CVNX vs. OILK
CVNX (Defiance Daily Target 2X Long CVNA ETF) and OILK (ProShares K-1 Free Crude Oil Strategy ETF) are both exchange-traded funds - CVNX is a Leveraged Equities fund actively managed by Defiance, while OILK is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index. CVNX is actively managed, while OILK is passively managed. Over the past year, CVNX returned -44.41% vs 53.67% for OILK. At a correlation of -0.23, they often move in opposite directions. CVNX charges 1.31%/yr vs 0.68%/yr for OILK.
Performance
CVNX vs. OILK - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CVNX achieves a -51.18% return, which is significantly lower than OILK's 58.67% return.
CVNX
- 1D
- 0.63%
- 1M
- -30.08%
- YTD
- -51.18%
- 6M
- -47.27%
- 1Y
- -44.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OILK
- 1D
- -1.50%
- 1M
- 2.45%
- YTD
- 58.67%
- 6M
- 52.94%
- 1Y
- 53.67%
- 3Y*
- 17.93%
- 5Y*
- 16.92%
- 10Y*
- —
CVNX vs. OILK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CVNX Defiance Daily Target 2X Long CVNA ETF | -51.18% | 31.03% |
OILK ProShares K-1 Free Crude Oil Strategy ETF | 58.67% | -0.09% |
Correlation
The correlation between CVNX and OILK is -0.23, 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 | -0.23 |
Correlation (All Time) Calculated using the full available price history since May 30, 2025 | -0.23 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CVNX vs. OILK — Risk / Return Rank
CVNX
OILK
CVNX vs. OILK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long CVNA ETF (CVNX) 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.
| CVNX | OILK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.24 | ||
| Sortino ratioReturn per unit of downside risk | -2.25 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.31 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.64 | 3.11 | -3.75 |
| Martin ratioReturn relative to average drawdown | -1.22 | 6.27 | -7.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| CVNX | OILK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.38 | 1.87 | -2.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.56 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.30 | 0.11 | -0.41 |
Drawdowns
CVNX vs. OILK - Drawdown Comparison
The maximum CVNX drawdown since its inception was -69.62%, smaller than the maximum OILK drawdown of -83.76%. Use the drawdown chart below to compare losses from any high point for CVNX and OILK.
Loading charts...
Drawdown Indicators
| CVNX | OILK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.62% | -83.76% | +14.14% |
Max Drawdown (1Y)Largest decline over 1 year | -69.62% | -17.35% | -52.27% |
Max Drawdown (3Y)Largest decline over 3 years | — | -23.42% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.69% | — |
Current DrawdownCurrent decline from peak | -61.28% | -6.91% | -54.37% |
Average DrawdownAverage peak-to-trough decline | -29.75% | -32.59% | +2.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 36.54% | 8.58% | +27.96% |
Volatility
CVNX vs. OILK - Volatility Comparison
Defiance Daily Target 2X Long CVNA ETF (CVNX) has a higher volatility of 31.27% compared to ProShares K-1 Free Crude Oil Strategy ETF (OILK) at 8.60%. This indicates that CVNX'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.
Loading charts...
Volatility by Period
| CVNX | OILK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 31.27% | 8.60% | +22.67% |
Volatility (6M)Calculated over the trailing 6-month period | 87.74% | 23.39% | +64.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 118.64% | 28.86% | +89.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 117.95% | 30.12% | +87.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 117.95% | 35.96% | +81.99% |
CVNX vs. OILK - Expense Ratio Comparison
CVNX has a 1.31% expense ratio, which is higher than OILK's 0.68% expense ratio.
Dividends
CVNX vs. OILK - Dividend Comparison
CVNX has not paid dividends to shareholders, while OILK's dividend yield for the trailing twelve months is around 8.46%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CVNX Defiance Daily Target 2X Long CVNA ETF | 0.00% | 0.00% | 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 | 8.46% | 4.79% | 3.11% | 5.80% | 17.32% | 68.82% | 0.13% | 0.94% | 0.58% | 6.17% |
Frequently Asked Questions
CVNX and OILK have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CVNX has higher volatility (31.27%) compared to OILK (8.60%). In terms of maximum drawdown, CVNX dropped -69.62% vs OILK's -83.76%.
On 1-year performance, OILK leads with 53.67% vs -44.41% for CVNX. On fees, OILK is cheaper at 0.68% per year. On volatility, OILK has been the lower-risk option at 8.60%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, OILK has performed better with a 53.67% return vs -44.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OILK is cheaper with a 0.68% expense ratio, compared with 1.31% for CVNX.
OILK has the higher dividend yield at 8.46%, compared with 0.00% for CVNX.
CVNX is categorized as Leveraged Equities, while OILK is Oil & Gas. They also come from different issuers: Defiance and ProShares. Their fees differ too: 1.31% for CVNX and 0.68% for OILK.
OILK currently has the higher Sharpe Ratio (1.87 vs -0.38), 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.
Find the right allocation for CVNX and OILK
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer