio (All Time) Calculated using the full available price history	-0.04	0.43	-0.47

Drawdowns

CARU vs. NRGU - Drawdown Comparison

The maximum CARU drawdown since its inception was -66.44%, which is greater than NRGU's maximum drawdown of -57.50%. Use the drawdown chart below to compare losses from any high point for CARU and NRGU.

Drawdown Indicators

	CARU	NRGU	Difference
Max Drawdown Largest peak-to-trough decline	-66.44%	-57.50%	-8.94%
Max Drawdown (1Y) Largest decline over 1 year	-50.87%	-39.95%	-10.92%
Current Drawdown Current decline from peak	-38.66%	-22.07%	-16.59%
Average Drawdown Average peak-to-trough decline	-35.91%	-25.41%	-10.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.09%	16.01%	+8.08%

Volatility

CARU vs. NRGU - Volatility Comparison

The current volatility for Max Auto Industry 3X Leveraged ETN (CARU) is 22.69%, while MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a volatility of 31.62%. This indicates that CARU 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

	CARU	NRGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.69%	31.62%	-8.93%
Volatility (6M) Calculated over the trailing 6-month period	50.06%	61.19%	-11.13%
Volatility (1Y) Calculated over the trailing 1-year period	68.54%	75.02%	-6.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.22%	89.03%	-8.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.22%	89.03%	-8.81%

CARU vs. NRGU - Expense Ratio Comparison

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

Dividends

CARU vs. NRGU - Dividend Comparison

Neither CARU nor NRGU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CARU and NRGU in my portfolio?

CARU 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, CARU or NRGU?

NRGU has higher volatility (31.62%) compared to CARU (22.69%). In terms of maximum drawdown, CARU dropped -66.44% vs NRGU's -57.50%.

Which ETF is better, CARU or NRGU?

On 1-year performance, NRGU leads with 171.19% vs -12.69% for CARU. Both ETFs have the same 0.95% expense ratio. On volatility, CARU has been the lower-risk option at 22.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CARU or NRGU?

Over the 1-year period, NRGU has performed better with a 171.19% return vs -12.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CARU or NRGU?

CARU and NRGU have the same expense ratio: 0.95% per year.

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

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

What is the main difference between CARU and NRGU?

CARU tracks Prime Auto Industry Index - Benchmark TR Net (--300%), while NRGU tracks Solactive MicroSectors U.S. Big Oil Index (-300%). They also come from different issuers: Max and BMO.

Which has better risk-adjusted returns?

NRGU currently has the higher Sharpe Ratio (2.31 vs -0.19), 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.