NRGD vs. MLI

Last updated Jun 23, 2026

NRGD (MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN) is Leveraged Equities fund tracking the Solactive MicroSectors U.S. Big Oil Index (-300%), while MLI (Mueller Industries, Inc.) is a stock. Over the past year, NRGD returned -69.06% vs 91.83% for MLI. At a correlation of -0.12, they often move in opposite directions.

Performance

NRGD vs. MLI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD) and Mueller Industries, Inc. (MLI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NRGD achieves a -62.34% return, which is significantly lower than MLI's 22.23% return.

NRGD

• 1D: -4.96%
• 1M: 19.91%
• YTD: -62.34%
• 6M: -63.34%
• 1Y: -69.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MLI

• 1D: 1.54%
• 1M: 4.86%
• YTD: 22.23%
• 6M: 19.55%
• 1Y: 91.83%
• 3Y*: 51.24%
• 5Y*: 47.29%
• 10Y*: 27.18%

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

NRGD vs. MLI - Yearly Performance Comparison

	2026 (YTD)	2025
NRGD MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN	-62.34%	-35.40%
MLI Mueller Industries, Inc.	22.23%	42.26%

Correlation

The correlation between NRGD and MLI is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.03
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	-0.12

The correlation between NRGD and MLI shifts across timeframes, from -0.12 (all time) to 0.03 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

NRGD vs. MLI — Risk / Return Rank

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

NRGD

NRGD Risk / Return Rank: 1
NRGD Sharpe Ratio Rank: 2
NRGD Sortino Ratio Rank: 1
NRGD Omega Ratio Rank: 2
NRGD Calmar Ratio Rank: 2
NRGD Martin Ratio Rank: 1

MLI

MLI Risk / Return Rank: 92
MLI Sharpe Ratio Rank: 96
MLI Sortino Ratio Rank: 93
MLI Omega Ratio Rank: 94
MLI Calmar Ratio Rank: 89
MLI Martin Ratio Rank: 90

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.

NRGD vs. MLI - 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 Mueller Industries, Inc. (MLI). 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	MLI	Difference
Sharpe ratio: Return per unit of total volatility	-0.92	3.08	-4.00
Sortino ratio: Return per unit of downside risk	-1.62	3.57	-5.19
Omega ratio: Gain probability vs. loss probability	0.83	1.53	-0.70
Calmar ratio: Return relative to maximum drawdown	-0.86	4.13	-5.00
Martin ratio: Return relative to average drawdown	-1.39	11.47	-12.86

NRGD vs. MLI - Sharpe Ratio Comparison

The current NRGD Sharpe Ratio is -0.92, which is lower than the MLI Sharpe Ratio of 3.08. The chart below compares the historical Sharpe Ratios of NRGD and MLI, 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

NRGD vs. MLI - Drawdown Comparison

The maximum NRGD drawdown since its inception was -89.64%, which is greater than MLI's maximum drawdown of -61.72%. Use the drawdown chart below to compare losses from any high point for NRGD and MLI.

Drawdown Indicators

	NRGD	MLI	Difference
Max Drawdown Largest peak-to-trough decline	-89.64%	-61.72%	-27.92%
Max Drawdown (1Y) Largest decline over 1 year	-80.03%	-22.33%	-57.70%
Max Drawdown (3Y) Largest decline over 3 years	—	-27.79%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.79%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-52.95%	—
Current Drawdown Current decline from peak	-86.17%	-0.68%	-85.49%
Average Drawdown Average peak-to-trough decline	-59.74%	-16.03%	-43.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	49.71%	8.03%	+41.68%

Volatility

NRGD vs. MLI - Volatility Comparison

MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD) has a higher volatility of 24.94% compared to Mueller Industries, Inc. (MLI) at 9.71%. This indicates that NRGD's price experiences larger fluctuations and is considered to be riskier than MLI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NRGD	MLI	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.94%	9.71%	+15.23%
Volatility (6M) Calculated over the trailing 6-month period	59.71%	25.79%	+33.92%
Volatility (1Y) Calculated over the trailing 1-year period	75.46%	30.01%	+45.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	88.84%	32.99%	+55.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	88.84%	35.79%	+53.05%

Dividends

NRGD vs. MLI - Dividend Comparison

NRGD has not paid dividends to shareholders, while MLI's dividend yield for the trailing twelve months is around 0.86%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MLI Mueller Industries, Inc.	0.86%	0.87%	1.01%	1.27%	1.69%	0.88%	1.14%	1.26%	1.71%	9.60%	0.94%	1.11%
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%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NRGD and MLI in my portfolio?

NRGD and MLI have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NRGD or MLI?

NRGD has higher volatility (24.94%) compared to MLI (9.71%). In terms of maximum drawdown, NRGD dropped -89.64% vs MLI's -61.72%.

Which has better risk-adjusted returns?

MLI currently has the higher Sharpe Ratio (3.08 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.