FLMI vs. NRGU
FLMI (Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF) and NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) are both exchange-traded funds - FLMI is a Municipal Bonds fund actively managed by Franklin Templeton, while NRGU is a Leveraged Equities fund tracking the Solactive MicroSectors U.S. Big Oil Index. FLMI is actively managed, while NRGU is passively managed. Over the past year, FLMI returned 6.00% vs 147.96% for NRGU. Their -0.25 correlation means they have often moved in opposite directions in the past. FLMI charges 0.30%/yr vs 0.95%/yr for NRGU.
Performance
FLMI vs. NRGU - Performance Comparison
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Returns By Period
In the year-to-date period, FLMI achieves a 1.16% return, which is significantly lower than NRGU's 139.31% return.
FLMI
- 1D
- 0.02%
- 1M
- -1.78%
- 6M
- 0.09%
- YTD
- 1.16%
- 1Y
- 6.00%
- 3Y*
- 5.52%
- 5Y*
- 1.64%
- 10Y*
- —
- ALL TIME*
- 2.86%
NRGU
- 1D
- -6.93%
- 1M
- 40.77%
- 6M
- 89.59%
- YTD
- 139.31%
- 1Y
- 147.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 42.79%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $15.44M | $15.09M | $18.18M | |
| $4.50M | $4.24M | $3.94M |
FLMI vs. NRGU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FLMI Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF | 1.16% | 4.87% |
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN | 139.31% | -30.00% |
Correlation
The correlation between FLMI and NRGU is -0.34, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.34 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025 | -0.25 |
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Return for Risk
FLMI vs. NRGU — Risk / Return Rank
FLMI
NRGU
FLMI vs. NRGU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI) 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.
| FLMI | NRGU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.29 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.08 | 3.39 | -1.31 |
| Martin ratioReturn relative to average drawdown | 7.06 | 7.61 | -0.54 |
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Drawdowns
FLMI vs. NRGU - Drawdown Comparison
The maximum FLMI drawdown since its inception was -14.66%, smaller than the maximum NRGU drawdown of -57.50%. Use the drawdown chart below to compare losses from any high point for FLMI and NRGU.
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Drawdown Indicators
| FLMI | NRGU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.66% | -57.50% | +42.84% |
Max Drawdown (1Y)Largest decline over 1 year | -2.90% | -43.89% | +40.99% |
Max Drawdown (3Y)Largest decline over 3 years | -4.66% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -14.60% | — | — |
Current DrawdownCurrent decline from peak | -1.78% | -17.46% | +15.68% |
Average DrawdownAverage peak-to-trough decline | -2.78% | -25.72% | +22.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 19.53% | -18.68% |
Volatility
FLMI vs. NRGU - Volatility Comparison
The current volatility for Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI) is 1.02%, while MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a volatility of 24.63%. This indicates that FLMI 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
| FLMI | NRGU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 24.63% | -23.61% |
Volatility (6M)Calculated over the trailing 6-month period | 2.29% | 64.77% | -62.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.93% | 77.42% | -74.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.45% | 88.56% | -84.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.70% | 88.56% | -83.86% |
FLMI vs. NRGU - Expense Ratio Comparison
FLMI has a 0.30% expense ratio, which is lower than NRGU's 0.95% expense ratio.
Dividends
FLMI vs. NRGU - Dividend Comparison
FLMI'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 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FLMI Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF | 3.99% | 3.89% | 4.08% | 3.71% | 3.08% | 2.22% | 2.09% | 2.71% | 2.41% | 0.34% |
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
FLMI and NRGU have a correlation of -0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NRGU has higher volatility (24.63%) compared to FLMI (1.02%). In terms of maximum drawdown, FLMI dropped -14.66% vs NRGU's -57.50%.
On 1-year performance, NRGU leads with 147.96% vs 6.00% for FLMI. On fees, FLMI is cheaper at 0.30% per year. On volatility, FLMI has been the lower-risk option at 1.02%. 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 147.96% return vs 6.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLMI is cheaper with a 0.30% expense ratio, compared with 0.95% for NRGU.
FLMI has the higher dividend yield at 3.99%, compared with 0.00% for NRGU.
FLMI is categorized as Municipal Bonds, while NRGU is Leveraged Equities. They also come from different issuers: Franklin Templeton and BMO. Their fees differ too: 0.30% for FLMI and 0.95% for NRGU.
FLMI currently has the higher Sharpe Ratio (2.06 vs 1.93), 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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