NRGU vs. TMF
NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) and TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) are both exchange-traded funds - NRGU is a Leveraged Equities fund tracking the Solactive MicroSectors U.S. Big Oil Index (-300%), while TMF is a Leveraged Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index (300%). Both are passively managed. Over the past year, NRGU returned 143.73% vs -7.67% for TMF. At a correlation of -0.17, they often move in opposite directions. NRGU charges 0.95%/yr vs 1.01%/yr for TMF.
Performance
NRGU vs. TMF - Performance Comparison
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Returns By Period
In the year-to-date period, NRGU achieves a 147.63% return, which is significantly higher than TMF's -11.93% return.
NRGU
- 1D
- 4.67%
- 1M
- 49.07%
- 6M
- 118.31%
- YTD
- 147.63%
- 1Y
- 143.73%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 47.61%
TMF
- 1D
- -1.01%
- 1M
- -10.16%
- 6M
- -9.78%
- YTD
- -11.93%
- 1Y
- -7.67%
- 3Y*
- -21.85%
- 5Y*
- -34.00%
- 10Y*
- -18.08%
- ALL TIME*
- -6.40%
NRGU vs. TMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN | 147.63% | -30.00% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | -11.93% | -4.80% |
Correlation
The correlation between NRGU and TMF is -0.28, 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 | -0.28 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025 | -0.17 |
The correlation between NRGU and TMF shifts across timeframes, from -0.28 (1 year) to -0.17 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NRGU vs. TMF — Risk / Return Rank
NRGU
TMF
NRGU vs. TMF - 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 20+ Year Treasury Bull 3X ETF (TMF). 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 | TMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.16 | ||
| Sortino ratioReturn per unit of downside risk | +2.51 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 0.98 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 3.29 | -0.29 | +3.58 |
| Martin ratioReturn relative to average drawdown | 7.35 | -0.58 | +7.93 |
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Drawdowns
NRGU vs. TMF - Drawdown Comparison
The maximum NRGU drawdown since its inception was -57.50%, smaller than the maximum TMF drawdown of -92.89%. Use the drawdown chart below to compare losses from any high point for NRGU and TMF.
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Drawdown Indicators
| NRGU | TMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.50% | -92.89% | +35.39% |
Max Drawdown (1Y)Largest decline over 1 year | -43.89% | -26.51% | -17.38% |
Max Drawdown (3Y)Largest decline over 3 years | — | -53.47% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -88.81% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -92.89% | — |
Current DrawdownCurrent decline from peak | -14.59% | -92.71% | +78.12% |
Average DrawdownAverage peak-to-trough decline | -25.98% | -43.98% | +18.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.63% | 13.32% | +6.31% |
Volatility
NRGU vs. TMF - Volatility Comparison
MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a higher volatility of 22.33% compared to Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) at 7.32%. This indicates that NRGU's price experiences larger fluctuations and is considered to be riskier than TMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NRGU | TMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.33% | 7.32% | +15.01% |
Volatility (6M)Calculated over the trailing 6-month period | 63.72% | 19.81% | +43.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 77.11% | 27.58% | +49.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 88.94% | 46.37% | +42.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 88.94% | 43.72% | +45.22% |
NRGU vs. TMF - Expense Ratio Comparison
NRGU has a 0.95% expense ratio, which is lower than TMF's 1.01% expense ratio.
Dividends
NRGU vs. TMF - Dividend Comparison
NRGU has not paid dividends to shareholders, while TMF's dividend yield for the trailing twelve months is around 4.48%.
| 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% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | 4.48% | 4.06% | 4.29% | 2.82% | 1.62% | 0.13% | 2.23% | 0.94% | 1.49% | 0.41% |
Frequently Asked Questions
NRGU and TMF have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NRGU has higher volatility (22.33%) compared to TMF (7.32%). In terms of maximum drawdown, NRGU dropped -57.50% vs TMF's -92.89%.
On 1-year performance, NRGU leads with 143.73% vs -7.67% for TMF. On fees, NRGU is cheaper at 0.95% per year. On volatility, TMF has been the lower-risk option at 7.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, NRGU has performed better with a 143.73% return vs -7.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NRGU is cheaper with a 0.95% expense ratio, compared with 1.01% for TMF.
TMF has the higher dividend yield at 4.48%, compared with 0.00% for NRGU.
NRGU is categorized as Leveraged Equities, while TMF is Leveraged Bonds. NRGU tracks Solactive MicroSectors U.S. Big Oil Index (-300%), while TMF tracks ICE U.S. Treasury 20+ Year Bond Index (300%). They also come from different issuers: BMO and Direxion. Their fees differ too: 0.95% for NRGU and 1.01% for TMF.
NRGU currently has the higher Sharpe Ratio (1.88 vs -0.28), 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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