EFZ vs. OILD
EFZ (ProShares Short MSCI EAFE) and OILD (MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs) are both Inverse Equities funds - EFZ tracks the MSCI EAFE Index (-100%) while OILD tracks the Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%). Both are passively managed. Over the past 3 years, EFZ returned -9.95%/yr vs -43.79%/yr for OILD. Their 0.27 correlation means their historical movements had little consistent relationship. Both charge a 0.95% expense ratio.
Performance
EFZ vs. OILD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EFZ achieves a -9.46% return, which is significantly higher than OILD's -64.92% return.
EFZ
- 1D
- -0.25%
- 1M
- -1.24%
- 6M
- -5.50%
- YTD
- -9.46%
- 1Y
- -17.52%
- 3Y*
- -9.95%
- 5Y*
- -6.08%
- 10Y*
- -8.43%
- ALL TIME*
- -7.52%
OILD
- 1D
- -3.75%
- 1M
- -31.76%
- 6M
- -47.49%
- YTD
- -64.92%
- 1Y
- -72.17%
- 3Y*
- -43.79%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -59.42%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $154.74K | $246.78K | $380.96K | |
| $2.56M | $2.79M | $3.90M |
EFZ vs. OILD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EFZ ProShares Short MSCI EAFE | -9.46% | -20.92% | 2.90% | -10.38% | 13.15% | 1.37% |
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs | -64.92% | -41.67% | -14.58% | -19.58% | -90.32% | 3.83% |
Correlation
The correlation between EFZ and OILD is -0.11, 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. | -0.11 |
Correlation (3Y) Balances recent behavior with more history. | 0.13 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021 | 0.27 |
The correlation between EFZ and OILD shifts across timeframes, from -0.11 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.
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
EFZ vs. OILD — Risk / Return Rank
EFZ
OILD
EFZ vs. OILD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short MSCI EAFE (EFZ) 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.
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.
| EFZ | OILD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.74 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.78 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | -0.95 | -0.05 |
| Martin ratioReturn relative to average drawdown | -1.55 | -1.42 | -0.13 |
Loading charts...
Drawdowns
EFZ vs. OILD - Drawdown Comparison
The maximum EFZ drawdown since its inception was -88.15%, smaller than the maximum OILD drawdown of -98.90%. Use the drawdown chart below to compare losses from any high point for EFZ and OILD.
Loading charts...
Drawdown Indicators
| EFZ | OILD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.15% | -98.90% | +10.75% |
Max Drawdown (1Y)Largest decline over 1 year | -17.58% | -74.53% | +56.95% |
Max Drawdown (3Y)Largest decline over 3 years | -35.82% | -85.42% | +49.60% |
Max Drawdown (5Y)Largest decline over 5 years | -44.12% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -61.58% | — | — |
Current DrawdownCurrent decline from peak | -88.14% | -98.86% | +10.72% |
Average DrawdownAverage peak-to-trough decline | -67.25% | -88.90% | +21.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.35% | 49.58% | -38.23% |
Volatility
EFZ vs. OILD - Volatility Comparison
The current volatility for ProShares Short MSCI EAFE (EFZ) is 4.14%, while MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) has a volatility of 19.24%. This indicates that EFZ 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.
Loading charts...
Volatility by Period
| EFZ | OILD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.14% | 19.24% | -15.10% |
Volatility (6M)Calculated over the trailing 6-month period | 14.10% | 50.43% | -36.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.71% | 63.51% | -46.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.83% | 79.08% | -62.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.11% | 79.08% | -61.97% |
EFZ vs. OILD - Expense Ratio Comparison
Both EFZ and OILD have an expense ratio of 0.95%.
Dividends
EFZ vs. OILD - Dividend Comparison
EFZ's dividend yield for the trailing twelve months is around 4.04%, while OILD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EFZ ProShares Short MSCI EAFE | 4.04% | 4.55% | 5.29% | 4.66% | 0.57% | 0.00% | 0.04% | 1.56% | 0.34% |
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
EFZ and OILD have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILD has higher volatility (19.24%) compared to EFZ (4.14%). In terms of maximum drawdown, EFZ dropped -88.15% vs OILD's -98.90%.
On 3-year performance, EFZ leads with -9.95% vs -43.79% for OILD. Both ETFs have the same 0.95% expense ratio. On volatility, EFZ has been the lower-risk option at 4.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EFZ has performed better with a -9.95% return vs -43.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EFZ and OILD have the same expense ratio: 0.95% per year.
EFZ has the higher dividend yield at 4.04%, compared with 0.00% for OILD.
EFZ tracks MSCI EAFE Index (-100%), while OILD tracks Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%). They also come from different issuers: ProShares and REX.
EFZ currently has the higher Sharpe Ratio (-1.06 vs -1.11), 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 EFZ and OILD
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