OILU vs. UGLD

Last updated Jul 17, 2026

OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) and UGLD (Direxion Daily Gold Bull 2X ETF) are both Leveraged Commodities funds. At a correlation of -0.21, they often move in opposite directions. OILU charges 0.95%/yr vs 1.07%/yr for UGLD.

Performance

OILU vs. UGLD - 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 Direxion Daily Gold Bull 2X ETF (UGLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

OILU

• 1D: 1.95%
• 1M: 6.32%
• 6M: 46.10%
• YTD: 70.08%
• 1Y: 76.36%
• 3Y*: 3.52%
• 5Y*: —
• 10Y*: —

UGLD

• 1D: -3.49%
• 1M: -16.56%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OILU vs. UGLD - Yearly Performance Comparison

	2026 (YTD)
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	-4.79%
UGLD Direxion Daily Gold Bull 2X ETF	-21.26%

Correlation

The correlation between OILU and UGLD is -0.21, 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 (All Time) Calculated using the full available price history since May 28, 2026	-0.21

Return for Risk

OILU vs. UGLD — Risk / Return Rank

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

OILU

OILU Risk / Return Rank: 38
OILU Sharpe Ratio Rank: 41
OILU Sortino Ratio Rank: 40
OILU Omega Ratio Rank: 38
OILU Calmar Ratio Rank: 39
OILU Martin Ratio Rank: 34

UGLD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. UGLD - 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 Direxion Daily Gold Bull 2X ETF (UGLD). 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.

	OILU	UGLD	Difference
Sharpe ratio: Return per unit of total volatility	1.20	—	—
Sortino ratio: Return per unit of downside risk	1.73	—	—
Omega ratio: Gain probability vs. loss probability	1.21	—	—
Calmar ratio: Return relative to maximum drawdown	1.65	—	—
Martin ratio: Return relative to average drawdown	4.22	—	—

Drawdowns

OILU vs. UGLD - Drawdown Comparison

The maximum OILU drawdown since its inception was -81.00%, which is greater than UGLD's maximum drawdown of -24.99%. Use the drawdown chart below to compare losses from any high point for OILU and UGLD.

Drawdown Indicators

	OILU	UGLD	Difference
Max Drawdown Largest peak-to-trough decline	-81.00%	-24.99%	-56.01%
Max Drawdown (1Y) Largest decline over 1 year	-46.49%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-69.09%	—	—
Current Drawdown Current decline from peak	-54.26%	-24.99%	-29.27%
Average Drawdown Average peak-to-trough decline	-50.70%	-15.55%	-35.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.16%	—	—

Volatility

Volatility by Period

	OILU	UGLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.43%	—	—
Volatility (6M) Calculated over the trailing 6-month period	51.26%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	63.83%	53.50%	+10.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.94%	53.50%	+27.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.94%	53.50%	+27.44%

OILU vs. UGLD - Expense Ratio Comparison

OILU has a 0.95% expense ratio, which is lower than UGLD's 1.07% expense ratio.

Dividends

OILU vs. UGLD - Dividend Comparison

OILU has not paid dividends to shareholders, while UGLD's dividend yield for the trailing twelve months is around 0.24%.

Position	TTM
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	0.00%
UGLD Direxion Daily Gold Bull 2X ETF	0.24%

Frequently Asked Questions

Can I hold both OILU and UGLD in my portfolio?

OILU and UGLD have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, OILU or UGLD?

On fees, OILU is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, OILU or UGLD?

OILU is cheaper with a 0.95% expense ratio, compared with 1.07% for UGLD.

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

UGLD has the higher dividend yield at 0.24%, compared with 0.00% for OILU.

What is the main difference between OILU and UGLD?

They also come from different issuers: BMO and Direxion. Their fees differ too: 0.95% for OILU and 1.07% for UGLD.