NRGU vs. FNGD

Last updated Jun 24, 2026

NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) and FNGD (MicroSectors FANG+™ Index -3X Inverse Leveraged ETN) are both Leveraged Equities funds from BMO - NRGU tracks the Solactive MicroSectors U.S. Big Oil Index (-300%) while FNGD tracks the NYSE FANG+ Index (-300%). Both are passively managed. Over the past year, NRGU returned 79.52% vs -49.41% for FNGD. At a 0.03 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

NRGU vs. FNGD - 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 FANG+™ Index -3X Inverse Leveraged ETN (FNGD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NRGU achieves a 78.80% return, which is significantly higher than FNGD's -27.13% return.

NRGU

• 1D: 1.89%
• 1M: -21.00%
• YTD: 78.80%
• 6M: 80.03%
• 1Y: 79.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FNGD

• 1D: 7.44%
• 1M: 2.40%
• YTD: -27.13%
• 6M: -23.35%
• 1Y: -49.41%
• 3Y*: -65.49%
• 5Y*: -62.47%
• 10Y*: —

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

NRGU vs. FNGD - Yearly Performance Comparison

	2026 (YTD)	2025
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	78.80%	-30.00%
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN	-27.13%	-52.69%

Correlation

The correlation between NRGU and FNGD is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.03

The correlation between NRGU and FNGD shifts across timeframes, from 0.03 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.

NRGU vs. FNGD - Sectors Allocation Comparison

Sectors	NRGU	FNGD
Energy	100.0%	-
Basic Materials	-	-
Communication Services	-	26.0%
Consumer Cyclical	-	10.6%
Consumer Defensive	-	-
Financial Services	-	10.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	63.4%
Utilities	-	-

Return for Risk

NRGU vs. FNGD — Risk / Return Rank

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

NRGU

NRGU Risk / Return Rank: 33
NRGU Sharpe Ratio Rank: 31
NRGU Sortino Ratio Rank: 33
NRGU Omega Ratio Rank: 32
NRGU Calmar Ratio Rank: 39
NRGU Martin Ratio Rank: 32

FNGD

FNGD Risk / Return Rank: 3
FNGD Sharpe Ratio Rank: 3
FNGD Sortino Ratio Rank: 3
FNGD Omega Ratio Rank: 3
FNGD Calmar Ratio Rank: 3
FNGD Martin Ratio Rank: 1

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. FNGD - 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 FANG+™ Index -3X Inverse Leveraged ETN (FNGD). 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	FNGD	Difference
Sharpe ratio: Return per unit of total volatility	1.05	-0.76	+1.81
Sortino ratio: Return per unit of downside risk	1.67	-1.00	+2.67
Omega ratio: Gain probability vs. loss probability	1.21	0.89	+0.32
Calmar ratio: Return relative to maximum drawdown	1.87	-0.75	+2.62
Martin ratio: Return relative to average drawdown	4.58	-1.52	+6.10

NRGU vs. FNGD - Sharpe Ratio Comparison

The current NRGU Sharpe Ratio is 1.05, which is higher than the FNGD Sharpe Ratio of -0.76. The chart below compares the historical Sharpe Ratios of NRGU and FNGD, 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. FNGD - Drawdown Comparison

The maximum NRGU drawdown since its inception was -57.50%, smaller than the maximum FNGD drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for NRGU and FNGD.

Drawdown Indicators

	NRGU	FNGD	Difference
Max Drawdown Largest peak-to-trough decline	-57.50%	-100.00%	+42.50%
Max Drawdown (1Y) Largest decline over 1 year	-42.71%	-65.92%	+23.21%
Max Drawdown (3Y) Largest decline over 3 years	—	-97.35%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-99.67%	—
Current Drawdown Current decline from peak	-38.33%	-100.00%	+61.67%
Average Drawdown Average peak-to-trough decline	-25.59%	-87.30%	+61.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.45%	34.15%	-16.70%

Volatility

NRGU vs. FNGD - Volatility Comparison

The current volatility for MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) is 27.38%, while MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) has a volatility of 33.07%. This indicates that NRGU experiences smaller price fluctuations and is considered to be less risky than FNGD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NRGU	FNGD	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.38%	33.07%	-5.69%
Volatility (6M) Calculated over the trailing 6-month period	62.59%	53.22%	+9.37%
Volatility (1Y) Calculated over the trailing 1-year period	76.53%	65.50%	+11.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.19%	89.67%	-0.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.19%	91.30%	-2.11%

NRGU vs. FNGD - Expense Ratio Comparison

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

Dividends

NRGU vs. FNGD - Dividend Comparison

Neither NRGU nor FNGD has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both NRGU and FNGD in my portfolio?

NRGU and FNGD have a correlation of 0.19, 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 FNGD?

FNGD has higher volatility (33.07%) compared to NRGU (27.38%). In terms of maximum drawdown, NRGU dropped -57.50% vs FNGD's -100.00%.

Which ETF is better, NRGU or FNGD?

On 1-year performance, NRGU leads with 79.52% vs -49.41% for FNGD. Both ETFs have the same 0.95% expense ratio. On volatility, NRGU has been the lower-risk option at 27.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NRGU or FNGD?

Over the 1-year period, NRGU has performed better with a 79.52% return vs -49.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NRGU or FNGD?

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

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

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

What is the main difference between NRGU and FNGD?

NRGU tracks Solactive MicroSectors U.S. Big Oil Index (-300%), while FNGD tracks NYSE FANG+ Index (-300%).

Which has better risk-adjusted returns?

NRGU currently has the higher Sharpe Ratio (1.05 vs -0.76), 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.