CEFZ vs. OILK

Last updated Jun 4, 2026

CEFZ (RiverNorth Active Income ETF) and OILK (ProShares K-1 Free Crude Oil Strategy ETF) are both exchange-traded funds - CEFZ is a Tactical Allocation fund actively managed by RiverNorth, while OILK is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index. CEFZ is actively managed, while OILK is passively managed. At a correlation of -0.14, they often move in opposite directions. CEFZ charges 3.36%/yr vs 0.68%/yr for OILK.

Performance

CEFZ vs. OILK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in RiverNorth Active Income ETF (CEFZ) and ProShares K-1 Free Crude Oil Strategy ETF (OILK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CEFZ achieves a 5.16% return, which is significantly lower than OILK's 64.22% return.

CEFZ

• 1D: -0.73%
• 1M: 0.70%
• YTD: 5.16%
• 6M: 5.91%
• 1Y: —
• 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*: —

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

CEFZ vs. OILK - Yearly Performance Comparison

	2026 (YTD)	2025
CEFZ RiverNorth Active Income ETF	5.16%	7.67%
OILK ProShares K-1 Free Crude Oil Strategy ETF	64.22%	-8.53%

Correlation

The correlation between CEFZ and OILK is -0.14, 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 (All Time) Calculated using the full available price history since Aug 5, 2025	-0.14

Return for Risk

CEFZ vs. OILK — Risk / Return Rank

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

OILK

OILK Risk / Return Rank: 55
OILK Sharpe Ratio Rank: 60
OILK Sortino Ratio Rank: 53
OILK Omega Ratio Rank: 54
OILK Calmar Ratio Rank: 68
OILK Martin Ratio Rank: 42

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.

CEFZ vs. OILK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RiverNorth Active Income ETF (CEFZ) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CEFZ	OILK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.06	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.56	0.12	+1.44

Drawdowns

CEFZ vs. OILK - Drawdown Comparison

The maximum CEFZ drawdown since its inception was -6.66%, smaller than the maximum OILK drawdown of -83.76%. Use the drawdown chart below to compare losses from any high point for CEFZ and OILK.

Drawdown Indicators

	CEFZ	OILK	Difference
Max Drawdown Largest peak-to-trough decline	-6.66%	-83.76%	+77.10%
Max Drawdown (1Y) Largest decline over 1 year	—	-17.35%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-23.42%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.69%	—
Current Drawdown Current decline from peak	-0.73%	-3.66%	+2.93%
Average Drawdown Average peak-to-trough decline	-1.20%	-32.61%	+31.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.56%	—

Volatility

Volatility by Period

	CEFZ	OILK	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.44%	—
Volatility (6M) Calculated over the trailing 6-month period	—	23.26%	—
Volatility (1Y) Calculated over the trailing 1-year period	10.39%	28.75%	-18.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.39%	30.12%	-19.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.39%	35.97%	-25.58%

CEFZ vs. OILK - Expense Ratio Comparison

CEFZ has a 3.36% expense ratio, which is higher than OILK's 0.68% expense ratio.

Dividends

CEFZ vs. OILK - Dividend Comparison

CEFZ's dividend yield for the trailing twelve months is around 8.27%, more than OILK's 8.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CEFZ RiverNorth Active Income ETF	8.27%	4.17%	0.00%	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

Can I hold both CEFZ and OILK in my portfolio?

CEFZ and OILK have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CEFZ or OILK?

On fees, OILK is cheaper at 0.68% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CEFZ or OILK?

OILK is cheaper with a 0.68% expense ratio, compared with 3.36% for CEFZ.

Which ETF pays a higher dividend yield, CEFZ or OILK?

CEFZ has the higher dividend yield at 8.27%, compared with 8.18% for OILK.

What is the main difference between CEFZ and OILK?

CEFZ is categorized as Tactical Allocation, while OILK is Oil & Gas. They also come from different issuers: RiverNorth and ProShares. Their fees differ too: 3.36% for CEFZ and 0.68% for OILK.