IBII vs. NRGU

Last updated Aug 5, 2026

IBII (iShares iBonds Oct 2032 Term TIPS ETF) and NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) are both exchange-traded funds - IBII is a Inflation-Protected Bonds fund tracking the ICE 2032 Maturity US Inflation-Linked Treasury Index, while NRGU is a Leveraged Equities fund tracking the Solactive MicroSectors U.S. Big Oil Index. Both are passively managed. Over the past year, IBII returned 2.15% vs 141.14% for NRGU. Their -0.10 correlation means they have often moved in opposite directions in the past. IBII charges 0.10%/yr vs 0.95%/yr for NRGU.

Performance

IBII vs. NRGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Oct 2032 Term TIPS ETF (IBII) 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, IBII achieves a 1.09% return, which is significantly lower than NRGU's 136.46% return.

IBII

• 1D: 0.12%
• 1M: -0.24%
• 6M: 0.47%
• YTD: 1.09%
• 1Y: 2.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.48%

NRGU

• 1D: -1.19%
• 1M: 39.09%
• 6M: 68.44%
• YTD: 136.46%
• 1Y: 141.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 41.52%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IBII iShares iBonds Oct 2032 Term TIPS ETF	$367.88K	$334.54K	$357.95K
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	$4.54M	$4.18M	$3.82M

IBII vs. NRGU - Yearly Performance Comparison

	2026 (YTD)	2025
IBII iShares iBonds Oct 2032 Term TIPS ETF	1.09%	6.61%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	136.46%	-30.00%

Correlation

The correlation between IBII and NRGU is -0.16, 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.	-0.16
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	-0.10

Return for Risk

IBII vs. NRGU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IBII

IBII Risk / Return Rank: 26
IBII Sharpe Ratio Rank: 25
IBII Sortino Ratio Rank: 23
IBII Omega Ratio Rank: 22
IBII Calmar Ratio Rank: 30
IBII Martin Ratio Rank: 30

NRGU

NRGU Risk / Return Rank: 64
NRGU Sharpe Ratio Rank: 71
NRGU Sortino Ratio Rank: 59
NRGU Omega Ratio Rank: 57
NRGU Calmar Ratio Rank: 80
NRGU Martin Ratio Rank: 55

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IBII vs. NRGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2032 Term TIPS ETF (IBII) 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.

	IBII	NRGU	Difference
Sharpe ratio: Return per unit of total volatility	0.65	1.84	-1.19
Sortino ratio: Return per unit of downside risk	0.95	2.26	-1.31
Omega ratio: Gain probability vs. loss probability	1.11	1.28	-0.17
Calmar ratio: Return relative to maximum drawdown	1.09	3.24	-2.15
Martin ratio: Return relative to average drawdown	2.96	7.24	-4.28

IBII vs. NRGU - Sharpe Ratio Comparison

The current IBII Sharpe Ratio is 0.65, which is lower than the NRGU Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of IBII 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

IBII vs. NRGU - Drawdown Comparison

The maximum IBII drawdown since its inception was -4.65%, smaller than the maximum NRGU drawdown of -57.50%. Use the drawdown chart below to compare losses from any high point for IBII and NRGU.

Drawdown Indicators

	IBII	NRGU	Difference
Max Drawdown Largest peak-to-trough decline	-4.65%	-57.50%	+52.85%
Max Drawdown (1Y) Largest decline over 1 year	-1.98%	-43.89%	+41.91%
Current Drawdown Current decline from peak	-1.17%	-18.45%	+17.28%
Average Drawdown Average peak-to-trough decline	-1.12%	-25.70%	+24.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.73%	19.57%	-18.84%

Volatility

IBII vs. NRGU - Volatility Comparison

The current volatility for iShares iBonds Oct 2032 Term TIPS ETF (IBII) is 0.76%, while MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a volatility of 24.66%. This indicates that IBII 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.

Volatility by Period

	IBII	NRGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.76%	24.66%	-23.90%
Volatility (6M) Calculated over the trailing 6-month period	2.57%	64.44%	-61.87%
Volatility (1Y) Calculated over the trailing 1-year period	3.32%	77.29%	-73.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.34%	88.44%	-83.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.34%	88.44%	-83.10%

IBII vs. NRGU - Expense Ratio Comparison

IBII has a 0.10% expense ratio, which is lower than NRGU's 0.95% expense ratio.

Dividends

IBII vs. NRGU - Dividend Comparison

IBII's dividend yield for the trailing twelve months is around 5.20%, while NRGU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
IBII iShares iBonds Oct 2032 Term TIPS ETF	5.20%	4.80%	4.76%	1.10%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBII and NRGU in my portfolio?

IBII and NRGU have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBII or NRGU?

NRGU has higher volatility (24.66%) compared to IBII (0.76%). In terms of maximum drawdown, IBII dropped -4.65% vs NRGU's -57.50%.

Which ETF is better, IBII or NRGU?

On 1-year performance, NRGU leads with 141.14% vs 2.15% for IBII. On fees, IBII is cheaper at 0.10% per year. On volatility, IBII has been the lower-risk option at 0.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBII or NRGU?

Over the 1-year period, NRGU has performed better with a 141.14% return vs 2.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBII or NRGU?

IBII is cheaper with a 0.10% expense ratio, compared with 0.95% for NRGU.

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

IBII has the higher dividend yield at 5.20%, compared with 0.00% for NRGU.

What is the main difference between IBII and NRGU?

IBII is categorized as Inflation-Protected Bonds, while NRGU is Leveraged Equities. IBII tracks ICE 2032 Maturity US Inflation-Linked Treasury Index, while NRGU tracks Solactive MicroSectors U.S. Big Oil Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.10% for IBII and 0.95% for NRGU.

Which has better risk-adjusted returns?

NRGU currently has the higher Sharpe Ratio (1.84 vs 0.65), 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.