CRAK vs. DVXE

Last updated Jun 4, 2026

CRAK (VanEck Oil Refiners ETF) and DVXE (WEBs Energy XLE Defined Volatility ETF) are both Energy Equities funds - CRAK tracks the MVIS Global Oil Refiners Index while DVXE tracks the Syntax Defined Volatility XLE Index. Both are passively managed. A 0.59 correlation means they provide meaningful diversification when combined. CRAK charges 0.62%/yr vs 0.89%/yr for DVXE.

Performance

CRAK vs. DVXE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Oil Refiners ETF (CRAK) and WEBs Energy XLE Defined Volatility ETF (DVXE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CRAK achieves a 33.23% return, which is significantly lower than DVXE's 44.98% return.

CRAK

• 1D: 0.56%
• 1M: -1.83%
• YTD: 33.23%
• 6M: 27.96%
• 1Y: 67.58%
• 3Y*: 22.78%
• 5Y*: 13.54%
• 10Y*: 13.28%

DVXE

• 1D: 1.52%
• 1M: -1.50%
• YTD: 44.98%
• 6M: 39.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CRAK vs. DVXE - Yearly Performance Comparison

	2026 (YTD)	2025
CRAK VanEck Oil Refiners ETF	33.23%	10.03%
DVXE WEBs Energy XLE Defined Volatility ETF	44.98%	4.49%

Correlation

The correlation between CRAK and DVXE is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025	0.59

Return for Risk

CRAK vs. DVXE — Risk / Return Rank

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

CRAK

CRAK Risk / Return Rank: 93
CRAK Sharpe Ratio Rank: 94
CRAK Sortino Ratio Rank: 93
CRAK Omega Ratio Rank: 91
CRAK Calmar Ratio Rank: 95
CRAK Martin Ratio Rank: 92

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.

CRAK vs. DVXE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Oil Refiners ETF (CRAK) and WEBs Energy XLE Defined Volatility ETF (DVXE). 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.

	CRAK	DVXE	Difference
Sharpe ratio: Return per unit of total volatility	3.70	—	—
Sortino ratio: Return per unit of downside risk	4.76	—	—
Omega ratio: Gain probability vs. loss probability	1.62	—	—
Calmar ratio: Return relative to maximum drawdown	7.93	—	—
Martin ratio: Return relative to average drawdown	22.48	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CRAK	DVXE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.70	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	1.99	-1.45

Drawdowns

CRAK vs. DVXE - Drawdown Comparison

The maximum CRAK drawdown since its inception was -58.80%, which is greater than DVXE's maximum drawdown of -17.96%. Use the drawdown chart below to compare losses from any high point for CRAK and DVXE.

Drawdown Indicators

	CRAK	DVXE	Difference
Max Drawdown Largest peak-to-trough decline	-58.80%	-17.96%	-40.84%
Max Drawdown (1Y) Largest decline over 1 year	-8.57%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-35.61%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-35.61%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-58.80%	—	—
Current Drawdown Current decline from peak	-3.81%	-11.99%	+8.18%
Average Drawdown Average peak-to-trough decline	-12.50%	-5.80%	-6.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	—	—

Volatility

Volatility by Period

	CRAK	DVXE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.74%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.27%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.35%	31.23%	-12.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.61%	31.23%	-10.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.16%	31.23%	-9.07%

CRAK vs. DVXE - Expense Ratio Comparison

CRAK has a 0.62% expense ratio, which is lower than DVXE's 0.89% expense ratio.

Dividends

CRAK vs. DVXE - Dividend Comparison

CRAK's dividend yield for the trailing twelve months is around 1.51%, while DVXE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CRAK VanEck Oil Refiners ETF	1.51%	2.02%	5.60%	3.65%	3.08%	2.40%	2.64%	1.49%	2.42%	1.66%	3.42%	0.47%
DVXE WEBs Energy XLE Defined Volatility ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CRAK and DVXE in my portfolio?

CRAK and DVXE have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CRAK or DVXE?

On fees, CRAK is cheaper at 0.62% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CRAK or DVXE?

CRAK is cheaper with a 0.62% expense ratio, compared with 0.89% for DVXE.

Which ETF pays a higher dividend yield, CRAK or DVXE?

CRAK has the higher dividend yield at 1.51%, compared with 0.00% for DVXE.

What is the main difference between CRAK and DVXE?

CRAK tracks MVIS Global Oil Refiners Index, while DVXE tracks Syntax Defined Volatility XLE Index. They also come from different issuers: VanEck and WEBs. Their fees differ too: 0.62% for CRAK and 0.89% for DVXE.