FNGD vs. OILU

Last updated Jun 3, 2026

FNGD (MicroSectors FANG+™ Index -3X Inverse Leveraged ETN) and OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) are both exchange-traded funds - FNGD is a Leveraged Equities fund tracking the NYSE FANG+ Index (-300%), while OILU is a Leveraged Commodities fund managed by BMO. Over the past 3 years, FNGD returned -69.63%/yr vs 9.29%/yr for OILU. At a correlation of -0.12, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

FNGD vs. OILU - 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 Oil & Gas Exploration & Production 3X Leveraged ETN (OILU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNGD achieves a -43.70% return, which is significantly lower than OILU's 89.62% return.

FNGD

• 1D: 1.51%
• 1M: -31.76%
• YTD: -43.70%
• 6M: -34.07%
• 1Y: -62.82%
• 3Y*: -69.63%
• 5Y*: -66.27%
• 10Y*: —

OILU

• 1D: 3.24%
• 1M: -10.77%
• YTD: 89.62%
• 6M: 81.13%
• 1Y: 116.30%
• 3Y*: 9.29%
• 5Y*: —
• 10Y*: —

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

FNGD vs. OILU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN	-43.70%	-61.42%	-76.57%	-90.14%	52.21%	7.89%
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	89.62%	-16.50%	-21.65%	-32.50%	151.08%	-17.87%

Correlation

The correlation between FNGD and OILU 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 (3Y) Calculated over the trailing 3-year period	0.01
Correlation (All Time) Calculated using the full available price history since Nov 10, 2021	-0.12

The correlation between FNGD and OILU shifts across timeframes, from -0.12 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.

FNGD vs. OILU - Sectors Allocation Comparison

Sectors	FNGD	OILU
Technology	59.9%	-
Communication Services	28.8%	-
Consumer Cyclical	11.3%	-
Financial Services	10.0%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	100.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

FNGD vs. OILU — Risk / Return Rank

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

FNGD

FNGD Risk / Return Rank: 1
FNGD Sharpe Ratio Rank: 1
FNGD Sortino Ratio Rank: 1
FNGD Omega Ratio Rank: 1
FNGD Calmar Ratio Rank: 1
FNGD Martin Ratio Rank: 0

OILU

OILU Risk / Return Rank: 54
OILU Sharpe Ratio Rank: 55
OILU Sortino Ratio Rank: 45
OILU Omega Ratio Rank: 43
OILU Calmar Ratio Rank: 73
OILU Martin Ratio Rank: 54

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. OILU - 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 Oil & Gas Exploration & Production 3X Leveraged ETN (OILU). 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.

	FNGD	OILU	Difference
Sharpe ratio Return per unit of total volatility	-1.07	1.88	-2.96
Sortino ratio Return per unit of downside risk	-1.88	2.26	-4.14
Omega ratio Gain probability vs. loss probability	0.79	1.28	-0.48
Calmar ratio Return relative to maximum drawdown	-0.97	3.73	-4.70
Martin ratio Return relative to average drawdown	-1.91	9.44	-11.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNGD vs. OILU - Sharpe Ratio Comparison

The current FNGD Sharpe Ratio is -1.07, which is lower than the OILU Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of FNGD and OILU, 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

	FNGD	OILU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.07	1.88	-2.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.75	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.78	0.16	-0.94

Drawdowns

FNGD vs. OILU - Drawdown Comparison

The maximum FNGD drawdown since its inception was -100.00%, which is greater than OILU's maximum drawdown of -81.00%. Use the drawdown chart below to compare losses from any high point for FNGD and OILU.

Drawdown Indicators

	FNGD	OILU	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-81.00%	-19.00%
Max Drawdown (1Y) Largest decline over 1 year	-65.92%	-33.51%	-32.41%
Max Drawdown (3Y) Largest decline over 3 years	-97.37%	-69.09%	-28.28%
Max Drawdown (5Y) Largest decline over 5 years	-99.67%	—	—
Current Drawdown Current decline from peak	-100.00%	-49.00%	-51.00%
Average Drawdown Average peak-to-trough decline	-87.24%	-50.59%	-36.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.47%	13.23%	+20.24%

Volatility

FNGD vs. OILU - Volatility Comparison

The current volatility for MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) is 16.71%, while MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) has a volatility of 25.15%. This indicates that FNGD experiences smaller price fluctuations and is considered to be less risky than OILU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNGD	OILU	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.71%	25.15%	-8.44%
Volatility (6M) Calculated over the trailing 6-month period	45.80%	49.89%	-4.09%
Volatility (1Y) Calculated over the trailing 1-year period	58.66%	62.25%	-3.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	88.79%	81.18%	+7.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.02%	81.18%	+9.84%

FNGD vs. OILU - Expense Ratio Comparison

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

Dividends

FNGD vs. OILU - Dividend Comparison

Neither FNGD nor OILU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FNGD and OILU in my portfolio?

FNGD and OILU 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 OILU?

OILU has higher volatility (25.15%) compared to FNGD (16.71%). In terms of maximum drawdown, FNGD dropped -100.00% vs OILU's -81.00%.

Which ETF is better, FNGD or OILU?

On 3-year performance, OILU leads with 9.29% vs -69.63% for FNGD. Both ETFs have the same 0.95% expense ratio. On volatility, FNGD has been the lower-risk option at 16.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNGD or OILU?

Over the 3-year period, OILU has performed better with a 9.29% return vs -69.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNGD or OILU?

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

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

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

What is the main difference between FNGD and OILU?

FNGD is categorized as Leveraged Equities, while OILU is Leveraged Commodities.

Which has better risk-adjusted returns?

OILU currently has the higher Sharpe Ratio (1.88 vs -1.07), 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.