DUG vs. NRGD
DUG (ProShares UltraShort Oil & Gas) and NRGD (MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN) are both Leveraged Equities funds - DUG tracks the DJ Global United States (All) / Oil & Gas -IND (-200%) while NRGD tracks the Solactive MicroSectors U.S. Big Oil Index (-300%). Both are passively managed. Over the past year, DUG returned -52.73% vs -80.85% for NRGD. Their correlation of 0.94 means they have usually moved in the same direction. Both charge a 0.95% expense ratio.
Performance
DUG vs. NRGD - Performance Comparison
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Returns By Period
In the year-to-date period, DUG achieves a -47.25% return, which is significantly higher than NRGD's -76.50% return.
DUG
- 1D
- -1.85%
- 1M
- -20.41%
- 6M
- -30.77%
- YTD
- -47.25%
- 1Y
- -52.73%
- 3Y*
- -25.03%
- 5Y*
- -40.83%
- 10Y*
- -32.74%
- ALL TIME*
- -30.09%
NRGD
- 1D
- -4.00%
- 1M
- -39.03%
- 6M
- -66.80%
- YTD
- -76.50%
- 1Y
- -80.85%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -72.99%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.33M | $1.11M | $2.13M | |
| $596.57K | $512.25K | $693.52K |
DUG vs. NRGD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DUG ProShares UltraShort Oil & Gas | -47.25% | -6.52% |
NRGD MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN | -76.50% | -35.40% |
Correlation
The correlation between DUG and NRGD is 0.94, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025 | 0.94 |
The correlation between DUG and NRGD has been stable across timeframes, ranging from 0.94 to 0.94 - a consistent structural relationship.
DUG vs. NRGD - Sectors Allocation Comparison
Sectors
DUG
NRGD
Financial Services
-
Basic Materials
-
-
Communication Services
-
-
Consumer Cyclical
-
-
Consumer Defensive
-
-
Energy
-
Healthcare
-
-
Industrials
-
-
Real Estate
-
-
Technology
-
-
Utilities
-
-
Financial Services
DUG
NRGD
-
Basic Materials
DUG
-
NRGD
-
Communication Services
DUG
-
NRGD
-
Consumer Cyclical
DUG
-
NRGD
-
Consumer Defensive
DUG
-
NRGD
-
Energy
DUG
-
NRGD
Healthcare
DUG
-
NRGD
-
Industrials
DUG
-
NRGD
-
Real Estate
DUG
-
NRGD
-
Technology
DUG
-
NRGD
-
Utilities
DUG
-
NRGD
-
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Return for Risk
DUG vs. NRGD — Risk / Return Rank
DUG
NRGD
DUG vs. NRGD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Oil & Gas (DUG) 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.
| DUG | NRGD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.27 | ||
| Omega ratioGain probability vs. loss probability | 0.79 | 0.76 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | -0.98 | +0.08 |
| Martin ratioReturn relative to average drawdown | -1.43 | -1.50 | +0.07 |
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Drawdowns
DUG vs. NRGD - Drawdown Comparison
The maximum DUG drawdown since its inception was -99.92%, which is greater than NRGD's maximum drawdown of -91.37%. Use the drawdown chart below to compare losses from any high point for DUG and NRGD.
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Drawdown Indicators
| DUG | NRGD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.92% | -91.37% | -8.55% |
Max Drawdown (1Y)Largest decline over 1 year | -57.00% | -82.12% | +25.12% |
Max Drawdown (3Y)Largest decline over 3 years | -65.94% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -94.03% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.46% | — | — |
Current DrawdownCurrent decline from peak | -99.92% | -91.37% | -8.55% |
Average DrawdownAverage peak-to-trough decline | -89.04% | -61.97% | -27.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.55% | 53.39% | -17.84% |
Volatility
DUG vs. NRGD - Volatility Comparison
The current volatility for ProShares UltraShort Oil & Gas (DUG) is 12.01%, while MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD) has a volatility of 23.01%. This indicates that DUG 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
| DUG | NRGD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.01% | 23.01% | -11.00% |
Volatility (6M)Calculated over the trailing 6-month period | 33.36% | 60.45% | -27.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.16% | 76.10% | -33.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.13% | 87.89% | -36.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.79% | 87.89% | -29.10% |
DUG vs. NRGD - Expense Ratio Comparison
Both DUG and NRGD have an expense ratio of 0.95%.
Dividends
DUG vs. NRGD - Dividend Comparison
DUG's dividend yield for the trailing twelve months is around 4.54%, while NRGD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DUG ProShares UltraShort Oil & Gas | 4.54% | 3.21% | 5.66% | 4.16% | 0.28% | 0.00% | 0.10% | 0.56% | 0.29% |
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 0.94, DUG 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 (23.01%) compared to DUG (12.01%). In terms of maximum drawdown, DUG dropped -99.92% vs NRGD's -91.37%.
On 1-year performance, DUG leads with -52.73% vs -80.85% for NRGD. Both ETFs have the same 0.95% expense ratio. On volatility, DUG has been the lower-risk option at 12.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DUG has performed better with a -52.73% return vs -80.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DUG and NRGD have the same expense ratio: 0.95% per year.
DUG has the higher dividend yield at 4.54%, compared with 0.00% for NRGD.
DUG tracks DJ Global United States (All) / Oil & Gas -IND (-200%), while NRGD tracks Solactive MicroSectors U.S. Big Oil Index (-300%). They also come from different issuers: ProShares and BMO.
NRGD currently has the higher Sharpe Ratio (-1.06 vs -1.21), 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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