OILD vs. NRGD

Last updated Aug 2, 2026

OILD (MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs) and NRGD (MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN) are both exchange-traded funds - OILD is a Inverse Equities fund tracking the Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%), while NRGD is a Leveraged Equities fund tracking the Solactive MicroSectors U.S. Big Oil Index (-300%). Both are passively managed. Over the past year, OILD returned -72.17% vs -80.85% for NRGD. Their correlation of 0.94 means they have usually moved in the same direction. Both charge a 0.95% expense ratio.

Performance

OILD vs. NRGD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) and MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OILD achieves a -64.92% return, which is significantly higher than NRGD's -76.50% return.

OILD

• 1D: -3.75%
• 1M: -31.76%
• 6M: -47.49%
• YTD: -64.92%
• 1Y: -72.17%
• 3Y*: -43.79%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -59.42%

NRGD

• 1D: -4.00%
• 1M: -39.03%
• 6M: -66.80%
• YTD: -76.50%
• 1Y: -80.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -72.99%

*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)
NRGD MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN	$596.57K	$512.25K	$693.52K
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs	$2.56M	$2.79M	$3.90M

OILD vs. NRGD - Yearly Performance Comparison

	2026 (YTD)	2025
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs	-64.92%	-26.60%
NRGD MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN	-76.50%	-35.40%

Correlation

The correlation between OILD and NRGD 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	0.94

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

OILD vs. NRGD - Sectors Allocation Comparison

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

Return for Risk

OILD vs. NRGD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

OILD

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

NRGD

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

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.

OILD vs. NRGD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) and MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD). 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.

	OILD	NRGD	Difference
Sharpe ratio: Return per unit of total volatility	-1.11	-1.06	-0.06
Sortino ratio: Return per unit of downside risk	-2.22	-2.32	+0.10
Omega ratio: Gain probability vs. loss probability	0.78	0.76	+0.02
Calmar ratio: Return relative to maximum drawdown	-0.95	-0.98	+0.03
Martin ratio: Return relative to average drawdown	-1.42	-1.50	+0.07

OILD vs. NRGD - Sharpe Ratio Comparison

The current OILD Sharpe Ratio is -1.11, which is comparable to the NRGD Sharpe Ratio of -1.06. The chart below compares the historical Sharpe Ratios of OILD and NRGD, 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

OILD vs. NRGD - Drawdown Comparison

The maximum OILD drawdown since its inception was -98.90%, which is greater than NRGD's maximum drawdown of -91.37%. Use the drawdown chart below to compare losses from any high point for OILD and NRGD.

Drawdown Indicators

	OILD	NRGD	Difference
Max Drawdown Largest peak-to-trough decline	-98.90%	-91.37%	-7.53%
Max Drawdown (1Y) Largest decline over 1 year	-74.53%	-82.12%	+7.59%
Max Drawdown (3Y) Largest decline over 3 years	-85.42%	—	—
Current Drawdown Current decline from peak	-98.86%	-91.37%	-7.49%
Average Drawdown Average peak-to-trough decline	-88.90%	-61.97%	-26.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	49.58%	53.39%	-3.81%

Volatility

OILD vs. NRGD - Volatility Comparison

The current volatility for MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) is 19.24%, while MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD) has a volatility of 23.01%. This indicates that OILD experiences smaller price fluctuations and is considered to be less risky than NRGD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OILD	NRGD	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.24%	23.01%	-3.77%
Volatility (6M) Calculated over the trailing 6-month period	50.43%	60.45%	-10.02%
Volatility (1Y) Calculated over the trailing 1-year period	63.51%	76.10%	-12.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	79.08%	87.89%	-8.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	79.08%	87.89%	-8.81%

OILD vs. NRGD - Expense Ratio Comparison

Both OILD and NRGD have an expense ratio of 0.95%.

Dividends

OILD vs. NRGD - Dividend Comparison

Neither OILD nor NRGD has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both OILD and NRGD in my portfolio?

With a correlation of 0.94, OILD and NRGD 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, OILD or NRGD?

NRGD has higher volatility (23.01%) compared to OILD (19.24%). In terms of maximum drawdown, OILD dropped -98.90% vs NRGD's -91.37%.

Which ETF is better, OILD or NRGD?

On 1-year performance, OILD leads with -72.17% vs -80.85% for NRGD. Both ETFs have the same 0.95% expense ratio. On volatility, OILD has been the lower-risk option at 19.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OILD or NRGD?

Over the 1-year period, OILD has performed better with a -72.17% return vs -80.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OILD or NRGD?

OILD and NRGD have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, OILD or NRGD?

OILD and NRGD have nearly identical dividend yields, around 0.00%.

What is the main difference between OILD and NRGD?

OILD is categorized as Inverse Equities, while NRGD is Leveraged Equities. OILD tracks Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%), while NRGD tracks Solactive MicroSectors U.S. Big Oil Index (-300%). They also come from different issuers: REX and BMO.

Which has better risk-adjusted returns?

NRGD currently has the higher Sharpe Ratio (-1.06 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.