RAVI vs. NRGU

Last updated Jul 17, 2026

RAVI (FlexShares Ultra-Short Income ETF) and NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) are both exchange-traded funds - RAVI is a Ultrashort Bond fund actively managed by FlexShares, while NRGU is a Leveraged Equities fund tracking the Solactive MicroSectors U.S. Big Oil Index (-300%). RAVI is actively managed, while NRGU is passively managed. Over the past year, RAVI returned 4.37% vs 119.26% for NRGU. At a correlation of -0.18, they often move in opposite directions. RAVI charges 0.25%/yr vs 0.95%/yr for NRGU.

Performance

RAVI vs. NRGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares Ultra-Short Income ETF (RAVI) 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, RAVI achieves a 2.02% return, which is significantly lower than NRGU's 118.00% return.

RAVI

• 1D: 0.02%
• 1M: 0.40%
• 6M: 1.90%
• YTD: 2.02%
• 1Y: 4.37%
• 3Y*: 5.14%
• 5Y*: 3.60%
• 10Y*: 2.70%

NRGU

• 1D: 3.84%
• 1M: 18.77%
• 6M: 86.19%
• YTD: 118.00%
• 1Y: 119.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RAVI vs. NRGU - Yearly Performance Comparison

	2026 (YTD)	2025
RAVI FlexShares Ultra-Short Income ETF	2.02%	4.25%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	118.00%	-30.00%

Correlation

The correlation between RAVI and NRGU is -0.25, 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	-0.25
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	-0.18

Return for Risk

RAVI vs. NRGU — Risk / Return Rank

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

RAVI

RAVI Risk / Return Rank: 99
RAVI Sharpe Ratio Rank: 100
RAVI Sortino Ratio Rank: 99
RAVI Omega Ratio Rank: 99
RAVI Calmar Ratio Rank: 99
RAVI Martin Ratio Rank: 99

NRGU

NRGU Risk / Return Rank: 55
NRGU Sharpe Ratio Rank: 58
NRGU Sortino Ratio Rank: 52
NRGU Omega Ratio Rank: 50
NRGU Calmar Ratio Rank: 69
NRGU Martin Ratio Rank: 47

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.

RAVI vs. NRGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares Ultra-Short Income ETF (RAVI) 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.

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.

	RAVI	NRGU	Difference
Sharpe ratio: Return per unit of total volatility	10.72	1.56	+9.16
Sortino ratio: Return per unit of downside risk	23.28	2.08	+21.21
Omega ratio: Gain probability vs. loss probability	5.21	1.26	+3.95
Calmar ratio: Return relative to maximum drawdown	37.55	2.73	+34.82
Martin ratio: Return relative to average drawdown	214.47	6.13	+208.34

RAVI vs. NRGU - Sharpe Ratio Comparison

The current RAVI Sharpe Ratio is 10.72, which is higher than the NRGU Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of RAVI and NRGU, 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

RAVI vs. NRGU - Drawdown Comparison

The maximum RAVI drawdown since its inception was -3.72%, smaller than the maximum NRGU drawdown of -57.50%. Use the drawdown chart below to compare losses from any high point for RAVI and NRGU.

Drawdown Indicators

	RAVI	NRGU	Difference
Max Drawdown Largest peak-to-trough decline	-3.72%	-57.50%	+53.78%
Max Drawdown (1Y) Largest decline over 1 year	-0.12%	-43.89%	+43.77%
Max Drawdown (3Y) Largest decline over 3 years	-0.36%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-3.28%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-3.72%	—	—
Current Drawdown Current decline from peak	0.00%	-24.81%	+24.81%
Average Drawdown Average peak-to-trough decline	-0.17%	-26.06%	+25.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	19.53%	-19.51%

Volatility

RAVI vs. NRGU - Volatility Comparison

The current volatility for FlexShares Ultra-Short Income ETF (RAVI) is 0.13%, while MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a volatility of 23.48%. This indicates that RAVI experiences smaller price fluctuations and is considered to be less risky than NRGU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RAVI	NRGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.13%	23.48%	-23.35%
Volatility (6M) Calculated over the trailing 6-month period	0.31%	63.97%	-63.66%
Volatility (1Y) Calculated over the trailing 1-year period	0.41%	76.98%	-76.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.41%	89.07%	-87.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.28%	89.07%	-87.79%

RAVI vs. NRGU - Expense Ratio Comparison

RAVI has a 0.25% expense ratio, which is lower than NRGU's 0.95% expense ratio.

Dividends

RAVI vs. NRGU - Dividend Comparison

RAVI's dividend yield for the trailing twelve months is around 4.33%, while NRGU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
RAVI FlexShares Ultra-Short Income ETF	4.33%	4.59%	5.34%	4.55%	1.70%	0.90%	1.29%	2.53%	2.22%	1.28%	0.90%

Frequently Asked Questions

Can I hold both RAVI and NRGU in my portfolio?

RAVI and NRGU have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RAVI or NRGU?

NRGU has higher volatility (23.48%) compared to RAVI (0.13%). In terms of maximum drawdown, RAVI dropped -3.72% vs NRGU's -57.50%.

Which ETF is better, RAVI or NRGU?

On 1-year performance, NRGU leads with 119.26% vs 4.37% for RAVI. On fees, RAVI is cheaper at 0.25% per year. On volatility, RAVI has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RAVI or NRGU?

Over the 1-year period, NRGU has performed better with a 119.26% return vs 4.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RAVI or NRGU?

RAVI is cheaper with a 0.25% expense ratio, compared with 0.95% for NRGU.

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

RAVI has the higher dividend yield at 4.33%, compared with 0.00% for NRGU.

What is the main difference between RAVI and NRGU?

RAVI is categorized as Ultrashort Bond, while NRGU is Leveraged Equities. They also come from different issuers: FlexShares and BMO. Their fees differ too: 0.25% for RAVI and 0.95% for NRGU.

Which has better risk-adjusted returns?

RAVI currently has the higher Sharpe Ratio (10.72 vs 1.56), 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.