NRGD vs. NRGU

Last updated Apr 2, 2026

Compare and contrast key facts about MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD) and MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU).

NRGD and NRGU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NRGD 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. 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. Both NRGD and NRGU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

NRGD vs. NRGU - 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 MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU). The values are adjusted to include any dividend payments, if applicable.

NRGD vs. NRGU - Yearly Performance Comparison

	2026 (YTD)	2025
NRGD MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN	-65.94%	-32.37%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	139.49%	-33.00%

Returns By Period

In the year-to-date period, NRGD achieves a -65.94% return, which is significantly lower than NRGU's 139.49% return.

NRGD

• 1D: 9.97%
• 1M: -25.69%
• YTD: -65.94%
• 6M: -65.43%
• 1Y: -76.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NRGU

• 1D: -10.75%
• 1M: 24.81%
• YTD: 139.49%
• 6M: 107.68%
• 1Y: 69.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NRGD vs. NRGU - Expense Ratio Comparison

Both NRGD and NRGU have an expense ratio of 0.95%.

NRGD

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

NRGU

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

Return for Risk

NRGD vs. NRGU — 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: 1
NRGD Sortino Ratio Rank: 0
NRGD Omega Ratio Rank: 1
NRGD Calmar Ratio Rank: 1
NRGD Martin Ratio Rank: 2

NRGU

NRGU Risk / Return Rank: 45
NRGU Sharpe Ratio Rank: 40
NRGU Sortino Ratio Rank: 54
NRGU Omega Ratio Rank: 54
NRGU Calmar Ratio Rank: 47
NRGU Martin Ratio Rank: 30

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. NRGU - 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 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.

	NRGD	NRGU	Difference
Sharpe ratio Return per unit of total volatility	-0.86	0.79	-1.65
Sortino ratio Return per unit of downside risk	-1.68	1.48	-3.16
Omega ratio Gain probability vs. loss probability	0.81	1.21	-0.40
Calmar ratio Return relative to maximum drawdown	-0.86	1.29	-2.16
Martin ratio Return relative to average drawdown	-1.25	2.64	-3.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NRGD vs. NRGU - Sharpe Ratio Comparison

The current NRGD Sharpe Ratio is -0.86, which is lower than the NRGU Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of NRGD 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

	NRGD	NRGU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.86	0.79	-1.65
Sharpe Ratio (All Time) Calculated using the full available price history	-0.84	0.61	-1.45

Correlation

The correlation between NRGD and NRGU is -0.98. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

NRGD vs. NRGU - Dividend Comparison

Neither NRGD nor NRGU has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

NRGD vs. NRGU - Drawdown Comparison

The maximum NRGD drawdown since its inception was -89.38%, which is greater than NRGU's maximum drawdown of -57.50%. Use the drawdown chart below to compare losses from any high point for NRGD and NRGU.

Drawdown Indicators

	NRGD	NRGU	Difference
Max Drawdown Largest peak-to-trough decline	-89.38%	-57.50%	-31.88%
Max Drawdown (1Y) Largest decline over 1 year	-89.38%	-55.24%	-34.14%
Current Drawdown Current decline from peak	-87.49%	-17.40%	-70.09%
Average Drawdown Average peak-to-trough decline	-54.53%	-25.38%	-29.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	61.43%	27.12%	+34.31%

Volatility

NRGD vs. NRGU - Volatility Comparison

MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD) and MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) have volatilities of 22.39% and 23.31%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NRGD	NRGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.39%	23.31%	-0.92%
Volatility (6M) Calculated over the trailing 6-month period	51.08%	50.27%	+0.81%
Volatility (1Y) Calculated over the trailing 1-year period	89.30%	88.18%	+1.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	87.95%	87.12%	+0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	87.95%	87.12%	+0.83%