NRGU vs. BNKU

Last updated Jul 22, 2026

NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) and BNKU (MicroSectors U.S. Big Banks Index 3X Leveraged ETNs) are both Leveraged Equities funds - NRGU tracks the Solactive MicroSectors U.S. Big Oil Index (-300%) while BNKU tracks the Solactive MicroSectors U.S. Big Banks Index (-300%). Both are passively managed. Over the past year, NRGU returned 143.73% vs 89.64% for BNKU. At a 0.13 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

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

Returns By Period

In the year-to-date period, NRGU achieves a 147.63% return, which is significantly higher than BNKU's 31.16% return.

NRGU

• 1D: 4.67%
• 1M: 49.07%
• 6M: 118.31%
• YTD: 147.63%
• 1Y: 143.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 47.61%

BNKU

• 1D: 3.44%
• 1M: 12.79%
• 6M: 32.85%
• YTD: 31.16%
• 1Y: 89.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 49.82%

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

NRGU vs. BNKU - Yearly Performance Comparison

	2026 (YTD)	2025
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	147.63%	-30.00%
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	31.16%	34.97%

Correlation

The correlation between NRGU and BNKU is 0.01, 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	0.02
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.13

The correlation between NRGU and BNKU shifts across timeframes, from 0.01 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.

NRGU vs. BNKU - Sectors Allocation Comparison

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

Return for Risk

NRGU vs. BNKU — Risk / Return Rank

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

NRGU

NRGU Risk / Return Rank: 69
NRGU Sharpe Ratio Rank: 79
NRGU Sortino Ratio Rank: 66
NRGU Omega Ratio Rank: 63
NRGU Calmar Ratio Rank: 83
NRGU Martin Ratio Rank: 57

BNKU

BNKU Risk / Return Rank: 55
BNKU Sharpe Ratio Rank: 62
BNKU Sortino Ratio Rank: 54
BNKU Omega Ratio Rank: 54
BNKU Calmar Ratio Rank: 58
BNKU Martin Ratio Rank: 47

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. BNKU - 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 MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU). 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.

	NRGU	BNKU	Difference
Sharpe ratio: Return per unit of total volatility	1.88	1.53	+0.34
Sortino ratio: Return per unit of downside risk	2.29	2.01	+0.28
Omega ratio: Gain probability vs. loss probability	1.29	1.26	+0.03
Calmar ratio: Return relative to maximum drawdown	3.29	2.20	+1.09
Martin ratio: Return relative to average drawdown	7.35	5.78	+1.58

NRGU vs. BNKU - Sharpe Ratio Comparison

The current NRGU Sharpe Ratio is 1.88, which is comparable to the BNKU Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of NRGU and BNKU, 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

NRGU vs. BNKU - Drawdown Comparison

The maximum NRGU drawdown since its inception was -57.50%, smaller than the maximum BNKU drawdown of -61.21%. Use the drawdown chart below to compare losses from any high point for NRGU and BNKU.

Drawdown Indicators

	NRGU	BNKU	Difference
Max Drawdown Largest peak-to-trough decline	-57.50%	-61.21%	+3.71%
Max Drawdown (1Y) Largest decline over 1 year	-43.89%	-40.97%	-2.92%
Current Drawdown Current decline from peak	-14.59%	-6.30%	-8.29%
Average Drawdown Average peak-to-trough decline	-25.98%	-16.98%	-9.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.63%	15.57%	+4.06%

Volatility

NRGU vs. BNKU - Volatility Comparison

MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a higher volatility of 22.33% compared to MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) at 17.24%. This indicates that NRGU's price experiences larger fluctuations and is considered to be riskier than BNKU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NRGU	BNKU	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.33%	17.24%	+5.09%
Volatility (6M) Calculated over the trailing 6-month period	63.72%	46.55%	+17.17%
Volatility (1Y) Calculated over the trailing 1-year period	77.11%	58.83%	+18.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	88.94%	72.17%	+16.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	88.94%	72.17%	+16.77%

NRGU vs. BNKU - Expense Ratio Comparison

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

Dividends

NRGU vs. BNKU - Dividend Comparison

Neither NRGU nor BNKU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both NRGU and BNKU in my portfolio?

NRGU and BNKU have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NRGU or BNKU?

NRGU has higher volatility (22.33%) compared to BNKU (17.24%). In terms of maximum drawdown, NRGU dropped -57.50% vs BNKU's -61.21%.

Which ETF is better, NRGU or BNKU?

On 1-year performance, NRGU leads with 143.73% vs 89.64% for BNKU. Both ETFs have the same 0.95% expense ratio. On volatility, BNKU has been the lower-risk option at 17.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NRGU or BNKU?

Over the 1-year period, NRGU has performed better with a 143.73% return vs 89.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NRGU or BNKU?

NRGU and BNKU have the same expense ratio: 0.95% per year.

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

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

What is the main difference between NRGU and BNKU?

NRGU tracks Solactive MicroSectors U.S. Big Oil Index (-300%), while BNKU tracks Solactive MicroSectors U.S. Big Banks Index (-300%). They also come from different issuers: BMO and Bank of Montreal.

Which has better risk-adjusted returns?

NRGU currently has the higher Sharpe Ratio (1.88 vs 1.53), 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.