CDX vs. NRGU

Last updated Aug 2, 2026

CDX (Simplify High Yield ETF) and NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) are both exchange-traded funds - CDX is a High Yield Bonds fund actively managed by Simplify, while NRGU is a Leveraged Equities fund tracking the Solactive MicroSectors U.S. Big Oil Index. CDX is actively managed, while NRGU is passively managed. Over the past year, CDX returned -3.26% vs 166.43% for NRGU. Their -0.14 correlation means they have often moved in opposite directions in the past. CDX charges 0.25%/yr vs 0.95%/yr for NRGU.

Performance

CDX vs. NRGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify High Yield ETF (CDX) 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, CDX achieves a -3.00% return, which is significantly lower than NRGU's 157.14% return.

CDX

• 1D: 0.10%
• 1M: -0.57%
• 6M: -3.06%
• YTD: -3.00%
• 1Y: -3.26%
• 3Y*: 7.17%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.85%

NRGU

• 1D: 2.86%
• 1M: 51.26%
• 6M: 91.25%
• YTD: 157.14%
• 1Y: 166.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 50.40%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CDX Simplify High Yield ETF	$2.23M	$2.17M	$2.98M
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	$4.57M	$4.13M	$3.95M

CDX vs. NRGU - Yearly Performance Comparison

	2026 (YTD)	2025
CDX Simplify High Yield ETF	-3.00%	5.72%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	157.14%	-30.00%

Correlation

The correlation between CDX and NRGU is -0.24, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.24
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	-0.14

Return for Risk

CDX vs. NRGU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CDX

CDX Risk / Return Rank: 4
CDX Sharpe Ratio Rank: 5
CDX Sortino Ratio Rank: 4
CDX Omega Ratio Rank: 4
CDX Calmar Ratio Rank: 4
CDX Martin Ratio Rank: 0

NRGU

NRGU Risk / Return Rank: 75
NRGU Sharpe Ratio Rank: 83
NRGU Sortino Ratio Rank: 72
NRGU Omega Ratio Rank: 69
NRGU Calmar Ratio Rank: 86
NRGU Martin Ratio Rank: 63

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CDX vs. NRGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify High Yield ETF (CDX) 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.

	CDX	NRGU	Difference
Sharpe ratio: Return per unit of total volatility	-0.54	1.92	-2.46
Sortino ratio: Return per unit of downside risk	-0.74	2.31	-3.05
Omega ratio: Gain probability vs. loss probability	0.92	1.29	-0.37
Calmar ratio: Return relative to maximum drawdown	-0.60	3.38	-3.98
Martin ratio: Return relative to average drawdown	-1.44	7.59	-9.03

CDX vs. NRGU - Sharpe Ratio Comparison

The current CDX Sharpe Ratio is -0.54, which is lower than the NRGU Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of CDX 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

CDX vs. NRGU - Drawdown Comparison

The maximum CDX drawdown since its inception was -13.24%, smaller than the maximum NRGU drawdown of -57.50%. Use the drawdown chart below to compare losses from any high point for CDX and NRGU.

Drawdown Indicators

	CDX	NRGU	Difference
Max Drawdown Largest peak-to-trough decline	-13.24%	-57.50%	+44.26%
Max Drawdown (1Y) Largest decline over 1 year	-5.37%	-43.89%	+38.52%
Max Drawdown (3Y) Largest decline over 3 years	-8.97%	—	—
Current Drawdown Current decline from peak	-7.94%	-11.31%	+3.37%
Average Drawdown Average peak-to-trough decline	-4.44%	-25.74%	+21.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	19.55%	-17.31%

Volatility

CDX vs. NRGU - Volatility Comparison

The current volatility for Simplify High Yield ETF (CDX) is 2.02%, while MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a volatility of 22.83%. This indicates that CDX 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

	CDX	NRGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.02%	22.83%	-20.81%
Volatility (6M) Calculated over the trailing 6-month period	5.16%	64.33%	-59.17%
Volatility (1Y) Calculated over the trailing 1-year period	5.98%	77.39%	-71.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.97%	88.47%	-77.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.97%	88.47%	-77.50%

CDX vs. NRGU - Expense Ratio Comparison

CDX has a 0.25% expense ratio, which is lower than NRGU's 0.95% expense ratio.

Dividends

CDX vs. NRGU - Dividend Comparison

CDX's dividend yield for the trailing twelve months is around 8.33%, while NRGU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
CDX Simplify High Yield ETF	8.33%	7.18%	12.60%	5.26%	7.51%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CDX and NRGU in my portfolio?

CDX and NRGU have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CDX or NRGU?

NRGU has higher volatility (22.83%) compared to CDX (2.02%). In terms of maximum drawdown, CDX dropped -13.24% vs NRGU's -57.50%.

Which ETF is better, CDX or NRGU?

On 1-year performance, NRGU leads with 166.43% vs -3.26% for CDX. On fees, CDX is cheaper at 0.25% per year. On volatility, CDX has been the lower-risk option at 2.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CDX or NRGU?

Over the 1-year period, NRGU has performed better with a 166.43% return vs -3.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CDX or NRGU?

CDX is cheaper with a 0.25% expense ratio, compared with 0.95% for NRGU.

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

CDX has the higher dividend yield at 8.33%, compared with 0.00% for NRGU.

What is the main difference between CDX and NRGU?

CDX is categorized as High Yield Bonds, while NRGU is Leveraged Equities. They also come from different issuers: Simplify and BMO. Their fees differ too: 0.25% for CDX and 0.95% for NRGU.

Which has better risk-adjusted returns?

NRGU currently has the higher Sharpe Ratio (1.92 vs -0.54), 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.