YANG vs. NRGD

Last updated Jun 24, 2026

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 15.02% vs -72.26% for NRGD. At a 0.07 correlation, their price movements are largely independent. YANG charges 1.07%/yr vs 0.95%/yr for NRGD.

Performance

YANG vs. NRGD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily China 3x Bear Shares (YANG) 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, YANG achieves a 45.69% return, which is significantly higher than NRGD's -63.27% return.

YANG

• 1D: 4.97%
• 1M: 21.92%
• YTD: 45.69%
• 6M: 48.59%
• 1Y: 15.02%
• 3Y*: -43.76%
• 5Y*: -31.21%
• 10Y*: -37.83%

NRGD

• 1D: -2.47%
• 1M: 16.95%
• YTD: -63.27%
• 6M: -63.90%
• 1Y: -72.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

YANG vs. NRGD - Yearly Performance Comparison

	2026 (YTD)	2025
YANG Direxion Daily China 3x Bear Shares	45.69%	-41.67%
NRGD MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN	-63.27%	-35.40%

Correlation

The correlation between YANG 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 20, 2025	0.07

Return for Risk

YANG vs. NRGD — Risk / Return Rank

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

YANG

YANG Risk / Return Rank: 14
YANG Sharpe Ratio Rank: 12
YANG Sortino Ratio Rank: 15
YANG Omega Ratio Rank: 15
YANG Calmar Ratio Rank: 13
YANG Martin Ratio Rank: 12

NRGD

NRGD Risk / Return Rank: 1
NRGD Sharpe Ratio Rank: 1
NRGD Sortino Ratio Rank: 1
NRGD Omega Ratio Rank: 1
NRGD Calmar Ratio Rank: 1
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.

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.

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.

	YANG	NRGD	Difference
Sharpe ratio: Return per unit of total volatility	0.26	-0.97	+1.22
Sortino ratio: Return per unit of downside risk	0.77	-1.82	+2.59
Omega ratio: Gain probability vs. loss probability	1.09	0.81	+0.28
Calmar ratio: Return relative to maximum drawdown	0.43	-0.90	+1.33
Martin ratio: Return relative to average drawdown	0.72	-1.45	+2.17

YANG vs. NRGD - Sharpe Ratio Comparison

The current YANG Sharpe Ratio is 0.26, which is higher than the NRGD Sharpe Ratio of -0.97. The chart below compares the historical Sharpe Ratios of YANG 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.

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.

Drawdown Indicators

	YANG	NRGD	Difference
Max Drawdown Largest peak-to-trough decline	-99.98%	-89.64%	-10.34%
Max Drawdown (1Y) Largest decline over 1 year	-35.33%	-80.03%	+44.70%
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 Drawdown Current decline from peak	-99.97%	-86.51%	-13.46%
Average Drawdown Average peak-to-trough decline	-90.53%	-59.82%	-30.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.47%	49.93%	-28.46%

Volatility

YANG vs. NRGD - Volatility Comparison

The current volatility for Direxion Daily China 3x Bear Shares (YANG) is 17.73%, while MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD) has a volatility of 24.74%. 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.

Volatility by Period

	YANG	NRGD	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.73%	24.74%	-7.01%
Volatility (6M) Calculated over the trailing 6-month period	43.44%	59.20%	-15.76%
Volatility (1Y) Calculated over the trailing 1-year period	59.03%	75.34%	-16.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	94.55%	88.73%	+5.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.91%	88.73%	-6.82%

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 2.80%, 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	2.80%	4.03%	9.42%	3.66%	0.00%	0.00%	0.67%	1.54%	0.56%

Frequently Asked Questions

Can I hold both YANG and NRGD in my portfolio?

YANG 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, YANG or NRGD?

NRGD has higher volatility (24.74%) compared to YANG (17.73%). In terms of maximum drawdown, YANG dropped -99.98% vs NRGD's -89.64%.

Which ETF is better, YANG or NRGD?

On 1-year performance, YANG leads with 15.02% vs -72.26% for NRGD. On fees, NRGD is cheaper at 0.95% per year. On volatility, YANG has been the lower-risk option at 17.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YANG or NRGD?

Over the 1-year period, YANG has performed better with a 15.02% return vs -72.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YANG or NRGD?

NRGD is cheaper with a 0.95% expense ratio, compared with 1.07% for YANG.

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

YANG has the higher dividend yield at 2.80%, compared with 0.00% for NRGD.

What is the main difference between YANG and 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.

Which has better risk-adjusted returns?

YANG currently has the higher Sharpe Ratio (0.26 vs -0.97), 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.