NRGU vs. EURL

Last updated Jun 13, 2026

NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) and EURL (Direxion Daily FTSE Europe Bull 3x Shares) are both Leveraged Equities funds - NRGU tracks the Solactive MicroSectors U.S. Big Oil Index (-300%) while EURL tracks the FTSE Developed Europe Index (300%). Both are passively managed. Over the past year, NRGU returned 107.84% vs 36.64% for EURL. At a correlation of -0.04, they often move in opposite directions. NRGU charges 0.95%/yr vs 1.07%/yr for EURL.

Performance

NRGU vs. EURL - 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 FTSE Europe Bull 3x Shares (EURL). 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 EURL's 13.73% return.

NRGU

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

EURL

• 1D: -0.06%
• 1M: 5.44%
• YTD: 13.73%
• 6M: 19.84%
• 1Y: 36.64%
• 3Y*: 31.61%
• 5Y*: 5.43%
• 10Y*: 11.27%

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

NRGU vs. EURL - Yearly Performance Comparison

	2026 (YTD)	2025
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	110.06%	-30.00%
EURL Direxion Daily FTSE Europe Bull 3x Shares	13.73%	58.53%

Correlation

The correlation between NRGU and EURL is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.15
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	-0.04

The correlation between NRGU and EURL shifts across timeframes, from -0.15 (1 year) to -0.04 (all time), reflecting how their relationship changes across market environments.

NRGU vs. EURL - Sectors Allocation Comparison

Sectors	NRGU	EURL
Energy	100.0%	5.7%
Basic Materials	-	5.5%
Communication Services	-	3.3%
Consumer Cyclical	-	7.2%
Consumer Defensive	-	8.2%
Financial Services	-	23.0%
Healthcare	-	13.2%
Industrials	-	19.8%
Real Estate	-	1.6%
Technology	-	7.9%
Utilities	-	4.8%

Return for Risk

NRGU vs. EURL — 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

EURL

EURL Risk / Return Rank: 26
EURL Sharpe Ratio Rank: 24
EURL Sortino Ratio Rank: 27
EURL Omega Ratio Rank: 26
EURL Calmar Ratio Rank: 26
EURL Martin Ratio Rank: 28

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. EURL - 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 FTSE Europe Bull 3x Shares (EURL). 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	EURL	Difference
Sharpe ratio: Return per unit of total volatility	1.44	0.77	+0.67
Sortino ratio: Return per unit of downside risk	1.98	1.33	+0.66
Omega ratio: Gain probability vs. loss probability	1.24	1.16	+0.09
Calmar ratio: Return relative to maximum drawdown	2.71	1.11	+1.60
Martin ratio: Return relative to average drawdown	6.55	3.50	+3.05

NRGU vs. EURL - Sharpe Ratio Comparison

The current NRGU Sharpe Ratio is 1.44, which is higher than the EURL Sharpe Ratio of 0.77. The chart below compares the historical Sharpe Ratios of NRGU and EURL, 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. EURL - Drawdown Comparison

The maximum NRGU drawdown since its inception was -57.50%, smaller than the maximum EURL drawdown of -84.65%. Use the drawdown chart below to compare losses from any high point for NRGU and EURL.

Drawdown Indicators

	NRGU	EURL	Difference
Max Drawdown Largest peak-to-trough decline	-57.50%	-84.65%	+27.15%
Max Drawdown (1Y) Largest decline over 1 year	-39.95%	-33.05%	-6.90%
Max Drawdown (3Y) Largest decline over 3 years	—	-38.81%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-75.24%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-84.65%	—
Current Drawdown Current decline from peak	-27.55%	-8.76%	-18.79%
Average Drawdown Average peak-to-trough decline	-25.35%	-36.91%	+11.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.54%	10.56%	+5.98%

Volatility

NRGU vs. EURL - Volatility Comparison

MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a higher volatility of 27.12% compared to Direxion Daily FTSE Europe Bull 3x Shares (EURL) at 17.98%. This indicates that NRGU's price experiences larger fluctuations and is considered to be riskier than EURL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NRGU	EURL	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.12%	17.98%	+9.14%
Volatility (6M) Calculated over the trailing 6-month period	62.47%	40.51%	+21.96%
Volatility (1Y) Calculated over the trailing 1-year period	75.30%	48.09%	+27.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	88.96%	53.55%	+35.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	88.96%	55.82%	+33.14%

NRGU vs. EURL - Expense Ratio Comparison

NRGU has a 0.95% expense ratio, which is lower than EURL's 1.07% expense ratio.

Dividends

NRGU vs. EURL - Dividend Comparison

NRGU has not paid dividends to shareholders, while EURL's dividend yield for the trailing twelve months is around 1.37%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EURL Direxion Daily FTSE Europe Bull 3x Shares	1.37%	1.50%	3.51%	2.50%	1.80%	0.33%	0.41%	1.17%	3.07%	0.38%
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 EURL in my portfolio?

NRGU and EURL have a correlation of -0.15, 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 EURL?

NRGU has higher volatility (27.12%) compared to EURL (17.98%). In terms of maximum drawdown, NRGU dropped -57.50% vs EURL's -84.65%.

Which ETF is better, NRGU or EURL?

On 1-year performance, NRGU leads with 107.84% vs 36.64% for EURL. On fees, NRGU is cheaper at 0.95% per year. On volatility, EURL has been the lower-risk option at 17.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NRGU or EURL?

Over the 1-year period, NRGU has performed better with a 107.84% return vs 36.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NRGU or EURL?

NRGU is cheaper with a 0.95% expense ratio, compared with 1.07% for EURL.

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

EURL has the higher dividend yield at 1.37%, compared with 0.00% for NRGU.

What is the main difference between NRGU and EURL?

NRGU tracks Solactive MicroSectors U.S. Big Oil Index (-300%), while EURL tracks FTSE Developed Europe Index (300%). They also come from different issuers: BMO and Direxion. Their fees differ too: 0.95% for NRGU and 1.07% for EURL.

Which has better risk-adjusted returns?

NRGU currently has the higher Sharpe Ratio (1.44 vs 0.77), 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.