GAVA vs. NRGU

Last updated Jun 5, 2026

GAVA (Grayscale Avalanche Staking ETF) and NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) are both exchange-traded funds - GAVA is a Cryptocurrency fund actively managed by Grayscale, while NRGU is a Leveraged Equities fund tracking the Solactive MicroSectors U.S. Big Oil Index (-300%). GAVA is actively managed, while NRGU is passively managed. At a correlation of -0.33, they often move in opposite directions. GAVA charges 0.35%/yr vs 0.95%/yr for NRGU.

Performance

GAVA vs. NRGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Avalanche Staking ETF (GAVA) 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

GAVA

• 1D: -3.30%
• 1M: -17.27%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NRGU

• 1D: -1.47%
• 1M: -6.46%
• YTD: 125.94%
• 6M: 93.16%
• 1Y: 171.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GAVA vs. NRGU - Yearly Performance Comparison

	2026 (YTD)
GAVA Grayscale Avalanche Staking ETF	-18.74%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	3.83%

Correlation

The correlation between GAVA and NRGU is -0.33, 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 (All Time) Calculated using the full available price history since Mar 13, 2026	-0.33

Return for Risk

GAVA vs. NRGU — Risk / Return Rank

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

NRGU

NRGU Risk / Return Rank: 64
NRGU Sharpe Ratio Rank: 72
NRGU Sortino Ratio Rank: 53
NRGU Omega Ratio Rank: 53
NRGU Calmar Ratio Rank: 82
NRGU Martin Ratio Rank: 61

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.

GAVA vs. NRGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Avalanche Staking ETF (GAVA) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	GAVA	NRGU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.31	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.21	0.43	-1.64

Drawdowns

GAVA vs. NRGU - Drawdown Comparison

The maximum GAVA drawdown since its inception was -24.10%, smaller than the maximum NRGU drawdown of -57.50%. Use the drawdown chart below to compare losses from any high point for GAVA and NRGU.

Drawdown Indicators

	GAVA	NRGU	Difference
Max Drawdown Largest peak-to-trough decline	-24.10%	-57.50%	+33.40%
Max Drawdown (1Y) Largest decline over 1 year	—	-39.95%	—
Current Drawdown Current decline from peak	-24.10%	-22.07%	-2.03%
Average Drawdown Average peak-to-trough decline	-9.29%	-25.41%	+16.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	16.01%	—

Volatility

Volatility by Period

	GAVA	NRGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	31.62%	—
Volatility (6M) Calculated over the trailing 6-month period	—	61.19%	—
Volatility (1Y) Calculated over the trailing 1-year period	49.58%	75.02%	-25.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.58%	89.03%	-39.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.58%	89.03%	-39.45%

GAVA vs. NRGU - Expense Ratio Comparison

GAVA has a 0.35% expense ratio, which is lower than NRGU's 0.95% expense ratio.

Dividends

GAVA vs. NRGU - Dividend Comparison

Neither GAVA nor NRGU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GAVA and NRGU in my portfolio?

GAVA and NRGU have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GAVA or NRGU?

On fees, GAVA is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GAVA or NRGU?

GAVA is cheaper with a 0.35% expense ratio, compared with 0.95% for NRGU.

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

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

What is the main difference between GAVA and NRGU?

GAVA is categorized as Cryptocurrency, while NRGU is Leveraged Equities. They also come from different issuers: Grayscale and BMO. Their fees differ too: 0.35% for GAVA and 0.95% for NRGU.