IVW vs. NRGU

Last updated Aug 6, 2026

IVW (iShares S&P 500 Growth ETF) and NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) are both exchange-traded funds - IVW is a Large Cap Growth Equities fund tracking the S&P 500 Growth 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, IVW returned 25.44% vs 116.40% for NRGU. Their -0.03 correlation means they have often moved in opposite directions in the past. IVW charges 0.18%/yr vs 0.95%/yr for NRGU.

Performance

IVW vs. NRGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P 500 Growth ETF (IVW) 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, IVW achieves a 14.79% return, which is significantly lower than NRGU's 113.43% return.

IVW

• 1D: -0.20%
• 1M: 3.00%
• 6M: 17.83%
• YTD: 14.79%
• 1Y: 25.44%
• 3Y*: 26.71%
• 5Y*: 13.88%
• 10Y*: 17.63%
• ALL TIME*: 9.00%

NRGU

• 1D: -9.74%
• 1M: 26.70%
• 6M: 38.13%
• YTD: 113.43%
• 1Y: 116.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 31.80%

*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)
IVW iShares S&P 500 Growth ETF	$188.06M	$186.35M	$298.52M
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	$4.51M	$4.31M	$3.75M

IVW vs. NRGU - Yearly Performance Comparison

	2026 (YTD)	2025
IVW iShares S&P 500 Growth ETF	14.79%	16.05%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	113.43%	-30.00%

Correlation

The correlation between IVW and NRGU is -0.22, 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.	-0.22
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	-0.03

The correlation between IVW and NRGU shifts across timeframes, from -0.22 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.

IVW vs. NRGU - Sectors Allocation Comparison

Sectors	IVW	NRGU
Technology	52.3%	-
Communication Services	15.6%	-
Financial Services	8.7%	-
Consumer Cyclical	8.6%	-
Industrials	6.4%	-
Healthcare	6.2%	-
Consumer Defensive	1.0%	-
Real Estate	0.6%	-
Utilities	0.4%	-
Basic Materials	0.3%	-
Energy	0.1%	100.0%

Return for Risk

IVW vs. NRGU — Risk / Return Rank

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

IVW

IVW Risk / Return Rank: 48
IVW Sharpe Ratio Rank: 50
IVW Sortino Ratio Rank: 49
IVW Omega Ratio Rank: 47
IVW Calmar Ratio Rank: 45
IVW Martin Ratio Rank: 51

NRGU

NRGU Risk / Return Rank: 53
NRGU Sharpe Ratio Rank: 53
NRGU Sortino Ratio Rank: 50
NRGU Omega Ratio Rank: 47
NRGU Calmar Ratio Rank: 67
NRGU 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.

IVW vs. NRGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Growth ETF (IVW) 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.

	IVW	NRGU	Difference
Sharpe ratio: Return per unit of total volatility	1.42	1.50	-0.08
Sortino ratio: Return per unit of downside risk	2.00	2.03	-0.03
Omega ratio: Gain probability vs. loss probability	1.25	1.25	0.00
Calmar ratio: Return relative to maximum drawdown	1.86	2.67	-0.81
Martin ratio: Return relative to average drawdown	6.73	5.95	+0.78

IVW vs. NRGU - Sharpe Ratio Comparison

The current IVW Sharpe Ratio is 1.42, which is comparable to the NRGU Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of IVW 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

IVW vs. NRGU - Drawdown Comparison

The maximum IVW drawdown since its inception was -57.33%, roughly equal to the maximum NRGU drawdown of -57.50%. Use the drawdown chart below to compare losses from any high point for IVW and NRGU.

Drawdown Indicators

	IVW	NRGU	Difference
Max Drawdown Largest peak-to-trough decline	-57.33%	-57.50%	+0.17%
Max Drawdown (1Y) Largest decline over 1 year	-13.75%	-43.89%	+30.14%
Max Drawdown (3Y) Largest decline over 3 years	-22.15%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.72%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-32.72%	—	—
Current Drawdown Current decline from peak	-0.20%	-26.39%	+26.19%
Average Drawdown Average peak-to-trough decline	-17.53%	-25.70%	+8.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.79%	19.64%	-15.85%

Volatility

IVW vs. NRGU - Volatility Comparison

The current volatility for iShares S&P 500 Growth ETF (IVW) is 6.54%, while MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a volatility of 26.36%. This indicates that IVW 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

	IVW	NRGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.54%	26.36%	-19.82%
Volatility (6M) Calculated over the trailing 6-month period	14.93%	64.51%	-49.58%
Volatility (1Y) Calculated over the trailing 1-year period	18.04%	77.95%	-59.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.54%	88.71%	-67.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.78%	88.71%	-67.93%

IVW vs. NRGU - Expense Ratio Comparison

IVW has a 0.18% expense ratio, which is lower than NRGU's 0.95% expense ratio.

Dividends

IVW vs. NRGU - Dividend Comparison

IVW's dividend yield for the trailing twelve months is around 0.35%, while NRGU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVW iShares S&P 500 Growth ETF	0.35%	0.40%	0.43%	1.03%	0.92%	0.46%	0.82%	1.63%	1.28%	1.30%	1.51%	1.51%
NRGU MicroSectors U.S. Big Oil Index 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 IVW and NRGU in my portfolio?

IVW and NRGU have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IVW or NRGU?

NRGU has higher volatility (26.36%) compared to IVW (6.54%). In terms of maximum drawdown, IVW dropped -57.33% vs NRGU's -57.50%.

Which ETF is better, IVW or NRGU?

On 1-year performance, NRGU leads with 116.40% vs 25.44% for IVW. On fees, IVW is cheaper at 0.18% per year. On volatility, IVW has been the lower-risk option at 6.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IVW or NRGU?

Over the 1-year period, NRGU has performed better with a 116.40% return vs 25.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IVW or NRGU?

IVW is cheaper with a 0.18% expense ratio, compared with 0.95% for NRGU.

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

IVW has the higher dividend yield at 0.35%, compared with 0.00% for NRGU.

What is the main difference between IVW and NRGU?

IVW is categorized as Large Cap Growth Equities, while NRGU is Leveraged Equities. IVW tracks S&P 500 Growth Index, while NRGU tracks Solactive MicroSectors U.S. Big Oil Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.18% for IVW and 0.95% for NRGU.

Which has better risk-adjusted returns?

NRGU currently has the higher Sharpe Ratio (1.50 vs 1.42), 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.