EMTY vs. OILD
EMTY (ProShares Decline of the Retail Store ETF) and OILD (MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs) are both Inverse Equities funds - EMTY tracks the Solactive-ProShares Bricks and Mortar Retail Store Index (-100%) while OILD tracks the Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%). Both are passively managed. Over the past 3 years, EMTY returned -4.69%/yr vs -48.14%/yr for OILD. At a 0.28 correlation, their price movements are largely independent. EMTY charges 0.66%/yr vs 0.95%/yr for OILD.
Performance
EMTY vs. OILD - Performance Comparison
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Returns By Period
In the year-to-date period, EMTY achieves a 1.09% return, which is significantly higher than OILD's -61.30% return.
EMTY
- 1D
- -0.32%
- 1M
- 1.81%
- YTD
- 1.09%
- 6M
- 3.80%
- 1Y
- 1.60%
- 3Y*
- -4.69%
- 5Y*
- -2.87%
- 10Y*
- —
OILD
- 1D
- -3.52%
- 1M
- 4.33%
- YTD
- -61.30%
- 6M
- -58.58%
- 1Y
- -72.54%
- 3Y*
- -48.14%
- 5Y*
- —
- 10Y*
- —
EMTY vs. OILD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EMTY ProShares Decline of the Retail Store ETF | 1.09% | -1.76% | -4.13% | 0.27% | 4.32% | 0.71% |
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 EMTY and OILD is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2021 | 0.28 |
Over the past year, the correlation between EMTY and OILD has dropped to 0.03 - well below their long-term average of 0.28, suggesting their price drivers have been diverging.
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Return for Risk
EMTY vs. OILD — Risk / Return Rank
EMTY
OILD
EMTY vs. OILD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Decline of the Retail Store ETF (EMTY) 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.
| EMTY | OILD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.28 | ||
| Sortino ratioReturn per unit of downside risk | +2.70 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 0.75 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | -0.94 | +1.05 |
| Martin ratioReturn relative to average drawdown | 0.20 | -1.56 | +1.75 |
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
| EMTY | OILD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.09 | -1.19 | +1.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.13 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.43 | -0.75 | +0.33 |
Drawdowns
EMTY vs. OILD - Drawdown Comparison
The maximum EMTY drawdown since its inception was -77.62%, smaller than the maximum OILD drawdown of -98.90%. Use the drawdown chart below to compare losses from any high point for EMTY and OILD.
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Drawdown Indicators
| EMTY | OILD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.62% | -98.90% | +21.28% |
Max Drawdown (1Y)Largest decline over 1 year | -14.00% | -77.40% | +63.40% |
Max Drawdown (3Y)Largest decline over 3 years | -30.83% | -88.53% | +57.70% |
Max Drawdown (5Y)Largest decline over 5 years | -30.83% | — | — |
Current DrawdownCurrent decline from peak | -74.77% | -98.74% | +23.97% |
Average DrawdownAverage peak-to-trough decline | -54.01% | -88.64% | +34.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.11% | 46.59% | -38.48% |
Volatility
EMTY vs. OILD - Volatility Comparison
The current volatility for ProShares Decline of the Retail Store ETF (EMTY) is 6.00%, while MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) has a volatility of 24.24%. This indicates that EMTY 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
| EMTY | OILD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.00% | 24.24% | -18.24% |
Volatility (6M)Calculated over the trailing 6-month period | 12.40% | 48.55% | -36.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.71% | 61.12% | -43.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.36% | 79.39% | -57.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.67% | 79.39% | -53.72% |
EMTY vs. OILD - Expense Ratio Comparison
EMTY has a 0.66% expense ratio, which is lower than OILD's 0.95% expense ratio.
Dividends
EMTY vs. OILD - Dividend Comparison
EMTY's dividend yield for the trailing twelve months is around 3.45%, while OILD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EMTY ProShares Decline of the Retail Store ETF | 3.45% | 3.83% | 6.00% | 4.41% | 0.65% | 0.00% | 0.07% | 0.82% | 0.62% | 0.03% |
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% | 0.00% |
Frequently Asked Questions
EMTY and OILD have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILD has higher volatility (24.24%) compared to EMTY (6.00%). In terms of maximum drawdown, EMTY dropped -77.62% vs OILD's -98.90%.
On 3-year performance, EMTY leads with -4.69% vs -48.14% for OILD. On fees, EMTY is cheaper at 0.66% per year. On volatility, EMTY has been the lower-risk option at 6.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EMTY has performed better with a -4.69% return vs -48.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMTY is cheaper with a 0.66% expense ratio, compared with 0.95% for OILD.
EMTY has the higher dividend yield at 3.45%, compared with 0.00% for OILD.
EMTY tracks Solactive-ProShares Bricks and Mortar Retail Store Index (-100%), while OILD tracks Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%). They also come from different issuers: ProShares and REX. Their fees differ too: 0.66% for EMTY and 0.95% for OILD.
EMTY currently has the higher Sharpe Ratio (0.09 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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