SHNY vs. NRGD

Last updated Jun 4, 2026

SHNY (MicroSectors Gold 3X Leveraged ETN) and NRGD (MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN) are both exchange-traded funds - SHNY 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, SHNY returned 49.39% vs -80.85% for NRGD. At a 0.04 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

SHNY vs. NRGD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Gold 3X Leveraged ETN (SHNY) 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, SHNY achieves a -14.45% return, which is significantly higher than NRGD's -70.71% return.

SHNY

• 1D: -3.20%
• 1M: -7.37%
• YTD: -14.45%
• 6M: -10.44%
• 1Y: 49.39%
• 3Y*: 59.66%
• 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)

SHNY vs. NRGD - Yearly Performance Comparison

	2026 (YTD)	2025
SHNY MicroSectors Gold 3X Leveraged ETN	-14.45%	132.59%
NRGD MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN	-70.71%	-32.37%

Correlation

The correlation between SHNY and NRGD is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.02
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025	0.04

Return for Risk

SHNY vs. NRGD — Risk / Return Rank

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

SHNY

SHNY Risk / Return Rank: 21
SHNY Sharpe Ratio Rank: 19
SHNY Sortino Ratio Rank: 23
SHNY Omega Ratio Rank: 27
SHNY Calmar Ratio Rank: 20
SHNY Martin Ratio Rank: 18

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.

SHNY vs. NRGD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Gold 3X Leveraged ETN (SHNY) 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.

	SHNY	NRGD	Difference
Sharpe ratio: Return per unit of total volatility	0.63	-1.09	+1.72
Sortino ratio: Return per unit of downside risk	1.24	-2.47	+3.70
Omega ratio: Gain probability vs. loss probability	1.19	0.74	+0.44
Calmar ratio: Return relative to maximum drawdown	0.90	-0.98	+1.88
Martin ratio: Return relative to average drawdown	1.93	-1.53	+3.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHNY vs. NRGD - Sharpe Ratio Comparison

The current SHNY Sharpe Ratio is 0.63, which is higher than the NRGD Sharpe Ratio of -1.09. The chart below compares the historical Sharpe Ratios of SHNY 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

	SHNY	NRGD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.63	-1.09	+1.72
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	-0.81	+1.82

Drawdowns

SHNY vs. NRGD - Drawdown Comparison

The maximum SHNY drawdown since its inception was -54.99%, smaller than the maximum NRGD drawdown of -89.64%. Use the drawdown chart below to compare losses from any high point for SHNY and NRGD.

Drawdown Indicators

	SHNY	NRGD	Difference
Max Drawdown Largest peak-to-trough decline	-54.99%	-89.64%	+34.65%
Max Drawdown (1Y) Largest decline over 1 year	-54.99%	-82.88%	+27.89%
Max Drawdown (3Y) Largest decline over 3 years	-54.99%	—	—
Current Drawdown Current decline from peak	-54.99%	-89.24%	+34.25%
Average Drawdown Average peak-to-trough decline	-14.94%	-58.88%	+43.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.66%	52.87%	-27.21%

Volatility

SHNY vs. NRGD - Volatility Comparison

The current volatility for MicroSectors Gold 3X Leveraged ETN (SHNY) is 16.40%, while MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD) has a volatility of 29.27%. This indicates that SHNY 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

	SHNY	NRGD	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.40%	29.27%	-12.87%
Volatility (6M) Calculated over the trailing 6-month period	70.87%	58.52%	+12.35%
Volatility (1Y) Calculated over the trailing 1-year period	78.80%	74.26%	+4.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.36%	88.83%	-30.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	58.36%	88.83%	-30.47%

SHNY vs. NRGD - Expense Ratio Comparison

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

Dividends

SHNY vs. NRGD - Dividend Comparison

Neither SHNY nor NRGD has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SHNY and NRGD in my portfolio?

SHNY and NRGD have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SHNY or NRGD?

NRGD has higher volatility (29.27%) compared to SHNY (16.40%). In terms of maximum drawdown, SHNY dropped -54.99% vs NRGD's -89.64%.

Which ETF is better, SHNY or NRGD?

On 1-year performance, SHNY leads with 49.39% vs -80.85% for NRGD. Both ETFs have the same 0.95% expense ratio. On volatility, SHNY has been the lower-risk option at 16.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SHNY or NRGD?

Over the 1-year period, SHNY has performed better with a 49.39% return vs -80.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SHNY or NRGD?

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

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

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

What is the main difference between SHNY and NRGD?

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

Which has better risk-adjusted returns?

SHNY currently has the higher Sharpe Ratio (0.63 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.