BKHY vs. OILK
BKHY (BNY Mellon High Yield Beta ETF) and OILK (ProShares K-1 Free Crude Oil Strategy ETF) are both exchange-traded funds - BKHY is a High Yield Bonds fund tracking the Bloomberg US Corporate High Yield Index, while OILK is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index. Both are passively managed. Over the past 5 years, BKHY returned 4.19%/yr vs 17.28%/yr for OILK. At a 0.11 correlation, their price movements are largely independent. BKHY charges 0.22%/yr vs 0.68%/yr for OILK.
Performance
BKHY vs. OILK - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BKHY achieves a 1.83% return, which is significantly lower than OILK's 61.09% return.
BKHY
- 1D
- 0.10%
- 1M
- 0.54%
- YTD
- 1.83%
- 6M
- 2.02%
- 1Y
- 7.19%
- 3Y*
- 8.93%
- 5Y*
- 4.19%
- 10Y*
- —
OILK
- 1D
- -1.91%
- 1M
- -2.15%
- YTD
- 61.09%
- 6M
- 56.40%
- 1Y
- 56.95%
- 3Y*
- 18.39%
- 5Y*
- 17.28%
- 10Y*
- —
BKHY vs. OILK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BKHY BNY Mellon High Yield Beta ETF | 1.83% | 8.48% | 8.37% | 12.40% | -10.97% | 4.75% | 17.83% |
OILK ProShares K-1 Free Crude Oil Strategy ETF | 61.09% | -11.86% | 8.18% | -0.97% | 27.57% | 63.71% | 59.32% |
Correlation
The correlation between BKHY and OILK is -0.36, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Apr 27, 2020 | 0.11 |
The correlation between BKHY and OILK shifts across timeframes, from -0.36 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BKHY vs. OILK — Risk / Return Rank
BKHY
OILK
BKHY vs. OILK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon High Yield Beta ETF (BKHY) and ProShares K-1 Free Crude Oil Strategy ETF (OILK). 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.
| BKHY | OILK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.33 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.86 | 3.30 | -0.44 |
| Martin ratioReturn relative to average drawdown | 13.14 | 6.67 | +6.47 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| BKHY | OILK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.96 | 1.99 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | 0.58 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.90 | 0.11 | +0.79 |
Drawdowns
BKHY vs. OILK - Drawdown Comparison
The maximum BKHY drawdown since its inception was -15.89%, smaller than the maximum OILK drawdown of -83.76%. Use the drawdown chart below to compare losses from any high point for BKHY and OILK.
Loading charts...
Drawdown Indicators
| BKHY | OILK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.89% | -83.76% | +67.87% |
Max Drawdown (1Y)Largest decline over 1 year | -2.53% | -17.35% | +14.82% |
Max Drawdown (3Y)Largest decline over 3 years | -4.87% | -23.42% | +18.55% |
Max Drawdown (5Y)Largest decline over 5 years | -15.89% | -34.69% | +18.80% |
Current DrawdownCurrent decline from peak | -0.17% | -5.49% | +5.32% |
Average DrawdownAverage peak-to-trough decline | -2.97% | -32.60% | +29.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 8.57% | -8.02% |
Volatility
BKHY vs. OILK - Volatility Comparison
The current volatility for BNY Mellon High Yield Beta ETF (BKHY) is 1.12%, while ProShares K-1 Free Crude Oil Strategy ETF (OILK) has a volatility of 10.52%. This indicates that BKHY experiences smaller price fluctuations and is considered to be less risky than OILK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BKHY | OILK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 10.52% | -9.40% |
Volatility (6M)Calculated over the trailing 6-month period | 2.96% | 23.32% | -20.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.69% | 28.82% | -25.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.58% | 30.13% | -22.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.36% | 35.97% | -28.61% |
BKHY vs. OILK - Expense Ratio Comparison
BKHY has a 0.22% expense ratio, which is lower than OILK's 0.68% expense ratio.
Dividends
BKHY vs. OILK - Dividend Comparison
BKHY's dividend yield for the trailing twelve months is around 7.46%, less than OILK's 8.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BKHY BNY Mellon High Yield Beta ETF | 7.46% | 7.33% | 7.34% | 8.67% | 6.59% | 6.78% | 4.65% | 0.00% | 0.00% | 0.00% |
OILK ProShares K-1 Free Crude Oil Strategy ETF | 8.34% | 4.79% | 3.11% | 5.80% | 17.32% | 68.82% | 0.13% | 0.94% | 0.58% | 6.17% |
Frequently Asked Questions
BKHY and OILK have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILK has higher volatility (10.52%) compared to BKHY (1.12%). In terms of maximum drawdown, BKHY dropped -15.89% vs OILK's -83.76%.
On 5-year performance, OILK leads with 17.28% vs 4.19% for BKHY. On fees, BKHY is cheaper at 0.22% per year. On volatility, BKHY has been the lower-risk option at 1.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, OILK has performed better with a 17.28% return vs 4.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BKHY is cheaper with a 0.22% expense ratio, compared with 0.68% for OILK.
OILK has the higher dividend yield at 8.34%, compared with 7.46% for BKHY.
BKHY is categorized as High Yield Bonds, while OILK is Oil & Gas. BKHY tracks Bloomberg US Corporate High Yield Index, while OILK tracks Bloomberg Commodity Balanced WTI Crude Oil Index. They also come from different issuers: BNY Mellon and ProShares. Their fees differ too: 0.22% for BKHY and 0.68% for OILK.
OILK currently has the higher Sharpe Ratio (1.99 vs 1.96), 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.
Find the right allocation for BKHY and OILK
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer