NRGD vs. OILU

Last updated Aug 4, 2026

NRGD (MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN) and OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) are both Leveraged Equities funds from BMO - NRGD tracks the Solactive MicroSectors U.S. Big Oil Index (-300%) while OILU tracks the Solactive MicroSectors Oil & Gas Exploration & Production Index. Both are passively managed. Over the past year, NRGD returned -79.81% vs 99.31% for OILU. Their -0.94 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.

Performance

NRGD vs. OILU - 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 Oil & Gas Exploration & Production 3X Leveraged ETN (OILU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NRGD achieves a -75.22% return, which is significantly lower than OILU's 87.02% return.

NRGD

• 1D: 5.43%
• 1M: -35.72%
• 6M: -66.58%
• YTD: -75.22%
• 1Y: -79.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -71.78%

OILU

• 1D: -4.14%
• 1M: 32.93%
• 6M: 40.98%
• YTD: 87.02%
• 1Y: 99.31%
• 3Y*: 0.08%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.22%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NRGD MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN	$625.37K	$556.49K	$704.40K
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	$8.15M	$7.77M	$7.91M

NRGD vs. OILU - Yearly Performance Comparison

	2026 (YTD)	2025
NRGD MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN	-75.22%	-35.40%
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	87.02%	-29.03%

Correlation

The correlation between NRGD and OILU is -0.94, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.94
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	-0.94

The correlation between NRGD and OILU has been stable across timeframes, ranging from -0.94 to -0.94 - a consistent structural relationship.

NRGD vs. OILU - Sectors Allocation Comparison

Sectors	NRGD	OILU
Energy	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

NRGD vs. OILU — Risk / Return Rank

Compare historical risk-adjusted metric ranks 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: 0
NRGD Calmar Ratio Rank: 1
NRGD Martin Ratio Rank: 1

OILU

OILU Risk / Return Rank: 56
OILU Sharpe Ratio Rank: 65
OILU Sortino Ratio Rank: 56
OILU Omega Ratio Rank: 54
OILU Calmar Ratio Rank: 59
OILU Martin Ratio Rank: 46

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NRGD vs. OILU - 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 Oil & Gas Exploration & Production 3X Leveraged ETN (OILU). 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	OILU	Difference
Sharpe ratio: Return per unit of total volatility	-1.05	1.56	-2.61
Sortino ratio: Return per unit of downside risk	-2.30	2.01	-4.31
Omega ratio: Gain probability vs. loss probability	0.76	1.25	-0.49
Calmar ratio: Return relative to maximum drawdown	-0.97	2.15	-3.12
Martin ratio: Return relative to average drawdown	-1.49	5.28	-6.77

NRGD vs. OILU - Sharpe Ratio Comparison

The current NRGD Sharpe Ratio is -1.05, which is lower than the OILU Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of NRGD and OILU, 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. OILU - Drawdown Comparison

The maximum NRGD drawdown since its inception was -91.37%, which is greater than OILU's maximum drawdown of -81.00%. Use the drawdown chart below to compare losses from any high point for NRGD and OILU.

Drawdown Indicators

	NRGD	OILU	Difference
Max Drawdown Largest peak-to-trough decline	-91.37%	-81.00%	-10.37%
Max Drawdown (1Y) Largest decline over 1 year	-82.12%	-46.49%	-35.63%
Max Drawdown (3Y) Largest decline over 3 years	—	-69.09%	—
Current Drawdown Current decline from peak	-90.90%	-49.70%	-41.20%
Average Drawdown Average peak-to-trough decline	-62.05%	-50.69%	-11.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	53.63%	18.87%	+34.76%

Volatility

NRGD vs. OILU - Volatility Comparison

MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD) has a higher volatility of 24.28% compared to MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) at 20.09%. This indicates that NRGD's price experiences larger fluctuations and is considered to be riskier than OILU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NRGD	OILU	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.28%	20.09%	+4.19%
Volatility (6M) Calculated over the trailing 6-month period	60.77%	52.12%	+8.65%
Volatility (1Y) Calculated over the trailing 1-year period	76.09%	64.31%	+11.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	87.90%	80.79%	+7.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	87.90%	80.79%	+7.11%

NRGD vs. OILU - Expense Ratio Comparison

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

Dividends

NRGD vs. OILU - Dividend Comparison

Neither NRGD nor OILU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both NRGD and OILU in my portfolio?

NRGD and OILU have a correlation of -0.94, 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 OILU?

NRGD has higher volatility (24.28%) compared to OILU (20.09%). In terms of maximum drawdown, NRGD dropped -91.37% vs OILU's -81.00%.

Which ETF is better, NRGD or OILU?

On 1-year performance, OILU leads with 99.31% vs -79.81% for NRGD. Both ETFs have the same 0.95% expense ratio. On volatility, OILU has been the lower-risk option at 20.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NRGD or OILU?

Over the 1-year period, OILU has performed better with a 99.31% return vs -79.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NRGD or OILU?

NRGD and OILU have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, NRGD or OILU?

NRGD and OILU have nearly identical dividend yields, around 0.00%.

What is the main difference between NRGD and OILU?

NRGD tracks Solactive MicroSectors U.S. Big Oil Index (-300%), while OILU tracks Solactive MicroSectors Oil & Gas Exploration & Production Index.

Which has better risk-adjusted returns?

OILU currently has the higher Sharpe Ratio (1.56 vs -1.05), 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.