OILU vs. NRGD

Last updated Jun 4, 2026

OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) and NRGD (MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN) are both exchange-traded funds - OILU is a Leveraged Commodities fund managed by BMO, while NRGD is a Leveraged Equities fund tracking the Solactive MicroSectors U.S. Big Oil Index (-300%). Over the past year, OILU returned 115.83% vs -80.85% for NRGD. At a correlation of -0.94, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

OILU vs. NRGD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) 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, OILU achieves a 96.53% return, which is significantly higher than NRGD's -70.71% return.

OILU

• 1D: 3.64%
• 1M: -10.84%
• YTD: 96.53%
• 6M: 77.49%
• 1Y: 115.83%
• 3Y*: 10.60%
• 5Y*: —
• 10Y*: —

NRGD

• 1D: -5.59%
• 1M: -6.21%
• YTD: -70.71%
• 6M: -67.28%
• 1Y: -80.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OILU vs. NRGD - Yearly Performance Comparison

	2026 (YTD)	2025
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	96.53%	-30.65%
NRGD MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN	-70.71%	-32.37%

Correlation

The correlation between OILU and NRGD is -0.93, 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	-0.93
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025	-0.94

The correlation between OILU and NRGD has been stable across timeframes, ranging from -0.94 to -0.93 - a consistent structural relationship.

OILU vs. NRGD - Sectors Allocation Comparison

Sectors	OILU	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

OILU vs. NRGD — Risk / Return Rank

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

OILU

OILU Risk / Return Rank: 52
OILU Sharpe Ratio Rank: 54
OILU Sortino Ratio Rank: 45
OILU Omega Ratio Rank: 42
OILU Calmar Ratio Rank: 69
OILU Martin Ratio Rank: 51

NRGD

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

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.

OILU vs. NRGD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) 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.

	OILU	NRGD	Difference
Sharpe ratio: Return per unit of total volatility	1.87	-1.09	+2.97
Sortino ratio: Return per unit of downside risk	2.25	-2.47	+4.72
Omega ratio: Gain probability vs. loss probability	1.28	0.74	+0.53
Calmar ratio: Return relative to maximum drawdown	3.48	-0.98	+4.45
Martin ratio: Return relative to average drawdown	8.74	-1.53	+10.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OILU vs. NRGD - Sharpe Ratio Comparison

The current OILU Sharpe Ratio is 1.87, which is higher than the NRGD Sharpe Ratio of -1.09. The chart below compares the historical Sharpe Ratios of OILU 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.

Sharpe Ratios by Period

	OILU	NRGD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.87	-1.09	+2.97
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	-0.81	+0.98

Drawdowns

OILU vs. NRGD - Drawdown Comparison

The maximum OILU drawdown since its inception was -81.00%, smaller than the maximum NRGD drawdown of -89.64%. Use the drawdown chart below to compare losses from any high point for OILU and NRGD.

Drawdown Indicators

	OILU	NRGD	Difference
Max Drawdown Largest peak-to-trough decline	-81.00%	-89.64%	+8.64%
Max Drawdown (1Y) Largest decline over 1 year	-33.51%	-82.88%	+49.37%
Max Drawdown (3Y) Largest decline over 3 years	-69.09%	—	—
Current Drawdown Current decline from peak	-47.14%	-89.24%	+42.10%
Average Drawdown Average peak-to-trough decline	-50.59%	-58.88%	+8.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.32%	52.87%	-39.55%

Volatility

OILU vs. NRGD - Volatility Comparison

The current volatility for MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) is 25.14%, while MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD) has a volatility of 29.27%. This indicates that OILU 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

	OILU	NRGD	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.14%	29.27%	-4.13%
Volatility (6M) Calculated over the trailing 6-month period	49.94%	58.52%	-8.58%
Volatility (1Y) Calculated over the trailing 1-year period	62.23%	74.26%	-12.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	81.16%	88.83%	-7.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.16%	88.83%	-7.67%

OILU vs. NRGD - Expense Ratio Comparison

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

Dividends

OILU vs. NRGD - Dividend Comparison

Neither OILU nor NRGD has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both OILU and NRGD in my portfolio?

OILU and NRGD have a correlation of -0.93, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OILU or NRGD?

NRGD has higher volatility (29.27%) compared to OILU (25.14%). In terms of maximum drawdown, OILU dropped -81.00% vs NRGD's -89.64%.

Which ETF is better, OILU or NRGD?

On 1-year performance, OILU leads with 115.83% vs -80.85% for NRGD. Both ETFs have the same 0.95% expense ratio. On volatility, OILU has been the lower-risk option at 25.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OILU or NRGD?

Over the 1-year period, OILU has performed better with a 115.83% return vs -80.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OILU or NRGD?

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

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

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

What is the main difference between OILU and NRGD?

OILU is categorized as Leveraged Commodities, while NRGD is Leveraged Equities.

Which has better risk-adjusted returns?

OILU currently has the higher Sharpe Ratio (1.87 vs -1.09), 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.