DRIP vs. NRGD

Last updated Jun 3, 2026

DRIP (Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares) and NRGD (MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN) are both Leveraged Equities funds - DRIP tracks the S&P Oil & Gas Exploration & Production Select Industry Index (-300%) while NRGD tracks the Solactive MicroSectors U.S. Big Oil Index (-300%). Both are passively managed. Over the past year, DRIP returned -56.60% vs -80.92% for NRGD. Their correlation of 0.92 suggests significant overlap in exposure. DRIP charges 1.07%/yr vs 0.95%/yr for NRGD.

Performance

DRIP vs. NRGD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) and MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DRIP achieves a -48.89% return, which is significantly higher than NRGD's -68.97% return.

DRIP

• 1D: -0.86%
• 1M: 7.49%
• YTD: -48.89%
• 6M: -44.21%
• 1Y: -56.60%
• 3Y*: -30.20%
• 5Y*: -41.26%
• 10Y*: -42.77%

NRGD

• 1D: -3.71%
• 1M: -4.47%
• YTD: -68.97%
• 6M: -66.48%
• 1Y: -80.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DRIP vs. NRGD - Yearly Performance Comparison

	2026 (YTD)	2025
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares	-48.89%	-4.57%
NRGD MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN	-68.97%	-32.37%

Correlation

The correlation between DRIP and NRGD is 0.92, 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	0.92
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025	0.92

The correlation between DRIP and NRGD has been stable across timeframes, ranging from 0.92 to 0.92 - a consistent structural relationship.

Return for Risk

DRIP vs. NRGD — Risk / Return Rank

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

DRIP

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

NRGD

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

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.

DRIP vs. NRGD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) and MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD). 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.

	DRIP	NRGD	Difference
Sharpe ratio Return per unit of total volatility	-1.02	-1.09	+0.07
Sortino ratio Return per unit of downside risk	-1.73	-2.47	+0.74
Omega ratio Gain probability vs. loss probability	0.82	0.74	+0.08
Calmar ratio Return relative to maximum drawdown	-0.90	-0.98	+0.08
Martin ratio Return relative to average drawdown	-1.70	-1.55	-0.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DRIP vs. NRGD - Sharpe Ratio Comparison

The current DRIP Sharpe Ratio is -1.02, which is comparable to the NRGD Sharpe Ratio of -1.09. The chart below compares the historical Sharpe Ratios of DRIP and NRGD, 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

	DRIP	NRGD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.02	-1.09	+0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.61	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.44	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.42	-0.80	+0.38

Drawdowns

DRIP vs. NRGD - Drawdown Comparison

The maximum DRIP drawdown since its inception was -99.95%, which is greater than NRGD's maximum drawdown of -89.64%. Use the drawdown chart below to compare losses from any high point for DRIP and NRGD.

Drawdown Indicators

	DRIP	NRGD	Difference
Max Drawdown Largest peak-to-trough decline	-99.95%	-89.64%	-10.31%
Max Drawdown (1Y) Largest decline over 1 year	-63.84%	-82.88%	+19.04%
Max Drawdown (3Y) Largest decline over 3 years	-76.02%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-96.24%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-99.92%	—	—
Current Drawdown Current decline from peak	-99.94%	-88.61%	-11.33%
Average Drawdown Average peak-to-trough decline	-90.45%	-58.79%	-31.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.93%	52.62%	-18.69%

Volatility

DRIP vs. NRGD - Volatility Comparison

The current volatility for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) is 20.12%, while MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD) has a volatility of 28.97%. This indicates that DRIP experiences smaller price fluctuations and is considered to be less risky than NRGD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DRIP	NRGD	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.12%	28.97%	-8.85%
Volatility (6M) Calculated over the trailing 6-month period	42.98%	58.43%	-15.45%
Volatility (1Y) Calculated over the trailing 1-year period	55.62%	74.12%	-18.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.35%	88.84%	-20.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	96.61%	88.84%	+7.77%

DRIP vs. NRGD - Expense Ratio Comparison

DRIP has a 1.07% expense ratio, which is higher than NRGD's 0.95% expense ratio.

Dividends

DRIP vs. NRGD - Dividend Comparison

DRIP's dividend yield for the trailing twelve months is around 3.86%, while NRGD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares	3.86%	2.86%	4.38%	5.09%	0.00%	0.00%	0.01%	0.96%	0.58%
NRGD MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN	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 DRIP and NRGD in my portfolio?

With a correlation of 0.92, DRIP and NRGD 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, DRIP or NRGD?

NRGD has higher volatility (28.97%) compared to DRIP (20.12%). In terms of maximum drawdown, DRIP dropped -99.95% vs NRGD's -89.64%.

Which ETF is better, DRIP or NRGD?

On 1-year performance, DRIP leads with -56.60% vs -80.92% for NRGD. On fees, NRGD is cheaper at 0.95% per year. On volatility, DRIP has been the lower-risk option at 20.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DRIP or NRGD?

Over the 1-year period, DRIP has performed better with a -56.60% return vs -80.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DRIP or NRGD?

NRGD is cheaper with a 0.95% expense ratio, compared with 1.07% for DRIP.

Which ETF pays a higher dividend yield, DRIP or NRGD?

DRIP has the higher dividend yield at 3.86%, compared with 0.00% for NRGD.

What is the main difference between DRIP and NRGD?

DRIP tracks S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while NRGD tracks Solactive MicroSectors U.S. Big Oil Index (-300%). They also come from different issuers: Direxion and BMO. Their fees differ too: 1.07% for DRIP and 0.95% for NRGD.

Which has better risk-adjusted returns?

DRIP currently has the higher Sharpe Ratio (-1.02 vs -1.09), 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.