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 -47.19% vs 100.94% 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 -48.42% return, which is significantly lower than NRGU's 119.09% return.
DRIP
- 1D
- -0.65%
- 1M
- -2.28%
- 6M
- -45.20%
- YTD
- -48.42%
- 1Y
- -47.19%
- 3Y*
- -27.53%
- 5Y*
- -43.20%
- 10Y*
- -42.30%
NRGU
- 1D
- 0.89%
- 1M
- 4.30%
- 6M
- 91.32%
- YTD
- 119.09%
- 1Y
- 100.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DRIP vs. NRGU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -48.42% | -4.37% |
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN | 119.09% | -30.00% |
Correlation
The correlation between DRIP and NRGU is -0.93, 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 | -0.93 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025 | -0.92 |
The correlation between DRIP and NRGU has been stable across timeframes, ranging from -0.93 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.
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 | NRGU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.15 | ||
| Sortino ratioReturn per unit of downside risk | -3.12 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.24 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.76 | 2.31 | -3.07 |
| Martin ratioReturn relative to average drawdown | -1.32 | 5.22 | -6.55 |
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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 | -62.18% | -43.89% | -18.29% |
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% | -24.44% | -75.50% |
Average DrawdownAverage peak-to-trough decline | -90.51% | -26.06% | -64.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.66% | 19.42% | +16.24% |
Volatility
DRIP vs. NRGU - Volatility Comparison
The current volatility for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) is 16.32%, while MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a volatility of 26.67%. 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 | 16.32% | 26.67% | -10.35% |
Volatility (6M)Calculated over the trailing 6-month period | 44.01% | 63.86% | -19.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.73% | 77.15% | -20.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.02% | 89.19% | -21.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.90% | 89.19% | +6.71% |
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 3.44%, 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 | 3.44% | 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 -0.93, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NRGU has higher volatility (26.67%) compared to DRIP (16.32%). In terms of maximum drawdown, DRIP dropped -99.95% vs NRGU's -57.50%.
On 1-year performance, NRGU leads with 100.94% vs -47.19% for DRIP. On fees, NRGU is cheaper at 0.95% per year. On volatility, DRIP has been the lower-risk option at 16.32%. 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 100.94% return vs -47.19%. 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 3.44%, 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 (1.32 vs -0.83), 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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