CLOU vs. OILK

Last updated Jun 3, 2026

CLOU (Global X Cloud Computing ETF) and OILK (ProShares K-1 Free Crude Oil Strategy ETF) are both exchange-traded funds - CLOU is a Technology Equities fund tracking the Indxx Global Cloud Computing 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, CLOU returned 0.30%/yr vs 17.52%/yr for OILK. At a 0.11 correlation, their price movements are largely independent. Both charge a 0.68% expense ratio.

Performance

CLOU vs. OILK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Cloud Computing ETF (CLOU) 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, CLOU achieves a 13.35% return, which is significantly lower than OILK's 61.95% return.

CLOU

• 1D: -2.81%
• 1M: 21.81%
• YTD: 13.35%
• 6M: 13.05%
• 1Y: 11.58%
• 3Y*: 10.56%
• 5Y*: 0.30%
• 10Y*: —

OILK

• 1D: 1.15%
• 1M: 0.89%
• YTD: 61.95%
• 6M: 59.31%
• 1Y: 57.89%
• 3Y*: 18.48%
• 5Y*: 17.52%
• 10Y*: —

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

CLOU vs. OILK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CLOU Global X Cloud Computing ETF	13.35%	-5.59%	5.74%	41.36%	-39.56%	-3.27%	77.18%	4.79%
OILK ProShares K-1 Free Crude Oil Strategy ETF	61.95%	-11.86%	8.18%	-0.97%	27.57%	63.71%	-61.09%	-4.73%

Correlation

The correlation between CLOU and OILK is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (All Time) Calculated using the full available price history since Apr 17, 2019	0.11

The correlation between CLOU and OILK shifts across timeframes, from -0.10 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.

CLOU vs. OILK - Sectors Allocation Comparison

Sectors	CLOU	OILK
Technology	85.3%	-
Real Estate	5.6%	-
Communication Services	5.5%	-
Consumer Cyclical	3.0%	100.0%
Healthcare	0.6%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Industrials	-	-
Utilities	-	-

Return for Risk

CLOU vs. OILK — Risk / Return Rank

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

CLOU

CLOU Risk / Return Rank: 15
CLOU Sharpe Ratio Rank: 15
CLOU Sortino Ratio Rank: 16
CLOU Omega Ratio Rank: 16
CLOU Calmar Ratio Rank: 14
CLOU Martin Ratio Rank: 13

OILK

OILK Risk / Return Rank: 56
OILK Sharpe Ratio Rank: 59
OILK Sortino Ratio Rank: 52
OILK Omega Ratio Rank: 54
OILK Calmar Ratio Rank: 71
OILK Martin Ratio Rank: 44

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.

CLOU vs. OILK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Cloud Computing ETF (CLOU) 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.

	CLOU	OILK	Difference
Sharpe ratio Return per unit of total volatility	0.40	2.03	-1.63
Sortino ratio Return per unit of downside risk	0.75	2.55	-1.80
Omega ratio Gain probability vs. loss probability	1.09	1.34	-0.24
Calmar ratio Return relative to maximum drawdown	0.44	3.61	-3.17
Martin ratio Return relative to average drawdown	1.09	7.33	-6.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CLOU vs. OILK - Sharpe Ratio Comparison

The current CLOU Sharpe Ratio is 0.40, which is lower than the OILK Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of CLOU and OILK, 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

	CLOU	OILK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.40	2.03	-1.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	0.59	-0.58
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.11	+0.15

Drawdowns

CLOU vs. OILK - Drawdown Comparison

The maximum CLOU drawdown since its inception was -53.74%, smaller than the maximum OILK drawdown of -83.76%. Use the drawdown chart below to compare losses from any high point for CLOU and OILK.

Drawdown Indicators

	CLOU	OILK	Difference
Max Drawdown Largest peak-to-trough decline	-53.74%	-83.76%	+30.02%
Max Drawdown (1Y) Largest decline over 1 year	-27.24%	-17.35%	-9.89%
Max Drawdown (3Y) Largest decline over 3 years	-33.18%	-23.42%	-9.76%
Max Drawdown (5Y) Largest decline over 5 years	-53.74%	-34.69%	-19.05%
Current Drawdown Current decline from peak	-18.82%	-4.99%	-13.83%
Average Drawdown Average peak-to-trough decline	-24.42%	-32.62%	+8.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.01%	8.56%	+2.45%

Volatility

CLOU vs. OILK - Volatility Comparison

Global X Cloud Computing ETF (CLOU) has a higher volatility of 13.10% compared to ProShares K-1 Free Crude Oil Strategy ETF (OILK) at 11.11%. This indicates that CLOU's price experiences larger fluctuations and is considered to be riskier than OILK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLOU	OILK	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.10%	11.11%	+1.99%
Volatility (6M) Calculated over the trailing 6-month period	24.52%	23.24%	+1.28%
Volatility (1Y) Calculated over the trailing 1-year period	29.26%	28.86%	+0.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.53%	30.11%	+0.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.77%	35.98%	-5.21%

CLOU vs. OILK - Expense Ratio Comparison

Both CLOU and OILK have an expense ratio of 0.68%.

Dividends

CLOU vs. OILK - Dividend Comparison

CLOU has not paid dividends to shareholders, while OILK's dividend yield for the trailing twelve months is around 8.29%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CLOU Global X Cloud Computing ETF	0.00%	0.00%	0.00%	0.00%	0.00%	1.76%	0.00%	0.05%	0.00%	0.00%
OILK ProShares K-1 Free Crude Oil Strategy ETF	8.29%	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 CLOU and OILK in my portfolio?

CLOU and OILK have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CLOU or OILK?

CLOU has higher volatility (13.10%) compared to OILK (11.11%). In terms of maximum drawdown, CLOU dropped -53.74% vs OILK's -83.76%.

Which ETF is better, CLOU or OILK?

On 5-year performance, OILK leads with 17.52% vs 0.30% for CLOU. Both ETFs have the same 0.68% expense ratio. On volatility, OILK has been the lower-risk option at 11.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CLOU or OILK?

Over the 5-year period, OILK has performed better with a 17.52% return vs 0.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CLOU or OILK?

CLOU and OILK have the same expense ratio: 0.68% per year.

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

OILK has the higher dividend yield at 8.29%, compared with 0.00% for CLOU.

What is the main difference between CLOU and OILK?

CLOU is categorized as Technology Equities, while OILK is Oil & Gas. CLOU tracks Indxx Global Cloud Computing Index, while OILK tracks Bloomberg Commodity Balanced WTI Crude Oil Index. They also come from different issuers: Global X and ProShares.

Which has better risk-adjusted returns?

OILK currently has the higher Sharpe Ratio (2.03 vs 0.40), 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.