SIJ vs. NRGU

Last updated Jul 12, 2026

SIJ (ProShares UltraShort Industrials) and NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) are both Leveraged Equities funds - SIJ tracks the DJ Global United States (All) / Industrials -IND (-200%) while NRGU tracks the Solactive MicroSectors U.S. Big Oil Index (-300%). Both are passively managed. Over the past year, SIJ returned -32.13% vs 64.35% for NRGU. At a correlation of -0.12, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

SIJ vs. NRGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Industrials (SIJ) 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, SIJ achieves a -28.55% return, which is significantly lower than NRGU's 90.17% return.

SIJ

• 1D: -1.30%
• 1M: -6.93%
• 6M: -21.99%
• YTD: -28.55%
• 1Y: -32.13%
• 3Y*: -28.25%
• 5Y*: -19.80%
• 10Y*: -27.81%

NRGU

• 1D: 0.64%
• 1M: -9.47%
• 6M: 68.00%
• YTD: 90.17%
• 1Y: 64.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SIJ vs. NRGU - Yearly Performance Comparison

	2026 (YTD)	2025
SIJ ProShares UltraShort Industrials	-28.55%	-22.31%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	90.17%	-30.00%

Correlation

The correlation between SIJ 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	-0.12

The correlation between SIJ and NRGU shifts across timeframes, from -0.12 (all time) to 0.02 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SIJ vs. NRGU — Risk / Return Rank

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

SIJ

SIJ Risk / Return Rank: 2
SIJ Sharpe Ratio Rank: 2
SIJ Sortino Ratio Rank: 2
SIJ Omega Ratio Rank: 2
SIJ Calmar Ratio Rank: 2
SIJ Martin Ratio Rank: 0

NRGU

NRGU Risk / Return Rank: 32
NRGU Sharpe Ratio Rank: 28
NRGU Sortino Ratio Rank: 34
NRGU Omega Ratio Rank: 33
NRGU Calmar Ratio Rank: 37
NRGU Martin Ratio Rank: 29

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.

SIJ vs. NRGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Industrials (SIJ) 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.

	SIJ	NRGU	Difference
Sharpe ratio: Return per unit of total volatility	-0.94	0.86	-1.80
Sortino ratio: Return per unit of downside risk	-1.29	1.50	-2.79
Omega ratio: Gain probability vs. loss probability	0.86	1.18	-0.33
Calmar ratio: Return relative to maximum drawdown	-0.85	1.48	-2.33
Martin ratio: Return relative to average drawdown	-1.64	3.34	-4.99

SIJ vs. NRGU - Sharpe Ratio Comparison

The current SIJ Sharpe Ratio is -0.94, which is lower than the NRGU Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of SIJ 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

SIJ vs. NRGU - Drawdown Comparison

The maximum SIJ drawdown since its inception was -99.93%, which is greater than NRGU's maximum drawdown of -57.50%. Use the drawdown chart below to compare losses from any high point for SIJ and NRGU.

Drawdown Indicators

	SIJ	NRGU	Difference
Max Drawdown Largest peak-to-trough decline	-99.93%	-57.50%	-42.43%
Max Drawdown (1Y) Largest decline over 1 year	-37.53%	-43.89%	+6.36%
Max Drawdown (3Y) Largest decline over 3 years	-72.61%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-78.65%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-96.42%	—	—
Current Drawdown Current decline from peak	-99.93%	-34.41%	-65.52%
Average Drawdown Average peak-to-trough decline	-86.79%	-26.06%	-60.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.35%	19.43%	-0.08%

Volatility

SIJ vs. NRGU - Volatility Comparison

The current volatility for ProShares UltraShort Industrials (SIJ) is 13.89%, while MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a volatility of 24.96%. This indicates that SIJ 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

	SIJ	NRGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.89%	24.96%	-11.07%
Volatility (6M) Calculated over the trailing 6-month period	28.40%	63.32%	-34.92%
Volatility (1Y) Calculated over the trailing 1-year period	33.95%	75.97%	-42.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.22%	88.65%	-52.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.65%	88.65%	-49.00%

SIJ vs. NRGU - Expense Ratio Comparison

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

Dividends

SIJ vs. NRGU - Dividend Comparison

SIJ's dividend yield for the trailing twelve months is around 4.93%, while NRGU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
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%
SIJ ProShares UltraShort Industrials	4.93%	5.38%	5.99%	4.90%	0.00%	0.00%	0.00%	1.49%	0.39%

Frequently Asked Questions

Can I hold both SIJ and NRGU in my portfolio?

SIJ 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, SIJ or NRGU?

NRGU has higher volatility (24.96%) compared to SIJ (13.89%). In terms of maximum drawdown, SIJ dropped -99.93% vs NRGU's -57.50%.

Which ETF is better, SIJ or NRGU?

On 1-year performance, NRGU leads with 64.35% vs -32.13% for SIJ. Both ETFs have the same 0.95% expense ratio. On volatility, SIJ has been the lower-risk option at 13.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIJ or NRGU?

Over the 1-year period, NRGU has performed better with a 64.35% return vs -32.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIJ or NRGU?

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

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

SIJ has the higher dividend yield at 4.93%, compared with 0.00% for NRGU.

What is the main difference between SIJ and NRGU?

SIJ tracks DJ Global United States (All) / Industrials -IND (-200%), while NRGU tracks Solactive MicroSectors U.S. Big Oil Index (-300%). They also come from different issuers: ProShares and BMO.

Which has better risk-adjusted returns?

NRGU currently has the higher Sharpe Ratio (0.86 vs -0.94), 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.