IGE vs. OILU

Last updated Aug 4, 2026

IGE (iShares North American Natural Resources ETF) and OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) are both exchange-traded funds - IGE is a Energy Equities fund tracking the S&P North American Natural Resources Sector Index, while OILU is a Leveraged Equities fund tracking the Solactive MicroSectors Oil & Gas Exploration & Production Index. Both are passively managed. Over the past 3 years, IGE returned 16.00%/yr vs 0.08%/yr for OILU. Their correlation of 0.92 means they have usually moved in the same direction. IGE charges 0.39%/yr vs 0.95%/yr for OILU.

Performance

IGE vs. OILU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares North American Natural Resources ETF (IGE) 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, IGE achieves a 20.18% return, which is significantly lower than OILU's 87.02% return.

IGE

• 1D: -0.38%
• 1M: 5.82%
• 6M: 8.49%
• YTD: 20.18%
• 1Y: 37.23%
• 3Y*: 16.00%
• 5Y*: 19.32%
• 10Y*: 9.18%
• ALL TIME*: 7.92%

OILU

• 1D: -4.14%
• 1M: 32.93%
• 6M: 40.98%
• YTD: 87.02%
• 1Y: 99.31%
• 3Y*: 0.08%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.22%

*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)
IGE iShares North American Natural Resources ETF	$9.13M	$6.85M	$9.74M
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	$8.15M	$7.77M	$7.91M

IGE vs. OILU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IGE iShares North American Natural Resources ETF	20.18%	20.41%	7.55%	3.12%	33.24%	-3.32%
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	87.02%	-16.50%	-21.65%	-32.50%	151.08%	-16.79%

Correlation

The correlation between IGE and OILU is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.76
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021	0.92

The correlation between IGE and OILU shifts across timeframes, from 0.76 (1 year) to 0.92 (all time), reflecting how their relationship changes across market environments.

IGE vs. OILU - Sectors Allocation Comparison

Sectors	IGE	OILU
Energy	72.3%	100.0%
Basic Materials	23.5%	-
Consumer Cyclical	3.6%	-
Healthcare	0.2%	-
Industrials	0.1%	-
Communication Services	-	-
Consumer Defensive	-	-
Financial Services	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

IGE vs. OILU — Risk / Return Rank

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

IGE

IGE Risk / Return Rank: 84
IGE Sharpe Ratio Rank: 90
IGE Sortino Ratio Rank: 87
IGE Omega Ratio Rank: 85
IGE Calmar Ratio Rank: 84
IGE Martin Ratio Rank: 77

OILU

OILU Risk / Return Rank: 56
OILU Sharpe Ratio Rank: 65
OILU Sortino Ratio Rank: 56
OILU Omega Ratio Rank: 54
OILU Calmar Ratio Rank: 59
OILU Martin Ratio Rank: 46

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.

IGE vs. OILU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares North American Natural Resources ETF (IGE) 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.

	IGE	OILU	Difference
Sharpe ratio: Return per unit of total volatility	2.27	1.56	+0.71
Sortino ratio: Return per unit of downside risk	3.00	2.01	+0.99
Omega ratio: Gain probability vs. loss probability	1.38	1.25	+0.13
Calmar ratio: Return relative to maximum drawdown	3.24	2.15	+1.09
Martin ratio: Return relative to average drawdown	9.98	5.28	+4.70

IGE vs. OILU - Sharpe Ratio Comparison

The current IGE Sharpe Ratio is 2.27, which is higher than the OILU Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of IGE 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

IGE vs. OILU - Drawdown Comparison

The maximum IGE drawdown since its inception was -67.55%, smaller than the maximum OILU drawdown of -81.00%. Use the drawdown chart below to compare losses from any high point for IGE and OILU.

Drawdown Indicators

	IGE	OILU	Difference
Max Drawdown Largest peak-to-trough decline	-67.55%	-81.00%	+13.45%
Max Drawdown (1Y) Largest decline over 1 year	-11.54%	-46.49%	+34.95%
Max Drawdown (3Y) Largest decline over 3 years	-19.49%	-69.09%	+49.60%
Max Drawdown (5Y) Largest decline over 5 years	-25.72%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-60.57%	—	—
Current Drawdown Current decline from peak	-5.07%	-49.70%	+44.63%
Average Drawdown Average peak-to-trough decline	-18.82%	-50.69%	+31.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.74%	18.87%	-15.13%

Volatility

IGE vs. OILU - Volatility Comparison

The current volatility for iShares North American Natural Resources ETF (IGE) is 3.87%, while MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) has a volatility of 20.09%. This indicates that IGE 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

	IGE	OILU	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.87%	20.09%	-16.22%
Volatility (6M) Calculated over the trailing 6-month period	12.59%	52.12%	-39.53%
Volatility (1Y) Calculated over the trailing 1-year period	16.54%	64.31%	-47.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.22%	80.79%	-58.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.86%	80.79%	-55.93%

IGE vs. OILU - Expense Ratio Comparison

IGE has a 0.39% expense ratio, which is lower than OILU's 0.95% expense ratio.

Dividends

IGE vs. OILU - Dividend Comparison

IGE's dividend yield for the trailing twelve months is around 1.99%, while OILU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGE iShares North American Natural Resources ETF	1.99%	2.32%	2.54%	2.85%	2.96%	2.92%	3.34%	5.55%	2.68%	2.11%	1.66%	3.08%
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IGE and OILU in my portfolio?

IGE and OILU have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IGE or OILU?

OILU has higher volatility (20.09%) compared to IGE (3.87%). In terms of maximum drawdown, IGE dropped -67.55% vs OILU's -81.00%.

Which ETF is better, IGE or OILU?

On 3-year performance, IGE leads with 16.00% vs 0.08% for OILU. On fees, IGE is cheaper at 0.39% per year. On volatility, IGE has been the lower-risk option at 3.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IGE or OILU?

Over the 3-year period, IGE has performed better with a 16.00% return vs 0.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IGE or OILU?

IGE is cheaper with a 0.39% expense ratio, compared with 0.95% for OILU.

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

IGE has the higher dividend yield at 1.99%, compared with 0.00% for OILU.

What is the main difference between IGE and OILU?

IGE is categorized as Energy Equities, while OILU is Leveraged Equities. IGE tracks S&P North American Natural Resources Sector Index, while OILU tracks Solactive MicroSectors Oil & Gas Exploration & Production Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.39% for IGE and 0.95% for OILU.

Which has better risk-adjusted returns?

IGE currently has the higher Sharpe Ratio (2.27 vs 1.56), 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.