SHNY vs. NRGU

Last updated Jun 26, 2026

SHNY (MicroSectors Gold 3X Leveraged ETN) and NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) are both exchange-traded funds - SHNY is a Leveraged Commodities fund managed by BMO, while NRGU is a Leveraged Equities fund tracking the Solactive MicroSectors U.S. Big Oil Index (-300%). Over the past year, SHNY returned 10.93% vs 87.62% for NRGU. At a correlation of -0.03, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

SHNY vs. NRGU - 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 Leveraged ETN (NRGU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SHNY achieves a -38.63% return, which is significantly lower than NRGU's 74.97% return.

SHNY

• 1D: 2.56%
• 1M: -31.98%
• YTD: -38.63%
• 6M: -46.08%
• 1Y: 10.93%
• 3Y*: 45.70%
• 5Y*: —
• 10Y*: —

NRGU

• 1D: 2.72%
• 1M: -13.53%
• YTD: 74.97%
• 6M: 78.13%
• 1Y: 87.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SHNY vs. NRGU - Yearly Performance Comparison

	2026 (YTD)	2025
SHNY MicroSectors Gold 3X Leveraged ETN	-38.63%	132.75%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	74.97%	-30.00%

Correlation

The correlation between SHNY and NRGU 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 20, 2025	-0.03

Return for Risk

SHNY vs. NRGU — Risk / Return Rank

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

SHNY

SHNY Risk / Return Rank: 13
SHNY Sharpe Ratio Rank: 11
SHNY Sortino Ratio Rank: 15
SHNY Omega Ratio Rank: 17
SHNY Calmar Ratio Rank: 11
SHNY Martin Ratio Rank: 11

NRGU

NRGU Risk / Return Rank: 38
NRGU Sharpe Ratio Rank: 36
NRGU Sortino Ratio Rank: 37
NRGU Omega Ratio Rank: 36
NRGU Calmar Ratio Rank: 47
NRGU Martin Ratio Rank: 36

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. NRGU - 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 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.

	SHNY	NRGU	Difference
Sharpe ratio: Return per unit of total volatility	0.13	1.16	-1.03
Sortino ratio: Return per unit of downside risk	0.73	1.76	-1.03
Omega ratio: Gain probability vs. loss probability	1.11	1.22	-0.11
Calmar ratio: Return relative to maximum drawdown	0.16	2.06	-1.90
Martin ratio: Return relative to average drawdown	0.37	4.94	-4.57

SHNY vs. NRGU - Sharpe Ratio Comparison

The current SHNY Sharpe Ratio is 0.13, which is lower than the NRGU Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of SHNY 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

SHNY vs. NRGU - Drawdown Comparison

The maximum SHNY drawdown since its inception was -68.52%, which is greater than NRGU's maximum drawdown of -57.50%. Use the drawdown chart below to compare losses from any high point for SHNY and NRGU.

Drawdown Indicators

	SHNY	NRGU	Difference
Max Drawdown Largest peak-to-trough decline	-68.52%	-57.50%	-11.02%
Max Drawdown (1Y) Largest decline over 1 year	-68.52%	-42.71%	-25.81%
Max Drawdown (3Y) Largest decline over 3 years	-68.52%	—	—
Current Drawdown Current decline from peak	-67.71%	-39.65%	-28.06%
Average Drawdown Average peak-to-trough decline	-15.77%	-25.68%	+9.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.58%	17.80%	+11.78%

Volatility

SHNY vs. NRGU - Volatility Comparison

MicroSectors Gold 3X Leveraged ETN (SHNY) and MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) have volatilities of 26.07% and 25.61%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHNY	NRGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.07%	25.61%	+0.46%
Volatility (6M) Calculated over the trailing 6-month period	74.74%	62.83%	+11.91%
Volatility (1Y) Calculated over the trailing 1-year period	82.02%	75.96%	+6.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.41%	89.05%	-29.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.41%	89.05%	-29.64%

SHNY vs. NRGU - Expense Ratio Comparison

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

Dividends

SHNY vs. NRGU - Dividend Comparison

Neither SHNY nor NRGU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SHNY and NRGU in my portfolio?

SHNY and NRGU 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 NRGU?

SHNY has higher volatility (26.07%) compared to NRGU (25.61%). In terms of maximum drawdown, SHNY dropped -68.52% vs NRGU's -57.50%.

Which ETF is better, SHNY or NRGU?

On 1-year performance, NRGU leads with 87.62% vs 10.93% for SHNY. Both ETFs have the same 0.95% expense ratio. On volatility, NRGU has been the lower-risk option at 25.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SHNY or NRGU?

Over the 1-year period, NRGU has performed better with a 87.62% return vs 10.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SHNY or NRGU?

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

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

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

What is the main difference between SHNY and NRGU?

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

Which has better risk-adjusted returns?

NRGU currently has the higher Sharpe Ratio (1.16 vs 0.13), 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.