NRGU vs. SQQQ

Last updated Jun 26, 2026

NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) and SQQQ (ProShares UltraPro Short QQQ) are both Leveraged Equities funds - NRGU tracks the Solactive MicroSectors U.S. Big Oil Index (-300%) while SQQQ tracks the NASDAQ-100 Index (-300%). Both are passively managed. Over the past year, NRGU returned 87.62% vs -59.41% for SQQQ. At a correlation of -0.04, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

NRGU vs. SQQQ - 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 ProShares UltraPro Short QQQ (SQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NRGU achieves a 74.97% return, which is significantly higher than SQQQ's -40.98% return.

NRGU

• 1D: 2.72%
• 1M: -13.53%
• YTD: 74.97%
• 6M: 78.13%
• 1Y: 87.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SQQQ

• 1D: -2.42%
• 1M: 2.09%
• YTD: -40.98%
• 6M: -38.01%
• 1Y: -59.41%
• 3Y*: -54.63%
• 5Y*: -47.03%
• 10Y*: -56.54%

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

NRGU vs. SQQQ - Yearly Performance Comparison

	2026 (YTD)	2025
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	74.97%	-30.00%
SQQQ ProShares UltraPro Short QQQ	-40.98%	-44.62%

Correlation

The correlation between NRGU and SQQQ is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	-0.04

The correlation between NRGU and SQQQ shifts across timeframes, from -0.04 (all time) to 0.13 (1 year), reflecting how their relationship changes across market environments.

NRGU vs. SQQQ - Sectors Allocation Comparison

Sectors	NRGU	SQQQ
Energy	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	122.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

NRGU vs. SQQQ — Risk / Return Rank

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

NRGU

NRGU Risk / Return Rank: 38
NRGU Sharpe Ratio Rank: 36
NRGU Sortino Ratio Rank: 37
NRGU Omega Ratio Rank: 36
NRGU Calmar Ratio Rank: 47
NRGU Martin Ratio Rank: 36

SQQQ

SQQQ Risk / Return Rank: 1
SQQQ Sharpe Ratio Rank: 1
SQQQ Sortino Ratio Rank: 1
SQQQ Omega Ratio Rank: 1
SQQQ Calmar Ratio Rank: 1
SQQQ Martin Ratio Rank: 0

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. SQQQ - 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 ProShares UltraPro Short QQQ (SQQQ). 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	SQQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.16	-1.11	+2.27
Sortino ratio: Return per unit of downside risk	1.76	-1.98	+3.74
Omega ratio: Gain probability vs. loss probability	1.22	0.79	+0.43
Calmar ratio: Return relative to maximum drawdown	2.06	-0.96	+3.02
Martin ratio: Return relative to average drawdown	4.94	-1.84	+6.78

NRGU vs. SQQQ - Sharpe Ratio Comparison

The current NRGU Sharpe Ratio is 1.16, which is higher than the SQQQ Sharpe Ratio of -1.11. The chart below compares the historical Sharpe Ratios of NRGU and SQQQ, 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. SQQQ - Drawdown Comparison

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

Drawdown Indicators

	NRGU	SQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-57.50%	-100.00%	+42.50%
Max Drawdown (1Y) Largest decline over 1 year	-42.71%	-62.23%	+19.52%
Max Drawdown (3Y) Largest decline over 3 years	—	-92.51%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-97.27%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-99.98%	—
Current Drawdown Current decline from peak	-39.65%	-100.00%	+60.35%
Average Drawdown Average peak-to-trough decline	-25.68%	-92.73%	+67.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.80%	33.76%	-15.96%

Volatility

NRGU vs. SQQQ - Volatility Comparison

MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) and ProShares UltraPro Short QQQ (SQQQ) have volatilities of 25.61% and 26.22%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NRGU	SQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.61%	26.22%	-0.61%
Volatility (6M) Calculated over the trailing 6-month period	62.83%	43.25%	+19.58%
Volatility (1Y) Calculated over the trailing 1-year period	75.96%	53.47%	+22.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.05%	67.54%	+21.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.05%	66.45%	+22.60%

NRGU vs. SQQQ - Expense Ratio Comparison

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

Dividends

NRGU vs. SQQQ - Dividend Comparison

NRGU has not paid dividends to shareholders, while SQQQ's dividend yield for the trailing twelve months is around 10.12%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
SQQQ ProShares UltraPro Short QQQ	10.12%	9.36%	10.23%	8.01%	0.28%	0.00%	2.15%	2.92%	1.47%	0.14%

Frequently Asked Questions

Can I hold both NRGU and SQQQ in my portfolio?

NRGU and SQQQ have a correlation of 0.13, 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 SQQQ?

SQQQ has higher volatility (26.22%) compared to NRGU (25.61%). In terms of maximum drawdown, NRGU dropped -57.50% vs SQQQ's -100.00%.

Which ETF is better, NRGU or SQQQ?

On 1-year performance, NRGU leads with 87.62% vs -59.41% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, NRGU has been the lower-risk option at 25.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NRGU or SQQQ?

Over the 1-year period, NRGU has performed better with a 87.62% return vs -59.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NRGU or SQQQ?

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

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

SQQQ has the higher dividend yield at 10.12%, compared with 0.00% for NRGU.

What is the main difference between NRGU and SQQQ?

NRGU tracks Solactive MicroSectors U.S. Big Oil Index (-300%), while SQQQ tracks NASDAQ-100 Index (-300%). They also come from different issuers: BMO and ProShares.

Which has better risk-adjusted returns?

NRGU currently has the higher Sharpe Ratio (1.16 vs -1.11), 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.