NRGU vs. FLYU

Last updated Jul 22, 2026

NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) and FLYU (MicroSectors Travel 3X Leveraged ETNs) are both Leveraged Equities funds - NRGU tracks the Solactive MicroSectors U.S. Big Oil Index (-300%) while FLYU tracks the MerQube MicroSectors U.S. Travel Index. Both are passively managed. Over the past year, NRGU returned 143.73% vs -22.80% for FLYU. At a correlation of -0.02, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

NRGU vs. FLYU - 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 Travel 3X Leveraged ETNs (FLYU). 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 FLYU's -17.85% return.

NRGU

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

FLYU

• 1D: 0.11%
• 1M: -9.91%
• 6M: -9.30%
• YTD: -17.85%
• 1Y: -22.80%
• 3Y*: -1.34%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.87%

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

NRGU vs. FLYU - Yearly Performance Comparison

	2026 (YTD)	2025
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	147.63%	-30.00%
FLYU MicroSectors Travel 3X Leveraged ETNs	-17.85%	-20.68%

Correlation

The correlation between NRGU and FLYU is -0.21, 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	-0.21
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	-0.02

The correlation between NRGU and FLYU shifts across timeframes, from -0.21 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.

NRGU vs. FLYU - Sectors Allocation Comparison

Sectors	NRGU	FLYU
Energy	100.0%	-
Basic Materials	-	-
Communication Services	-	13.2%
Consumer Cyclical	-	52.6%
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	17.7%
Real Estate	-	0.1%
Technology	-	16.4%
Utilities	-	-

Return for Risk

NRGU vs. FLYU — 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

FLYU

FLYU Risk / Return Rank: 7
FLYU Sharpe Ratio Rank: 7
FLYU Sortino Ratio Rank: 9
FLYU Omega Ratio Rank: 9
FLYU Calmar Ratio Rank: 6
FLYU Martin Ratio Rank: 6

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. FLYU - 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 Travel 3X Leveraged ETNs (FLYU). 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	FLYU	Difference
Sharpe ratio: Return per unit of total volatility	1.88	-0.31	+2.18
Sortino ratio: Return per unit of downside risk	2.29	0.03	+2.26
Omega ratio: Gain probability vs. loss probability	1.29	1.00	+0.28
Calmar ratio: Return relative to maximum drawdown	3.29	-0.44	+3.73
Martin ratio: Return relative to average drawdown	7.35	-0.88	+8.23

NRGU vs. FLYU - Sharpe Ratio Comparison

The current NRGU Sharpe Ratio is 1.88, which is higher than the FLYU Sharpe Ratio of -0.31. The chart below compares the historical Sharpe Ratios of NRGU and FLYU, 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. FLYU - Drawdown Comparison

The maximum NRGU drawdown since its inception was -57.50%, smaller than the maximum FLYU drawdown of -69.00%. Use the drawdown chart below to compare losses from any high point for NRGU and FLYU.

Drawdown Indicators

	NRGU	FLYU	Difference
Max Drawdown Largest peak-to-trough decline	-57.50%	-69.00%	+11.50%
Max Drawdown (1Y) Largest decline over 1 year	-43.89%	-52.33%	+8.44%
Max Drawdown (3Y) Largest decline over 3 years	—	-69.00%	—
Current Drawdown Current decline from peak	-14.59%	-34.84%	+20.25%
Average Drawdown Average peak-to-trough decline	-25.98%	-26.59%	+0.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.63%	25.94%	-6.31%

Volatility

NRGU vs. FLYU - Volatility Comparison

MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a higher volatility of 22.33% compared to MicroSectors Travel 3X Leveraged ETNs (FLYU) at 17.61%. This indicates that NRGU's price experiences larger fluctuations and is considered to be riskier than FLYU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NRGU	FLYU	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.33%	17.61%	+4.72%
Volatility (6M) Calculated over the trailing 6-month period	63.72%	61.02%	+2.70%
Volatility (1Y) Calculated over the trailing 1-year period	77.11%	74.53%	+2.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	88.94%	82.89%	+6.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	88.94%	82.89%	+6.05%

NRGU vs. FLYU - Expense Ratio Comparison

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

Dividends

NRGU vs. FLYU - Dividend Comparison

Neither NRGU nor FLYU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both NRGU and FLYU in my portfolio?

NRGU and FLYU have a correlation of -0.21, 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 FLYU?

NRGU has higher volatility (22.33%) compared to FLYU (17.61%). In terms of maximum drawdown, NRGU dropped -57.50% vs FLYU's -69.00%.

Which ETF is better, NRGU or FLYU?

On 1-year performance, NRGU leads with 143.73% vs -22.80% for FLYU. Both ETFs have the same 0.95% expense ratio. On volatility, FLYU has been the lower-risk option at 17.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NRGU or FLYU?

Over the 1-year period, NRGU has performed better with a 143.73% return vs -22.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NRGU or FLYU?

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

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

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

What is the main difference between NRGU and FLYU?

NRGU tracks Solactive MicroSectors U.S. Big Oil Index (-300%), while FLYU tracks MerQube MicroSectors U.S. Travel Index. They also come from different issuers: BMO and REX.

Which has better risk-adjusted returns?

NRGU currently has the higher Sharpe Ratio (1.88 vs -0.31), 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.