FAAA vs. OILK

Last updated Jun 4, 2026

FAAA (Fidelity AAA CLO ETF) and OILK (ProShares K-1 Free Crude Oil Strategy ETF) are both exchange-traded funds - FAAA is a CLO fund actively managed by Fidelity, while OILK is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index. FAAA is actively managed, while OILK is passively managed. At a correlation of -0.21, they often move in opposite directions. FAAA charges 0.20%/yr vs 0.68%/yr for OILK.

Performance

FAAA vs. OILK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity AAA CLO ETF (FAAA) and ProShares K-1 Free Crude Oil Strategy ETF (OILK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FAAA

• 1D: 0.02%
• 1M: 0.49%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 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)

FAAA vs. OILK - Yearly Performance Comparison

	2026 (YTD)
FAAA Fidelity AAA CLO ETF	1.50%
OILK ProShares K-1 Free Crude Oil Strategy ETF	50.48%

Correlation

The correlation between FAAA and OILK is -0.21, 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 (All Time) Calculated using the full available price history since Feb 13, 2026	-0.21

Return for Risk

FAAA vs. OILK — Risk / Return Rank

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

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.

FAAA vs. OILK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity AAA CLO ETF (FAAA) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	FAAA	OILK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.06	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	5.41	0.12	+5.30

Drawdowns

FAAA vs. OILK - Drawdown Comparison

The maximum FAAA drawdown since its inception was -0.55%, smaller than the maximum OILK drawdown of -83.76%. Use the drawdown chart below to compare losses from any high point for FAAA and OILK.

Drawdown Indicators

	FAAA	OILK	Difference
Max Drawdown Largest peak-to-trough decline	-0.55%	-83.76%	+83.21%
Max Drawdown (1Y) Largest decline over 1 year	—	-17.35%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-23.42%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.69%	—
Current Drawdown Current decline from peak	0.00%	-3.66%	+3.66%
Average Drawdown Average peak-to-trough decline	-0.07%	-32.61%	+32.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.56%	—

Volatility

Volatility by Period

	FAAA	OILK	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.44%	—
Volatility (6M) Calculated over the trailing 6-month period	—	23.26%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.94%	28.75%	-27.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.94%	30.12%	-29.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.94%	35.97%	-35.03%

FAAA vs. OILK - Expense Ratio Comparison

FAAA has a 0.20% expense ratio, which is lower than OILK's 0.68% expense ratio.

Dividends

FAAA vs. OILK - Dividend Comparison

FAAA's dividend yield for the trailing twelve months is around 1.32%, less than OILK's 8.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAAA Fidelity AAA CLO ETF	1.32%	0.00%	0.00%	0.00%	0.00%	0.00%	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 FAAA and OILK in my portfolio?

FAAA and OILK have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FAAA or OILK?

On fees, FAAA is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FAAA or OILK?

FAAA is cheaper with a 0.20% expense ratio, compared with 0.68% for OILK.

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

OILK has the higher dividend yield at 8.18%, compared with 1.32% for FAAA.

What is the main difference between FAAA and OILK?

FAAA is categorized as CLO, while OILK is Oil & Gas. They also come from different issuers: Fidelity and ProShares. Their fees differ too: 0.20% for FAAA and 0.68% for OILK.