QQUP vs. NRGU

Last updated Jun 4, 2026

QQUP (ProShares Ultra Top QQQ) and NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) are both Leveraged Equities funds - QQUP tracks the Nasdaq-100 Mega Index (200%) while NRGU tracks the Solactive MicroSectors U.S. Big Oil Index (-300%). Both are passively managed. At a correlation of -0.22, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

QQUP vs. NRGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Top QQQ (QQUP) and MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQUP achieves a 14.50% return, which is significantly lower than NRGU's 129.31% return.

QQUP

• 1D: -3.99%
• 1M: 7.57%
• YTD: 14.50%
• 6M: 8.63%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NRGU

• 1D: 2.53%
• 1M: -6.67%
• YTD: 129.31%
• 6M: 97.01%
• 1Y: 156.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQUP vs. NRGU - Yearly Performance Comparison

	2026 (YTD)	2025
QQUP ProShares Ultra Top QQQ	14.50%	44.45%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	129.31%	-1.05%

Correlation

The correlation between QQUP and NRGU is -0.22, 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 Jun 13, 2025	-0.22

Return for Risk

QQUP vs. NRGU — Risk / Return Rank

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

NRGU

NRGU Risk / Return Rank: 58
NRGU Sharpe Ratio Rank: 62
NRGU Sortino Ratio Rank: 48
NRGU Omega Ratio Rank: 48
NRGU Calmar Ratio Rank: 77
NRGU Martin Ratio Rank: 56

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.

QQUP vs. NRGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Top QQQ (QQUP) and MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU). 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.

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

Sharpe Ratios by Period

	QQUP	NRGU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.11	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.77	0.45	+1.32

Drawdowns

QQUP vs. NRGU - Drawdown Comparison

The maximum QQUP drawdown since its inception was -37.67%, smaller than the maximum NRGU drawdown of -57.50%. Use the drawdown chart below to compare losses from any high point for QQUP and NRGU.

Drawdown Indicators

	QQUP	NRGU	Difference
Max Drawdown Largest peak-to-trough decline	-37.67%	-57.50%	+19.83%
Max Drawdown (1Y) Largest decline over 1 year	—	-39.95%	—
Current Drawdown Current decline from peak	-6.42%	-20.91%	+14.49%
Average Drawdown Average peak-to-trough decline	-9.20%	-25.42%	+16.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	15.96%	—

Volatility

Volatility by Period

	QQUP	NRGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	31.63%	—
Volatility (6M) Calculated over the trailing 6-month period	—	61.27%	—
Volatility (1Y) Calculated over the trailing 1-year period	38.52%	75.15%	-36.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.52%	89.15%	-50.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.52%	89.15%	-50.63%

QQUP vs. NRGU - Expense Ratio Comparison

Both QQUP and NRGU have an expense ratio of 0.95%.

Dividends

QQUP vs. NRGU - Dividend Comparison

QQUP's dividend yield for the trailing twelve months is around 0.42%, while NRGU has not paid dividends to shareholders.

Position	TTM	2025
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	0.00%	0.00%
QQUP ProShares Ultra Top QQQ	0.42%	0.29%

Frequently Asked Questions

Can I hold both QQUP and NRGU in my portfolio?

QQUP and NRGU have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QQUP or NRGU?

Both ETFs have the same 0.95% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QQUP or NRGU?

QQUP and NRGU have the same expense ratio: 0.95% per year.

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

QQUP has the higher dividend yield at 0.42%, compared with 0.00% for NRGU.

What is the main difference between QQUP and NRGU?

QQUP tracks Nasdaq-100 Mega Index (200%), while NRGU tracks Solactive MicroSectors U.S. Big Oil Index (-300%). They also come from different issuers: ProShares and BMO.