NRGU vs. XLE

Last updated Aug 2, 2026

NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) and XLE (State Street Energy Select Sector SPDR ETF) are both exchange-traded funds - NRGU is a Leveraged Equities fund tracking the Solactive MicroSectors U.S. Big Oil Index, while XLE is a Energy Equities fund tracking the Energy Select Sector Index. Both are passively managed. Over the past year, NRGU returned 166.43% vs 43.49% for XLE. Their correlation of 0.95 means they have usually moved in the same direction. NRGU charges 0.95%/yr vs 0.08%/yr for XLE.

Performance

NRGU vs. XLE - 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 State Street Energy Select Sector SPDR ETF (XLE). 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 XLE's 35.03% return.

NRGU

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

XLE

• 1D: 1.00%
• 1M: 11.89%
• 6M: 18.26%
• YTD: 35.03%
• 1Y: 43.49%
• 3Y*: 14.62%
• 5Y*: 23.67%
• 10Y*: 10.52%
• ALL TIME*: 8.87%

*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)
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	$4.57M	$4.13M	$3.95M
XLE State Street Energy Select Sector SPDR ETF	$1.70B	$1.73B	$1.97B

NRGU vs. XLE - Yearly Performance Comparison

	2026 (YTD)	2025
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	157.14%	-30.00%
XLE State Street Energy Select Sector SPDR ETF	35.03%	0.42%

Correlation

The correlation between NRGU and XLE is 0.94, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.94
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.95

The correlation between NRGU and XLE has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

NRGU vs. XLE - Sectors Allocation Comparison

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

Return for Risk

NRGU vs. XLE — 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

XLE

XLE Risk / Return Rank: 76
XLE Sharpe Ratio Rank: 84
XLE Sortino Ratio Rank: 79
XLE Omega Ratio Rank: 76
XLE Calmar Ratio Rank: 78
XLE Martin Ratio Rank: 62

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. XLE - 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 Energy Select Sector SPDR ETF (XLE). 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	XLE	Difference
Sharpe ratio: Return per unit of total volatility	1.92	1.95	-0.03
Sortino ratio: Return per unit of downside risk	2.31	2.53	-0.21
Omega ratio: Gain probability vs. loss probability	1.29	1.32	-0.03
Calmar ratio: Return relative to maximum drawdown	3.38	2.74	+0.64
Martin ratio: Return relative to average drawdown	7.59	7.32	+0.27

NRGU vs. XLE - Sharpe Ratio Comparison

The current NRGU Sharpe Ratio is 1.92, which is comparable to the XLE Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of NRGU and XLE, 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. XLE - Drawdown Comparison

The maximum NRGU drawdown since its inception was -57.50%, smaller than the maximum XLE drawdown of -71.26%. Use the drawdown chart below to compare losses from any high point for NRGU and XLE.

Drawdown Indicators

	NRGU	XLE	Difference
Max Drawdown Largest peak-to-trough decline	-57.50%	-71.26%	+13.76%
Max Drawdown (1Y) Largest decline over 1 year	-43.89%	-14.98%	-28.91%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.14%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.04%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-66.81%	—
Current Drawdown Current decline from peak	-11.31%	-4.13%	-7.18%
Average Drawdown Average peak-to-trough decline	-25.74%	-17.93%	-7.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.55%	5.62%	+13.93%

Volatility

NRGU vs. XLE - Volatility Comparison

MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a higher volatility of 22.83% compared to State Street Energy Select Sector SPDR ETF (XLE) at 5.85%. This indicates that NRGU's price experiences larger fluctuations and is considered to be riskier than XLE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NRGU	XLE	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.83%	5.85%	+16.98%
Volatility (6M) Calculated over the trailing 6-month period	64.33%	16.71%	+47.62%
Volatility (1Y) Calculated over the trailing 1-year period	77.39%	21.05%	+56.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	88.47%	25.77%	+62.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	88.47%	29.57%	+58.90%

NRGU vs. XLE - Expense Ratio Comparison

NRGU has a 0.95% expense ratio, which is higher than XLE's 0.08% expense ratio.

Dividends

NRGU vs. XLE - Dividend Comparison

NRGU has not paid dividends to shareholders, while XLE's dividend yield for the trailing twelve months is around 2.55%.

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%
XLE State Street Energy Select Sector SPDR ETF	2.55%	3.28%	3.36%	3.55%	3.68%	4.21%	5.62%	6.72%	3.54%	3.03%	2.26%	3.39%

Frequently Asked Questions

Can I hold both NRGU and XLE in my portfolio?

With a correlation of 0.94, NRGU and XLE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, NRGU or XLE?

NRGU has higher volatility (22.83%) compared to XLE (5.85%). In terms of maximum drawdown, NRGU dropped -57.50% vs XLE's -71.26%.

Which ETF is better, NRGU or XLE?

On 1-year performance, NRGU leads with 166.43% vs 43.49% for XLE. On fees, XLE is cheaper at 0.08% per year. On volatility, XLE has been the lower-risk option at 5.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NRGU or XLE?

Over the 1-year period, NRGU has performed better with a 166.43% return vs 43.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NRGU or XLE?

XLE is cheaper with a 0.08% expense ratio, compared with 0.95% for NRGU.

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

XLE has the higher dividend yield at 2.55%, compared with 0.00% for NRGU.

What is the main difference between NRGU and XLE?

NRGU is categorized as Leveraged Equities, while XLE is Energy Equities. NRGU tracks Solactive MicroSectors U.S. Big Oil Index, while XLE tracks Energy Select Sector Index. They also come from different issuers: BMO and State Street. Their fees differ too: 0.95% for NRGU and 0.08% for XLE.

Which has better risk-adjusted returns?

XLE currently has the higher Sharpe Ratio (1.95 vs 1.92), 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.