NRGU vs. ERX
Compare and contrast key facts about MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) and Direxion Daily Energy Bull 2X Shares (ERX).
NRGU and ERX 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. ERX is a passively managed fund by Direxion that tracks the performance of the Energy Select Sector Index (300%). It was launched on Apr 1, 2020. Both NRGU and ERX 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. ERX - Performance Comparison
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NRGU vs. ERX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN | 139.49% | -33.00% |
ERX Direxion Daily Energy Bull 2X Shares | 71.72% | -11.17% |
Returns By Period
In the year-to-date period, NRGU achieves a 139.49% return, which is significantly higher than ERX's 71.72% return.
NRGU
- 1D
- -10.75%
- 1M
- 24.81%
- YTD
- 139.49%
- 6M
- 107.68%
- 1Y
- 69.15%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ERX
- 1D
- -7.39%
- 1M
- 7.35%
- YTD
- 71.72%
- 6M
- 71.12%
- 1Y
- 48.19%
- 3Y*
- 21.00%
- 5Y*
- 34.47%
- 10Y*
- -6.32%
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NRGU vs. ERX - Expense Ratio Comparison
NRGU has a 0.95% expense ratio, which is lower than ERX's 1.09% expense ratio.
Return for Risk
NRGU vs. ERX — Risk / Return Rank
NRGU
ERX
NRGU vs. ERX - 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 Energy Bull 2X Shares (ERX). 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 | ERX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.79 | 0.97 | -0.18 |
Sortino ratioReturn per unit of downside risk | 1.48 | 1.42 | +0.06 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.21 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.29 | 1.41 | -0.11 |
Martin ratioReturn relative to average drawdown | 2.64 | 2.87 | -0.23 |
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 | ERX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 0.97 | -0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.66 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | -0.09 | +0.70 |
Correlation
The correlation between NRGU and ERX is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
NRGU vs. ERX - Dividend Comparison
NRGU has not paid dividends to shareholders, while ERX's dividend yield for the trailing twelve months is around 1.56%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
ERX Direxion Daily Energy Bull 2X Shares | 1.56% | 2.54% | 2.94% | 3.17% | 2.23% | 2.16% | 2.35% | 1.56% | 3.10% | 0.85% |
Drawdowns
NRGU vs. ERX - Drawdown Comparison
The maximum NRGU drawdown since its inception was -57.50%, smaller than the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for NRGU and ERX.
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Drawdown Indicators
| NRGU | ERX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.50% | -99.54% | +42.04% |
Max Drawdown (1Y)Largest decline over 1 year | -55.24% | -35.17% | -20.07% |
Max Drawdown (5Y)Largest decline over 5 years | — | -46.90% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -98.59% | — |
Current DrawdownCurrent decline from peak | -17.40% | -91.33% | +73.93% |
Average DrawdownAverage peak-to-trough decline | -25.38% | -66.78% | +41.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.12% | 17.26% | +9.86% |
Volatility
NRGU vs. ERX - Volatility Comparison
MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a higher volatility of 23.31% compared to Direxion Daily Energy Bull 2X Shares (ERX) at 13.01%. This indicates that NRGU's price experiences larger fluctuations and is considered to be riskier than ERX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NRGU | ERX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.31% | 13.01% | +10.30% |
Volatility (6M)Calculated over the trailing 6-month period | 50.27% | 29.14% | +21.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.18% | 50.15% | +38.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 87.12% | 52.18% | +34.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 87.12% | 69.25% | +17.87% |