CVNY vs. OILK
CVNY (YieldMax CVNA Option Income Strategy ETF) and OILK (ProShares K-1 Free Crude Oil Strategy ETF) are both exchange-traded funds - CVNY is a Derivative Income fund actively managed by YieldMax, while OILK is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index. CVNY is actively managed, while OILK is passively managed. Over the past year, CVNY returned -2.56% vs 56.95% for OILK. At a correlation of -0.10, they often move in opposite directions. CVNY charges 0.99%/yr vs 0.68%/yr for OILK.
Performance
CVNY vs. OILK - Performance Comparison
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Returns By Period
In the year-to-date period, CVNY achieves a -18.76% return, which is significantly lower than OILK's 61.09% return.
CVNY
- 1D
- 3.85%
- 1M
- -11.51%
- YTD
- -18.76%
- 6M
- -14.07%
- 1Y
- -2.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OILK
- 1D
- -1.91%
- 1M
- -2.15%
- YTD
- 61.09%
- 6M
- 56.40%
- 1Y
- 56.95%
- 3Y*
- 18.39%
- 5Y*
- 17.28%
- 10Y*
- —
CVNY vs. OILK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CVNY YieldMax CVNA Option Income Strategy ETF | -18.76% | 54.11% |
OILK ProShares K-1 Free Crude Oil Strategy ETF | 61.09% | -12.94% |
Correlation
The correlation between CVNY and OILK is -0.24, 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 | -0.24 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 2025 | -0.10 |
The correlation between CVNY and OILK shifts across timeframes, from -0.24 (1 year) to -0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CVNY vs. OILK — Risk / Return Rank
CVNY
OILK
CVNY vs. OILK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax CVNA Option Income Strategy ETF (CVNY) 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.
| CVNY | OILK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.04 | ||
| Sortino ratioReturn per unit of downside risk | -2.24 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.33 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.07 | 3.30 | -3.37 |
| Martin ratioReturn relative to average drawdown | -0.16 | 6.67 | -6.83 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CVNY | OILK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.05 | 1.99 | -2.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.58 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.11 | +0.20 |
Drawdowns
CVNY vs. OILK - Drawdown Comparison
The maximum CVNY drawdown since its inception was -43.27%, smaller than the maximum OILK drawdown of -83.76%. Use the drawdown chart below to compare losses from any high point for CVNY and OILK.
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Drawdown Indicators
| CVNY | OILK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.27% | -83.76% | +40.49% |
Max Drawdown (1Y)Largest decline over 1 year | -36.27% | -17.35% | -18.92% |
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 | -26.89% | -5.49% | -21.40% |
Average DrawdownAverage peak-to-trough decline | -13.47% | -32.60% | +19.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.02% | 8.57% | +7.45% |
Volatility
CVNY vs. OILK - Volatility Comparison
YieldMax CVNA Option Income Strategy ETF (CVNY) has a higher volatility of 14.45% compared to ProShares K-1 Free Crude Oil Strategy ETF (OILK) at 10.52%. This indicates that CVNY'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.
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Volatility by Period
| CVNY | OILK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.45% | 10.52% | +3.93% |
Volatility (6M)Calculated over the trailing 6-month period | 36.98% | 23.32% | +13.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.51% | 28.82% | +20.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.27% | 30.13% | +28.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.27% | 35.97% | +22.30% |
CVNY vs. OILK - Expense Ratio Comparison
CVNY has a 0.99% expense ratio, which is higher than OILK's 0.68% expense ratio.
Dividends
CVNY vs. OILK - Dividend Comparison
CVNY's dividend yield for the trailing twelve months is around 108.47%, more than OILK's 8.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CVNY YieldMax CVNA Option Income Strategy ETF | 108.47% | 80.86% | 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 | 8.34% | 4.79% | 3.11% | 5.80% | 17.32% | 68.82% | 0.13% | 0.94% | 0.58% | 6.17% |
Frequently Asked Questions
CVNY and OILK have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CVNY has higher volatility (14.45%) compared to OILK (10.52%). In terms of maximum drawdown, CVNY dropped -43.27% vs OILK's -83.76%.
On 1-year performance, OILK leads with 56.95% vs -2.56% for CVNY. On fees, OILK is cheaper at 0.68% per year. On volatility, OILK has been the lower-risk option at 10.52%. 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 56.95% return vs -2.56%. 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 0.99% for CVNY.
CVNY has the higher dividend yield at 108.47%, compared with 8.34% for OILK.
CVNY is categorized as Derivative Income, while OILK is Oil & Gas. They also come from different issuers: YieldMax and ProShares. Their fees differ too: 0.99% for CVNY and 0.68% for OILK.
OILK currently has the higher Sharpe Ratio (1.99 vs -0.05), 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.
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