GSPY vs. OILK

Last updated Jun 5, 2026

GSPY (Gotham Enhanced 500 ETF) and OILK (ProShares K-1 Free Crude Oil Strategy ETF) are both exchange-traded funds - GSPY is a Large Cap Blend Equities fund actively managed by Gotham, while OILK is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index. GSPY is actively managed, while OILK is passively managed. Over the past 5 years, GSPY returned 13.81%/yr vs 17.28%/yr for OILK. At a 0.10 correlation, their price movements are largely independent. GSPY charges 0.50%/yr vs 0.68%/yr for OILK.

Performance

GSPY vs. OILK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gotham Enhanced 500 ETF (GSPY) and ProShares K-1 Free Crude Oil Strategy ETF (OILK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSPY achieves a 11.68% return, which is significantly lower than OILK's 61.09% return.

GSPY

• 1D: 0.46%
• 1M: 4.91%
• YTD: 11.68%
• 6M: 12.32%
• 1Y: 29.89%
• 3Y*: 22.53%
• 5Y*: 13.81%
• 10Y*: —

OILK

• 1D: -1.91%
• 1M: -2.15%
• YTD: 61.09%
• 6M: 56.40%
• 1Y: 56.95%
• 3Y*: 18.39%
• 5Y*: 17.28%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

GSPY vs. OILK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
GSPY Gotham Enhanced 500 ETF	11.68%	18.28%	23.58%	26.01%	-17.07%	27.53%	0.58%
OILK ProShares K-1 Free Crude Oil Strategy ETF	61.09%	-11.86%	8.18%	-0.97%	27.57%	63.71%	0.87%

Correlation

The correlation between GSPY and OILK is -0.30, 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 (1Y) Calculated over the trailing 1-year period	-0.30
Correlation (3Y) Calculated over the trailing 3-year period	-0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (All Time) Calculated using the full available price history since Dec 30, 2020	0.10

The correlation between GSPY and OILK shifts across timeframes, from -0.30 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.

GSPY vs. OILK - Sectors Allocation Comparison

Sectors	GSPY	OILK
Technology	36.0%	-
Financial Services	11.7%	-
Communication Services	10.5%	-
Consumer Cyclical	10.3%	100.0%
Healthcare	9.6%	-
Industrials	8.6%	-
Consumer Defensive	6.0%	-
Energy	3.2%	-
Real Estate	2.2%	-
Basic Materials	1.3%	-
Utilities	0.8%	-

Return for Risk

GSPY vs. OILK — Risk / Return Rank

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

GSPY

GSPY Risk / Return Rank: 75
GSPY Sharpe Ratio Rank: 76
GSPY Sortino Ratio Rank: 72
GSPY Omega Ratio Rank: 76
GSPY Calmar Ratio Rank: 71
GSPY Martin Ratio Rank: 81

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.

GSPY vs. OILK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gotham Enhanced 500 ETF (GSPY) 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.

	GSPY	OILK	Difference
Sharpe ratio: Return per unit of total volatility	2.43	1.99	+0.44
Sortino ratio: Return per unit of downside risk	3.19	2.51	+0.68
Omega ratio: Gain probability vs. loss probability	1.44	1.33	+0.11
Calmar ratio: Return relative to maximum drawdown	3.48	3.30	+0.19
Martin ratio: Return relative to average drawdown	15.72	6.67	+9.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSPY vs. OILK - Sharpe Ratio Comparison

The current GSPY Sharpe Ratio is 2.43, which is comparable to the OILK Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of GSPY and OILK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GSPY	OILK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.43	1.99	+0.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.58	+0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	0.11	+0.85

Drawdowns

GSPY vs. OILK - Drawdown Comparison

The maximum GSPY drawdown since its inception was -23.30%, smaller than the maximum OILK drawdown of -83.76%. Use the drawdown chart below to compare losses from any high point for GSPY and OILK.

Drawdown Indicators

	GSPY	OILK	Difference
Max Drawdown Largest peak-to-trough decline	-23.30%	-83.76%	+60.46%
Max Drawdown (1Y) Largest decline over 1 year	-8.62%	-17.35%	+8.73%
Max Drawdown (3Y) Largest decline over 3 years	-18.67%	-23.42%	+4.75%
Max Drawdown (5Y) Largest decline over 5 years	-23.30%	-34.69%	+11.39%
Current Drawdown Current decline from peak	-0.22%	-5.49%	+5.27%
Average Drawdown Average peak-to-trough decline	-4.75%	-32.60%	+27.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	8.57%	-6.66%

Volatility

GSPY vs. OILK - Volatility Comparison

The current volatility for Gotham Enhanced 500 ETF (GSPY) is 2.75%, while ProShares K-1 Free Crude Oil Strategy ETF (OILK) has a volatility of 10.52%. This indicates that GSPY experiences smaller price fluctuations and is considered to be less risky than OILK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSPY	OILK	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.75%	10.52%	-7.77%
Volatility (6M) Calculated over the trailing 6-month period	8.87%	23.32%	-14.45%
Volatility (1Y) Calculated over the trailing 1-year period	12.38%	28.82%	-16.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.55%	30.13%	-13.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.32%	35.97%	-19.65%

GSPY vs. OILK - Expense Ratio Comparison

GSPY has a 0.50% expense ratio, which is lower than OILK's 0.68% expense ratio.

Dividends

GSPY vs. OILK - Dividend Comparison

GSPY's dividend yield for the trailing twelve months is around 2.34%, less than OILK's 8.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSPY Gotham Enhanced 500 ETF	2.34%	2.61%	0.84%	1.06%	1.25%	0.23%	0.00%	0.00%	0.00%	0.00%
OILK ProShares K-1 Free Crude Oil Strategy ETF	8.34%	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 GSPY and OILK in my portfolio?

GSPY and OILK have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSPY or OILK?

OILK has higher volatility (10.52%) compared to GSPY (2.75%). In terms of maximum drawdown, GSPY dropped -23.30% vs OILK's -83.76%.

Which ETF is better, GSPY or OILK?

On 5-year performance, OILK leads with 17.28% vs 13.81% for GSPY. On fees, GSPY is cheaper at 0.50% per year. On volatility, GSPY has been the lower-risk option at 2.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSPY or OILK?

Over the 5-year period, OILK has performed better with a 17.28% return vs 13.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSPY or OILK?

GSPY is cheaper with a 0.50% expense ratio, compared with 0.68% for OILK.

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

OILK has the higher dividend yield at 8.34%, compared with 2.34% for GSPY.

What is the main difference between GSPY and OILK?

GSPY is categorized as Large Cap Blend Equities, while OILK is Oil & Gas. They also come from different issuers: Gotham and ProShares. Their fees differ too: 0.50% for GSPY and 0.68% for OILK.

Which has better risk-adjusted returns?

GSPY currently has the higher Sharpe Ratio (2.43 vs 1.99), 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.