SDOW vs. NRGU

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares UltraPro Short Dow30 (SDOW) and MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU).

SDOW and NRGU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SDOW is a passively managed fund by ProShares that tracks the performance of the Dow Jones Industrial Average (-300%). It was launched on Feb 11, 2010. NRGU is a passively managed fund by BMO that tracks the performance of the Solactive MicroSectors U.S. Big Oil Index (-300%). It was launched on Apr 9, 2019. Both SDOW and NRGU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SDOW vs. NRGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro Short Dow30 (SDOW) and MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU). The values are adjusted to include any dividend payments, if applicable.

SDOW vs. NRGU - Yearly Performance Comparison

	2026 (YTD)	2025
SDOW ProShares UltraPro Short Dow30	9.17%	-26.61%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	139.49%	-33.00%

Returns By Period

In the year-to-date period, SDOW achieves a 9.17% return, which is significantly lower than NRGU's 139.49% return.

SDOW

• 1D: -1.59%
• 1M: 14.93%
• YTD: 9.17%
• 6M: -0.78%
• 1Y: -30.97%
• 3Y*: -27.19%
• 5Y*: -23.11%
• 10Y*: -36.51%

NRGU

• 1D: -10.75%
• 1M: 24.81%
• YTD: 139.49%
• 6M: 107.68%
• 1Y: 69.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SDOW vs. NRGU - Expense Ratio Comparison

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

SDOW

ProShares UltraPro Short Dow30

NRGU

MicroSectors U.S. Big Oil Index 3X Leveraged ETN

Return for Risk

SDOW vs. NRGU — Risk / Return Rank

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

SDOW

SDOW Risk / Return Rank: 4
SDOW Sharpe Ratio Rank: 3
SDOW Sortino Ratio Rank: 3
SDOW Omega Ratio Rank: 3
SDOW Calmar Ratio Rank: 4
SDOW Martin Ratio Rank: 7

NRGU

NRGU Risk / Return Rank: 45
NRGU Sharpe Ratio Rank: 40
NRGU Sortino Ratio Rank: 54
NRGU Omega Ratio Rank: 54
NRGU Calmar Ratio Rank: 47
NRGU Martin Ratio Rank: 30

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.

SDOW vs. NRGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short Dow30 (SDOW) 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.

	SDOW	NRGU	Difference
Sharpe ratio Return per unit of total volatility	-0.62	0.79	-1.41
Sortino ratio Return per unit of downside risk	-0.66	1.48	-2.14
Omega ratio Gain probability vs. loss probability	0.91	1.21	-0.30
Calmar ratio Return relative to maximum drawdown	-0.52	1.29	-1.82
Martin ratio Return relative to average drawdown	-0.68	2.64	-3.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SDOW vs. NRGU - Sharpe Ratio Comparison

The current SDOW Sharpe Ratio is -0.62, which is lower than the NRGU Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of SDOW and NRGU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SDOW	NRGU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.62	0.79	-1.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.53	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.70	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.76	0.61	-1.37

Correlation

The correlation between SDOW and NRGU is -0.19. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

SDOW vs. NRGU - Dividend Comparison

SDOW's dividend yield for the trailing twelve months is around 4.26%, while NRGU has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SDOW ProShares UltraPro Short Dow30	4.26%	5.80%	8.30%	5.38%	0.36%	0.00%	0.52%	2.17%	1.23%	0.09%
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%

Drawdowns

SDOW vs. NRGU - Drawdown Comparison

The maximum SDOW drawdown since its inception was -99.96%, which is greater than NRGU's maximum drawdown of -57.50%. Use the drawdown chart below to compare losses from any high point for SDOW and NRGU.

Drawdown Indicators

	SDOW	NRGU	Difference
Max Drawdown Largest peak-to-trough decline	-99.96%	-57.50%	-42.46%
Max Drawdown (1Y) Largest decline over 1 year	-58.80%	-55.24%	-3.56%
Max Drawdown (5Y) Largest decline over 5 years	-80.95%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-99.20%	—	—
Current Drawdown Current decline from peak	-99.95%	-17.40%	-82.55%
Average Drawdown Average peak-to-trough decline	-89.32%	-25.38%	-63.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	45.54%	27.12%	+18.42%

Volatility

SDOW vs. NRGU - Volatility Comparison

The current volatility for ProShares UltraPro Short Dow30 (SDOW) is 14.87%, while MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a volatility of 23.31%. This indicates that SDOW 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

	SDOW	NRGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.87%	23.31%	-8.44%
Volatility (6M) Calculated over the trailing 6-month period	27.69%	50.27%	-22.58%
Volatility (1Y) Calculated over the trailing 1-year period	50.23%	88.18%	-37.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.15%	87.12%	-42.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.04%	87.12%	-35.08%