DIG vs. NRGU

Last updated Jun 24, 2026

DIG (ProShares Ultra Oil & Gas) and NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) are both Leveraged Equities funds - DIG tracks the Dow Jones U.S. Oil & Gas Index (200%) while NRGU tracks the Solactive MicroSectors U.S. Big Oil Index (-300%). Both are passively managed. Over the past year, DIG returned 53.89% vs 79.52% for NRGU. Their correlation of 0.95 suggests significant overlap in exposure. Both charge a 0.95% expense ratio.

Performance

DIG vs. NRGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Oil & Gas (DIG) 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, DIG achieves a 44.39% return, which is significantly lower than NRGU's 78.80% return.

DIG

• 1D: 1.37%
• 1M: -15.65%
• YTD: 44.39%
• 6M: 45.60%
• 1Y: 53.89%
• 3Y*: 19.73%
• 5Y*: 24.80%
• 10Y*: 3.76%

NRGU

• 1D: 1.89%
• 1M: -21.00%
• YTD: 78.80%
• 6M: 80.03%
• 1Y: 79.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DIG vs. NRGU - Yearly Performance Comparison

	2026 (YTD)	2025
DIG ProShares Ultra Oil & Gas	44.39%	-9.74%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	78.80%	-30.00%

Correlation

The correlation between DIG and NRGU is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.95

The correlation between DIG and NRGU has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

DIG vs. NRGU - Sectors Allocation Comparison

Sectors	DIG	NRGU
Energy	67.5%	100.0%
Financial Services	7.7%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

DIG vs. NRGU — Risk / Return Rank

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

DIG

DIG Risk / Return Rank: 37
DIG Sharpe Ratio Rank: 38
DIG Sortino Ratio Rank: 35
DIG Omega Ratio Rank: 34
DIG Calmar Ratio Rank: 40
DIG Martin Ratio Rank: 38

NRGU

NRGU Risk / Return Rank: 33
NRGU Sharpe Ratio Rank: 31
NRGU Sortino Ratio Rank: 33
NRGU Omega Ratio Rank: 32
NRGU Calmar Ratio Rank: 39
NRGU Martin Ratio Rank: 32

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.

DIG vs. NRGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Oil & Gas (DIG) 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.

	DIG	NRGU	Difference
Sharpe ratio: Return per unit of total volatility	1.31	1.05	+0.26
Sortino ratio: Return per unit of downside risk	1.79	1.67	+0.12
Omega ratio: Gain probability vs. loss probability	1.22	1.21	+0.01
Calmar ratio: Return relative to maximum drawdown	1.92	1.87	+0.05
Martin ratio: Return relative to average drawdown	5.59	4.58	+1.01

DIG vs. NRGU - Sharpe Ratio Comparison

The current DIG Sharpe Ratio is 1.31, which is comparable to the NRGU Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of DIG 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

DIG vs. NRGU - Drawdown Comparison

The maximum DIG drawdown since its inception was -97.04%, which is greater than NRGU's maximum drawdown of -57.50%. Use the drawdown chart below to compare losses from any high point for DIG and NRGU.

Drawdown Indicators

	DIG	NRGU	Difference
Max Drawdown Largest peak-to-trough decline	-97.04%	-57.50%	-39.54%
Max Drawdown (1Y) Largest decline over 1 year	-28.23%	-42.71%	+14.48%
Max Drawdown (3Y) Largest decline over 3 years	-42.41%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-46.02%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-92.53%	—	—
Current Drawdown Current decline from peak	-57.70%	-38.33%	-19.37%
Average Drawdown Average peak-to-trough decline	-64.33%	-25.59%	-38.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.68%	17.45%	-7.77%

Volatility

DIG vs. NRGU - Volatility Comparison

The current volatility for ProShares Ultra Oil & Gas (DIG) is 14.13%, while MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a volatility of 27.38%. This indicates that DIG 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

	DIG	NRGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.13%	27.38%	-13.25%
Volatility (6M) Calculated over the trailing 6-month period	33.67%	62.59%	-28.92%
Volatility (1Y) Calculated over the trailing 1-year period	41.74%	76.53%	-34.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.53%	89.19%	-37.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.83%	89.19%	-31.36%

DIG vs. NRGU - Expense Ratio Comparison

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

Dividends

DIG vs. NRGU - Dividend Comparison

DIG's dividend yield for the trailing twelve months is around 1.72%, while NRGU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIG ProShares Ultra Oil & Gas	1.72%	2.62%	3.13%	0.61%	1.33%	2.24%	3.18%	2.72%	2.30%	1.76%	1.09%	1.56%
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%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DIG and NRGU in my portfolio?

With a correlation of 0.94, DIG and NRGU move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DIG or NRGU?

NRGU has higher volatility (27.38%) compared to DIG (14.13%). In terms of maximum drawdown, DIG dropped -97.04% vs NRGU's -57.50%.

Which ETF is better, DIG or NRGU?

On 1-year performance, NRGU leads with 79.52% vs 53.89% for DIG. Both ETFs have the same 0.95% expense ratio. On volatility, DIG has been the lower-risk option at 14.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIG or NRGU?

Over the 1-year period, NRGU has performed better with a 79.52% return vs 53.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIG or NRGU?

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

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

DIG has the higher dividend yield at 1.72%, compared with 0.00% for NRGU.

What is the main difference between DIG and NRGU?

DIG tracks Dow Jones U.S. Oil & Gas Index (200%), while NRGU tracks Solactive MicroSectors U.S. Big Oil Index (-300%). They also come from different issuers: ProShares and BMO.

Which has better risk-adjusted returns?

DIG currently has the higher Sharpe Ratio (1.31 vs 1.05), 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.