FNGD vs. NRGU

Last updated Jun 24, 2026

FNGD (MicroSectors FANG+™ Index -3X Inverse Leveraged ETN) and NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) are both Leveraged Equities funds from BMO - FNGD tracks the NYSE FANG+ Index (-300%) while NRGU tracks the Solactive MicroSectors U.S. Big Oil Index (-300%). Both are passively managed. Over the past year, FNGD returned -49.41% vs 79.52% for NRGU. At a 0.03 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

FNGD vs. NRGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) 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, FNGD achieves a -27.13% return, which is significantly lower than NRGU's 78.80% return.

FNGD

• 1D: 7.44%
• 1M: 2.40%
• YTD: -27.13%
• 6M: -23.35%
• 1Y: -49.41%
• 3Y*: -65.49%
• 5Y*: -62.47%
• 10Y*: —

NRGU

• 1D: 1.89%
• 1M: -21.00%
• YTD: 78.80%
• 6M: 80.03%
• 1Y: 79.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FNGD vs. NRGU - Yearly Performance Comparison

	2026 (YTD)	2025
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN	-27.13%	-52.69%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	78.80%	-30.00%

Correlation

The correlation between FNGD and NRGU is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.03

The correlation between FNGD and NRGU shifts across timeframes, from 0.03 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.

FNGD vs. NRGU - Sectors Allocation Comparison

Sectors	FNGD	NRGU
Technology	63.4%	-
Communication Services	26.0%	-
Consumer Cyclical	10.6%	-
Financial Services	10.0%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	100.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

FNGD vs. NRGU — Risk / Return Rank

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

FNGD

FNGD Risk / Return Rank: 3
FNGD Sharpe Ratio Rank: 3
FNGD Sortino Ratio Rank: 3
FNGD Omega Ratio Rank: 3
FNGD Calmar Ratio Rank: 3
FNGD Martin Ratio Rank: 1

NRGU

NRGU Risk / Return Rank: 33
NRGU Sharpe Ratio Rank: 31
NRGU Sortino Ratio Rank: 33
NRGU Omega Ratio Rank: 32
NRGU Calmar Ratio Rank: 39
NRGU Martin Ratio Rank: 32

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.

FNGD vs. NRGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) 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.

	FNGD	NRGU	Difference
Sharpe ratio: Return per unit of total volatility	-0.76	1.05	-1.81
Sortino ratio: Return per unit of downside risk	-1.00	1.67	-2.67
Omega ratio: Gain probability vs. loss probability	0.89	1.21	-0.32
Calmar ratio: Return relative to maximum drawdown	-0.75	1.87	-2.62
Martin ratio: Return relative to average drawdown	-1.52	4.58	-6.10

FNGD vs. NRGU - Sharpe Ratio Comparison

The current FNGD Sharpe Ratio is -0.76, which is lower than the NRGU Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of FNGD 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.

Drawdowns

FNGD vs. NRGU - Drawdown Comparison

The maximum FNGD drawdown since its inception was -100.00%, which is greater than NRGU's maximum drawdown of -57.50%. Use the drawdown chart below to compare losses from any high point for FNGD and NRGU.

Drawdown Indicators

	FNGD	NRGU	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-57.50%	-42.50%
Max Drawdown (1Y) Largest decline over 1 year	-65.92%	-42.71%	-23.21%
Max Drawdown (3Y) Largest decline over 3 years	-97.35%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-99.67%	—	—
Current Drawdown Current decline from peak	-100.00%	-38.33%	-61.67%
Average Drawdown Average peak-to-trough decline	-87.30%	-25.59%	-61.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.15%	17.45%	+16.70%

Volatility

FNGD vs. NRGU - Volatility Comparison

MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) has a higher volatility of 33.07% compared to MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) at 27.38%. This indicates that FNGD's price experiences larger fluctuations and is considered to be riskier than NRGU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNGD	NRGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.07%	27.38%	+5.69%
Volatility (6M) Calculated over the trailing 6-month period	53.22%	62.59%	-9.37%
Volatility (1Y) Calculated over the trailing 1-year period	65.50%	76.53%	-11.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.67%	89.19%	+0.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.30%	89.19%	+2.11%

FNGD vs. NRGU - Expense Ratio Comparison

Both FNGD and NRGU have an expense ratio of 0.95%.

Dividends

FNGD vs. NRGU - Dividend Comparison

Neither FNGD nor NRGU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FNGD and NRGU in my portfolio?

FNGD and NRGU have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNGD or NRGU?

FNGD has higher volatility (33.07%) compared to NRGU (27.38%). In terms of maximum drawdown, FNGD dropped -100.00% vs NRGU's -57.50%.

Which ETF is better, FNGD or NRGU?

On 1-year performance, NRGU leads with 79.52% vs -49.41% for FNGD. Both ETFs have the same 0.95% expense ratio. On volatility, NRGU has been the lower-risk option at 27.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNGD or NRGU?

Over the 1-year period, NRGU has performed better with a 79.52% return vs -49.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNGD or NRGU?

FNGD and NRGU have the same expense ratio: 0.95% per year.

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

FNGD and NRGU have nearly identical dividend yields, around 0.00%.

What is the main difference between FNGD and NRGU?

FNGD tracks NYSE FANG+ Index (-300%), while NRGU tracks Solactive MicroSectors U.S. Big Oil Index (-300%).

Which has better risk-adjusted returns?

NRGU currently has the higher Sharpe Ratio (1.05 vs -0.76), 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.