DRIP vs. OILT
DRIP (Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares) and OILT (Texas Capital Texas Oil Index ETF) are both exchange-traded funds - DRIP is a Leveraged Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while OILT is a Energy Equities fund tracking the Alerian Texas Weighted Oil and Gas Index - Benchmark TR Gross. Both are passively managed. Over the past year, DRIP returned -59.32% vs 41.13% for OILT. Their -0.94 correlation means they have often moved in opposite directions in the past. DRIP charges 1.07%/yr vs 0.35%/yr for OILT.
Performance
DRIP vs. OILT - Performance Comparison
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Returns By Period
In the year-to-date period, DRIP achieves a -55.32% return, which is significantly lower than OILT's 34.17% return.
DRIP
- 1D
- -2.95%
- 1M
- -25.11%
- 6M
- -44.52%
- YTD
- -55.32%
- 1Y
- -59.32%
- 3Y*
- -26.17%
- 5Y*
- -45.26%
- 10Y*
- -43.88%
- ALL TIME*
- -42.20%
OILT
- 1D
- 1.52%
- 1M
- 12.96%
- 6M
- 20.92%
- YTD
- 34.17%
- 1Y
- 41.13%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.92%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $16.97M | $70.63M | $133.34M | |
| $81.32K | $66.65K | $96.97K |
DRIP vs. OILT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -55.32% | -14.81% | 1.27% | 0.35% |
OILT Texas Capital Texas Oil Index ETF | 34.17% | -3.30% | 0.87% | 0.13% |
Correlation
The correlation between DRIP and OILT is -0.95, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.95 |
Correlation (All Time) Calculated using the full available price history since Dec 21, 2023 | -0.94 |
The correlation between DRIP and OILT has been stable across timeframes, ranging from -0.95 to -0.94 - a consistent structural relationship.
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Return for Risk
DRIP vs. OILT — Risk / Return Rank
DRIP
OILT
DRIP vs. OILT - 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 Texas Capital Texas Oil Index ETF (OILT). 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.
| DRIP | OILT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.34 | ||
| Sortino ratioReturn per unit of downside risk | -3.51 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.23 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | 1.83 | -2.74 |
| Martin ratioReturn relative to average drawdown | -1.49 | 4.74 | -6.23 |
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Drawdowns
DRIP vs. OILT - Drawdown Comparison
The maximum DRIP drawdown since its inception was -99.95%, which is greater than OILT's maximum drawdown of -35.21%. Use the drawdown chart below to compare losses from any high point for DRIP and OILT.
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Drawdown Indicators
| DRIP | OILT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.95% | -35.21% | -64.74% |
Max Drawdown (1Y)Largest decline over 1 year | -62.18% | -20.72% | -41.46% |
Max Drawdown (3Y)Largest decline over 3 years | -76.02% | — | — |
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% | -9.45% | -90.49% |
Average DrawdownAverage peak-to-trough decline | -90.56% | -13.02% | -77.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.99% | 7.97% | +30.02% |
Volatility
DRIP vs. OILT - Volatility Comparison
Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) has a higher volatility of 16.75% compared to Texas Capital Texas Oil Index ETF (OILT) at 8.46%. This indicates that DRIP's price experiences larger fluctuations and is considered to be riskier than OILT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRIP | OILT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.75% | 8.46% | +8.29% |
Volatility (6M)Calculated over the trailing 6-month period | 44.83% | 21.75% | +23.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.15% | 28.10% | +29.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.64% | 28.73% | +38.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.75% | 28.73% | +67.02% |
DRIP vs. OILT - Expense Ratio Comparison
DRIP has a 1.07% expense ratio, which is higher than OILT's 0.35% expense ratio.
Dividends
DRIP vs. OILT - Dividend Comparison
DRIP's dividend yield for the trailing twelve months is around 3.98%, more than OILT's 2.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 3.98% | 2.86% | 4.38% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% |
OILT Texas Capital Texas Oil Index ETF | 2.55% | 3.12% | 2.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DRIP and OILT have a correlation of -0.95, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRIP has higher volatility (16.75%) compared to OILT (8.46%). In terms of maximum drawdown, DRIP dropped -99.95% vs OILT's -35.21%.
On 1-year performance, OILT leads with 41.13% vs -59.32% for DRIP. On fees, OILT is cheaper at 0.35% per year. On volatility, OILT has been the lower-risk option at 8.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, OILT has performed better with a 41.13% return vs -59.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OILT is cheaper with a 0.35% expense ratio, compared with 1.07% for DRIP.
DRIP has the higher dividend yield at 3.98%, compared with 2.55% for OILT.
DRIP is categorized as Leveraged Equities, while OILT is Energy Equities. DRIP tracks S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while OILT tracks Alerian Texas Weighted Oil and Gas Index - Benchmark TR Gross. They also come from different issuers: Direxion and Texas Capital. Their fees differ too: 1.07% for DRIP and 0.35% for OILT.
OILT currently has the higher Sharpe Ratio (1.35 vs -0.99), 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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