EURL vs. NRGU

Last updated Jun 3, 2026

EURL (Direxion Daily FTSE Europe Bull 3x Shares) and NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) are both Leveraged Equities funds - EURL tracks the FTSE Developed Europe Index (300%) while NRGU tracks the Solactive MicroSectors U.S. Big Oil Index (-300%). Both are passively managed. Over the past year, EURL returned 39.22% vs 164.28% for NRGU. At a correlation of -0.03, they often move in opposite directions. EURL charges 1.07%/yr vs 0.95%/yr for NRGU.

Performance

EURL vs. NRGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily FTSE Europe Bull 3x Shares (EURL) and MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EURL achieves a 12.18% return, which is significantly lower than NRGU's 123.66% return.

EURL

• 1D: 1.75%
• 1M: 4.57%
• YTD: 12.18%
• 6M: 22.12%
• 1Y: 39.22%
• 3Y*: 31.90%
• 5Y*: 6.08%
• 10Y*: 8.63%

NRGU

• 1D: 3.44%
• 1M: -3.38%
• YTD: 123.66%
• 6M: 98.58%
• 1Y: 164.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EURL vs. NRGU - Yearly Performance Comparison

	2026 (YTD)	2025
EURL Direxion Daily FTSE Europe Bull 3x Shares	12.18%	55.55%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	123.66%	-33.00%

Correlation

The correlation between EURL and NRGU is -0.15, 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	-0.15
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025	-0.03

The correlation between EURL and NRGU shifts across timeframes, from -0.15 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.

EURL vs. NRGU - Sectors Allocation Comparison

Sectors	EURL	NRGU
Financial Services	23.0%	-
Industrials	19.8%	-
Healthcare	13.2%	-
Consumer Defensive	8.2%	-
Technology	7.9%	-
Consumer Cyclical	7.2%	-
Energy	5.7%	100.0%
Basic Materials	5.5%	-
Utilities	4.8%	-
Communication Services	3.3%	-
Real Estate	1.6%	-

Return for Risk

EURL vs. NRGU — Risk / Return Rank

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

EURL

EURL Risk / Return Rank: 26
EURL Sharpe Ratio Rank: 24
EURL Sortino Ratio Rank: 26
EURL Omega Ratio Rank: 25
EURL Calmar Ratio Rank: 26
EURL Martin Ratio Rank: 28

NRGU

NRGU Risk / Return Rank: 62
NRGU Sharpe Ratio Rank: 65
NRGU Sortino Ratio Rank: 51
NRGU Omega Ratio Rank: 50
NRGU Calmar Ratio Rank: 82
NRGU Martin Ratio Rank: 60

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.

EURL vs. NRGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily FTSE Europe Bull 3x Shares (EURL) 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.

	EURL	NRGU	Difference
Sharpe ratio Return per unit of total volatility	0.85	2.20	-1.35
Sortino ratio Return per unit of downside risk	1.40	2.49	-1.08
Omega ratio Gain probability vs. loss probability	1.17	1.31	-0.14
Calmar ratio Return relative to maximum drawdown	1.29	4.31	-3.03
Martin ratio Return relative to average drawdown	4.13	10.83	-6.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EURL vs. NRGU - Sharpe Ratio Comparison

The current EURL Sharpe Ratio is 0.85, which is lower than the NRGU Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of EURL and NRGU, 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

	EURL	NRGU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.85	2.20	-1.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.04	0.42	-0.37

Drawdowns

EURL vs. NRGU - Drawdown Comparison

The maximum EURL drawdown since its inception was -84.65%, which is greater than NRGU's maximum drawdown of -57.50%. Use the drawdown chart below to compare losses from any high point for EURL and NRGU.

Drawdown Indicators

	EURL	NRGU	Difference
Max Drawdown Largest peak-to-trough decline	-84.65%	-57.50%	-27.15%
Max Drawdown (1Y) Largest decline over 1 year	-33.05%	-39.95%	+6.90%
Max Drawdown (3Y) Largest decline over 3 years	-38.81%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-75.24%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-84.65%	—	—
Current Drawdown Current decline from peak	-10.00%	-22.86%	+12.86%
Average Drawdown Average peak-to-trough decline	-36.99%	-25.43%	-11.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.29%	15.91%	-5.62%

Volatility

EURL vs. NRGU - Volatility Comparison

The current volatility for Direxion Daily FTSE Europe Bull 3x Shares (EURL) is 17.40%, while MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a volatility of 32.14%. This indicates that EURL 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.

Volatility by Period

	EURL	NRGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.40%	32.14%	-14.74%
Volatility (6M) Calculated over the trailing 6-month period	38.33%	61.37%	-23.04%
Volatility (1Y) Calculated over the trailing 1-year period	46.18%	75.17%	-28.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.23%	89.27%	-36.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.80%	89.27%	-33.47%

EURL vs. NRGU - Expense Ratio Comparison

EURL has a 1.07% expense ratio, which is higher than NRGU's 0.95% expense ratio.

Dividends

EURL vs. NRGU - Dividend Comparison

EURL's dividend yield for the trailing twelve months is around 1.39%, while NRGU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EURL Direxion Daily FTSE Europe Bull 3x Shares	1.39%	1.50%	3.51%	2.50%	1.80%	0.33%	0.41%	1.17%	3.07%	0.38%
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%	0.00%

Frequently Asked Questions

Can I hold both EURL and NRGU in my portfolio?

EURL and NRGU have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EURL or NRGU?

NRGU has higher volatility (32.14%) compared to EURL (17.40%). In terms of maximum drawdown, EURL dropped -84.65% vs NRGU's -57.50%.

Which ETF is better, EURL or NRGU?

On 1-year performance, NRGU leads with 164.28% vs 39.22% for EURL. On fees, NRGU is cheaper at 0.95% per year. On volatility, EURL has been the lower-risk option at 17.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EURL or NRGU?

Over the 1-year period, NRGU has performed better with a 164.28% return vs 39.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EURL or NRGU?

NRGU is cheaper with a 0.95% expense ratio, compared with 1.07% for EURL.

Which ETF pays a higher dividend yield, EURL or NRGU?

EURL has the higher dividend yield at 1.39%, compared with 0.00% for NRGU.

What is the main difference between EURL and NRGU?

EURL tracks FTSE Developed Europe 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 EURL and 0.95% for NRGU.

Which has better risk-adjusted returns?

NRGU currently has the higher Sharpe Ratio (2.20 vs 0.85), 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.