MSFL vs. NRGU

Last updated Apr 1, 2026

Compare and contrast key facts about GraniteShares 2x Long MSFT Daily ETF (MSFL) and MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU).

MSFL and NRGU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MSFL is an actively managed fund by GraniteShares. It was launched on Mar 15, 2024. NRGU is a passively managed fund by BMO that tracks the performance of the Solactive MicroSectors U.S. Big Oil Index (-300%). It was launched on Apr 9, 2019.

Performance

MSFL vs. NRGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long MSFT Daily ETF (MSFL) and MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU). The values are adjusted to include any dividend payments, if applicable.

MSFL vs. NRGU - Yearly Performance Comparison

	2026 (YTD)	2025
MSFL GraniteShares 2x Long MSFT Daily ETF	-43.95%	21.87%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	168.34%	-33.00%

Returns By Period

In the year-to-date period, MSFL achieves a -43.95% return, which is significantly lower than NRGU's 168.34% return.

MSFL

• 1D: 6.35%
• 1M: -12.11%
• YTD: -43.95%
• 6M: -52.20%
• 1Y: -14.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NRGU

• 1D: -5.28%
• 1M: 54.17%
• YTD: 168.34%
• 6M: 128.96%
• 1Y: 92.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSFL vs. NRGU - Expense Ratio Comparison

MSFL has a 1.15% expense ratio, which is higher than NRGU's 0.95% expense ratio.

MSFL

GraniteShares 2x Long MSFT Daily ETF

NRGU

MicroSectors U.S. Big Oil Index 3X Leveraged ETN

Return for Risk

MSFL vs. NRGU — Risk / Return Rank

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

MSFL

MSFL Risk / Return Rank: 8
MSFL Sharpe Ratio Rank: 7
MSFL Sortino Ratio Rank: 9
MSFL Omega Ratio Rank: 9
MSFL Calmar Ratio Rank: 8
MSFL Martin Ratio Rank: 7

NRGU

NRGU Risk / Return Rank: 63
NRGU Sharpe Ratio Rank: 62
NRGU Sortino Ratio Rank: 69
NRGU Omega Ratio Rank: 69
NRGU Calmar Ratio Rank: 72
NRGU Martin Ratio Rank: 41

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.

MSFL vs. NRGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MSFT Daily ETF (MSFL) 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.

	MSFL	NRGU	Difference
Sharpe ratio Return per unit of total volatility	-0.27	1.06	-1.33
Sortino ratio Return per unit of downside risk	-0.04	1.70	-1.74
Omega ratio Gain probability vs. loss probability	0.99	1.25	-0.25
Calmar ratio Return relative to maximum drawdown	-0.27	1.79	-2.06
Martin ratio Return relative to average drawdown	-0.69	3.65	-4.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSFL vs. NRGU - Sharpe Ratio Comparison

The current MSFL Sharpe Ratio is -0.27, which is lower than the NRGU Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of MSFL and NRGU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MSFL	NRGU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.27	1.06	-1.33
Sharpe Ratio (All Time) Calculated using the full available price history	-0.47	0.81	-1.28

Correlation

The correlation between MSFL and NRGU is 0.03, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

MSFL vs. NRGU - Dividend Comparison

Neither MSFL nor NRGU has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

MSFL vs. NRGU - Drawdown Comparison

The maximum MSFL drawdown since its inception was -59.39%, roughly equal to the maximum NRGU drawdown of -57.50%. Use the drawdown chart below to compare losses from any high point for MSFL and NRGU.

Drawdown Indicators

	MSFL	NRGU	Difference
Max Drawdown Largest peak-to-trough decline	-59.39%	-57.50%	-1.89%
Max Drawdown (1Y) Largest decline over 1 year	-59.39%	-55.24%	-4.15%
Current Drawdown Current decline from peak	-56.32%	-7.45%	-48.87%
Average Drawdown Average peak-to-trough decline	-19.41%	-25.41%	+6.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.60%	27.10%	-3.50%

Volatility

MSFL vs. NRGU - Volatility Comparison

The current volatility for GraniteShares 2x Long MSFT Daily ETF (MSFL) is 13.12%, while MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a volatility of 19.53%. This indicates that MSFL 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

	MSFL	NRGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.12%	19.53%	-6.41%
Volatility (6M) Calculated over the trailing 6-month period	39.15%	48.98%	-9.83%
Volatility (1Y) Calculated over the trailing 1-year period	52.83%	87.53%	-34.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.91%	86.64%	-38.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.91%	86.64%	-38.73%