NRGU vs. BNO
Compare and contrast key facts about MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) and United States Brent Oil Fund LP (BNO).
NRGU and BNO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. BNO is a passively managed fund by Concierge Technologies that tracks the performance of the Front Month Brent Crude Oil. It was launched on Jun 2, 2010. Both NRGU and BNO 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
NRGU vs. BNO - Performance Comparison
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NRGU vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN | 139.49% | -33.00% |
BNO United States Brent Oil Fund LP | 77.72% | -9.64% |
Returns By Period
In the year-to-date period, NRGU achieves a 139.49% return, which is significantly higher than BNO's 77.72% return.
NRGU
- 1D
- -10.75%
- 1M
- 24.81%
- YTD
- 139.49%
- 6M
- 107.68%
- 1Y
- 69.15%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BNO
- 1D
- -3.23%
- 1M
- 34.79%
- YTD
- 77.72%
- 6M
- 69.06%
- 1Y
- 62.25%
- 3Y*
- 23.72%
- 5Y*
- 25.28%
- 10Y*
- 15.62%
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NRGU vs. BNO - Expense Ratio Comparison
NRGU has a 0.95% expense ratio, which is higher than BNO's 0.90% expense ratio.
Return for Risk
NRGU vs. BNO — Risk / Return Rank
NRGU
BNO
NRGU vs. BNO - 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 United States Brent Oil Fund LP (BNO). 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 | BNO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.79 | 1.70 | -0.91 |
Sortino ratioReturn per unit of downside risk | 1.48 | 2.33 | -0.85 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.30 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.29 | 3.34 | -2.05 |
Martin ratioReturn relative to average drawdown | 2.64 | 6.02 | -3.39 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NRGU | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 1.70 | -0.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.75 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.43 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.13 | +0.48 |
Correlation
The correlation between NRGU and BNO is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
NRGU vs. BNO - Dividend Comparison
Neither NRGU nor BNO has paid dividends to shareholders.
Drawdowns
NRGU vs. BNO - Drawdown Comparison
The maximum NRGU drawdown since its inception was -57.50%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for NRGU and BNO.
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Drawdown Indicators
| NRGU | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.50% | -87.06% | +29.56% |
Max Drawdown (1Y)Largest decline over 1 year | -55.24% | -18.48% | -36.76% |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -17.40% | -6.78% | -10.62% |
Average DrawdownAverage peak-to-trough decline | -25.38% | -40.52% | +15.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.12% | 10.26% | +16.86% |
Volatility
NRGU vs. BNO - Volatility Comparison
MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a higher volatility of 23.31% compared to United States Brent Oil Fund LP (BNO) at 20.48%. This indicates that NRGU's price experiences larger fluctuations and is considered to be riskier than BNO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NRGU | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.31% | 20.48% | +2.83% |
Volatility (6M)Calculated over the trailing 6-month period | 50.27% | 27.96% | +22.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.18% | 36.84% | +51.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 87.12% | 33.91% | +53.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 87.12% | 36.11% | +51.01% |