You can use tikz package. Please consider the following code:
\documentclass{article}
\usepackage{tikz}
\usetikzlibrary{calc}
\tikzstyle{every picture}+=[remember picture]
\begin{document}
\begin{equation}
N_0\oplus \tikz[baseline]{\node[fill=blue!20,circle,inner sep=1pt,anchor=base] (t1){$G_1$}} \quad
N_1\oplus \tikz[baseline]{\node[fill=red!20,circle,inner sep=1pt,anchor=base] (t2){$G_1$}}
\end{equation}
\begin{tikzpicture}[overlay]
\draw[-latex](t2.90)to[in=60,out=120]node[midway,above]{$u$}(t1);
\end{tikzpicture}
\end{document}
This is the output:

Note: You can easily change or remove nodes color.
\begin{equation}
N_0\oplus \tikz[baseline]{\node[fill=none,draw=none,inner sep=1pt,anchor=base] (t1){$G_1$}} \quad
N_1\oplus \tikz[baseline]{\node[fill=none,draw=none,inner sep=1pt,anchor=base] (t2){$G_1$}}
\end{equation}

You could also change the output and input angle and position of arrow, by changing the following line in the code:
\draw[-latex]($(t2)+(-1mm,2mm)$)to[in=60,out=120]node[midway,above]{$u$}($(t1)+(-1mm,2mm)$);

tikz-cdsolution acceptable to you? – CarLaTeX Aug 04 '19 at 05:06