NRGU vs. BMNG

Last updated Jun 6, 2026

NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) and BMNG (Leverage Shares 2X Long BMNR Daily ETF) are both Leveraged Equities funds. NRGU is passively managed, while BMNG is actively managed. At a 0.08 correlation, their price movements are largely independent. NRGU charges 0.95%/yr vs 0.75%/yr for BMNG.

Performance

NRGU vs. BMNG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) and Leverage Shares 2X Long BMNR Daily ETF (BMNG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NRGU achieves a 111.49% return, which is significantly higher than BMNG's -78.43% return.

NRGU

• 1D: -6.40%
• 1M: 4.99%
• YTD: 111.49%
• 6M: 82.61%
• 1Y: 156.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BMNG

• 1D: -22.44%
• 1M: -55.66%
• YTD: -78.43%
• 6M: -87.34%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NRGU vs. BMNG - Yearly Performance Comparison

	2026 (YTD)	2025
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	111.49%	-7.06%
BMNG Leverage Shares 2X Long BMNR Daily ETF	-78.43%	-81.37%

Correlation

The correlation between NRGU and BMNG is 0.08, 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 (All Time) Calculated using the full available price history since Oct 28, 2025	0.08

Return for Risk

NRGU vs. BMNG — Risk / Return Rank

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

NRGU

NRGU Risk / Return Rank: 61
NRGU Sharpe Ratio Rank: 65
NRGU Sortino Ratio Rank: 52
NRGU Omega Ratio Rank: 51
NRGU Calmar Ratio Rank: 79
NRGU Martin Ratio Rank: 57

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.

NRGU vs. BMNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) and Leverage Shares 2X Long BMNR Daily ETF (BMNG). 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.

	NRGU	BMNG	Difference
Sharpe ratio: Return per unit of total volatility	2.10	—	—
Sortino ratio: Return per unit of downside risk	2.43	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	3.94	—	—
Martin ratio: Return relative to average drawdown	9.76	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	NRGU	BMNG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.10	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	-0.52	+0.87

Drawdowns

NRGU vs. BMNG - Drawdown Comparison

The maximum NRGU drawdown since its inception was -57.50%, smaller than the maximum BMNG drawdown of -95.98%. Use the drawdown chart below to compare losses from any high point for NRGU and BMNG.

Drawdown Indicators

	NRGU	BMNG	Difference
Max Drawdown Largest peak-to-trough decline	-57.50%	-95.98%	+38.48%
Max Drawdown (1Y) Largest decline over 1 year	-39.95%	—	—
Current Drawdown Current decline from peak	-27.06%	-95.98%	+68.92%
Average Drawdown Average peak-to-trough decline	-25.41%	-81.57%	+56.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.10%	—	—

Volatility

Volatility by Period

	NRGU	BMNG	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.47%	—	—
Volatility (6M) Calculated over the trailing 6-month period	61.54%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	75.00%	193.00%	-118.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.08%	193.00%	-103.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.08%	193.00%	-103.92%

NRGU vs. BMNG - Expense Ratio Comparison

NRGU has a 0.95% expense ratio, which is higher than BMNG's 0.75% expense ratio.

Dividends

NRGU vs. BMNG - Dividend Comparison

Neither NRGU nor BMNG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both NRGU and BMNG in my portfolio?

NRGU and BMNG have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NRGU or BMNG?

On fees, BMNG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NRGU or BMNG?

BMNG is cheaper with a 0.75% expense ratio, compared with 0.95% for NRGU.

Which ETF pays a higher dividend yield, NRGU or BMNG?

NRGU and BMNG have nearly identical dividend yields, around 0.00%.

What is the main difference between NRGU and BMNG?

They also come from different issuers: BMO and Leverage Shares. Their fees differ too: 0.95% for NRGU and 0.75% for BMNG.