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 -69.06% vs -37.54% 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 -62.34% return, which is significantly lower than DRIP's -40.65% return.
NRGD
- 1D
- -4.96%
- 1M
- 19.91%
- YTD
- -62.34%
- 6M
- -63.34%
- 1Y
- -69.06%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DRIP
- 1D
- -3.09%
- 1M
- 20.05%
- YTD
- -40.65%
- 6M
- -41.35%
- 1Y
- -37.54%
- 3Y*
- -27.03%
- 5Y*
- -38.96%
- 10Y*
- -42.00%
NRGD vs. DRIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NRGD MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN | -62.34% | -35.40% |
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -40.65% | -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 | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.81 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.92 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | -0.61 | -0.26 |
| Martin ratioReturn relative to average drawdown | -1.39 | -1.12 | -0.27 |
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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 | -80.03% | -62.18% | -17.85% |
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 | -86.17% | -99.93% | +13.76% |
Average DrawdownAverage peak-to-trough decline | -59.74% | -90.46% | +30.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 49.71% | 33.61% | +16.10% |
Volatility
NRGD vs. DRIP - Volatility Comparison
MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD) has a higher volatility of 24.94% compared to Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) at 18.24%. 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 | 24.94% | 18.24% | +6.70% |
Volatility (6M)Calculated over the trailing 6-month period | 59.71% | 43.95% | +15.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.46% | 56.86% | +18.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 88.84% | 68.37% | +20.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 88.84% | 96.46% | -7.62% |
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 3.33%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 3.33% | 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 (24.94%) compared to DRIP (18.24%). In terms of maximum drawdown, NRGD dropped -89.64% vs DRIP's -99.95%.
On 1-year performance, DRIP leads with -37.54% vs -69.06% for NRGD. On fees, NRGD is cheaper at 0.95% per year. On volatility, DRIP has been the lower-risk option at 18.24%. 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 -37.54% return vs -69.06%. 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 3.33%, 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 (-0.66 vs -0.92), 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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