YANG vs. NRGD
YANG (Direxion Daily China 3x Bear Shares) and NRGD (MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN) are both Leveraged Equities funds - YANG tracks the FTSE China 50 Index (-300%) while NRGD tracks the Solactive MicroSectors U.S. Big Oil Index (-300%). Both are passively managed. Over the past year, YANG returned -12.94% vs -80.85% for NRGD. At a 0.05 correlation, their price movements are largely independent. YANG charges 1.07%/yr vs 0.95%/yr for NRGD.
Performance
YANG vs. NRGD - Performance Comparison
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Returns By Period
In the year-to-date period, YANG achieves a 18.42% return, which is significantly higher than NRGD's -70.71% return.
YANG
- 1D
- 6.57%
- 1M
- 6.76%
- YTD
- 18.42%
- 6M
- 23.43%
- 1Y
- -12.94%
- 3Y*
- -47.01%
- 5Y*
- -33.76%
- 10Y*
- -38.75%
NRGD
- 1D
- -5.59%
- 1M
- -6.21%
- YTD
- -70.71%
- 6M
- -67.28%
- 1Y
- -80.85%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
YANG vs. NRGD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
YANG Direxion Daily China 3x Bear Shares | 18.42% | -37.99% |
NRGD MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN | -70.71% | -32.37% |
Correlation
The correlation between YANG and NRGD is -0.03, 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 | -0.03 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025 | 0.05 |
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Return for Risk
YANG vs. NRGD — Risk / Return Rank
YANG
NRGD
YANG vs. NRGD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily China 3x Bear Shares (YANG) 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.
| YANG | NRGD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.87 | ||
| Sortino ratioReturn per unit of downside risk | +2.55 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 0.74 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.33 | -0.98 | +0.64 |
| Martin ratioReturn relative to average drawdown | -0.53 | -1.53 | +1.00 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| YANG | NRGD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.22 | -1.09 | +0.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.36 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.47 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.49 | -0.81 | +0.32 |
Drawdowns
YANG vs. NRGD - Drawdown Comparison
The maximum YANG drawdown since its inception was -99.98%, which is greater than NRGD's maximum drawdown of -89.64%. Use the drawdown chart below to compare losses from any high point for YANG and NRGD.
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Drawdown Indicators
| YANG | NRGD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -89.64% | -10.34% |
Max Drawdown (1Y)Largest decline over 1 year | -38.85% | -82.88% | +44.03% |
Max Drawdown (3Y)Largest decline over 3 years | -94.02% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -97.38% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.53% | — | — |
Current DrawdownCurrent decline from peak | -99.97% | -89.24% | -10.73% |
Average DrawdownAverage peak-to-trough decline | -90.52% | -58.88% | -31.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.12% | 52.87% | -26.75% |
Volatility
YANG vs. NRGD - Volatility Comparison
The current volatility for Direxion Daily China 3x Bear Shares (YANG) is 21.22%, while MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD) has a volatility of 29.27%. This indicates that YANG 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.
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Volatility by Period
| YANG | NRGD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.22% | 29.27% | -8.05% |
Volatility (6M)Calculated over the trailing 6-month period | 42.63% | 58.52% | -15.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.83% | 74.26% | -15.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 94.44% | 88.83% | +5.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.12% | 88.83% | -6.71% |
YANG vs. NRGD - Expense Ratio Comparison
YANG has a 1.07% expense ratio, which is higher than NRGD's 0.95% expense ratio.
Dividends
YANG vs. NRGD - Dividend Comparison
YANG's dividend yield for the trailing twelve months is around 3.45%, while NRGD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
NRGD MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
YANG Direxion Daily China 3x Bear Shares | 3.45% | 4.03% | 9.42% | 3.66% | 0.00% | 0.00% | 0.67% | 1.54% | 0.56% |
Frequently Asked Questions
YANG and NRGD have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NRGD has higher volatility (29.27%) compared to YANG (21.22%). In terms of maximum drawdown, YANG dropped -99.98% vs NRGD's -89.64%.
On 1-year performance, YANG leads with -12.94% vs -80.85% for NRGD. On fees, NRGD is cheaper at 0.95% per year. On volatility, YANG has been the lower-risk option at 21.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, YANG has performed better with a -12.94% return vs -80.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NRGD is cheaper with a 0.95% expense ratio, compared with 1.07% for YANG.
YANG has the higher dividend yield at 3.45%, compared with 0.00% for NRGD.
YANG tracks FTSE China 50 Index (-300%), while NRGD tracks Solactive MicroSectors U.S. Big Oil Index (-300%). They also come from different issuers: Direxion and BMO. Their fees differ too: 1.07% for YANG and 0.95% for NRGD.
YANG currently has the higher Sharpe Ratio (-0.22 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.
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