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NRGU vs. SMH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NRGU vs. SMH

Last updated Jun 4, 2026

NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - NRGU is a Leveraged Equities fund tracking the Solactive MicroSectors U.S. Big Oil Index (-300%), while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Both are passively managed. Over the past year, NRGU returned 156.99% vs 157.20% for SMH. At a 0.08 correlation, their price movements are largely independent. NRGU charges 0.95%/yr vs 0.35%/yr for SMH.

Performance

NRGU vs. SMH - 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 VanEck Semiconductor ETF (SMH). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, NRGU achieves a 129.31% return, which is significantly higher than SMH's 77.13% return.

NRGU

1D
2.53%
1M
-6.67%
YTD
129.31%
6M
97.01%
1Y
156.99%
3Y*
—
5Y*
—
10Y*
—

SMH

1D
0.90%
1M
25.87%
YTD
77.13%
6M
75.61%
1Y
157.20%
3Y*
64.17%
5Y*
39.21%
10Y*
37.68%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NRGU vs. SMH - Yearly Performance Comparison

2026 (YTD)2025
NRGU
MicroSectors U.S. Big Oil Index 3X Leveraged ETN		129.31%-33.00%
SMH
VanEck Semiconductor ETF		77.13%40.13%

Correlation

The correlation between NRGU and SMH is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.08

Correlation (All Time)
Calculated using the full available price history since Feb 21, 2025

0.08

The correlation between NRGU and SMH shifts across timeframes, from -0.08 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.

NRGU vs. SMH - Sectors Allocation Comparison

Sectors
NRGU
SMH

Energy

100.0%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

100.0%

Utilities

-

-

Energy

NRGU
100.0%
SMH

-

Basic Materials

NRGU

-

SMH

-

Communication Services

NRGU

-

SMH

-

Consumer Cyclical

NRGU

-

SMH

-

Consumer Defensive

NRGU

-

SMH

-

Financial Services

NRGU

-

SMH

-

Healthcare

NRGU

-

SMH

-

Industrials

NRGU

-

SMH

-

Real Estate

NRGU

-

SMH

-

Technology

NRGU

-

SMH
100.0%

Utilities

NRGU

-

SMH

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

MicroSectors U.S. Big Oil Index 3X Leveraged ETN

VanEck Semiconductor ETF

Often compared with NRGU:
NRGU vs. OILUNRGU vs. NRGDNRGU vs. JNUGNRGU vs. WTIUNRGU vs. DIGNRGU vs. TMVNRGU vs. FNGU
Often compared with SMH:
SMH vs. SOXXSMH vs. QQQSMH vs. VGTSMH vs. FSELXSMH vs. SPYSMH vs. SMHXSMH vs. XLK

Return for Risk

NRGU vs. SMH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NRGU
NRGU Risk / Return Rank: 5858
Overall Rank
NRGU Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
NRGU Sortino Ratio Rank: 4848
Sortino Ratio Rank
NRGU Omega Ratio Rank: 4848
Omega Ratio Rank
NRGU Calmar Ratio Rank: 7777
Calmar Ratio Rank
NRGU Martin Ratio Rank: 5656
Martin Ratio Rank
SMH
SMH Risk / Return Rank: 9696
Overall Rank
SMH Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
SMH Sortino Ratio Rank: 9595
Sortino Ratio Rank
SMH Omega Ratio Rank: 9595
Omega Ratio Rank
SMH Calmar Ratio Rank: 9797
Calmar Ratio Rank
SMH Martin Ratio Rank: 9696
Martin Ratio Rank
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. SMH - 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 VanEck Semiconductor ETF (SMH). 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.

NRGUSMHDifference
Sharpe ratioReturn per unit of total volatility
2.11
5.19

-3.08

Sortino ratioReturn per unit of downside risk
2.43
5.22

-2.79

Omega ratioGain probability vs. loss probability

1.30

1.72

-0.42

Calmar ratioReturn relative to maximum drawdown

3.95

10.59

-6.64

Martin ratioReturn relative to average drawdown

9.88

40.63

-30.74

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NRGU vs. SMH - Sharpe Ratio Comparison

The current NRGU Sharpe Ratio is 2.11, which is lower than the SMH Sharpe Ratio of 5.19. The chart below compares the historical Sharpe Ratios of NRGU and SMH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

NRGUSMHDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.11

5.19

-3.08

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.13

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

1.16

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.45

0.34

+0.11

Drawdowns

NRGU vs. SMH - Drawdown Comparison

The maximum NRGU drawdown since its inception was -57.50%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for NRGU and SMH.

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Drawdown Indicators

NRGUSMHDifference

Max Drawdown

Largest peak-to-trough decline

-57.50%

-84.96%

+27.46%

Max Drawdown (1Y)

Largest decline over 1 year

-39.95%

-14.93%

-25.02%

Max Drawdown (3Y)

Largest decline over 3 years

—

-35.74%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-45.30%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-45.30%

—

Current Drawdown

Current decline from peak

-20.91%

0.00%

-20.91%

Average Drawdown

Average peak-to-trough decline

-25.42%

-41.09%

+15.67%

Ulcer Index

Depth and duration of drawdowns from previous peaks

15.96%

3.89%

+12.07%

Volatility

NRGU vs. SMH - Volatility Comparison

MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a higher volatility of 31.63% compared to VanEck Semiconductor ETF (SMH) at 11.47%. This indicates that NRGU's price experiences larger fluctuations and is considered to be riskier than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

NRGUSMHDifference

Volatility (1M)

Calculated over the trailing 1-month period

31.63%

11.47%

+20.16%

Volatility (6M)

Calculated over the trailing 6-month period

61.27%

24.29%

+36.98%

Volatility (1Y)

Calculated over the trailing 1-year period

75.15%

30.56%

+44.59%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

89.15%

35.01%

+54.14%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

89.15%

32.57%

+56.58%

NRGU vs. SMH - Expense Ratio Comparison

NRGU has a 0.95% expense ratio, which is higher than SMH's 0.35% expense ratio.

Dividends

NRGU vs. SMH - Dividend Comparison

NRGU has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.17%.

PositionTTM20252024202320222021202020192018201720162015
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%0.00%0.00%
SMH
VanEck Semiconductor ETF		0.17%0.31%0.44%0.60%1.18%0.51%0.69%1.50%1.88%1.43%0.80%2.14%

Frequently Asked Questions

NRGU and SMH have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

NRGU has higher volatility (31.63%) compared to SMH (11.47%). In terms of maximum drawdown, NRGU dropped -57.50% vs SMH's -84.96%.

On 1-year performance, SMH leads with 157.20% vs 156.99% for NRGU. On fees, SMH is cheaper at 0.35% per year. On volatility, SMH has been the lower-risk option at 11.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, SMH has performed better with a 157.20% return vs 156.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SMH is cheaper with a 0.35% expense ratio, compared with 0.95% for NRGU.

SMH has the higher dividend yield at 0.17%, compared with 0.00% for NRGU.

NRGU is categorized as Leveraged Equities, while SMH is Semiconductors. NRGU tracks Solactive MicroSectors U.S. Big Oil Index (-300%), while SMH tracks MVIS US Listed Semiconductor 25 Index. They also come from different issuers: BMO and VanEck. Their fees differ too: 0.95% for NRGU and 0.35% for SMH.

SMH currently has the higher Sharpe Ratio (5.19 vs 2.11), 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.

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