NRGD vs. DRIP
NRGD (MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN) and DRIP (Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares) are both Leveraged Equities funds - NRGD tracks the Solactive MicroSectors U.S. Big Oil Index (-300%) while DRIP tracks the S&P Oil & Gas Exploration & Production Select Industry Index (-300%). Both are passively managed. Over the past year, NRGD returned -70.03% vs -40.76% for DRIP. Their correlation of 0.92 suggests significant overlap in exposure. NRGD charges 0.95%/yr vs 1.07%/yr for DRIP.
Performance
NRGD vs. DRIP - Performance Comparison
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Returns By Period
In the year-to-date period, NRGD achieves a -66.99% return, which is significantly lower than DRIP's -43.37% return.
NRGD
- 1D
- -1.51%
- 1M
- 1.97%
- 6M
- -61.58%
- YTD
- -66.99%
- 1Y
- -70.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DRIP
- 1D
- 1.41%
- 1M
- 7.28%
- 6M
- -42.02%
- YTD
- -43.37%
- 1Y
- -40.76%
- 3Y*
- -23.75%
- 5Y*
- -40.11%
- 10Y*
- -41.29%
NRGD vs. DRIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NRGD MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN | -66.99% | -35.40% |
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -43.37% | -4.37% |
Correlation
The correlation between NRGD and DRIP is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025 | 0.92 |
The correlation between NRGD and DRIP has been stable across timeframes, ranging from 0.92 to 0.92 - a consistent structural relationship.
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Return for Risk
NRGD vs. DRIP — Risk / Return Rank
NRGD
DRIP
NRGD vs. DRIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD) and Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP). 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.
| NRGD | DRIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.72 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 0.90 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | -0.67 | -0.23 |
| Martin ratioReturn relative to average drawdown | -1.41 | -1.17 | -0.24 |
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Drawdowns
NRGD vs. DRIP - Drawdown Comparison
The maximum NRGD drawdown since its inception was -89.64%, smaller than the maximum DRIP drawdown of -99.95%. Use the drawdown chart below to compare losses from any high point for NRGD and DRIP.
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Drawdown Indicators
| NRGD | DRIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.64% | -99.95% | +10.31% |
Max Drawdown (1Y)Largest decline over 1 year | -78.53% | -62.18% | -16.35% |
Max Drawdown (3Y)Largest decline over 3 years | — | -76.02% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -96.24% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.92% | — |
Current DrawdownCurrent decline from peak | -87.88% | -99.93% | +12.05% |
Average DrawdownAverage peak-to-trough decline | -60.74% | -90.50% | +29.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 49.71% | 35.33% | +14.38% |
Volatility
NRGD vs. DRIP - Volatility Comparison
MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD) has a higher volatility of 23.30% compared to Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) at 15.59%. This indicates that NRGD's price experiences larger fluctuations and is considered to be riskier than DRIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NRGD | DRIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.30% | 15.59% | +7.71% |
Volatility (6M)Calculated over the trailing 6-month period | 59.88% | 43.86% | +16.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 74.65% | 56.19% | +18.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 88.13% | 68.07% | +20.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 88.13% | 95.95% | -7.82% |
NRGD vs. DRIP - Expense Ratio Comparison
NRGD has a 0.95% expense ratio, which is lower than DRIP's 1.07% expense ratio.
Dividends
NRGD vs. DRIP - Dividend Comparison
NRGD has not paid dividends to shareholders, while DRIP's dividend yield for the trailing twelve months is around 3.14%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 3.14% | 2.86% | 4.38% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% |
NRGD MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.92, NRGD and DRIP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
NRGD has higher volatility (23.30%) compared to DRIP (15.59%). In terms of maximum drawdown, NRGD dropped -89.64% vs DRIP's -99.95%.
On 1-year performance, DRIP leads with -40.76% vs -70.03% for NRGD. On fees, NRGD is cheaper at 0.95% per year. On volatility, DRIP has been the lower-risk option at 15.59%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DRIP has performed better with a -40.76% return vs -70.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NRGD is cheaper with a 0.95% expense ratio, compared with 1.07% for DRIP.
DRIP has the higher dividend yield at 3.14%, compared with 0.00% for NRGD.
NRGD tracks Solactive MicroSectors U.S. Big Oil Index (-300%), while DRIP tracks S&P Oil & Gas Exploration & Production Select Industry Index (-300%). They also come from different issuers: BMO and Direxion. Their fees differ too: 0.95% for NRGD and 1.07% for DRIP.
DRIP currently has the higher Sharpe Ratio (-0.74 vs -0.94), 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.
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