DECZ vs. OILK

Last updated Jun 4, 2026

DECZ (TrueShares Structured Outcome (December) ETF) and OILK (ProShares K-1 Free Crude Oil Strategy ETF) are both exchange-traded funds - DECZ is a Defined Outcome fund tracking the S&P 500, 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, DECZ returned 11.21%/yr vs 17.73%/yr for OILK. At a 0.11 correlation, their price movements are largely independent. DECZ charges 0.79%/yr vs 0.68%/yr for OILK.

Performance

DECZ vs. OILK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Structured Outcome (December) ETF (DECZ) 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, DECZ achieves a 8.14% return, which is significantly lower than OILK's 64.22% return.

DECZ

• 1D: -0.53%
• 1M: 4.15%
• YTD: 8.14%
• 6M: 8.12%
• 1Y: 20.18%
• 3Y*: 16.28%
• 5Y*: 11.21%
• 10Y*: —

OILK

• 1D: 1.40%
• 1M: -1.65%
• YTD: 64.22%
• 6M: 60.70%
• 1Y: 58.99%
• 3Y*: 19.03%
• 5Y*: 17.73%
• 10Y*: —

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

DECZ vs. OILK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
DECZ TrueShares Structured Outcome (December) ETF	8.14%	12.34%	18.89%	18.32%	-8.93%	20.15%	1.64%
OILK ProShares K-1 Free Crude Oil Strategy ETF	64.22%	-11.86%	8.18%	-0.97%	27.57%	63.71%	8.07%

Correlation

The correlation between DECZ and OILK is -0.26, 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	-0.26
Correlation (3Y) Calculated over the trailing 3-year period	-0.04
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (All Time) Calculated using the full available price history since Dec 2, 2020	0.11

The correlation between DECZ and OILK shifts across timeframes, from -0.26 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.

DECZ vs. OILK - Sectors Allocation Comparison

Sectors	DECZ	OILK
Technology	35.3%	-
Financial Services	13.4%	-
Consumer Cyclical	10.6%	100.0%
Communication Services	9.9%	-
Healthcare	8.8%	-
Industrials	7.8%	-
Consumer Defensive	5.2%	-
Energy	3.0%	-
Utilities	2.5%	-
Real Estate	2.0%	-
Basic Materials	1.6%	-

Return for Risk

DECZ vs. OILK — Risk / Return Rank

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

DECZ

DECZ Risk / Return Rank: 62
DECZ Sharpe Ratio Rank: 64
DECZ Sortino Ratio Rank: 65
DECZ Omega Ratio Rank: 64
DECZ Calmar Ratio Rank: 55
DECZ Martin Ratio Rank: 63

OILK

OILK Risk / Return Rank: 55
OILK Sharpe Ratio Rank: 60
OILK Sortino Ratio Rank: 53
OILK Omega Ratio Rank: 54
OILK Calmar Ratio Rank: 68
OILK Martin Ratio Rank: 42

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.

DECZ vs. OILK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Structured Outcome (December) ETF (DECZ) 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.

	DECZ	OILK	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.06	+0.06
Sortino ratio: Return per unit of downside risk	2.98	2.59	+0.39
Omega ratio: Gain probability vs. loss probability	1.38	1.34	+0.04
Calmar ratio: Return relative to maximum drawdown	2.69	3.42	-0.72
Martin ratio: Return relative to average drawdown	11.35	6.91	+4.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DECZ vs. OILK - Sharpe Ratio Comparison

The current DECZ Sharpe Ratio is 2.12, which is comparable to the OILK Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of DECZ 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

	DECZ	OILK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	2.06	+0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.90	0.59	+0.30
Sharpe Ratio (All Time) Calculated using the full available price history	1.00	0.12	+0.89

Drawdowns

DECZ vs. OILK - Drawdown Comparison

The maximum DECZ drawdown since its inception was -16.57%, smaller than the maximum OILK drawdown of -83.76%. Use the drawdown chart below to compare losses from any high point for DECZ and OILK.

Drawdown Indicators

	DECZ	OILK	Difference
Max Drawdown Largest peak-to-trough decline	-16.57%	-83.76%	+67.19%
Max Drawdown (1Y) Largest decline over 1 year	-7.53%	-17.35%	+9.82%
Max Drawdown (3Y) Largest decline over 3 years	-14.24%	-23.42%	+9.18%
Max Drawdown (5Y) Largest decline over 5 years	-16.57%	-34.69%	+18.12%
Current Drawdown Current decline from peak	-0.53%	-3.66%	+3.13%
Average Drawdown Average peak-to-trough decline	-3.06%	-32.61%	+29.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	8.56%	-6.78%

Volatility

DECZ vs. OILK - Volatility Comparison

The current volatility for TrueShares Structured Outcome (December) ETF (DECZ) is 2.47%, while ProShares K-1 Free Crude Oil Strategy ETF (OILK) has a volatility of 10.44%. This indicates that DECZ experiences smaller price fluctuations and is considered to be less risky than OILK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DECZ	OILK	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.47%	10.44%	-7.97%
Volatility (6M) Calculated over the trailing 6-month period	7.20%	23.26%	-16.06%
Volatility (1Y) Calculated over the trailing 1-year period	9.57%	28.75%	-19.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.59%	30.12%	-17.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.39%	35.97%	-23.58%

DECZ vs. OILK - Expense Ratio Comparison

DECZ has a 0.79% expense ratio, which is higher than OILK's 0.68% expense ratio.

Dividends

DECZ vs. OILK - Dividend Comparison

DECZ's dividend yield for the trailing twelve months is around 3.03%, less than OILK's 8.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DECZ TrueShares Structured Outcome (December) ETF	3.03%	3.28%	2.55%	1.23%	1.44%	0.46%	0.00%	0.00%	0.00%	0.00%
OILK ProShares K-1 Free Crude Oil Strategy ETF	8.18%	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 DECZ and OILK in my portfolio?

DECZ and OILK have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DECZ or OILK?

OILK has higher volatility (10.44%) compared to DECZ (2.47%). In terms of maximum drawdown, DECZ dropped -16.57% vs OILK's -83.76%.

Which ETF is better, DECZ or OILK?

On 5-year performance, OILK leads with 17.73% vs 11.21% for DECZ. On fees, OILK is cheaper at 0.68% per year. On volatility, DECZ has been the lower-risk option at 2.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DECZ or OILK?

Over the 5-year period, OILK has performed better with a 17.73% return vs 11.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DECZ or OILK?

OILK is cheaper with a 0.68% expense ratio, compared with 0.79% for DECZ.

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

OILK has the higher dividend yield at 8.18%, compared with 3.03% for DECZ.

What is the main difference between DECZ and OILK?

DECZ is categorized as Defined Outcome, while OILK is Oil & Gas. DECZ tracks S&P 500, while OILK tracks Bloomberg Commodity Balanced WTI Crude Oil Index. They also come from different issuers: TrueShares and ProShares. Their fees differ too: 0.79% for DECZ and 0.68% for OILK.

Which has better risk-adjusted returns?

DECZ currently has the higher Sharpe Ratio (2.12 vs 2.06), 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.