FNGU vs. OILU

Last updated Jun 13, 2026

FNGU (MicroSectors FANG+ 3X Leveraged ETNs) and OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) are both exchange-traded funds - FNGU is a Leveraged Equities fund tracking the NYSE FANG+ Index (Gross Total Return) (300%), while OILU is a Leveraged Commodities fund managed by BMO. Over the past year, FNGU returned 21.24% vs 79.06% for OILU. At a correlation of -0.01, they often move in opposite directions. FNGU charges 2.60%/yr vs 0.95%/yr for OILU.

Performance

FNGU vs. OILU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG+ 3X Leveraged ETNs (FNGU) 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, FNGU achieves a 3.96% return, which is significantly lower than OILU's 80.85% return.

FNGU

• 1D: -2.52%
• 1M: -12.41%
• YTD: 3.96%
• 6M: -3.67%
• 1Y: 21.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

OILU

• 1D: 2.31%
• 1M: -5.32%
• YTD: 80.85%
• 6M: 71.72%
• 1Y: 79.06%
• 3Y*: 6.45%
• 5Y*: —
• 10Y*: —

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

FNGU vs. OILU - Yearly Performance Comparison

	2026 (YTD)	2025
FNGU MicroSectors FANG+ 3X Leveraged ETNs	3.96%	3.02%
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	80.85%	-29.03%

Correlation

The correlation between FNGU and OILU is -0.19, 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	-0.19
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	-0.01

The correlation between FNGU and OILU shifts across timeframes, from -0.19 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.

FNGU vs. OILU - Sectors Allocation Comparison

Sectors	FNGU	OILU
Technology	60.6%	-
Communication Services	29.8%	-
Consumer Cyclical	9.6%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	100.0%
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

FNGU vs. OILU — Risk / Return Rank

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

FNGU

FNGU Risk / Return Rank: 16
FNGU Sharpe Ratio Rank: 15
FNGU Sortino Ratio Rank: 19
FNGU Omega Ratio Rank: 19
FNGU Calmar Ratio Rank: 14
FNGU Martin Ratio Rank: 14

OILU

OILU Risk / Return Rank: 42
OILU Sharpe Ratio Rank: 41
OILU Sortino Ratio Rank: 38
OILU Omega Ratio Rank: 36
OILU Calmar Ratio Rank: 54
OILU Martin Ratio Rank: 40

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.

FNGU vs. OILU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+ 3X Leveraged ETNs (FNGU) 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.

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.

	FNGU	OILU	Difference
Sharpe ratio: Return per unit of total volatility	0.35	1.27	-0.92
Sortino ratio: Return per unit of downside risk	0.87	1.78	-0.91
Omega ratio: Gain probability vs. loss probability	1.11	1.22	-0.11
Calmar ratio: Return relative to maximum drawdown	0.36	2.37	-2.01
Martin ratio: Return relative to average drawdown	0.85	5.62	-4.76

FNGU vs. OILU - Sharpe Ratio Comparison

The current FNGU Sharpe Ratio is 0.35, which is lower than the OILU Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of FNGU 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.

Drawdowns

FNGU vs. OILU - Drawdown Comparison

The maximum FNGU drawdown since its inception was -61.30%, smaller than the maximum OILU drawdown of -81.00%. Use the drawdown chart below to compare losses from any high point for FNGU and OILU.

Drawdown Indicators

	FNGU	OILU	Difference
Max Drawdown Largest peak-to-trough decline	-61.30%	-81.00%	+19.70%
Max Drawdown (1Y) Largest decline over 1 year	-59.55%	-33.51%	-26.04%
Max Drawdown (3Y) Largest decline over 3 years	—	-69.09%	—
Current Drawdown Current decline from peak	-27.36%	-51.36%	+24.00%
Average Drawdown Average peak-to-trough decline	-22.25%	-50.54%	+28.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.91%	14.12%	+10.79%

Volatility

FNGU vs. OILU - Volatility Comparison

MicroSectors FANG+ 3X Leveraged ETNs (FNGU) has a higher volatility of 27.31% compared to MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) at 21.88%. This indicates that FNGU's price experiences larger fluctuations and is considered to be riskier than OILU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNGU	OILU	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.31%	21.88%	+5.43%
Volatility (6M) Calculated over the trailing 6-month period	50.15%	50.72%	-0.57%
Volatility (1Y) Calculated over the trailing 1-year period	61.43%	62.50%	-1.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	79.93%	81.07%	-1.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	79.93%	81.07%	-1.14%

FNGU vs. OILU - Expense Ratio Comparison

FNGU has a 2.60% expense ratio, which is higher than OILU's 0.95% expense ratio.

Dividends

FNGU vs. OILU - Dividend Comparison

Neither FNGU nor OILU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FNGU and OILU in my portfolio?

FNGU 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, FNGU or OILU?

FNGU has higher volatility (27.31%) compared to OILU (21.88%). In terms of maximum drawdown, FNGU dropped -61.30% vs OILU's -81.00%.

Which ETF is better, FNGU or OILU?

On 1-year performance, OILU leads with 79.06% vs 21.24% for FNGU. On fees, OILU is cheaper at 0.95% per year. On volatility, OILU has been the lower-risk option at 21.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNGU or OILU?

Over the 1-year period, OILU has performed better with a 79.06% return vs 21.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNGU or OILU?

OILU is cheaper with a 0.95% expense ratio, compared with 2.60% for FNGU.

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

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

What is the main difference between FNGU and OILU?

FNGU is categorized as Leveraged Equities, while OILU is Leveraged Commodities. They also come from different issuers: Bank of Montreal and BMO. Their fees differ too: 2.60% for FNGU and 0.95% for OILU.

Which has better risk-adjusted returns?

OILU currently has the higher Sharpe Ratio (1.27 vs 0.35), 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.