CA vs. OILK
CA (Xtrackers California Municipal Bond ETF) and OILK (ProShares K-1 Free Crude Oil Strategy ETF) are both exchange-traded funds - CA is a Municipal Bonds fund tracking the ICE AMT-Free Broad Liquid California Municipal Index - Benchmark TR Gross, while OILK is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index. Both are passively managed. Over the past year, CA returned 6.67% vs 58.99% for OILK. At a correlation of -0.15, they often move in opposite directions. CA charges 0.07%/yr vs 0.68%/yr for OILK.
Performance
CA vs. OILK - Performance Comparison
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Returns By Period
In the year-to-date period, CA achieves a 1.20% return, which is significantly lower than OILK's 64.22% return.
CA
- 1D
- 0.00%
- 1M
- 0.38%
- YTD
- 1.20%
- 6M
- 1.44%
- 1Y
- 6.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OILK
- 1D
- 1.40%
- 1M
- -1.65%
- YTD
- 64.22%
- 6M
- 60.70%
- 1Y
- 58.99%
- 3Y*
- 19.03%
- 5Y*
- 17.73%
- 10Y*
- —
CA vs. OILK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CA Xtrackers California Municipal Bond ETF | 1.20% | 3.05% | 1.51% | 0.79% |
OILK ProShares K-1 Free Crude Oil Strategy ETF | 64.22% | -11.86% | 8.18% | -1.68% |
Correlation
The correlation between CA and OILK is -0.26, 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 | -0.26 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2023 | -0.15 |
The correlation between CA and OILK shifts across timeframes, from -0.26 (1 year) to -0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CA vs. OILK — Risk / Return Rank
CA
OILK
CA vs. OILK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers California Municipal Bond ETF (CA) 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.
| CA | OILK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.48 | ||
| Sortino ratioReturn per unit of downside risk | +1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.34 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.61 | 3.42 | -0.81 |
| Martin ratioReturn relative to average drawdown | 9.84 | 6.91 | +2.93 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CA | OILK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.54 | 2.06 | +0.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 0.12 | +0.56 |
Drawdowns
CA vs. OILK - Drawdown Comparison
The maximum CA drawdown since its inception was -5.24%, smaller than the maximum OILK drawdown of -83.76%. Use the drawdown chart below to compare losses from any high point for CA and OILK.
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Drawdown Indicators
| CA | OILK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.24% | -83.76% | +78.52% |
Max Drawdown (1Y)Largest decline over 1 year | -2.57% | -17.35% | +14.78% |
Max Drawdown (3Y)Largest decline over 3 years | — | -23.42% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.69% | — |
Current DrawdownCurrent decline from peak | -0.75% | -3.66% | +2.91% |
Average DrawdownAverage peak-to-trough decline | -1.27% | -32.61% | +31.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 8.56% | -7.88% |
Volatility
CA vs. OILK - Volatility Comparison
The current volatility for Xtrackers California Municipal Bond ETF (CA) is 0.31%, while ProShares K-1 Free Crude Oil Strategy ETF (OILK) has a volatility of 10.44%. This indicates that CA 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.
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Volatility by Period
| CA | OILK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.31% | 10.44% | -10.13% |
Volatility (6M)Calculated over the trailing 6-month period | 1.83% | 23.26% | -21.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.64% | 28.75% | -26.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.99% | 30.12% | -26.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.99% | 35.97% | -31.98% |
CA vs. OILK - Expense Ratio Comparison
CA has a 0.07% expense ratio, which is lower than OILK's 0.68% expense ratio.
Dividends
CA vs. OILK - Dividend Comparison
CA's dividend yield for the trailing twelve months is around 2.96%, less than OILK's 8.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CA Xtrackers California Municipal Bond ETF | 2.96% | 3.14% | 3.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
OILK ProShares K-1 Free Crude Oil Strategy ETF | 8.18% | 4.79% | 3.11% | 5.80% | 17.32% | 68.82% | 0.13% | 0.94% | 0.58% | 6.17% |
Frequently Asked Questions
CA and OILK have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILK has higher volatility (10.44%) compared to CA (0.31%). In terms of maximum drawdown, CA dropped -5.24% vs OILK's -83.76%.
On 1-year performance, OILK leads with 58.99% vs 6.67% for CA. On fees, CA is cheaper at 0.07% per year. On volatility, CA has been the lower-risk option at 0.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, OILK has performed better with a 58.99% return vs 6.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CA is cheaper with a 0.07% expense ratio, compared with 0.68% for OILK.
OILK has the higher dividend yield at 8.18%, compared with 2.96% for CA.
CA is categorized as Municipal Bonds, while OILK is Oil & Gas. CA tracks ICE AMT-Free Broad Liquid California Municipal Index - Benchmark TR Gross, while OILK tracks Bloomberg Commodity Balanced WTI Crude Oil Index. They also come from different issuers: Xtrackers and ProShares. Their fees differ too: 0.07% for CA and 0.68% for OILK.
CA currently has the higher Sharpe Ratio (2.54 vs 2.06), 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.
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