NRGU vs. ULST
NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) and ULST (State Street Ultra Short Term Bond ETF) are both exchange-traded funds - NRGU is a Leveraged Equities fund tracking the Solactive MicroSectors U.S. Big Oil Index (-300%), while ULST is a Ultrashort Bond fund tracking the Bloomberg US Treasury Bellwether 3 Month Index. Both are passively managed. Over the past year, NRGU returned 171.19% vs 3.99% for ULST. At a correlation of -0.25, they often move in opposite directions. NRGU charges 0.95%/yr vs 0.20%/yr for ULST.
Performance
NRGU vs. ULST - Performance Comparison
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Returns By Period
In the year-to-date period, NRGU achieves a 125.94% return, which is significantly higher than ULST's 1.30% return.
NRGU
- 1D
- -1.47%
- 1M
- -6.46%
- YTD
- 125.94%
- 6M
- 93.16%
- 1Y
- 171.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ULST
- 1D
- 0.06%
- 1M
- 0.30%
- YTD
- 1.30%
- 6M
- 1.60%
- 1Y
- 3.99%
- 3Y*
- 4.96%
- 5Y*
- 3.53%
- 10Y*
- 2.70%
NRGU vs. ULST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN | 125.94% | -33.00% |
ULST State Street Ultra Short Term Bond ETF | 1.30% | 4.10% |
Correlation
The correlation between NRGU and ULST is -0.29, 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 | -0.29 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025 | -0.25 |
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Return for Risk
NRGU vs. ULST — Risk / Return Rank
NRGU
ULST
NRGU vs. ULST - 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 State Street Ultra Short Term Bond ETF (ULST). 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.
| NRGU | ULST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.83 | ||
| Sortino ratioReturn per unit of downside risk | -9.74 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 2.77 | -1.45 |
| Calmar ratioReturn relative to maximum drawdown | 4.31 | 16.92 | -12.60 |
| Martin ratioReturn relative to average drawdown | 10.74 | 87.50 | -76.76 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NRGU | ULST | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.31 | 6.14 | -3.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 3.68 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.87 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 1.50 | -1.07 |
Drawdowns
NRGU vs. ULST - Drawdown Comparison
The maximum NRGU drawdown since its inception was -57.50%, which is greater than ULST's maximum drawdown of -6.20%. Use the drawdown chart below to compare losses from any high point for NRGU and ULST.
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Drawdown Indicators
| NRGU | ULST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.50% | -6.20% | -51.30% |
Max Drawdown (1Y)Largest decline over 1 year | -39.95% | -0.24% | -39.71% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.54% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -1.22% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -6.20% | — |
Current DrawdownCurrent decline from peak | -22.07% | 0.00% | -22.07% |
Average DrawdownAverage peak-to-trough decline | -25.41% | -0.16% | -25.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.01% | 0.05% | +15.96% |
Volatility
NRGU vs. ULST - Volatility Comparison
MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a higher volatility of 31.62% compared to State Street Ultra Short Term Bond ETF (ULST) at 0.17%. This indicates that NRGU's price experiences larger fluctuations and is considered to be riskier than ULST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NRGU | ULST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 31.62% | 0.17% | +31.45% |
Volatility (6M)Calculated over the trailing 6-month period | 61.19% | 0.43% | +60.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.02% | 0.65% | +74.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 89.03% | 0.96% | +88.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.03% | 1.45% | +87.58% |
NRGU vs. ULST - Expense Ratio Comparison
NRGU has a 0.95% expense ratio, which is higher than ULST's 0.20% expense ratio.
Dividends
NRGU vs. ULST - Dividend Comparison
NRGU has not paid dividends to shareholders, while ULST's dividend yield for the trailing twelve months is around 4.29%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ULST State Street Ultra Short Term Bond ETF | 4.29% | 4.46% | 5.03% | 4.45% | 1.70% | 0.54% | 1.34% | 2.56% | 2.13% | 1.21% | 0.93% | 0.37% |
Frequently Asked Questions
NRGU and ULST have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NRGU has higher volatility (31.62%) compared to ULST (0.17%). In terms of maximum drawdown, NRGU dropped -57.50% vs ULST's -6.20%.
On 1-year performance, NRGU leads with 171.19% vs 3.99% for ULST. On fees, ULST is cheaper at 0.20% per year. On volatility, ULST has been the lower-risk option at 0.17%. 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 171.19% return vs 3.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ULST is cheaper with a 0.20% expense ratio, compared with 0.95% for NRGU.
ULST has the higher dividend yield at 4.29%, compared with 0.00% for NRGU.
NRGU is categorized as Leveraged Equities, while ULST is Ultrashort Bond. NRGU tracks Solactive MicroSectors U.S. Big Oil Index (-300%), while ULST tracks Bloomberg US Treasury Bellwether 3 Month Index. They also come from different issuers: BMO and State Street. Their fees differ too: 0.95% for NRGU and 0.20% for ULST.
ULST currently has the higher Sharpe Ratio (6.14 vs 2.31), 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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