DRIP vs. NRGU
DRIP (Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares) and NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) are both Leveraged Equities funds - DRIP tracks the S&P Oil & Gas Exploration & Production Select Industry Index (-300%) while NRGU tracks the Solactive MicroSectors U.S. Big Oil Index (-300%). Both are passively managed. Over the past year, DRIP returned -56.10% vs 156.99% for NRGU. At a correlation of -0.92, they often move in opposite directions. DRIP charges 1.07%/yr vs 0.95%/yr for NRGU.
Performance
DRIP vs. NRGU - Performance Comparison
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Returns By Period
In the year-to-date period, DRIP achieves a -50.45% return, which is significantly lower than NRGU's 129.31% return.
DRIP
- 1D
- -3.05%
- 1M
- 9.61%
- YTD
- -50.45%
- 6M
- -43.03%
- 1Y
- -56.10%
- 3Y*
- -30.92%
- 5Y*
- -41.62%
- 10Y*
- -42.95%
NRGU
- 1D
- 2.53%
- 1M
- -6.67%
- YTD
- 129.31%
- 6M
- 97.01%
- 1Y
- 156.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DRIP vs. NRGU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -50.45% | -4.57% |
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN | 129.31% | -33.00% |
Correlation
The correlation between DRIP and NRGU is -0.92, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| 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 NRGU 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. NRGU — Risk / Return Rank
DRIP
NRGU
DRIP vs. NRGU - 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 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.
| DRIP | NRGU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.12 | ||
| Sortino ratioReturn per unit of downside risk | -4.14 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.30 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | 3.95 | -4.84 |
| Martin ratioReturn relative to average drawdown | -1.64 | 9.88 | -11.53 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DRIP | NRGU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.01 | 2.11 | -3.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.61 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.45 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.42 | 0.45 | -0.87 |
Drawdowns
DRIP vs. NRGU - Drawdown Comparison
The maximum DRIP drawdown since its inception was -99.95%, which is greater than NRGU's maximum drawdown of -57.50%. Use the drawdown chart below to compare losses from any high point for DRIP and NRGU.
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Drawdown Indicators
| DRIP | NRGU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.95% | -57.50% | -42.45% |
Max Drawdown (1Y)Largest decline over 1 year | -63.84% | -39.95% | -23.89% |
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 | -99.94% | -20.91% | -79.03% |
Average DrawdownAverage peak-to-trough decline | -90.45% | -25.42% | -65.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.12% | 15.96% | +18.16% |
Volatility
DRIP vs. NRGU - Volatility Comparison
The current volatility for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) is 19.66%, while MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a volatility of 31.63%. This indicates that DRIP 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.
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Volatility by Period
| DRIP | NRGU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.66% | 31.63% | -11.97% |
Volatility (6M)Calculated over the trailing 6-month period | 43.05% | 61.27% | -18.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.64% | 75.15% | -19.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.36% | 89.15% | -20.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.59% | 89.15% | +7.44% |
DRIP vs. NRGU - Expense Ratio Comparison
DRIP has a 1.07% expense ratio, which is higher than NRGU's 0.95% expense ratio.
Dividends
DRIP vs. NRGU - Dividend Comparison
DRIP's dividend yield for the trailing twelve months is around 3.99%, while NRGU 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 | 3.99% | 2.86% | 4.38% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% |
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% |
Frequently Asked Questions
DRIP and NRGU have a correlation of -0.92, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NRGU has higher volatility (31.63%) compared to DRIP (19.66%). In terms of maximum drawdown, DRIP dropped -99.95% vs NRGU's -57.50%.
On 1-year performance, NRGU leads with 156.99% vs -56.10% for DRIP. On fees, NRGU is cheaper at 0.95% per year. On volatility, DRIP has been the lower-risk option at 19.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, NRGU has performed better with a 156.99% return vs -56.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NRGU is cheaper with a 0.95% expense ratio, compared with 1.07% for DRIP.
DRIP has the higher dividend yield at 3.99%, compared with 0.00% for NRGU.
DRIP tracks S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while NRGU 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 NRGU.
NRGU currently has the higher Sharpe Ratio (2.11 vs -1.01), 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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