DRIP vs. NRGD
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 -37.54% vs -69.06% 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
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Returns By Period
In the year-to-date period, DRIP achieves a -40.65% return, which is significantly higher than NRGD's -62.34% return.
DRIP
- 1D
- -3.09%
- 1M
- 20.05%
- YTD
- -40.65%
- 6M
- -41.35%
- 1Y
- -37.54%
- 3Y*
- -27.03%
- 5Y*
- -38.96%
- 10Y*
- -42.00%
NRGD
- 1D
- -4.96%
- 1M
- 19.91%
- YTD
- -62.34%
- 6M
- -63.34%
- 1Y
- -69.06%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DRIP vs. NRGD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -40.65% | -4.37% |
NRGD MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN | -62.34% | -35.40% |
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 20, 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.
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Return for Risk
DRIP vs. NRGD — Risk / Return Rank
DRIP
NRGD
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.
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.
| DRIP | NRGD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.81 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 0.83 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.61 | -0.86 | +0.26 |
| Martin ratioReturn relative to average drawdown | -1.12 | -1.39 | +0.27 |
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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.
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Drawdown Indicators
| DRIP | NRGD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.95% | -89.64% | -10.31% |
Max Drawdown (1Y)Largest decline over 1 year | -62.18% | -80.03% | +17.85% |
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 DrawdownCurrent decline from peak | -99.93% | -86.17% | -13.76% |
Average DrawdownAverage peak-to-trough decline | -90.46% | -59.74% | -30.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.61% | 49.71% | -16.10% |
Volatility
DRIP vs. NRGD - Volatility Comparison
The current volatility for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) is 18.24%, while MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD) has a volatility of 24.94%. 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.
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Volatility by Period
| DRIP | NRGD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.24% | 24.94% | -6.70% |
Volatility (6M)Calculated over the trailing 6-month period | 43.95% | 59.71% | -15.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.86% | 75.46% | -18.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.37% | 88.84% | -20.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.46% | 88.84% | +7.62% |
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 3.33%, 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 | 3.33% | 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
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.
NRGD has higher volatility (24.94%) compared to DRIP (18.24%). In terms of maximum drawdown, DRIP dropped -99.95% vs NRGD's -89.64%.
On 1-year performance, DRIP leads with -37.54% vs -69.06% for NRGD. On fees, NRGD is cheaper at 0.95% per year. On volatility, DRIP has been the lower-risk option at 18.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DRIP has performed better with a -37.54% return vs -69.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NRGD is cheaper with a 0.95% expense ratio, compared with 1.07% for DRIP.
DRIP has the higher dividend yield at 3.33%, compared with 0.00% for 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.
DRIP currently has the higher Sharpe Ratio (-0.66 vs -0.92), 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.
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