CRAK vs. OILU

Last updated Aug 4, 2026

CRAK (VanEck Oil Refiners ETF) and OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) are both exchange-traded funds - CRAK is a Energy Equities fund tracking the MVIS Global Oil Refiners Index, while OILU is a Leveraged Equities fund tracking the Solactive MicroSectors Oil & Gas Exploration & Production Index. Both are passively managed. Over the past 3 years, CRAK returned 22.31%/yr vs 0.08%/yr for OILU. Their 0.71 correlation means they have sometimes moved together and sometimes differently. CRAK charges 0.62%/yr vs 0.95%/yr for OILU.

Performance

CRAK vs. OILU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Oil Refiners ETF (CRAK) and MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CRAK achieves a 44.35% return, which is significantly lower than OILU's 87.02% return.

CRAK

• 1D: -1.99%
• 1M: 14.08%
• 6M: 30.87%
• YTD: 44.35%
• 1Y: 67.45%
• 3Y*: 22.31%
• 5Y*: 18.51%
• 10Y*: 14.24%
• ALL TIME*: 12.60%

OILU

• 1D: -4.14%
• 1M: 32.93%
• 6M: 40.98%
• YTD: 87.02%
• 1Y: 99.31%
• 3Y*: 0.08%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.22%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CRAK VanEck Oil Refiners ETF	$22.99M	$18.69M	$9.50M
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	$8.15M	$7.77M	$7.91M

CRAK vs. OILU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CRAK VanEck Oil Refiners ETF	44.35%	39.11%	-15.05%	13.73%	19.10%	-8.75%
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	87.02%	-16.50%	-21.65%	-32.50%	151.08%	-16.79%

Correlation

The correlation between CRAK and OILU is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.59
Correlation (3Y) Balances recent behavior with more history.	0.64
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021	0.71

The correlation between CRAK and OILU shifts across timeframes, from 0.59 (1 year) to 0.71 (all time), reflecting how their relationship changes across market environments.

CRAK vs. OILU - Sectors Allocation Comparison

Sectors	CRAK	OILU
Energy	95.0%	100.0%
Industrials	3.7%	-
Basic Materials	1.2%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

CRAK vs. OILU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CRAK

CRAK Risk / Return Rank: 95
CRAK Sharpe Ratio Rank: 97
CRAK Sortino Ratio Rank: 96
CRAK Omega Ratio Rank: 95
CRAK Calmar Ratio Rank: 94
CRAK Martin Ratio Rank: 92

OILU

OILU Risk / Return Rank: 56
OILU Sharpe Ratio Rank: 65
OILU Sortino Ratio Rank: 56
OILU Omega Ratio Rank: 54
OILU Calmar Ratio Rank: 59
OILU Martin Ratio Rank: 46

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CRAK vs. OILU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Oil Refiners ETF (CRAK) and MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU). 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.

	CRAK	OILU	Difference
Sharpe ratio: Return per unit of total volatility	3.38	1.56	+1.82
Sortino ratio: Return per unit of downside risk	4.29	2.01	+2.28
Omega ratio: Gain probability vs. loss probability	1.55	1.25	+0.30
Calmar ratio: Return relative to maximum drawdown	4.99	2.15	+2.84
Martin ratio: Return relative to average drawdown	16.45	5.28	+11.17

CRAK vs. OILU - Sharpe Ratio Comparison

The current CRAK Sharpe Ratio is 3.38, which is higher than the OILU Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of CRAK and OILU, 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

CRAK vs. OILU - Drawdown Comparison

The maximum CRAK drawdown since its inception was -58.80%, smaller than the maximum OILU drawdown of -81.00%. Use the drawdown chart below to compare losses from any high point for CRAK and OILU.

Drawdown Indicators

	CRAK	OILU	Difference
Max Drawdown Largest peak-to-trough decline	-58.80%	-81.00%	+22.20%
Max Drawdown (1Y) Largest decline over 1 year	-13.59%	-46.49%	+32.90%
Max Drawdown (3Y) Largest decline over 3 years	-35.61%	-69.09%	+33.48%
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	-3.01%	-49.70%	+46.69%
Average Drawdown Average peak-to-trough decline	-12.39%	-50.69%	+38.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.11%	18.87%	-14.76%

Volatility

CRAK vs. OILU - Volatility Comparison

The current volatility for VanEck Oil Refiners ETF (CRAK) is 7.14%, while MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) has a volatility of 20.09%. This indicates that CRAK experiences smaller price fluctuations and is considered to be less risky than OILU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CRAK	OILU	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.14%	20.09%	-12.95%
Volatility (6M) Calculated over the trailing 6-month period	16.23%	52.12%	-35.89%
Volatility (1Y) Calculated over the trailing 1-year period	20.13%	64.31%	-44.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.77%	80.79%	-60.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.26%	80.79%	-58.53%

CRAK vs. OILU - Expense Ratio Comparison

CRAK has a 0.62% expense ratio, which is lower than OILU's 0.95% expense ratio.

Dividends

CRAK vs. OILU - Dividend Comparison

CRAK's dividend yield for the trailing twelve months is around 1.40%, while OILU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CRAK VanEck Oil Refiners ETF	1.40%	2.02%	5.60%	3.65%	3.08%	2.40%	2.64%	1.49%	2.42%	1.66%	3.42%	0.47%
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	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 OILU in my portfolio?

CRAK and OILU 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 is riskier, CRAK or OILU?

OILU has higher volatility (20.09%) compared to CRAK (7.14%). In terms of maximum drawdown, CRAK dropped -58.80% vs OILU's -81.00%.

Which ETF is better, CRAK or OILU?

On 3-year performance, CRAK leads with 22.31% vs 0.08% for OILU. On fees, CRAK is cheaper at 0.62% per year. On volatility, CRAK has been the lower-risk option at 7.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CRAK or OILU?

Over the 3-year period, CRAK has performed better with a 22.31% return vs 0.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CRAK or OILU?

CRAK is cheaper with a 0.62% expense ratio, compared with 0.95% for OILU.

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

CRAK has the higher dividend yield at 1.40%, compared with 0.00% for OILU.

What is the main difference between CRAK and OILU?

CRAK is categorized as Energy Equities, while OILU is Leveraged Equities. CRAK tracks MVIS Global Oil Refiners Index, while OILU tracks Solactive MicroSectors Oil & Gas Exploration & Production Index. They also come from different issuers: VanEck and BMO. Their fees differ too: 0.62% for CRAK and 0.95% for OILU.

Which has better risk-adjusted returns?

CRAK currently has the higher Sharpe Ratio (3.38 vs 1.56), 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.