DRIP vs. OILD
DRIP (Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares) and OILD (MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs) are both exchange-traded funds - DRIP is a Leveraged Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while OILD is a Inverse Equities fund tracking the Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%). Both are passively managed. Over the past 3 years, DRIP returned -30.92%/yr vs -48.14%/yr for OILD. Their correlation of 0.93 suggests significant overlap in exposure. DRIP charges 1.07%/yr vs 0.95%/yr for OILD.
Performance
DRIP vs. OILD - Performance Comparison
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Returns By Period
In the year-to-date period, DRIP achieves a -50.45% return, which is significantly higher than OILD's -61.30% return.
DRIP
- 1D
- -3.05%
- 1M
- 9.61%
- YTD
- -50.45%
- 6M
- -43.03%
- 1Y
- -56.10%
- 3Y*
- -30.92%
- 5Y*
- -41.62%
- 10Y*
- -42.95%
OILD
- 1D
- -3.52%
- 1M
- 4.33%
- YTD
- -61.30%
- 6M
- -58.58%
- 1Y
- -72.54%
- 3Y*
- -48.14%
- 5Y*
- —
- 10Y*
- —
DRIP vs. OILD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -50.45% | -14.81% | 1.27% | -17.24% | -73.57% | 22.00% |
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs | -61.30% | -41.67% | -14.58% | -19.58% | -90.32% | 5.20% |
Correlation
The correlation between DRIP and OILD is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2021 | 0.93 |
The correlation between DRIP and OILD has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.
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Return for Risk
DRIP vs. OILD — Risk / Return Rank
DRIP
OILD
DRIP vs. OILD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) and MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD). 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.
| DRIP | OILD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.75 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.75 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | -0.94 | +0.06 |
| Martin ratioReturn relative to average drawdown | -1.64 | -1.56 | -0.09 |
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
| DRIP | OILD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.01 | -1.19 | +0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.61 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.45 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.42 | -0.75 | +0.34 |
Drawdowns
DRIP vs. OILD - Drawdown Comparison
The maximum DRIP drawdown since its inception was -99.95%, roughly equal to the maximum OILD drawdown of -98.90%. Use the drawdown chart below to compare losses from any high point for DRIP and OILD.
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Drawdown Indicators
| DRIP | OILD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.95% | -98.90% | -1.05% |
Max Drawdown (1Y)Largest decline over 1 year | -63.84% | -77.40% | +13.56% |
Max Drawdown (3Y)Largest decline over 3 years | -76.02% | -88.53% | +12.51% |
Max Drawdown (5Y)Largest decline over 5 years | -96.24% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.92% | — | — |
Current DrawdownCurrent decline from peak | -99.94% | -98.74% | -1.20% |
Average DrawdownAverage peak-to-trough decline | -90.45% | -88.64% | -1.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.12% | 46.59% | -12.47% |
Volatility
DRIP vs. OILD - Volatility Comparison
The current volatility for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) is 19.66%, while MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) has a volatility of 24.24%. This indicates that DRIP experiences smaller price fluctuations and is considered to be less risky than OILD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRIP | OILD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.66% | 24.24% | -4.58% |
Volatility (6M)Calculated over the trailing 6-month period | 43.05% | 48.55% | -5.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.64% | 61.12% | -5.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.36% | 79.39% | -11.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.59% | 79.39% | +17.20% |
DRIP vs. OILD - Expense Ratio Comparison
DRIP has a 1.07% expense ratio, which is higher than OILD's 0.95% expense ratio.
Dividends
DRIP vs. OILD - Dividend Comparison
DRIP's dividend yield for the trailing twelve months is around 3.99%, while OILD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 3.99% | 2.86% | 4.38% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% |
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.91, DRIP and OILD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
OILD has higher volatility (24.24%) compared to DRIP (19.66%). In terms of maximum drawdown, DRIP dropped -99.95% vs OILD's -98.90%.
On 3-year performance, DRIP leads with -30.92% vs -48.14% for OILD. On fees, OILD is cheaper at 0.95% per year. On volatility, DRIP has been the lower-risk option at 19.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DRIP has performed better with a -30.92% return vs -48.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OILD is cheaper with a 0.95% expense ratio, compared with 1.07% for DRIP.
DRIP has the higher dividend yield at 3.99%, compared with 0.00% for OILD.
DRIP is categorized as Leveraged Equities, while OILD is Inverse Equities. DRIP tracks S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while OILD tracks Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%). They also come from different issuers: Direxion and REX. Their fees differ too: 1.07% for DRIP and 0.95% for OILD.
DRIP currently has the higher Sharpe Ratio (-1.01 vs -1.19), 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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