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ProShares K-1 Free Crude Oil Strategy ETF (OILK) Sharpe Ratio: 0.96

ETF · Currency in USD · Last updated Jun 24, 2026

OILK is a passive ETF by ProShares tracking the investment results of the Bloomberg Commodity Balanced WTI Crude Oil Index. OILK launched on Sep 26, 2016 and has a 0.68% expense ratio.

OILK's Sharpe Ratio of 0.96 indicates that for each unit of volatility, it generates 0.96 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jun 24, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets. For how to read this number and when it can mislead, see Sharpe Ratio Explained.

OILK Sharpe Ratio Rank

OILK Sharpe Ratio Rank: 27.828
Below Average

OILK ranks above 27.8% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating below-average returns relative to volatility. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Returns may not adequately compensate for volatility taken
  • Consider smaller allocation given below-average risk-adjusted profile
  • Explore higher-ranked investments with better consistency
  • Assess whether the volatility profile aligns with your portfolio goals

OILK Sharpe Ratio Market Positioning

The chart shows OILK's Sharpe Ratio relative to all ETFs on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 0.84 or lower
  • Yellow zone (middle 50%): 0.84 to 2.16
  • Green zone (top 25%): 2.16 or higher
  • Top 1%: 6.99+
  • Median: 1.57 — half of all investments score higher

How it compares to other similar ETFs

The table compares ProShares K-1 Free Crude Oil Strategy ETF's Sharpe Ratio with other ETFs in the Oil & Gas category across multiple time periods, showing how OILK's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jun 24, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
UGAUnited States Gasoline Fund LP1.73
DBEInvesco DB Energy Fund1.27
USOICredit Suisse X-Links Crude Oil Shares Covered Call ETN1.07
DBOInvesco DB Oil Fund1.06
USOUnited States Oil Fund LP1.05
OILKProShares K-1 Free Crude Oil Strategy ETF0.96
BNOUnited States Brent Oil Fund LP0.95
USLUnited States 12 Month Oil Fund LP0.92
UCOProShares Ultra Bloomberg Crude Oil0.75
KOLDProShares UltraShort Bloomberg Natural Gas0.04

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows OILK's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when OILK consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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Sharpe Ratio Calculator

How does OILK fit in your portfolio?

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