CARD vs. OILD

Last updated Jul 14, 2026

CARD (Max Auto Industry -3X Inverse Leveraged ETN) and OILD (MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs) are both Inverse Equities funds - CARD tracks the Prime Auto Industry Index - Benchmark TR Net (--300%) while OILD tracks the Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%). Both are passively managed. Over the past 3 years, CARD returned -46.63%/yr vs -44.77%/yr for OILD. At a 0.18 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

CARD vs. OILD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Max Auto Industry -3X Inverse Leveraged ETN (CARD) and MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CARD achieves a -4.58% return, which is significantly higher than OILD's -58.56% return.

CARD

• 1D: 3.15%
• 1M: -2.03%
• 6M: 9.69%
• YTD: -4.58%
• 1Y: -31.37%
• 3Y*: -46.63%
• 5Y*: —
• 10Y*: —

OILD

• 1D: -8.84%
• 1M: 0.76%
• 6M: -53.66%
• YTD: -58.56%
• 1Y: -63.34%
• 3Y*: -44.77%
• 5Y*: —
• 10Y*: —

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

CARD vs. OILD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CARD Max Auto Industry -3X Inverse Leveraged ETN	-4.58%	-60.21%	-58.19%	-32.77%
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs	-58.56%	-41.67%	-14.58%	-27.30%

Correlation

The correlation between CARD and OILD is -0.12, 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	-0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (All Time) Calculated using the full available price history since Jun 28, 2023	0.18

The correlation between CARD and OILD shifts across timeframes, from -0.12 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CARD vs. OILD — Risk / Return Rank

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

CARD

CARD Risk / Return Rank: 5
CARD Sharpe Ratio Rank: 5
CARD Sortino Ratio Rank: 6
CARD Omega Ratio Rank: 6
CARD Calmar Ratio Rank: 3
CARD Martin Ratio Rank: 4

OILD

OILD Risk / Return Rank: 2
OILD Sharpe Ratio Rank: 2
OILD Sortino Ratio Rank: 1
OILD Omega Ratio Rank: 1
OILD Calmar Ratio Rank: 2
OILD Martin Ratio Rank: 2

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.

CARD vs. OILD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Max Auto Industry -3X Inverse Leveraged ETN (CARD) and MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CARD	OILD	Difference
Sharpe ratio: Return per unit of total volatility	-0.45	-1.00	+0.56
Sortino ratio: Return per unit of downside risk	-0.26	-1.77	+1.51
Omega ratio: Gain probability vs. loss probability	0.97	0.82	+0.15
Calmar ratio: Return relative to maximum drawdown	-0.75	-0.85	+0.10
Martin ratio: Return relative to average drawdown	-1.13	-1.36	+0.22

CARD vs. OILD - Sharpe Ratio Comparison

The current CARD Sharpe Ratio is -0.45, which is higher than the OILD Sharpe Ratio of -1.00. The chart below compares the historical Sharpe Ratios of CARD and OILD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CARD vs. OILD - Drawdown Comparison

The maximum CARD drawdown since its inception was -93.51%, smaller than the maximum OILD drawdown of -98.90%. Use the drawdown chart below to compare losses from any high point for CARD and OILD.

Drawdown Indicators

	CARD	OILD	Difference
Max Drawdown Largest peak-to-trough decline	-93.51%	-98.90%	+5.39%
Max Drawdown (1Y) Largest decline over 1 year	-42.02%	-74.53%	+32.51%
Max Drawdown (3Y) Largest decline over 3 years	-93.51%	-86.29%	-7.22%
Current Drawdown Current decline from peak	-92.83%	-98.65%	+5.82%
Average Drawdown Average peak-to-trough decline	-69.12%	-88.78%	+19.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.71%	46.68%	-18.97%

Volatility

CARD vs. OILD - Volatility Comparison

Max Auto Industry -3X Inverse Leveraged ETN (CARD) and MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) have volatilities of 22.93% and 23.04%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CARD	OILD	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.93%	23.04%	-0.11%
Volatility (6M) Calculated over the trailing 6-month period	53.32%	50.04%	+3.28%
Volatility (1Y) Calculated over the trailing 1-year period	70.71%	63.35%	+7.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.43%	79.31%	+1.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.43%	79.31%	+1.12%

CARD vs. OILD - Expense Ratio Comparison

Both CARD and OILD have an expense ratio of 0.95%.

Dividends

CARD vs. OILD - Dividend Comparison

Neither CARD nor OILD has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CARD and OILD in my portfolio?

CARD and OILD have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CARD or OILD?

OILD has higher volatility (23.04%) compared to CARD (22.93%). In terms of maximum drawdown, CARD dropped -93.51% vs OILD's -98.90%.

Which ETF is better, CARD or OILD?

On 3-year performance, OILD leads with -44.77% vs -46.63% for CARD. Both ETFs have the same 0.95% expense ratio. On volatility, CARD has been the lower-risk option at 22.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CARD or OILD?

Over the 3-year period, OILD has performed better with a -44.77% return vs -46.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CARD or OILD?

CARD and OILD have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, CARD or OILD?

CARD and OILD have nearly identical dividend yields, around 0.00%.

What is the main difference between CARD and OILD?

CARD tracks Prime Auto Industry Index - Benchmark TR Net (--300%), while OILD tracks Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%). They also come from different issuers: Max and REX.

Which has better risk-adjusted returns?

CARD currently has the higher Sharpe Ratio (-0.45 vs -1.00), 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.