NRGD vs. SCO
NRGD (MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN) and SCO (ProShares UltraShort Bloomberg Crude Oil) are both exchange-traded funds - NRGD is a Leveraged Equities fund tracking the Solactive MicroSectors U.S. Big Oil Index (-300%), while SCO is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index (-200%). Both are passively managed. Over the past year, NRGD returned -80.85% vs -58.66% for SCO. Their 0.71 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.95% expense ratio.
Performance
NRGD vs. SCO - Performance Comparison
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Returns By Period
In the year-to-date period, NRGD achieves a -76.50% return, which is significantly lower than SCO's -65.39% return.
NRGD
- 1D
- -4.00%
- 1M
- -39.03%
- 6M
- -66.80%
- YTD
- -76.50%
- 1Y
- -80.85%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -72.99%
SCO
- 1D
- -1.02%
- 1M
- -23.78%
- 6M
- -55.81%
- YTD
- -65.39%
- 1Y
- -58.66%
- 3Y*
- -29.81%
- 5Y*
- -39.67%
- 10Y*
- -40.39%
- ALL TIME*
- -26.09%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $596.57K | $512.25K | $693.52K | |
| $131.70M | $126.01M | $253.57M |
NRGD vs. SCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NRGD MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN | -76.50% | -35.40% |
SCO ProShares UltraShort Bloomberg Crude Oil | -65.39% | 21.12% |
Correlation
The correlation between NRGD and SCO is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.72 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025 | 0.71 |
The correlation between NRGD and SCO has been stable across timeframes, ranging from 0.71 to 0.72 - a consistent structural relationship.
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Return for Risk
NRGD vs. SCO — Risk / Return Rank
NRGD
SCO
NRGD vs. SCO - 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 ProShares UltraShort Bloomberg Crude Oil (SCO). 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 | SCO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.83 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 0.84 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | -0.78 | -0.20 |
| Martin ratioReturn relative to average drawdown | -1.50 | -1.32 | -0.17 |
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Drawdowns
NRGD vs. SCO - Drawdown Comparison
The maximum NRGD drawdown since its inception was -91.37%, smaller than the maximum SCO drawdown of -99.80%. Use the drawdown chart below to compare losses from any high point for NRGD and SCO.
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Drawdown Indicators
| NRGD | SCO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.37% | -99.80% | +8.43% |
Max Drawdown (1Y)Largest decline over 1 year | -82.12% | -72.24% | -9.88% |
Max Drawdown (3Y)Largest decline over 3 years | — | -74.64% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -94.80% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.50% | — |
Current DrawdownCurrent decline from peak | -91.37% | -99.77% | +8.40% |
Average DrawdownAverage peak-to-trough decline | -61.97% | -85.28% | +23.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 53.39% | 42.39% | +11.00% |
Volatility
NRGD vs. SCO - Volatility Comparison
MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD) and ProShares UltraShort Bloomberg Crude Oil (SCO) have volatilities of 23.01% and 23.27%, 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.
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Volatility by Period
| NRGD | SCO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.01% | 23.27% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 60.45% | 51.24% | +9.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 76.10% | 59.66% | +16.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 87.89% | 60.43% | +27.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 87.89% | 71.89% | +16.00% |
NRGD vs. SCO - Expense Ratio Comparison
Both NRGD and SCO have an expense ratio of 0.95%.
Dividends
NRGD vs. SCO - Dividend Comparison
Neither NRGD nor SCO has paid dividends to shareholders.
Frequently Asked Questions
NRGD and SCO have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCO has higher volatility (23.27%) compared to NRGD (23.01%). In terms of maximum drawdown, NRGD dropped -91.37% vs SCO's -99.80%.
On 1-year performance, SCO leads with -58.66% vs -80.85% for NRGD. Both ETFs have the same 0.95% expense ratio. On volatility, NRGD has been the lower-risk option at 23.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SCO has performed better with a -58.66% return vs -80.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NRGD and SCO have the same expense ratio: 0.95% per year.
NRGD and SCO have nearly identical dividend yields, around 0.00%.
NRGD is categorized as Leveraged Equities, while SCO is Oil & Gas. NRGD tracks Solactive MicroSectors U.S. Big Oil Index (-300%), while SCO tracks Bloomberg Commodity Balanced WTI Crude Oil Index (-200%). They also come from different issuers: BMO and ProShares.
SCO currently has the higher Sharpe Ratio (-0.94 vs -1.06), 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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