NRGU vs. BRZU

Last updated Jun 13, 2026

NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) and BRZU (Direxion Daily Brazil Bull 2X Shares) are both Leveraged Equities funds - NRGU tracks the Solactive MicroSectors U.S. Big Oil Index (-300%) while BRZU tracks the MSCI Brazil 25/50 Index. Both are passively managed. Over the past year, NRGU returned 107.84% vs 53.22% for BRZU. At a 0.14 correlation, their price movements are largely independent. NRGU charges 0.95%/yr vs 1.29%/yr for BRZU.

Performance

NRGU vs. BRZU - 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 Direxion Daily Brazil Bull 2X Shares (BRZU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NRGU achieves a 110.06% return, which is significantly higher than BRZU's 14.47% return.

NRGU

• 1D: 2.51%
• 1M: 2.05%
• YTD: 110.06%
• 6M: 87.26%
• 1Y: 107.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BRZU

• 1D: 1.74%
• 1M: -9.87%
• YTD: 14.47%
• 6M: 11.16%
• 1Y: 53.22%
• 3Y*: 6.31%
• 5Y*: -2.87%
• 10Y*: -15.10%

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

NRGU vs. BRZU - Yearly Performance Comparison

	2026 (YTD)	2025
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	110.06%	-30.00%
BRZU Direxion Daily Brazil Bull 2X Shares	14.47%	49.53%

Correlation

The correlation between NRGU and BRZU is 0.02, 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	0.14

The correlation between NRGU and BRZU shifts across timeframes, from 0.02 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.

NRGU vs. BRZU - Sectors Allocation Comparison

Sectors	NRGU	BRZU
Energy	100.0%	18.7%
Basic Materials	-	13.7%
Communication Services	-	2.2%
Consumer Cyclical	-	1.5%
Consumer Defensive	-	4.2%
Financial Services	-	32.7%
Healthcare	-	2.4%
Industrials	-	10.9%
Real Estate	-	-
Technology	-	0.9%
Utilities	-	12.8%

Return for Risk

NRGU vs. BRZU — Risk / Return Rank

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

NRGU

NRGU Risk / Return Rank: 48
NRGU Sharpe Ratio Rank: 47
NRGU Sortino Ratio Rank: 44
NRGU Omega Ratio Rank: 43
NRGU Calmar Ratio Rank: 62
NRGU Martin Ratio Rank: 45

BRZU

BRZU Risk / Return Rank: 34
BRZU Sharpe Ratio Rank: 33
BRZU Sortino Ratio Rank: 33
BRZU Omega Ratio Rank: 34
BRZU Calmar Ratio Rank: 34
BRZU Martin Ratio Rank: 34

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. BRZU - 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 Direxion Daily Brazil Bull 2X Shares (BRZU). 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	BRZU	Difference
Sharpe ratio: Return per unit of total volatility	1.44	1.07	+0.37
Sortino ratio: Return per unit of downside risk	1.98	1.59	+0.39
Omega ratio: Gain probability vs. loss probability	1.24	1.20	+0.04
Calmar ratio: Return relative to maximum drawdown	2.71	1.49	+1.23
Martin ratio: Return relative to average drawdown	6.55	4.43	+2.12

NRGU vs. BRZU - Sharpe Ratio Comparison

The current NRGU Sharpe Ratio is 1.44, which is higher than the BRZU Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of NRGU and BRZU, 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. BRZU - Drawdown Comparison

The maximum NRGU drawdown since its inception was -57.50%, smaller than the maximum BRZU drawdown of -99.71%. Use the drawdown chart below to compare losses from any high point for NRGU and BRZU.

Drawdown Indicators

	NRGU	BRZU	Difference
Max Drawdown Largest peak-to-trough decline	-57.50%	-99.71%	+42.21%
Max Drawdown (1Y) Largest decline over 1 year	-39.95%	-35.97%	-3.98%
Max Drawdown (3Y) Largest decline over 3 years	—	-58.25%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-65.00%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-98.11%	—
Current Drawdown Current decline from peak	-27.55%	-99.18%	+71.63%
Average Drawdown Average peak-to-trough decline	-25.35%	-89.55%	+64.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.54%	12.06%	+4.48%

Volatility

NRGU vs. BRZU - Volatility Comparison

MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a higher volatility of 27.12% compared to Direxion Daily Brazil Bull 2X Shares (BRZU) at 14.76%. This indicates that NRGU's price experiences larger fluctuations and is considered to be riskier than BRZU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NRGU	BRZU	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.12%	14.76%	+12.36%
Volatility (6M) Calculated over the trailing 6-month period	62.47%	39.95%	+22.52%
Volatility (1Y) Calculated over the trailing 1-year period	75.30%	50.10%	+25.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	88.96%	55.45%	+33.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	88.96%	82.91%	+6.05%

NRGU vs. BRZU - Expense Ratio Comparison

NRGU has a 0.95% expense ratio, which is lower than BRZU's 1.29% expense ratio.

Dividends

NRGU vs. BRZU - Dividend Comparison

NRGU has not paid dividends to shareholders, while BRZU's dividend yield for the trailing twelve months is around 2.33%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BRZU Direxion Daily Brazil Bull 2X Shares	2.33%	2.39%	8.73%	3.24%	4.70%	6.29%	0.78%	0.95%	1.04%	0.74%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NRGU and BRZU in my portfolio?

NRGU and BRZU have a correlation of 0.02, 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 BRZU?

NRGU has higher volatility (27.12%) compared to BRZU (14.76%). In terms of maximum drawdown, NRGU dropped -57.50% vs BRZU's -99.71%.

Which ETF is better, NRGU or BRZU?

On 1-year performance, NRGU leads with 107.84% vs 53.22% for BRZU. On fees, NRGU is cheaper at 0.95% per year. On volatility, BRZU has been the lower-risk option at 14.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NRGU or BRZU?

Over the 1-year period, NRGU has performed better with a 107.84% return vs 53.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NRGU or BRZU?

NRGU is cheaper with a 0.95% expense ratio, compared with 1.29% for BRZU.

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

BRZU has the higher dividend yield at 2.33%, compared with 0.00% for NRGU.

What is the main difference between NRGU and BRZU?

NRGU tracks Solactive MicroSectors U.S. Big Oil Index (-300%), while BRZU tracks MSCI Brazil 25/50 Index. They also come from different issuers: BMO and Direxion. Their fees differ too: 0.95% for NRGU and 1.29% for BRZU.

Which has better risk-adjusted returns?

NRGU currently has the higher Sharpe Ratio (1.44 vs 1.07), 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.