NRGU vs. JNUG

Last updated Aug 2, 2026

NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) and JNUG (Direxion Daily Junior Gold Miners Index Bull 2X ETF) are both exchange-traded funds - NRGU is a Leveraged Equities fund tracking the Solactive MicroSectors U.S. Big Oil Index, while JNUG is a Gold fund tracking the MVIS Global Junior Gold Miners Index (200%). Both are passively managed. Over the past year, NRGU returned 166.43% vs 55.90% for JNUG. Their -0.10 correlation means they have often moved in opposite directions in the past. NRGU charges 0.95%/yr vs 1.03%/yr for JNUG.

Performance

NRGU vs. JNUG - 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 Junior Gold Miners Index Bull 2X ETF (JNUG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NRGU achieves a 157.14% return, which is significantly higher than JNUG's -45.63% return.

NRGU

• 1D: 2.86%
• 1M: 51.26%
• 6M: 91.25%
• YTD: 157.14%
• 1Y: 166.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 50.40%

JNUG

• 1D: -7.15%
• 1M: -15.90%
• 6M: -52.25%
• YTD: -45.63%
• 1Y: 55.90%
• 3Y*: 52.37%
• 5Y*: 8.91%
• 10Y*: -32.42%
• ALL TIME*: -36.14%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JNUG Direxion Daily Junior Gold Miners Index Bull 2X ETF	$33.40M	$38.00M	$44.93M
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	$4.57M	$4.13M	$3.95M

NRGU vs. JNUG - Yearly Performance Comparison

	2026 (YTD)	2025
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	157.14%	-30.00%
JNUG Direxion Daily Junior Gold Miners Index Bull 2X ETF	-45.63%	315.93%

Correlation

The correlation between NRGU and JNUG is -0.10, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.10
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	-0.10

NRGU vs. JNUG - Sectors Allocation Comparison

Sectors	NRGU	JNUG
Energy	100.0%	-
Basic Materials	-	100.0%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

NRGU vs. JNUG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NRGU

NRGU Risk / Return Rank: 75
NRGU Sharpe Ratio Rank: 83
NRGU Sortino Ratio Rank: 72
NRGU Omega Ratio Rank: 69
NRGU Calmar Ratio Rank: 86
NRGU Martin Ratio Rank: 63

JNUG

JNUG Risk / Return Rank: 30
JNUG Sharpe Ratio Rank: 25
JNUG Sortino Ratio Rank: 36
JNUG Omega Ratio Rank: 38
JNUG Calmar Ratio Rank: 27
JNUG Martin Ratio Rank: 23

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NRGU vs. JNUG - 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 Junior Gold Miners Index Bull 2X ETF (JNUG). 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	JNUG	Difference
Sharpe ratio: Return per unit of total volatility	1.92	0.56	+1.36
Sortino ratio: Return per unit of downside risk	2.31	1.37	+0.95
Omega ratio: Gain probability vs. loss probability	1.29	1.18	+0.11
Calmar ratio: Return relative to maximum drawdown	3.38	0.85	+2.53
Martin ratio: Return relative to average drawdown	7.59	1.67	+5.92

NRGU vs. JNUG - Sharpe Ratio Comparison

The current NRGU Sharpe Ratio is 1.92, which is higher than the JNUG Sharpe Ratio of 0.56. The chart below compares the historical Sharpe Ratios of NRGU and JNUG, 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. JNUG - Drawdown Comparison

The maximum NRGU drawdown since its inception was -57.50%, smaller than the maximum JNUG drawdown of -99.95%. Use the drawdown chart below to compare losses from any high point for NRGU and JNUG.

Drawdown Indicators

	NRGU	JNUG	Difference
Max Drawdown Largest peak-to-trough decline	-57.50%	-99.95%	+42.45%
Max Drawdown (1Y) Largest decline over 1 year	-43.89%	-70.58%	+26.69%
Max Drawdown (3Y) Largest decline over 3 years	—	-70.58%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-76.67%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-99.66%	—
Current Drawdown Current decline from peak	-11.31%	-99.70%	+88.39%
Average Drawdown Average peak-to-trough decline	-25.74%	-93.93%	+68.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.55%	35.99%	-16.44%

Volatility

NRGU vs. JNUG - Volatility Comparison

The current volatility for MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) is 22.83%, while Direxion Daily Junior Gold Miners Index Bull 2X ETF (JNUG) has a volatility of 29.49%. This indicates that NRGU experiences smaller price fluctuations and is considered to be less risky than JNUG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NRGU	JNUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.83%	29.49%	-6.66%
Volatility (6M) Calculated over the trailing 6-month period	64.33%	90.25%	-25.92%
Volatility (1Y) Calculated over the trailing 1-year period	77.39%	107.20%	-29.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	88.47%	82.38%	+6.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	88.47%	105.73%	-17.26%

NRGU vs. JNUG - Expense Ratio Comparison

NRGU has a 0.95% expense ratio, which is lower than JNUG's 1.03% expense ratio.

Dividends

NRGU vs. JNUG - Dividend Comparison

NRGU has not paid dividends to shareholders, while JNUG's dividend yield for the trailing twelve months is around 2.62%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JNUG Direxion Daily Junior Gold Miners Index Bull 2X ETF	2.62%	1.04%	2.01%	1.62%	0.00%	0.52%	0.10%	0.46%	0.06%	0.51%
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 JNUG in my portfolio?

NRGU and JNUG have a correlation of -0.10, 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 JNUG?

JNUG has higher volatility (29.49%) compared to NRGU (22.83%). In terms of maximum drawdown, NRGU dropped -57.50% vs JNUG's -99.95%.

Which ETF is better, NRGU or JNUG?

On 1-year performance, NRGU leads with 166.43% vs 55.90% for JNUG. On fees, NRGU is cheaper at 0.95% per year. On volatility, NRGU has been the lower-risk option at 22.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NRGU or JNUG?

Over the 1-year period, NRGU has performed better with a 166.43% return vs 55.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NRGU or JNUG?

NRGU is cheaper with a 0.95% expense ratio, compared with 1.03% for JNUG.

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

JNUG has the higher dividend yield at 2.62%, compared with 0.00% for NRGU.

What is the main difference between NRGU and JNUG?

NRGU is categorized as Leveraged Equities, while JNUG is Gold. NRGU tracks Solactive MicroSectors U.S. Big Oil Index, while JNUG tracks MVIS Global Junior Gold Miners Index (200%). They also come from different issuers: BMO and Direxion. Their fees differ too: 0.95% for NRGU and 1.03% for JNUG.

Which has better risk-adjusted returns?

NRGU currently has the higher Sharpe Ratio (1.92 vs 0.56), 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.