BTG vs. OIH

Last updated Jun 4, 2026

BTG (B2Gold Corp.) is a stock, while OIH (VanEck Vectors Oil Services ETF) is Energy Equities fund tracking the MVIS US Listed Oil Services 25 Index. Over the past 10 years, BTG returned 11.01%/yr vs -0.90%/yr for OIH. At a 0.19 correlation, their price movements are largely independent.

Performance

BTG vs. OIH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in B2Gold Corp. (BTG) and VanEck Vectors Oil Services ETF (OIH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTG achieves a 1.28% return, which is significantly lower than OIH's 51.43% return. Over the past 10 years, BTG has outperformed OIH with an annualized return of 11.01%, while OIH has yielded a comparatively lower -0.90% annualized return.

BTG

• 1D: -3.60%
• 1M: 6.31%
• YTD: 1.28%
• 6M: 1.50%
• 1Y: 29.11%
• 3Y*: 10.74%
• 5Y*: 2.15%
• 10Y*: 11.01%

OIH

• 1D: 0.18%
• 1M: -2.77%
• YTD: 51.43%
• 6M: 43.87%
• 1Y: 92.96%
• 3Y*: 18.56%
• 5Y*: 13.62%
• 10Y*: -0.90%

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

BTG vs. OIH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BTG B2Gold Corp.	1.28%	88.95%	-18.07%	-7.22%	-5.13%	-26.97%	42.35%	37.72%	-5.81%	30.80%
OIH VanEck Vectors Oil Services ETF	51.43%	6.81%	-10.53%	3.20%	66.17%	21.22%	-41.19%	-3.54%	-45.03%	-19.66%

Correlation

The correlation between BTG and OIH is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (10Y) Calculated over the trailing 10-year period	0.15
Correlation (All Time) Calculated using the full available price history since Jun 25, 2008	0.19

The correlation between BTG and OIH shifts across timeframes, from 0.15 (10 years) to 0.28 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

BTG vs. OIH — Risk / Return Rank

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

BTG

BTG Risk / Return Rank: 56
BTG Sharpe Ratio Rank: 59
BTG Sortino Ratio Rank: 54
BTG Omega Ratio Rank: 54
BTG Calmar Ratio Rank: 58
BTG Martin Ratio Rank: 56

OIH

OIH Risk / Return Rank: 89
OIH Sharpe Ratio Rank: 90
OIH Sortino Ratio Rank: 85
OIH Omega Ratio Rank: 79
OIH Calmar Ratio Rank: 96
OIH Martin Ratio Rank: 93

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.

BTG vs. OIH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for B2Gold Corp. (BTG) and VanEck Vectors Oil Services ETF (OIH). 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.

	BTG	OIH	Difference
Sharpe ratio: Return per unit of total volatility	0.54	3.19	-2.65
Sortino ratio: Return per unit of downside risk	1.05	3.87	-2.83
Omega ratio: Gain probability vs. loss probability	1.13	1.48	-0.34
Calmar ratio: Return relative to maximum drawdown	0.80	9.80	-9.00
Martin ratio: Return relative to average drawdown	1.63	24.42	-22.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTG vs. OIH - Sharpe Ratio Comparison

The current BTG Sharpe Ratio is 0.54, which is lower than the OIH Sharpe Ratio of 3.19. The chart below compares the historical Sharpe Ratios of BTG and OIH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BTG	OIH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.54	3.19	-2.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.05	0.37	-0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	-0.02	+0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	0.01	+0.13

Drawdowns

BTG vs. OIH - Drawdown Comparison

The maximum BTG drawdown since its inception was -85.97%, smaller than the maximum OIH drawdown of -94.45%. Use the drawdown chart below to compare losses from any high point for BTG and OIH.

Drawdown Indicators

	BTG	OIH	Difference
Max Drawdown Largest peak-to-trough decline	-85.97%	-94.45%	+8.48%
Max Drawdown (1Y) Largest decline over 1 year	-36.63%	-9.54%	-27.09%
Max Drawdown (3Y) Largest decline over 3 years	-36.86%	-43.80%	+6.94%
Max Drawdown (5Y) Largest decline over 5 years	-48.92%	-43.80%	-5.12%
Max Drawdown (10Y) Largest decline over 10 years	-63.35%	-89.62%	+26.27%
Current Drawdown Current decline from peak	-26.45%	-61.60%	+35.15%
Average Drawdown Average peak-to-trough decline	-38.36%	-48.84%	+10.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.89%	3.82%	+14.07%

Volatility

BTG vs. OIH - Volatility Comparison

B2Gold Corp. (BTG) has a higher volatility of 17.83% compared to VanEck Vectors Oil Services ETF (OIH) at 7.95%. This indicates that BTG's price experiences larger fluctuations and is considered to be riskier than OIH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTG	OIH	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.83%	7.95%	+9.88%
Volatility (6M) Calculated over the trailing 6-month period	43.24%	20.36%	+22.88%
Volatility (1Y) Calculated over the trailing 1-year period	54.41%	29.49%	+24.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.57%	36.79%	+7.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.19%	42.41%	+5.78%

Dividends

BTG vs. OIH - Dividend Comparison

BTG's dividend yield for the trailing twelve months is around 1.76%, more than OIH's 1.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BTG B2Gold Corp.	1.76%	1.77%	6.56%	5.06%	4.48%	4.07%	1.96%	0.25%	0.00%	0.00%	0.00%	0.00%
OIH VanEck Vectors Oil Services ETF	1.13%	1.71%	2.01%	1.36%	0.95%	0.98%	1.23%	2.10%	2.13%	2.60%	1.40%	2.39%

Frequently Asked Questions

Can I hold both BTG and OIH in my portfolio?

BTG and OIH have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTG or OIH?

BTG has higher volatility (17.83%) compared to OIH (7.95%). In terms of maximum drawdown, BTG dropped -85.97% vs OIH's -94.45%.

Which has better risk-adjusted returns?

OIH currently has the higher Sharpe Ratio (3.19 vs 0.54), 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.